U.S.-China Tariff Pause: Why Tesla's Stock Is Soaring Today
Shares of the electric car maker Tesla (NASDAQ: TSLA) traded nearly 6.5% higher, as of 10:14 a.m. ET today. Over the weekend, the U.S. and China announced an agreement to pause most reciprocal tariffs against one another, sending stocks surging. The Dow Jones Industrial Average rocketed over 1,000 points, while the tech-heavy Nasdaq Composite rose roughly 3.7%.As one of the largest tech stocks, with a market cap close to $1 trillion, it's only natural to see Tesla's stock ripping on news that benefits the broader market."This is very bullish news for the tech trade as the supply chain concerns will now be significantly reduced," Wedbush analyst Dan Ives wrote in a research note this morning.Continue reading
Shares of the electric car maker Tesla (NASDAQ: TSLA) traded nearly 6.5% higher, as of 10:14 a.m. ET today. Over the weekend, the U.S. and China announced an agreement to pause most reciprocal tariffs against one another, sending stocks surging. The Dow Jones Industrial Average rocketed over 1,000 points, while the tech-heavy Nasdaq Composite rose roughly 3.7%.
As one of the largest tech stocks, with a market cap close to $1 trillion, it's only natural to see Tesla's stock ripping on news that benefits the broader market.
"This is very bullish news for the tech trade as the supply chain concerns will now be significantly reduced," Wedbush analyst Dan Ives wrote in a research note this morning.
