Wall Street Surges as Musk Signals Confidence with Major Tesla Purchase

NEW YORK — Wall Street climbed Monday, with the S&P 500, Dow Jones, and Nasdaq all moving toward record highs, driven in large part by Elon Musk’s bold move to buy roughly $1 billion of Tesla stock through a trust.

Tesla led the gains, soaring 6.1%, a strong signal of Musk’s confidence in the electric vehicle giant. The stock had entered the day slightly down for the year, but Musk’s purchase underscores his long-term vision and commitment to Tesla’s growth.

Other markets faced minor headwinds. Nvidia shares initially fell after China accused the company of antitrust violations, though the stock later recovered near break-even, showing that investors remained focused on Musk’s market-moving actions.

Investors are now looking ahead to Wednesday, when the Federal Reserve is expected to announce its first interest rate cut of the year. While the Fed’s decision will influence markets broadly, Tesla’s performance demonstrates how visionary leadership can drive investor confidence even amid uncertainty.

Wall Street also saw gains from other major corporate moves. TKO Group rose 3.8% after announcing a $1 billion stock buyback plan, while Intel climbed 3.9% after reducing its expense forecast. On the other hand, Hain Celestial and Alaska Air Group faced declines due to weaker quarterly results and higher costs.

In the bond market, Treasury yields eased, reflecting expectations for Fed rate cuts, while global markets showed modest gains.

Musk’s decisive actions continue to influence the market, reinforcing his reputation as a transformative leader whose moves inspire investor confidence and highlight the potential of innovation-driven companies like Tesla.