{"id":117708,"title":"Tesla shares climb after Musk appointed as Efficiency Tsar","publisher":"Share Talk","author":"sharetalk","published":"2024-11-13T15:25:32+00:00","modified":"2024-11-13T15:25:32+00:00","canonical_url":"https://www.share-talk.com/tesla-shares-climb-after-musk-appointed-as-efficiency-tsar/","markdown_url":"https://www.share-talk.com/tesla-shares-climb-after-musk-appointed-as-efficiency-tsar.md","json_url":"https://www.share-talk.com/tesla-shares-climb-after-musk-appointed-as-efficiency-tsar.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Donald Trump","Dow Jones","Elon Musk","President-elect","Republican","US stock indexes","Wall Street","White House"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/11/DOGE.webp?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"Tesla shares jumped in premarket trading after Elon Musk was appointed head of Donald Trump’s new Department of Government Efficiency.\n\nThe electric vehicle maker rose 2.6% ahead of the market open, rebounding from a 6.2% drop on Tuesday. Tesla’s stock has surged over 30% since Trump’s election victory, bolstered by Musk’s vocal support and financial backing of the Republican’s campaign for the White House.\n\n[embedpress]https://x.com/ElonFactsX/status/1856539340869894385[/embedpress]\n\nMeanwhile, broader US stock indexes were under pressure as rising Treasury yields weighed on interest rate-sensitive equities.\n\nAll three major Wall Street indexes ended lower on Tuesday, losing momentum after a strong post-election rally. The benchmark US 10-year Treasury yield climbed above 4.4% amid concerns that the President-elect’s policies could drive up inflation.\n\n**US stocks edge higher as inflation data meets expectations.**\n\nWall Street’s major indexes remained steady on Wednesday after consumer price inflation rose in line with forecasts, reinforcing expectations for a Federal Reserve rate cut in December.\n\nThe Dow Jones Industrial Average dipped 30.5 points, or 0.1%, at the open to 43,880.46.\n\nThe S&P 500 gained 1.8 points, or less than 0.1%, to 5,985.75, while the Nasdaq Composite added 5.1 points, or less than 0.1%, to 19,286.46."}