Includes major US listed companies involved in the manufacture and sale of electric vehicles. With growing environmental concerns such as the impacts of climate change, many governments and consumers are prioritizing the use of clean energy and reducing carbon emissions. EVs rely on advanced technologies such as battery storage, charging infrastructure, and autonomous driving. Investing in EV stocks offers exposure to companies in these key technological and sustainable advancements, and helps investors benefit from potential growth opportunities. Many governments are offering incentives for the purchase of EVs, including tax credits and subsidies, to encourage the adoption of cleaner vehicles. This support can create a favorable environment for EV manufacturers and suppliers, potentially leading to higher profits and improved stock market performance.
Options Market Statistics: Big Tech Stocks Surge on Monday, Boosting S&P 500 and Nasdaq Gains
News Highlights
AU Morning Wrap: Australian Stock Market Gains Momentum with Tech Rally
Australian stock market gains momentum with tech rally. Stocks to watch: Woodside Energy, Transurban, Brainchip.
S&P rose more than 1%, small cap index rose 1.7%, Tesla and Nvidia rose about 5% each, while commodity fell again.
U.S. stocks rose with the S&P up over 1%, the largest increase in seven weeks, and the NASDAQ up 1.6%. Funds have returned to small cap stocks, with the small cap index rising 1.7%. Investors bought U.S. tech stocks on the dip, and only Apple and Amazon among the seven tech giants declined, with Tesla and Nvidia both up about 5%. Cybersecurity leader CrowdStrike, which triggered a global IT failure, fell more than 13%, nearly erasing this year's gains. Some Trump trades cooled down, with electric cars and photovoltaic stocks rising and petroleum stocks falling. There was a new variable in the U.S. presidential election over the weekend, and safe-haven demand initially pulled down U.S. bond yields and the dollar while boosting gold, but panic subsided and the VIX volatility index fell 10% from its highest level in nearly three months. The China concept stock index surged 2.8%, while offshore Renminbi fell more than 110 points to a two-week low. Oil prices initially fell more than 1%, and metal fell sharply.
Notable Earnings After Tuesday's Close
Nvidia, Tesla, Rest of Mag 7 Lift Stock Market Higher | Wall Street Today
The S&P 500 Index recovered from its biggest weekly slump since April, and the Nasdaq Composite Index rebounded, buoyed by gains in Nvidia, Tesla and the rest of their Magnificent Seven peers.
General Motors Declares $0.12 Dividend