Tesla Shares Rise 3% on $16.5 Billion Samsung Deal

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Tesla Shares Rise 3% on $16.5 Billion Samsung Deal
Photo: Mary Altaffer/AP/TT

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The leading indexes on the American stock exchange moved only marginally on Monday. The broad S&P 500 index closed unchanged, the Dow Jones industrial index fell back 0.1 percent and the technology-heavy Nasdaq's composite index rose 0.3 percent.

Initially, the three indexes rose after the customs agreement that was reached the day before between the USA and the EU. And on Friday, both S&P 500 and Nasdaq closed at new record levels.

Later this week, financial reports are expected from both the IT giants Apple and Meta, as well as the aircraft manufacturer Boeing. On Wednesday, a new interest rate decision will also be announced from the central bank Federal Reserve.

Among Monday's winners was Tesla. The share rose 3.0 percent after CEO Elon Musk announced a deal with Samsung worth 16.5 billion dollars, equivalent to almost 159 billion kronor. The South Korean company will deliver semiconductors to the electric car manufacturer.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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