---
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"
date: 2024-11-13
canonical: "https://www.share-talk.com/tesla-shares-climb-after-musk-appointed-as-efficiency-tsar/"
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"]
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"
---

# Tesla shares climb after Musk appointed as Efficiency Tsar

**Published:** November 13, 2024
**Author:** sharetalk
**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)

---

Tesla shares jumped in premarket trading after Elon Musk was appointed head of Donald Trump’s new Department of Government Efficiency.

The 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.

[embedpress]https://x.com/ElonFactsX/status/1856539340869894385[/embedpress]

Meanwhile, broader US stock indexes were under pressure as rising Treasury yields weighed on interest rate-sensitive equities.

All 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.

**US stocks edge higher as inflation data meets expectations.**

Wall 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.

The Dow Jones Industrial Average dipped 30.5 points, or 0.1%, at the open to 43,880.46.

The 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.

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