Stock market news live updates: Stocks mixed, tech rallies into September; Tesla eyes $5B offering after stock split
historically rough month for investors.” data-reactid=”16″>Stock futures pointed to a mixed open when Wall Street begins trading on Tuesday, with traders eager to probe whether the previous month’s momentum can carry over into September — a historically rough month for investors.
rising optimism for a COVID-19 vaccine that may backstop economic growth.
Despite giving back some gains on Monday, a formidable string of consecutive winning sessions carried the Dow over 7% higher during August — its best monthly showing since 1986. The S&P 500 Index also saw its best month since 1986, while a brisk rally in tech stocks propelled the Nasdaq to its best monthly performance since 2000, representing a nearly 10% gain.
vicious sell-off sparked by the COVID-19 outbreak obliterated all of the Trump era gains.
AAPL) and Tesla (TSLA) both soared after their stocks split on Monday, on the heels of setting new record highs. Tech stocks have boosted market sentiment, and helped grease the wheels of a rally that’s carried benchmarks higher despite the ongoing pandemic. Zoom, (ZM), Amazon (AMZN), Facebook (FB), Netflix (NFLX) and Alphabet (GOOG, GOOGL) have been among the winners.
Additionally, July’s high-frequency economic data broadly outperformed Wall Street’s estimates, the latest being robust personal income and spending data released on Friday. Taken together, economists now believe that third quarter growth could be “even boomier” than prior estimates, JPMorgan Chase said on Friday.
has shown signs of tapering off in the Sun Belt region — which until very recently had been a domestic epicenter of new infections. Additionally, encouraging developments in the race for a vaccine have given the market reasons for hope.
unemployment still elevated, the August payrolls data will be closely watched for signs the labor market is healing, and more displaced workers are finding unemployment.
—
ZM) into a must-have on virtually every computer/mobile device, and the company’s second-quarter earnings report reflects this. A monster quarter saw the company beat estimates by a mile and hike its annual revenue forecast by more than 30%, on the heels of converting more free users into paid subscribers.
Zoom’s stock, which closed up nearly 9% on Monday, is rallying by a staggering 38% in the pre-market.
—
Tesla Inc CEO Elon Musk takes off his coat onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai, China January 7, 2020. REUTERS/Aly Song
TSLA) stock (which hit a record on the same day the stock split), so the House that Elon Musk built is offering them more of what they crave. Tesla will raise up to $5 billion in a share sale that will be led by Wall Street’s main brokers.
here’s Tesla by the numbers:” data-reactid=”51″>The news comes just a day after the company’s successfully split its stock 5-1. Tesla’s already up more than 2% in the pre-market, after having closed up a whopping 12.6% on Monday. Via StockApps data, here’s Tesla by the numbers:
-
Stock up by nearly 200% in the last three months, and up about 500% on the year
-
Market capitalization of over $460 billion makes Tesla the world’s most valuable car company — almost seven times more than Ferrari, Porsche and Aston Martin combined — and four times more valuable than tech stalwart IBM
—
Here were the main moves in equity markets, as of 6:45 p.m. ET:
—
6:15 p.m. ET Monday: Stock futures rise as overnight session begins
Here were the main moves in equity markets, as of 6:45 p.m. ET:
-
S&P 500 futures (ES=F): 3488.00, -11
-
Dow futures (YM=F): 28339, -77
-
Nasdaq futures (NQ=F): 12099.00, -15
—
Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.” data-reactid=”77″>Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and reddit.
Find live stock market quotes and the latest business and finance news
For tutorials and information on investing and trading stocks, check out Cashay
