TSLA - What Ignited Tesla's Electrifying Tuesday Rally? Analyst Spotlights 2 Key Catalysts Behind Surge | Benzinga
Tesla, Inc. (NASDAQ:TSLA) surged ahead on Tuesday, overshadowing other mega-cap stocks, and Gary Black of Future Fund examined the factors underpinning this remarkable performance.
The Impetus: Tesla’s stock gained traction from Tuesday’s Job Openings and Labor Turnover report, which revealed job openings hitting a two-year low of 8.87 million, according to Black.
This development led bond traders to bolster their bets on a Federal Reserve pause in rate hikes for September. Consequently, the 10-year Treasury note yield experienced an 8.6 basis point drop to 4.116%, he noted.
See Also: Everything You Need To Know About Tesla Stock
Unleashing Growth: The rally particularly favored growth stocks, with heightened interest in long-term prospects for companies such ...