Stock market today: S&P 500, Nasdaq climb as Tesla shines

Published On Nov 18, 2024, 12:10 PM

US stocks gained ground on Monday, led by Tesla's 8% rise amid expectations of eased regulations for self-driving cars under the incoming Trump administration. The tech sector is closely watching Nvidia's upcoming earnings report, which is anticipated to have a significant impact on the AI trade driving market momentum. Nvidia's shares have faced pressure recently due to overheating issues with their new AI servers ahead of the earnings announcement scheduled for Wednesday. Overall, the market showed a recovery attempt, buoyed by strong economic signals and reduced expectations for Federal Reserve rate cuts.

Stock Forecasts

Tesla's stock is on a post-election rally with positive sentiment due to favorable policy expectations for autonomous vehicles. This momentum can continue, especially if the incoming administration pushes forward with deregulation. Thus, Tesla is likely to outperform.

Nvidia’s shares have been under pressure due to technical issues reported ahead of earnings. While the company's dominance in AI remains strong, current uncertainties might lead to a downward adjustment in stock price post-earnings release.

Apple stock has shown resilience and is gaining ground in the backdrop of tech sector recovery. If overall market sentiment continues to improve alongside positive earnings from tech companies, Apple could experience upward momentum.

Related News

More reasons why Wall Street loves Nvidia.

(Bloomberg) -- Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for self-driving vehicles one of the Transportation Department’s priorities, according to people familiar with the matter.Most Read from BloombergIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceA Bug’s Eye View of Mexico City’s Modernist ArchitectureParis to Replace Parking Spaces With

TSLA
UBER
LYFT

The Blackwell graphics processing units overheat when connected together in server racks designed to hold up to 72 chips, the report said, citing sources familiar with the issue. The chipmaker has asked its suppliers to change the design of the racks several times to resolve overheating problems, according to Nvidia employees who have been working on the issue, as well as customers and suppliers with knowledge of the issue, the report said without naming the suppliers. In March, Nvidia unveiled Blackwell chips and had earlier said they would ship in the second quarter before encountering delays, potentially affecting customers such as Meta Platforms, Alphabet's Google and Microsoft.