Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Morning Bid: New records as jobs scanned, Tesla jumps
https://www.reuters.com/markets/us/global-markets-view-usa-pix-2024-07-03/Morning Bid: New records as jobs scanned, Tesla jumps
By Reuters
July 3, 2024 6:04 AM EDT Updated 2 hours ago
Commentary By Reuters
July 3 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan
Federal Reserve chair Jerome Powell managed to smooth some election-ruffled feathers in bond markets on Tuesday, helping Wall St stocks back to all-time highs as a sweep of labor market soundings are due ahead of the July 4 break.
As the Nasdaq (.IXIC) hit new records and the S&P 500 (.SPX) closed above 5,500 points for the first time, Tesla (TSLA.O) stole the show - surging 10% to its highest level since January after it reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter.
The auto giant's shares, the only stock of so-called "Magnificent 7" of U.S. megacaps to be still in the red for the year, was up a further 3% ahead of Wednesday's bell.
U.S. Treasuries , which had been hit earlier this week by rising bets on Donald Trump's return to the White House and the fiscal implications of his campaign promises, have calmed somewhat since Powell spoke in Portugal on Tuesday.
[...]
By Reuters
July 3, 2024 6:04 AM EDT Updated 2 hours ago
Commentary By Reuters
July 3 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan
Federal Reserve chair Jerome Powell managed to smooth some election-ruffled feathers in bond markets on Tuesday, helping Wall St stocks back to all-time highs as a sweep of labor market soundings are due ahead of the July 4 break.
As the Nasdaq (.IXIC) hit new records and the S&P 500 (.SPX) closed above 5,500 points for the first time, Tesla (TSLA.O) stole the show - surging 10% to its highest level since January after it reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter.
The auto giant's shares, the only stock of so-called "Magnificent 7" of U.S. megacaps to be still in the red for the year, was up a further 3% ahead of Wednesday's bell.
U.S. Treasuries , which had been hit earlier this week by rising bets on Donald Trump's return to the White House and the fiscal implications of his campaign promises, have calmed somewhat since Powell spoke in Portugal on Tuesday.
[...]