What's Going On With Tesla Stock Today

What's Going On With Tesla Stock Today

Tesla Inc TSLA shares are trading higher by 4.96% to $254.43 Tuesday morning as EV stocks rebound amid overall market strength, with strength in Rivian also helping to lift the sector. Additionally, Goldman Sachs maintained a Buy rating on the stock. 

Tesla shares were otherwise trading sharply lower Monday after the company reported third-quarter vehicle deliveries below Wall Street expectations...Read More

Major indices are also higher as Treasury yields fall and as stocks rebound following September's selloff. Ongoing Fed policy tightening and inflation concerns have otherwise weighed on the sector and consumer spending outlook.

A drop in treasury yields has helped lift the broader market in today's session as the 10-year Treasury yield hit an intraday low of 3.583% Tuesday morning. The intraday drop in U.S. Treasury yields benefits companies such that, when interest rates otherwise rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.

Equities fell in September due to concerns over inflation, contractionary Federal Reserve policy and a potential recession. An economic slowdown could negatively impact discretionary spending.

See Also: Why Kalvista Pharmaceuticals Shares Are Down Over 50%

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