Tech Stocks Up in Late Trading as Tesla Surges 9%: Markets Wrap
- Tesla posts higher-than-expected profit on delivery growth
- Treasuries slide for third straight day as Fed-cut bets wane
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Big tech climbed in late hours as Tesla Inc. kicked off the “Magnificent Seven” earnings season with solid results. Bond yields rose on bets the Federal Reserve will take a measured approach on rate cuts.
Following a stock-market selloff on Wednesday, Wall Street pointed to a rebound led by its most-influential group. A $300 billion exchange-traded fund tracking the tech-heavy Nasdaq 100 (QQQ) gained after the close of regular trading. Tesla jumped 9% as Elon Musk’s electric-vehicle giant also indicated it expects another strong quarter of deliveries, saying it anticipates higher volumes for the full year.