The S&P 500 closed above 5,500 for the first time as the Fed chair announced inflation progress. Tesla shares surged 10.2% despite a drop in deliveries.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeas Fed Chair Jerome Powell said the central bank had made progress on inflation. The S&P 500 and the tech-heavybeat second-quarter production and delivery expectations
Before this week's rally in Tesla, the company's stock price had plunged 20% so far this year, lagging among megacap stocks. Tuesday's spike came as Tesla, as Tesla's aging lineup and increased competition force the EV maker to offer deep discounts to attract customers, especially in China.as prices normalize.
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