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The NASDAQ Composite rallied Monday as Tesla shares surged and Wall Street braced for major market-moving earnings reports.
The Dow Jones Industrials fell 7.55 points to 43,437.44.
The S&P 500 recouped 27.21 points to 5,897.83.
The tech-heavy index zoomed 132.07 points to 18,812.19, as Tesla gained 7%. The electric vehicle maker rose after Bloomberg News reported, citing sources, that President-elect Donald Trump’s team is working on ways to ease regulation on self-driving vehicles.
Tesla spearheaded the tech-heavy index’s rally, popping 7% amid a Bloomberg News report, citing sources, that President-elect Donald Trump’s team is working on ways to ease regulation on self-driving vehicles. Elsewhere, Apple and Netflix rose about 2%, while Advanced Micro Devices surged nearly 4%.
Wednesday’s report from the AI chip darling Nvidia remains top of mind for investors, and could serve as the next major catalyst as traders search for signs of resilient demand for its Blackwell AI chips. Shares slipped 3% after The Information reported that the chips overheat when connected together in servers, citing sources.
Prices for the 10-year Treasury swooned, raising yields to 4.45% from Friday’s 4.44%. Treasury prices and yields move in opposite directions.
Oil prices muscled higher $1.94 to $68.96 U.S. a barrel.
Prices for gold jumped $44.50 an ounce to $2,614.60 U.S.
