Tesla's rally Gives SP 500 a boost on tuesday

After spending the latter part of last week in the red, U.S. indices opened strong on Monday.

The major indices (NASDAQ, S&P 500 & Dow Jones) were all in the green as of writing, benefiting from a positive showing from Tesla, which saw its share price up by over 5%.

Today’s move comes after influential investment firm, Ark Invest released a report that stated it believed $TSLA’s price per share will hit $3,000 by 2025.

Ark, which is run by Cathie Wood, currently owns over $2.5 billion of Tesla stock.

Typically, some would typically see this as a conflict of interest, however due to the companies track record, markets have reacted with a degree of confidence in the report.

U.S. Airline travel hits 1-year high

Data released today showed that the number of U.S. passengers travelling via air has hit its highest level in the last 12-months.

Figures released by the TSA or Transportation Security Administration, showed that over 1.5 million passengers were screened for travel on Sunday.

This is the first time since March 2020 that daily screenings have hit this level and provides a boost to the U.S. Airline industry.

The total number of U.S. air passengers was down by 60% last year as a result of the pandemic, however with President Biden hoping to get all adults vaccinated by 4th July, the industry may soon be returning to full capacity.

Britain’s COVID-19 deaths fall to 6-month low

On the other side of the pond, the good COVID-19 news continues, with the United Kingdom reporting its daily death rate has fallen to a 6-month low.

The total number of deaths reported in the last 24-hours was 17, which is the lowest level since September 28th.

Britain has also administered the first jab of the COVID-19 vaccine to 28 million people, which is close to half of its population.

Non-essential shops are now set to be re-opened on April 12th, with two households allowed to gather indoors from next Monday.

The FTSE 100 closed 0.26% higher to start the week.

Quote of the day – “Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough.”

– Yvan Byeajee

Eliman Dambell

Senior Market Analyst
edambell@tvmarkets.com