Tesla's Q4 Earnings Miss Expectations; China Cuts Bank Reserve Requirements
South Korea's GDP grows 2.2% in Q4; U.S. stocks mixed with S&P 500 hitting record high; FAA halts Boeing's 737 Max production expansion
- Tesla's Q4 earnings missed expectations with a 40% drop to 71 cents a share, and revenue rose just 3.5% to $25.17 billion. The company warned that 2024 delivery growth may be 'notably lower' than in 2023.
- China's central bank announced a cut in bank reserve requirements, releasing about a trillion yuan ($140 billion) for lending, in a bid to boost its struggling economy.
- South Korea's GDP grew 2.2% year on year in the fourth quarter, beating expectations. However, the Kospi slipped and the won was steady.
- U.S. stocks closed mixed on Wednesday with tech stocks leading the charge. The S&P 500 hit another record high, while the Dow Jones Industrial Average ended in the red.
- The Federal Aviation Administration halted Boeing's plans to expand 737 Max production to improve quality control.
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