Wall Street got the New Year off to a solid start driven by Apple becoming the first company to hit $3 trillion in valuation and Tesla's quarterly deliveries beat analysts' estimates
Apple became the first company to reach that milestone and its shares ended higher.
Tesla's shares also climbed after the company's quarterly deliveries beat analysts' estimates, riding out global chip shortages as it ramped up production in China."Those are the two big drivers for the S&P," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago. But he and others said easing investor worries about the impact of the Omicron coronavirus variant also helped market sentiment, even with rising COVID-19 case numbers.
"The real news is people feel like this latest round of COVID is not going to be economically debilitating in that a lot of restrictions and lockdowns are going to be required," said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.
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