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The NASDAQ Composite rose Monday following a rough week, as Tesla shares surged and Wall Street looked ahead to some major market-moving earnings reports.
The Dow Jones Industrials fell 55.39 points to 43,389.60.
The S&P 500 recouped 23 points to 5,893.62.
The tech-heavy index zoomed 111.68 points to 18,791.81, as Tesla gained 5.6%. 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 took on 1.3%, and Netflix gained 2.8%, while Advanced Micro Devices surged 3%.
Beyond Nvidia, investors await a batch of earnings from key retailers, which could offer greater insight into the health of the economy and consumer spending. About 93% of S&P 500 companies have reported results so far. More than 74% have topped earnings expectations and 62% have surpassed revenue estimates
Prices for the 10-year Treasury reasserted themselves, dropping yields to 4.42% from Friday’s 4.44%. Treasury prices and yields move in opposite directions.
Oil prices muscled higher $2.10 to $69.12 U.S. a barrel.
Prices for gold jumped $44.60 an ounce to $2,614.70 U.S.
