Wall Street's New Peaks: Tesla Surges Amid Economic Data Anticipation

Wall Street's main indexes experienced mixed outcomes with Tesla's stocks soaring as economic data looms. Traders predict potential financial gains from Trump's influence, especially for smaller companies. Tesla's market value hit $1.1 trillion, while crypto stocks rallied. Investors await key data impacting the Federal Reserve's interest rate strategies.

Wall Street's primary indexes exhibited mixed results on Monday, closely approaching record highs, driven by a significant surge in Tesla's stock. This development comes ahead of forthcoming economic data that may affect the Federal Reserve's adjustments to interest rates.

Post-election optimism has boosted several stocks, with traders speculating on financial gains from Donald Trump's anticipated return to the White House. Tesla experienced an almost 9% increase, reaching a market valuation of $1.1 trillion, as bets rise on CEO Elon Musk's favorable ties with Trump.

In the broader market, over $56 billion worth of Tesla shares changed hands by mid-afternoon, comprising a quarter of all S&P 500 trades. Cryptocurrency stocks saw a lift as bitcoin hit a record $84,000, while smaller companies are positioned as beneficiaries of potential tax cuts. Investors keenly await key data this week for further economic insights.

(With inputs from agencies.)