After a slow start in pre-market trading on Wednesday, the U.S. stock market recovered and finished the day slightly higher. NASDAQ (NDAQ) was up after delivering better than expected second-quarter earnings and revenues. Spearheading the move were shares of Novavax (NVAX) that surged after the company’s COVID-19 vaccine, built on new technology, was endorsed by the CDC.
General Motors (GM) stock was also up after the automaker unveiled its 2024 electric Chevrolet Blazer, slated for release next year. Bitcoin was also on the move, powering through the $23,000 level. On the earnings front, the focus is on Tesla (TSLA), United Airlines Holdings (UAL), and Steel Dynamics (STLD), which reported after hours. Netflix (NFLX) delivered better than expected subscriber growth, sending streaming stocks higher. At the end of the video, we also look at the big gainers and losers in the market.