Wall St edges up as Tesla and Apple gain; Fed decision awaited
Tesla shares shot up nearly 14.5%, driving a 1.6% rise in the consumer discretionary sector, after the electric vehicle maker cleared some key regulatory hurdles that had long hindered the roll-out of its self-driving software in China, its second-largest market.
U.S. stocks closed higher on Friday, buoyed by moderate inflation data and a rally in megacap growth stocks following robust quarterly results from technology heavyweights Alphabet of interest rate cuts this year, down from about 150 bps seen at the beginning of the year, according to LSEG.Of the 233 companies in the S&P 500 that have reported quarterly earnings, 78.1% surpassed analyst expectations, compared with a long-term average of 67%, according to LSEG data.
The S&P 500 posted 18 new 52-week highs and one new low while the Nasdaq recorded 57 new highs and 39 new lows.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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