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Tesla Soars to Record High, Boosting Nasdaq
17 Dec
Summary
- Tesla shares hit a record high, aiding Nasdaq's recovery.
- US added 64,000 jobs in November; unemployment rose to 4.6%.
- Crude oil prices fell below $55 per barrel amid supply concerns.
Tesla shares concluded Tuesday at an all-time high, a surge that provided crucial support for the Nasdaq index's recovery. The Nasdaq managed to close in positive territory, marking a gain of nearly a quarter of a percent, while other major tech stocks saw little movement.
The US economy's November jobs report revealed an addition of 64,000 jobs, exceeding initial estimates. However, this positive figure was tempered by a rise in the unemployment rate to 4.6%, its highest level in four years. The October jobs figure was also revised downwards significantly.
In commodities, US crude oil prices dipped below the $55 per barrel mark, a level not seen since early 2021, influenced by supply considerations and potential resolutions in the Russia-Ukraine conflict. Attention now shifts to upcoming retail inflation and jobless claims data.
