Wall Street started the week on a positive note, with all the major stock averages posting modest yet encouraging gains on Monday.
Highlighting the day, Tesla Inc. (NASDAQ:TSLA) soared by as much as 10%, marking its most robust daily increase since the end of January 2023. The boost for Elon Musk’s enterprise came after Morgan Stanley upgraded the company from Marketweight to Overweight, raising the price target from $250 to $400 per share.
Qualcomm Inc. (NASDAQ:QCOM) climbed by over 3.5%, leading the pack among semiconductor stocks. This rise was spurred by the company securing of a 3-year 5G supply agreement with Apple Inc. (NASDAQ:AAPL).
Investors are eagerly anticipating the release of the U.S. CPI report on Wednesday, Sept. 13. The headline inflation rate is expected to jump to 3.6% for August.
Cues From Monday’s Trading:
The S&P 500 rose 0.4%, while the Dow Jones ticked 0.2% higher. Tech stocks in the Nasdaq 100 outperformed, up 0.6%, while small caps in the Russell 2000 rose 0.3%.
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