Shares in Tesla reached a new record high above $400 for the first time ever Thursday and much more on the Closing Bell on Money & Markets.
Elon Musk is seeing his income go sky-high, if not his cash on hand.
On Thursday, shares of Musk’s Tesla Inc. (Nasdaq: TSLA) surpassed $400 for the first time and more than doubled off their 52-week low of $178 on June 3.
Tesla shares were as high as $406 in midday trading Thursday but settled to around $404 later in the afternoon.
Money and Markets: Closing Bell
S&P 500: 3,205 (+14 points, +0.5%)
DOW: 28,335 (+137 points, +0.5%)
NASDAQ: 8,879 (+59 points, +0.7%)
GOLD: $1,478.96 (+6.44, +0.4%*)
BITCOIN: $7,152.32 (+0.1%*)
U.S. 10-YEAR YIELD:1.91%
*as of 4:18 p.m. EST
Golden Nuggets
Despite solid market performance Thursday (see the Stock Market Update below), precious metals also had a good day.
Gold was trading up 0.4% after taking a tumble Wednesday while silver was up nearly 0.6% in afternoon trading.
Platinum moved up 0.2% while palladium continued its rise, gaining nearly 0.6%.
Cannabis Corner
Big cannabis stocks saw solid gains Thursday. Aurora Cannabis Inc. (NYSE: ACB) jumped more than 6% through afternoon trading before falling back down just below a 4% gain just minutes before the closing bell.
Fellow cannabis bigwig Canopy Growth Corp. (NYSE: CGC) moved up nearly 3% before settling in just under a 2% gain, while Cronos Group Inc. (Nasdaq: CRON) jumped nearly 4%.
In other cannabis market news, financial analytics firm S3 Partners found cannabis short-sellers have made nearly $1 billion, thanks to the downturn of pot stocks in 2019, BNNBloomberg reported.
Stock Market Update
U.S. markets were oblivious to impeachment news Thursday as all major indexes were up in afternoon trading.
The S&P 500 rose 14 points to 3,205 level, making it the sixth day of gains in the last seven days and another record high for the index.
The Dow Jones Industrial Average rose 0.5%, to 28,375, and the Nasdaq composite rose 0.7% to 8,887.
TODAY’S BIGGEST WINNERS:
(as of 3:15 p.m. EST)
Conagra Brands Inc. (NYSE: CAG) +16.2%
Micron Technology Inc. (Nasdaq: MU) +3.1%
Netflix Inc. (Nasdaq: NFLX) +3.3%
Cisco Systems Inc. (Nasdaq: CSCO) +2.6%
Western Digital Corp. (Nasdaq: WDC) +2.8%
TODAY’S BIGGEST LOSERS:
(as of 3:15 p.m. EST)
Darden Restaurants Inc. (NYSE: DRI) –5.3%
Expedia Group Inc. (Nasdaq: EXPE) –1.1%
Exelon Corp. (Nasdaq: EXC) –1.2%
Caterpillar Inc. (NYSE: CAT) –1.6%
Abiomed Inc. (Nasdaq: ABMD) –3.8%
Check back for the most important news and numbers each day after the Closing Bell, only on Money and Markets.