U.S. stock indexes edged higher in choppy trade on Monday, led by gains in Tesla and PayPal shares, while investors geared up for earnings reports from heavyweight technology companies this week that could provide direction to the markets. Tesla Inc. rose 4.5 percent to a record high after car rental firm Hertz placed an order for 100,000 Tesla cars, while Morgan Stanley boosted its price target on the electric-car maker’s stock. Its shares provided the biggest boost to the S&P 500 and the Nasdaq, followed by PayPal Inc., which added 4.9 percent after the payments company scrapped its plans to buy the digital pinboard site Pinterest Inc. for as much as $45 billion. Shares of Pinterest plunged 13.6 percent. Five of the 11 major S&P sectors advanced in early trading. Energy shares outperformed with a 1.9 percent gain. Facebook Inc., which will kick off quarterly results for mega-cap technology giants …
Tesla, PayPal Lift S&P 500 and Nasdaq Ahead of Big Tech Earnings
October 25, 2021
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