Tesla Gains In Pursuit of Technological Recovery and Wall Street

  Tesla Gains In Pursuit of Technological Recovery and Wall Street Sales on Monday as a result of higher bond yields helped tech stocks to recover. The expectation that Tesla's funds in the electric car manufacturer could approach 3 thousand dollars in 2025 became widespread with the developments experienced. According to Ark Invest CEO Cathie Wood, Tesla Inc's 2.31 % gain from $ 670 last week was the 4th largest increase for the S&P 500. Tesla traded higher than 6 % during the session before cutting gains. While growth stocks increased, value shares declined as the major rotation reversed in this year's investment portfolios. Investors flocked to lower-priced stocks from growth stocks, while technology taking advantage of lower returns put pressure on stocks. Tom Hayes, head of the Great Hill Capital LLC Hedge fund in New York, said that after reaching a record high in US Treasury bond yields, the recent 14-month high has allowed tech stocks to bounce back. “There is plenty of growth and growth in many industries. I think this will continue for the next 18 months,” Hayes said, predicting that this growth will be more moderate than thought. The tech-heavy Nasdaq surpassed the S&P 500 and Dow Jones. Incentives and vaccination practices led to the strongest US economic growth since 1983. An all-time high has been announced.

Tesla traded higher than 6 % during the session before cutting gains.

"Tech stocks have declined considerably and it is not surprising to see some rebound from lows," said Jake Wujastyk, chief market analyst and founding member of TrendSpider. With the Canadian Pacific Railway Ltd, the railway construction agreement covering the United States, Mexico and Canada, Kansas City Southern values ​​increased by 11,1 %. To sum up;

• Dow Jones Industrial Average closed at 32,731.2, up 103,23 points and 0.32 %.
• The S&P 500 gained 27.49 points, 0.70 %, to 3,940.59.
• Nasdaq Composite rose to 13.377.54, up 162,31 points and 1.23 %.

iShares MSCI Turkey ETF’s, President Tayyip Erdogan, the central bank decided to dismiss the manager, aroused the fear that after the reversal of the recent interest rate increases fell by 18.96 %. Declining problems were more than progressive problems in the NYSE, with a ratio of 1.18 to 1; 1.25 to 1 ratio supported declines on the Nasdaq.  

Source: Yahoo.Finance Reuters

 

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