Dow, S&P hit records as Tesla tops $1T
Hertz places order for 100,000 Teslas: report
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U.S. stocks marched to record highs as investors digested another batch of earnings and oil hit a seven-year high.
The Dow Jones Industrial Average rose 66 points, or 0.19%, while the S&P 500 jumped 0.48% as both indexes finished at all-time highs. The Nasdaq Composite gained 0.9% to finish less than 1% below its own record peak.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43910.98 | -382.15 | -0.86% |
| SP500 | S&P 500 | 5983.99 | -17.36 | -0.29% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19281.401247 | -17.36 | -0.09% |
In stocks, PayPal Inc. said it is not pursuing a deal for pinboard site Pinterest Inc. The announcement comes after several media outlets reported last week that PayPal was in talks to buy Pinterest for $45 billion, or $70 per share, mostly in stock.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PYPL | PAYPAL HOLDINGS INC. | 86.39 | -0.55 | -0.63% |
| PINS | PINTEREST INC. | 30.67 | +0.28 | +0.92% |
Hertz Global Holdings Inc. placed an order for 100,000 Teslas, the single-biggest order for the electric-car maker’s vehicles, according to Bloomberg News, citing people with knowledge of the matter.
Tesla topped a $1 trillion market capitalization for the first time, becoming the sixth U.S. company to reach the milestone. Other companies that have surpassed the mark include Apple Inc. and Microsoft Corp.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HTZZ | NO DATA AVAILABLE | - | - | - |
| TSLA | TESLA INC. | 328.64 | -21.36 | -6.10% |
Kimberly-Clark Corp. missed on earnings and beat on sales with management warning it will raise prices further to mitigate the impact of "significant inflation" on its margins.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| KMB | KIMBERLY-CLARK CORP. | 132.13 | -1.14 | -0.86% |
Restaurant Brands International Inc., the parent company of Burger King, reported mixed quarterly results and warned labor shortages were weighing on sales.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| QSR | RESTAURANT BRANDS INTERNATIONAL INC. | 67.37 | -0.51 | -0.75% |
In commodities, West Texas Intermediate crude oil finished unchanged at $83.76 a barrel after earlier climbing above $85 for the first time in seven years. Gold, meanwhile, edged up $10.50 to $1,806 an ounce.
Overseas markets were mixed.
European trading was choppy with France’s CAC 30 slipping 0.31% while Germany’s DAX 30 and Britain’s FTSE 100 advanced 0.36% and 0.25%, respectively.
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In Asia, Japan’s Nikkei 225 slid 0.71%, Hong Kong’s Hang Seng index inched up 0.02% and China’s Shanghai Composite gained 0.76%.