Tuesday, May 21, 2024
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When the New Week Begins, Stocks are Up as Apple and Tesla Rise

Stocks climbed on Monday, driven by the strong performance of major tech companies, as traders prepared for a week focused on corporate earnings and a Federal Reserve meeting.

The Dow Jones Industrial Average rose by 127 points, or 0.3%, while the S&P 500 and Nasdaq Composite increased by 0.4% and 0.6%, respectively.

Tesla surged more than 10% after achieving a significant milestone for its full self-driving technology in China. Apple, among other major companies reporting earnings this week, saw its stock price rise by over 2% following a positive rating from investment firm Bernstein.

These gains come after a somewhat turbulent but overall positive week on Wall Street, providing some relief from recent market declines. The S&P 500 and Nasdaq Composite both recorded their best weekly performances since November.

Source (CNBC)

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