Tesla, Fed and stock
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Wall Street index futures pointed to a slightly higher open at the start of the week of the Federal Reserve's policy meeting, while Tesla shares gained following CEO Elon Musk's stock purchase. The electric vehicle maker jumped 8.
Tesla's stock has seen a remarkable recovery, climbing over 10% this month, fueled by optimistic investor sentiment, potential Federal Reserve rate cuts, and renewed interest in Tesla's advancements in robotics and self-driving technology.
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Why Are Tesla (TSLA) Shares Soaring Today
Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 5.9% in the morning session after CEO Elon Musk purchased approximately $1 billion of the company's stock, a move viewed by investors as a significant vote of confidence.
U.S. stocks are rising at the start of a week that could show whether Wall Street’s record-breaking rally has been overdone
It looks all but certain at this point that the Federal Reserve will soon cut rates. Shares of Tesla ( TSLA 5.89%) climbed higher on Thursday, finishing the day up 6%. The spike came as the S&P 500 gained 0.8% and the Nasdaq Composite rose 0.7%.
Wall Street ticked to more records Monday. The S&P 500 climbed 0.5 per cent and topped its prior all-time high set last week.
Shares of the electric vehicle maker, up 19% this month through Friday's close, are on a roll. Here are some of the reasons why.