Wall Street is searching for gains this morning following the Nasdaq's worst trading day since 2022. The Nasdaq fell 3.6%, dragged down by disappointing results from both Tesla and Alphabet. Several big names are reporting this morning, including Southwest, American Airlines, and Royal Caribbean. Southwest reported profit that fell 46% year-over-year. The Airline also announced major changes to its procedures, announcing it will phase out its well-known open seating plan.
President Biden addressed the nation in primetime on Wednesday, three days after dropping his reelection bid and endorsing Vice President Kamala Harris as his replacement to take on former President Donald Trump. Ford Motor announced worse-than-expected second-quarter earnings on Wednesday. Revenue met expectations. The auto giant continues to predict a full-year loss of around $5 billion for its electrical vehicle business amid continued pricing pressure and investments in next-generation EVs.
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