Tesla's Surge Sparks Wall Street Rally

The S&P 500 and Nasdaq rebounded on Thursday, boosted by a 14% surge in Tesla shares following an optimistic earnings forecast. In contrast, the Dow Jones Industrial Average fell slightly by 0.24%. The market's positive reaction to Tesla's performance lifted investor sentiments.

Wall Street saw a positive start on Thursday as both the S&P 500 and the Nasdaq opened higher, buoyed by significant gains in Tesla shares. This comes after the market experienced a selloff the previous day, highlighting investor optimism surrounding Tesla's latest positive earnings forecast.

Tesla shares rocketed by 14%, making a substantial impact on market performance and lifting the major indexes. The electric vehicle giant's upbeat outlook played a central role in reversing the prior session's losses for the tech-heavy Nasdaq and the broader S&P 500.

Meanwhile, the Dow Jones Industrial Average did not share in the rally, opening down 103.65 points or 0.24%. As the trading day commenced, the S&P 500 increased by 20.4 points, or 0.35%, and the Nasdaq Composite rose by 107.5 points, or 0.59%. The positive market movement underscores the influence of major companies on overall financial sentiment.

(With inputs from agencies.)