Tesla’s ongoing ascent after a better-than-expected deliveri...

Tesla’s ongoing ascent after a better-than-expected deliveries report also boosted the broader market. The electric vehicle maker’s stock jumped 6.5% on Wednesday, rising for a seventh straight session. That marked its first winning streak of that length in 2024.

“Everybody hated Tesla three months ago. But now, they’re having their day in the sun,” said Larry Tentarelli, chief technical strategist at the Blue Chip Daily Trend Report. Tesla’s rally sets “a bullish tone for the market overall.”

Artificial intelligence darling Nvidia jumped around 4.6%, also helping the tech-heavy Nasdaq outperform.

After Wednesday’s early closing bell, traders will watch for minutes from the June Federal Open Market Committee meeting expected at 2 p.m. ET.