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Tesla surged on Wall Street

» Updated: July 16 2024

» Published: July 02 2024

Tesla surged on Wall Street
Photo: Richard Drew/AP/TT

The electric car manufacturer Tesla was among the winners on Tuesday's New York stock exchange, where the three leading indexes all closed on the plus side. The broad S&P 500 index rose 0.6 percent, the Dow Jones industrial index increased 0.4 percent, and the technology-heavy Nasdaq composite index lifted 0.8 percent.

Tesla's share, which presented better sales figures for the spring than analysts had predicted, surged 10.2 percent.

Federal Reserve Chairman Jerome Powell said on Tuesday in a speech that the Federal Reserve "has made great progress" in combating inflation. However, he stated at the same time that the Fed is in no hurry to lower the interest rate. Powell pointed to the strong US labor market and said: "We can afford to wait".

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By TTThis article has been altered and translated by Sweden Herald

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