Google and Tesla Wrap up a Magnificent Day

Dow Jones04:44

It was a good day for the Magnificent Seven-at least some of them.

Tesla stock ended Monday's session up 8.5%, perhaps riding the coat tails of SpaceX, which was up 7.1%. The two Elon Musk companies are tightly linked, jointly developing a chip fabrication complex in Texas. At least one analyst has predicted they will combine.

Meanwhile, Google-parent Alphabet closed up 4.8% after its addition to the Dow Jones Industrial Average today. Even though other indexes such as the S&P 500 have more money following them than the Dow, the change means managers of funds that track the blue-chip index must buy Alphabet stock.

-- Amazon, Meta and Nvidia also notched decent, if not magnificent, gains, ending the day up 3.2%, 2.2% and 1.3% respectively. Microsoft lost 1.2% and Apple slipped 0.7%.

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