US: Stocks mixed as Tesla rises on self-driving optimism
US STOCKS finished mixed on Monday, with traders bracing for Nvidia earnings later this week, and piling into Tesla on press reports that President-elect Donald Trump could ease regulation on self-driving vehicles.
The Dow Jones Industrial Average fell 0.1 per cent to 43,389.60, while the broad-based S&P 500 Index rose 0.4 per cent to 5,893.62.
The tech-heavy Nasdaq Composite Index gained 0.6 per cent to 18,791.81, buoyed by a jump in the share price of electric vehicle maker Tesla.
The company’s share price popped 5.6 per cent following a Bloomberg News report over the weekend that Trump is looking to ease the restrictions on self-driving cars, something Tesla -- run by Trump backer Elon Musk - could benefit from.
But elsewhere, it was “a relatively unremarkable day, in terms of magnitude of move,” Art Hogan from B. Riley Wealth Management told AFP.
This was “not surprising,” he added, pointing to the post-election market “explosion,” and the subsequent drawback last week.
“We kind of entered the new week at a midpoint with very little economic data,” he said.
Traders were also looking ahead to earnings from chip designing titan Nvidia after markets close on Wednesday. AFP
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