A minute after trading took off on the New York stock exchange, the Nasdaq index has risen 0.4 percent and stands at 15,998.36 points, while the Dow Jones rises 0.2 percent to 38,314.94 points. The S&P 500 rose 0.3 percent to 5,117.11 points.
The ten-year US government bond yield is at 4.64 per cent, while the VIX index, also called the fear index, rises 1.1 per cent to 15.19.
“The long-term interest rates should not rise much more before it becomes a red light”, writes head of analysis Petter Slyngstadli in a report from Norne Securities.
Tesla
The Tesla share rises a whopping 11.4 percent after the electric car manufacturer reached a significant milestone for the rollout of its technology for self-driving cars in China. On Sunday, Tesla reported, according to CNBC, that local Chinese authorities had removed restrictions on their cars after Tesla passed the country’s data security requirements.
Tesla CEO Elon Musk personally went to Beijing, where the goal was to meet with high-ranking Chinese representatives to discuss the rollout of the Full-Self Driving (FSD) software in China.
Fed
This week, the stage is once again set for an interest rate meeting at the US central bank.
“Since the last interest rate meeting in March, it has become even clearer to Powell that inflation is somewhat more tenacious and the surprisingly strong price increase at the start of the year was not just a “bump in the road”. Powell has recognized that strong inflation figures can postpone interest rate cuts, given that the real economy is still doing so well,” Handelsbanken writes in an update.
