Stocks close at record highs after Tesla hits a $1 trillion in market value
The Dow Jones Industrial Average rose nearly 0.2% on Monday, while the S&P 500 gained 0.5% and the tech-heavy Nasdaq Composite jumped 0.9%.
Both the Dow and S&P 500 closed at new record highs as the stock market’s winning streak continued on the back of positive third-quarter earnings. Of the 117 companies in the S&P 500 that have reported earnings so far, some 84% have posted results that were above expectations, according to data from Refinitiv.
While earnings season has been upbeat so far, investors are looking ahead to earnings from major technology companies this week, including Facebook, Alphabet, Microsoft, Amazon and Apple. Shares of Facebook, which reports after the market close on Monday, fell earlier in the day before rising over 1% in afternoon trading; The company has been under pressure recently following the release of the ‘Tesla stock, meanwhile, surged 12% to a new all-time high on Monday—bringing the company’s market value to more than $1 trillion—after Hertz
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