U.S. Stocks Open Higher on Friday; Tesla Drops 2% After Soaring 22% Yesterday

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U.S. Stocks Open Higher on Friday; Tesla Drops 2% After Soaring 22% Yesterday

Tiger Newspress10-25 21:30

US stocks rose Friday after the S&P 500 ended a three-day negative streak, while investors look to end a volatile week on a high note.

Those moves follow a mixed day on Wall Street. The Nasdaq joined the S&P 500 in finishing the session higher, with both lifted by Tesla’s post-earnings rally. Shares of the electric vehicle manufacturer notched their best day in more than a decade as investors cheered the firm’s stronger-than-expected profit and CEO Elon Musk’s expectations for vehicle growth next year.

Tesla was falling 2% in morning trading after shares jumped 22% on Thursday for the stock’s best one-day gain in more than 11 years following better-than-expected quarterly earnings and operating profit margins from the electric-vehicle maker. Tesla’s market capitalization soared $150.3 billion on Thursday, a record for the company, according to Dow Jones Market Data. Tesla closed Thursday with a market value of $836.2 billion.

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