Tesla Surges Amid Geopolitical Tensions and Market Fluctuations
U.S. stock markets saw a rally despite geopolitical tensions following U.S. strikes on Iran. Tesla's launch of robotaxis in Texas led to a significant stock surge. Meanwhile, markets remain cautious about inflationary pressures, with a focus on upcoming economic data and Fed Chair Jerome Powell's congressional testimony.
In the face of geopolitical tensions and market volatility, U.S. stock indexes showed impressive gains on Monday. Analysts observed a positive shift as investors appeared unfazed by potential crude supply disruptions following recent U.S. strikes on Iran's nuclear facilities.
Electric vehicle titan Tesla experienced a notable 9.5% increase in its shares after the company debuted a fleet of self-driving robotaxis in Austin, Texas. Despite ongoing threats from Iran to retaliate, oil prices dipped over 1%, with markets maintaining a watchful eye on the evolving situation.
Amid these developments, Wall Street awaits important data, focusing on U.S. core PCE figures and GDP readings this week. Investors also have their sights set on Fed Chair Jerome Powell's semiannual testimony before Congress, as well as upcoming earnings reports from major companies like Nike and FedEx.
(With inputs from agencies.)
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