Connect with us

Finance

Stocks rally as Tesla nears an all-time high

Published

on


Elon MuskBen
Macmahon/AP

Stocks rose Tuesday, with the S&P 500 approaching its January
peak, as Tesla rallied more than 9.5%. The dollar
fell, and Treasury yields jumped. 

Here’s the scoreboard:

Dow Jones industrial
average
25,629.62 +127.44
(+0.50%)

S&P
500
:
 2,859.12 +8.72
(+0.31%)

Nasdaq
Composite 
7,884.92 25.24
(+0.32%) 

  1. Tesla
    trading
    was temporarily halted
    after a tweet from the account of
    CEO Elon Musk suggested he is considering taking the company
    private.
     “Am considering taking Tesla private at
    $420. Funding secured,” Musk said on Twitter just after noon.
    Earlier Tuesday, the Financial Times reported Saudi Arabia’s
    sovereign wealth fund had accumulated about a $2 billion stake
    in the electric-car maker. Tesla neared an all-time high when
    its resumed trading.
  2.  In the latest sign of a robust labor market,
    job openings in the US held close to record highs in
    June. 
    The job openings rate stayed at 4.3 percent
    that month, the Labor Department said, with an additional 20,000
    jobs in the education sector and a decline of 84,000 jobs in
    other industries. 
  3. South Korea said it would
    block a trade agreement with the US
    if its cars aren’t
    exempt from President Donald Trump’s proposed
    tariffs. 
    The move would jeopardize one of the
    only deals the president has successfully negotiated since
    starting a protectionist crackdown.
  4. Earnings season rolls on. Snap,
    Walt
    Disney
    and Papa
    John’s
    report after the bell — follow Business Insider for
    live updates. 

And a look at the upcoming economic calendar:

  • Annual inflation numbers are out in China.
  • The US reports crude oil inventories. 
  • IBM, Microsoft and General Electric post earnings later
    this week. 

See also:


A $300 billion asset manager says investors are overlooking a
huge threat that’s building right in front of their eyes


MOODY’S WARNS: Mutual funds are bleeding cash at an unprecedented
rate, and they’re increasingly vulnerable to the next market
meltdown

Continue Reading
Advertisement Find your dream job

Trending