Tech Giants Roar as Tesla Spikes in Late Hours: Markets Wrap
- Tesla to accelerate launch of cheaper cars after sales miss
- S&P 500 notches its best back-to-back rally in two months
A rally in tech heavyweights lifted the broader stock market, with the group’s high-stakes earnings seen by Wall Street investors as a major test of the bull run in equities.
In late hours, Tesla Inc. soared as the electric-vehicle giant said it will accelerate the launch of more-affordable models — and chief Elon Musk struck an upbeat tone. The stock halted a seven-day plunge that drove it to “oversold” levels, climbing alongside other members of the “Magnificent Seven” cohort of megacaps on Tuesday. Texas Instruments Inc. gave a bullish revenue forecast — a good sign for the chip industry.