Wall St ends slightly higher in shortened session, Tesla jumps

New York, July 3 (BNA): Wall Street’s major indexes ended with slight gains in a shorter session on Monday, supported by a rally in Tesla and strength in bank stocks as the second half of the year began with a weak currency. .

Tesla shares jumped 6.9% as the electric car maker said it delivered a record number of cars in the second quarter, according to Reuters.

Shares of major banks rose after the companies raised dividend payments as they navigated the Fed’s annual health check.

Trading volumes were below average as the stock market closed at 1 p.m. ET ahead of the Fourth of July Independence Day holiday on Tuesday.

The Dow Jones Industrial Average rose 10.87 points, or 0.03%, to 34,418.47 points. The S&P 500 was up 5.21 points, or 0.12%, at 4,455.59. The Nasdaq Composite Index rose 28.85 points, or 0.21%, to 13,816.77 points.

Stocks closed higher on Friday, closing a strong first half of the year for the major stock indices. The Nasdaq Composite posted its biggest first-half gain in 40 years, rising 31.7%.

Huge gains for blue-chip stocks have led the indices this year, but recent indices have shown an expanding rally.

A widely watched section of the US Treasury yield curve hit its deepest reversal Monday since 1981, reflecting financial markets’ worries about the economy.

US manufacturing fell further in June, a survey showed, reaching levels last seen when the economy was reeling from the initial wave of the COVID-19 pandemic.

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About 6 billion shares traded on US exchanges, compared to the daily average of 11 billion shares over the last 20 sessions.

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