S&P 500 and Nasdaq Hit Record Highs Amid Tesla Surge and Inflation Progress
Fed Chair Powell highlights disinflationary trends, while Tesla's better-than-expected deliveries boost market confidence.
- The S&P 500 closed above 5,500 for the first time, with the Nasdaq also reaching a record high at 18,028.
- Tesla's stock jumped over 10% after exceeding second-quarter delivery expectations despite a year-over-year decline.
- Fed Chair Jerome Powell noted significant progress on inflation but indicated more evidence is needed before cutting rates.
- New job openings data showed an unexpected increase, suggesting resilience in the labor market.
- Oil prices remain volatile due to Hurricane Beryl and ongoing Middle East tensions.
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