Trump Provides Another Boost! Tesla Shares Surge Over 5%, Leading the Seven Tech Giants!
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Trump has announced a partial tariff exemption for automakers. This news has lifted market optimism, resulting in a broad rally in U.S. stocks, with Tesla shining brightly.
On Wednesday, U.S. President Trump revealed plans to exempt certain tariffs on car manufacturers. This move sparked a collective rebound in the stock market. The Nasdaq index rose by 2.5%, the S&P 500 gained 1.66%, and the Dow Jones climbed 1%.
All seven tech giants saw gains. Tesla (TSLA) surged by 5.37%, taking the top spot. Amazon (AMZN) and Meta (META) followed closely with about 4% increases. Nvidia (NVDA), Google (GOOG), Apple (AAPL), and Microsoft (MSFT) saw gains ranging from 2% to 3%.
Tesla stock price chart, Source :Google.
The day before, Trump stated he had no intention of firing Powell. The White House also announced tariff agreements with countries like Japan and India. This significantly reduced market risk aversion, leading to a collective rebound in stocks. Tesla was notably boosted, rising by 4.6%.
Trump's concessions on tariffs, particularly for the auto industry, came after intense lobbying from industry executives, including Tesla's Elon Musk. They continue to push for more exemptions.
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