Gunjan Banerji

The Magnificent Seven are flying higher this year. There is just one exception: Tesla. The stock is the only decliner in this exclusive club of shares in the first few weeks of 2024. The rout worsened Thursday after the company's earnings.

Tesla shares have dropped during an otherwise banner stretch for technology heavyweights.

The electric-vehicle maker has been the laggard among the group of big technology stocks that powered markets higher last year.

Custodial investment accounts for minors have surged in popularity.

Options traders are betting on a mammoth move after Nvidia's earnings this week. Traders are wagering on around an 11% move in Nvidia shares after it reports Wednesday evening and through Friday, Cboe Global Markets data show. Trading in Nvidia options has ramped up ahead of its financial results.

Trading in Nvidia options has been [heating up ahead of its earnings this afternoon](https://www.wsj/livecoverage/stock-market-today-dow-jones-earnings-02-20-2024/card/traders-wager-on-explosive-moves-for-nvidia-s-stock-yX5DzfbDWZ1xYeP2Sant), with many betting on a huge swing. A lurch higher to $1,300 would peg Nvidia's market valuation at $3.2 trillion. Other widely-traded bets include calls tied to the shares jumping to $800 or $700, Cboe Global Markets data show.

It's painful to be a stock-market bear these days. Surging share prices of the Magnificent Seven stocks—Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla and Meta Platforms—have made it tough for investors to wager against the stocks.

Traders are throwing gobs of money at Nvidia stock options. The artificial-intelligence mania has also a driven a frenzy in trades tied to Super Micro Computer, a much smaller company. Traders spent more money on Super Micro Computer options last week than they did Tesla bets.

The casino is open—in the stock market. Famed investor Warren Buffett used his annual letter to Berkshire Hathaway shareholders to comment on the speculation that has swept financial markets in recent years.

The Dow led stock indexes lower as results from Nike and Lululemon made some investors worry about consumer demand.