Finance
Stocks rally as Tesla nears an all-time high
Ben
Macmahon/AP
Stocks rose Tuesday, with the S&P 500 approaching its January
peak, as Tesla rallied more than 9.5%. The dollar
fell, and Treasury yields jumped.
Here’s the scoreboard:
Dow Jones industrial
average: 25,629.62 +127.44
(+0.50%)
S&P
500: 2,859.12 +8.72
(+0.31%)
Nasdaq
Composite : 7,884.92 25.24
(+0.32%)
- Tesla
trading
was temporarily halted after a tweet from the account of
CEO Elon Musk suggested he is considering taking the company
private. “Am considering taking Tesla private at
$420. Funding secured,” Musk said on Twitter just after noon.
Earlier Tuesday, the Financial Times reported Saudi Arabia’s
sovereign wealth fund had accumulated about a $2 billion stake
in the electric-car maker. Tesla neared an all-time high when
its resumed trading. - In the latest sign of a robust labor market,
job openings in the US held close to record highs in
June. The job openings rate stayed at 4.3 percent
that month, the Labor Department said, with an additional 20,000
jobs in the education sector and a decline of 84,000 jobs in
other industries. -
South Korea said it would
block a trade agreement with the US if its cars aren’t
exempt from President Donald Trump’s proposed
tariffs. The move would jeopardize one of the
only deals the president has successfully negotiated since
starting a protectionist crackdown. -
Earnings season rolls on. Snap,
Walt
Disney and Papa
John’s report after the bell — follow Business Insider for
live updates.
And a look at the upcoming economic calendar:
- Annual inflation numbers are out in China.
- The US reports crude oil inventories.
-
IBM, Microsoft and General Electric post earnings later
this week.
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