JUNE 24 — The Nasdaq and the S&P 500 indexes hit all-time highs on Thursday, boosted by shares of Tesla and other top-shelf technology firms as data showing fewer weekly jobless claims bolstered views of a steady recovery in the labor market.
Tesla Inc rose 3.8 per cent after Chief Executive Officer Elon Musk said he would list SpaceX’s space internet venture, Starlink, when its cash flow is reasonably predictable, adding that Tesla shareholders could get preference in investing. “How long it’s going to last is the question. If you see a rise in interest rates then some of that confidence maybe shaken.”
Focus was also on Biden’s meet with a bipartisan group of US senators on Thursday to discuss their proposed framework for an infrastructure bill as he looks to push a large-scale spending package through Congress despite Republican opposition. MGM Resorts International rose 3.8 per cent after Deutsche Bank upgraded the casino operator’s stock to “buy” from “hold”.
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