Tesla hits $US1 trillion on Hertz bulk EV order, pushing Wall Street higher

Tesla hits $US1 trillion on Hertz bulk EV order, pushing Wall Street higher

Wall Street, Dow Jones

25/10/2021 11:52:00 PM

Tesla hits $US1 trillion on Hertz bulk EV order, pushing Wall Street higher

The electric car maker's stock has pushed Wall Street higher and the Australian market is set to follow its good fortunes.

Key points:Wall Street is buoyed by the Nasdaq rising 0.9 per centThe Nasdaq rise is fuelled by a 15 per cent gain by TeslaThe ASX is set to follow US marketsThe Nasdaq — which includes Tesla's stock — closed 0.9 per cent higher, while the other two indexes finished up too.

The ASX 200 is set to follow, with futures up 0.2 per cent at 7:15am AEST.Tesla's market value hit the benchmark after landing its biggest ever order for its electric vehicles (EVs).Rental car company Hertz is buying 100,000 Teslas.Tesla shares surged almost 15 per cent to $US1,045.

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Tesla's market value has accelerated past $US1 trillion after a bulk order of its electric vehicles, pushing Wall Street overall higher. Key points: Wall Street is buoyed by the Nasdaq rising 0.9 per cent The Nasdaq rise is fuelled by a 15 per cent gain by Tesla The ASX is set to follow US markets The Nasdaq — which includes Tesla's stock — closed 0.9 per cent higher, while the other two indexes finished up too. The ASX 200 is set to follow, with futures up 0.2 per cent at 7:15am AEST. Tesla's market value hit the benchmark after landing its biggest ever order for its electric vehicles (EVs). Rental car company Hertz is buying 100,000 Teslas. Tesla shares surged almost 15 per cent to $US1,045. "Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," Hertz interim chief executive Mark Fields said. The rental car company Hertz has ordered 100,000 cars from Tesla for its fleet. ( AP: Jon Super ) Meanwhile, one of the other biggest stocks in the US isn't faring as well on Tuesday. Facebook is forecasting that its fourth quarter revenue will be below estimates. That's off the back of Apple's new privacy rules, which the social media giant said kept digital advertisers from using its advertising services. The company expects fourth-quarter revenue to be in a range of $US31.5 billion to $US34 billion. Analysts had forecast $US34.84 billion. More to come.