Dow Rises on Wood’s $28M Tesla Buy; Trump Stock Surges 50%

Dow Jones Industrial Average and other major indexes climbed on Tuesday, aiming to rebound from Monday’s losses. Famed investor Cathie Wood bought more than $28 million worth of Tesla (TSLA). Additionally, former President Donald Trump’s social media platform Truth Social soared 50% in its debut on the stock market today.

In morning trading, the Dow Jones Industrial Average advanced by 0.1%, with the S&P 500 also posting a gain of 0.3%. The Nasdaq composite, known for its tech focus, surged 0.5% after the opening bell.Meanwhile, the 10-year Treasury yield rose to 4.26%.

Oil prices saw a slight increase, with West Texas Intermediate futures climbing by 0.4% to surpass $82 a barrel.Among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) and the SPDR S&P 500 ETF (SPY) both experienced gains of 0.3%.
Today’s Stock Market: Cathie Wood Purchases Tesla, Trump Makes Debut
Nvidia, a member of the “Magnificent Seven” stocks, saw a 0.2% rise in Tuesday morning trading, aiming to extend its winning streak to seven sessions and approach new highs.

As an IBD Leaderboard stock, Nvidia continues to show strength.On Monday, Cathie Wood’s Ark Invest funds acquired over 163,000 shares of Tesla stock, totaling approximately $28.2 million based on the closing price, as per daily trade disclosures.

Despite a two-day decline, Tesla stock surged more than 5% on Tuesday following Chief Executive Elon Musk’s announcement of a one-month free trial for Tesla’s Full Self Driving autonomous-driving software.

In other news, Digital World Acquisition has rebranded to Trump Media & Technology Group (DJT) after successfully merging with Trump’s technology and social media platform. Trading under the ticker symbols “DJT” and “DJTWW” on the Nasdaq, Trump Media shares surged 50% in Tuesday morning trade.

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