Bay Area stocks put in a mixed performance on Wall Street, Friday, with Tesla shares rising following the electric carmaker’s vehicle delivery report, and many other local companies losing ground following the latest grim economic report related to the coronavirus pandemic.
Tesla was up by 9%, at $495.45 a share, after the company said on Thursday that it delivered more than 88,000 vehicles to customers during the first three months of the year. Tesla’s results included the first deliveries of its Model Y crossover vehicle, and the effect of plant shutdowns in China and Fremont, which closed as part of efforts to contain the spread of coronavirus.
Apple shares slipped by almost 1%, to $245.38. Apple said that because of the economic effects of the ongoing coronavirus crisis, it is extending a customer assistance program that will let its Apple Card users defer their April payments without interest charges.
Among other Bay Area companies, Intel, Facebook, Cisco Systems, HP, Neflix and Google parent Alphabet all saw their shares lose ground.
The Dow Jones Industrial Average had a rough go of it, dropping 200 points, or 1%, to 21,212.64. The S&P 500 fell by 0.6%, to 2,510.64, and the Nasdaq Composite Index gave up 0.5%, to slip to 7,446.96.
Before the market opened, the U.S. Labor Department released some more grim information about how coronavirus is impact the nation’s job situation. The Labor Department said non-farm payrolls in March fell by 701,000 as companies around the country started closing up in order to comply with many states’ shelter-in-place orders.It was the first time such payroll figures dropped since September 2010.
The payrolls data came one day after the Labor Department said 6.6 million Americans filed for first-time unemployment benefits last week. Those figures included 879,000 claims coming from California.
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April 03, 2020 at 10:08PM
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Coronavirus: Tesla surges, but latest jobs data darkens Wall Street - The Mercury News
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