PiCK
New York Stock Exchange, Technology Stocks Rally with S&P 500 and Nasdaq Closing High
Summary
- It was reported that the key indices S&P 500 and Nasdaq at the New York Stock Exchange hit record highs, focusing on technology stocks.
- Notably, Tesla surged 3.46%, leading the major upward trend.
- On the other hand, other electric vehicle stocks showed a downward trend, indicating increased volatility.
The New York Stock Exchange saw major technology stocks rally, with key stock indices reaching record highs.
On the 2nd (local time), the Dow Jones Industrial Average closed at 44,782.00, down 128.65 points (-0.29%) from the previous session at the NYSE. However, the S&P 500 index rose 14.77 points (0.24%) to 6,047.15, and the technology-focused Nasdaq index increased by 185.78 points (0.97%) to 19,403.95, each closing higher.
The S&P 500 and Nasdaq indices both hit record highs on this day.
Notably, Tesla surged 3.46%, drawing attention. As a result, the market capitalization increased to 1,146 trillion dollars. Tesla has surged over 40% since the election of Donald Trump on the 5th of last month. Investment firm MKM Partners upgraded Tesla's stock rating from 'neutral' to 'buy', citing its secretive relationship with CEO Elon Musk and President-elect Donald Trump.
However, other electric vehicle stocks fell sharply. Rivian dropped 2.94% to 11.87 dollars, Lucid fell 2.29% to 2.13 dollars, and Nikola plummeted 8.46% to 1.84 dollars. Tesla's dominance is interpreted as making management more challenging.
Kim So-yeon, Hankyung.com reporter sue123@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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