Wall Street rises on strong earnings from Tesla, airlines; Dow up 250 pts
U.S. stocks rose on Thursday as a slew of upbeat earnings from companies including Tesla outweighed concerns about aggressive interest rates hikes that have kept bond yields elevated.
The world’s most valuable automaker jumped 9% after its results beat Wall Street expectations as higher prices helped it overcome supply-chain chaos and rising costs.
United Airlines Holdings Inc and American Airlines Group Inc surged 11.8% and 7.7%, respectively, after they predicted a return to profit in the current quarter due to booming travel demand.
The wider S&P 1500 Airlines Index jumped 6.3% to its highest level since mid-November.
