Trump Provides Another Boost! Tesla Shares Surge Over 5%, Leading the Seven Tech Giants!
TradingKey - Market optimism climbed after U.S. President Trump announced a partial tariff exemption for automakers which triggered a broad rally in U.S. stocks, with Tesla emerging as the standout performer.
On Wednesday, President Trump revealed plans to exempt certain car manufacturers from tariffs. This decision prompted a strong rebound in the stock market. The Nasdaq rose by 2.5%, the S&P 500 increased by 1.66%, and the Dow Jones advanced by 1%.
All seven tech giants saw recorded gains. Tesla (TSLA) surged by 5.37%, taking the lead. Amazon (AMZN) and Meta (META) followed with gains of around 4%, while Nvidia (NVDA), Google (GOOG), Apple (AAPL), and Microsoft (MSFT) rose between 2% and 3%.
Tesla stock price chart, Source :Google.
The day before, Trump stated that he had no intention of firing Powell. The White House also announced new tariff agreements with countries including Japan and India. These developments significantly eased market risk aversion, leading to a broad rebound in stocks. Tesla was among the top gainers , rising by 4.6%.
Trump's tariff concessions, particularly those benefiting the auto industry, followed intense lobbying from industry executives, including Tesla's Elon Musk. These leaders continue to advocate for additional exemptions.
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