Tesla's Triumph Sparks Market Rebound Despite Economic Jitters

The S&P 500 and Nasdaq saw a potential rise as Tesla's optimistic sales forecast boosted market sentiment, rebounding from a previous selloff. Tesla's stocks surged over 14% premarket following strong third-quarter profits and predictions of significant sales growth next year. Boeing's shares dipped due to worker strikes.

The U.S. stock market is poised for gains as Tesla's promising financial forecast injected optimism after a prior downturn. Shares of Tesla, the electric vehicle giant, shot up nearly 14.3% in premarket trading after announcing a robust third-quarter profit and projecting a 20% to 30% rise in sales next year.

This rally lifted sentiments across other major tech firms, including Nvidia, Amazon, and Meta Platforms, following steep losses in previous trades. Meanwhile, Boeing faced challenges as factory workers rejected its latest contract proposal, maintaining their strike and causing the company's stock to drop by 2.2%.

On the economic side, weekly jobless claims fell, and about 32% of S&P 500 firms reported earnings this quarter, with 79% exceeding expectations. The anticipation of future megacap earnings and economic data continues to shape investor decisions amid global economic uncertainties.

(With inputs from agencies.)