Market Update: Nasdaq Surges at Beginning of New Quarter, Tesla Soars 6%
Money | July 1, 2024, 6:23 p.m.
US stocks started the second half of 2024 on a positive note, with the Dow Jones Industrial Average rising 0.1% and the S&P 500 gaining 0.3%. The tech-heavy Nasdaq Composite climbed about 0.8%. Tesla's stock saw a 6% jump ahead of its quarterly delivery results, while Nvidia recovered from earlier losses. Investors are speculating on whether the second half will bring a pullback or further growth in the tech-driven rally. The upcoming July 4 break and the June jobs report on Friday are key points of focus. Concerns over interest rate cuts and emerging economic cracks are driving market sentiment. Inflation is slowing toward the Federal Reserve's target, sparking hopes for policy changes. However, US manufacturing data showed a decline in June, contributing to a bout of uncertainty in the market. Tesla, Chewy, and Boeing were among the trending stocks on Monday, highlighting the ongoing fluctuations in the market amidst economic uncertainties.