Tesla, Amazon, Snowflake, Xpeng, Salesforce: Why These 5 Stocks Are Catching Investors' Attention Today

Wall Street's major indexes soared on Wednesday after Federal Reserve Chairman Jerome Powell said the central bank could slow the pace of rate hikes as early as December, while observing that there is still a long way to go to bring inflation down. The Nasdaq closed up more than 4% while the Dow Jones and S&P ended Wednesday's session up more than 2%. Meanwhile, these five stocks are catching investors' attention:

1. Tesla Inc TSLA: The electric vehicle maker is eager to ramp up Model Y production from Gigafactory Texas in the first quarter of 2023, Electrek reported. Tesla shares closed up 7.67%, in line with Wednesday's Wall Street rally.

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2. Amazon.com, Inc. AMZN: Amazon plans to introduce warning cards for software sold by its cloud computing division, in the wake of ongoing concerns that artificially intelligent systems can discriminate against different groups, reported Reuters citing the company. Shares of Amazon closed up 4.46%.

3. Snowflake Inc SNOW: Although the company's shares closed up 4.63%, they fell 5.28% in extended trading on Wednesday. Snowflake expects fourth-quarter product revenue to be between $535 million and $540 million, which is lower than Street estimates.

4. Xpeng Inc XPEV: Xpeng saw its net loss widen to RMB2.38 billion ($0.33 billion) for the third quarter of 2022, from RMB1.59 billion for the same period of 2021. However , shares of the Chinese electric vehicle maker closed 47.28% higher on the NYSE as the company signaled it could see a bottom in lower shipments, according to CNBC.

5. Salesforce Inc CRM: Shares of Salesforce closed Wednesday's session up 5.59% but fell 6.65% in extended trading as the company released its third-quarter results and announced that Bret Taylor would leave his functions of vice-president and co-CEO. The company's third-quarter revenue increased 14% year-on-year to $7.84 billion, beating analysts' average estimate of $7.82 billion.

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