Wall Street braces for trading surge as Tesla enters S&P 500
Wall Street is gearing up for an avalanche of trading and volatility ahead of Teslas entry into the S&P 500 index. That makes Tesla the biggest company ever to be added to the S&P 500, and its expected to trigger a torrent of trading by institutional investors in the process. Tesla’s sky high valuation means a move in its stock price will have more of an impact on the S&P 500 than most companies. Despite such warnings, Tesla will soon be a fixture in S&P 500 index funds operated by big fund managers. “Now that it’s part of the S&P 500, it will push more institutional investors to join the crowd,” Bell said.
A late slide erases gains for US indexes, leaving them mixed
The market had been up for much of the day after the government reported that retail sales rose in September for the fifth straight month. That report appeared to overshadow new data showed U.S. industrial production had its weakest showing last month since the spring. Despite the market’s downbeat finish, the major stock indexes have already recouped most of their losses from September's market swoon. Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. Several big companies report quarterly results next week, including Netflix, Coca-Cola, Tesla, Southwest Airlines and American Express.
S&P 500 rises, tops 3,200 for the first time as investors ignore Trump's impeachment
The real estate and consumer staples sectors led the S&P 500 higher, gaining 1.1% and 0.8%, respectively. The S&P 500 advanced 0.5% to 3,205.37, marking its first close above 3,200. Stocks rose to all-time highs on Thursday as investors looked past the news of President Donald Trump's impeachment by the House as well as mixed U.S. economic data. Because of this, the market's performance during Trump's impeachment process is tracking that of the time when former President Bill Clinton was impeached. The S&P 500 is up nearly 7% since House Speaker Nancy Pelosi launched a formal impeachment inquiry in September.cnbc.com