– He’s back – E24

The electric car manufacturer is said to be close to rolling out the driving assistant system in China, after Elon Musk was reportedly in the country for a quick visit.

At 6:40 p.m., it looks like this on Wall Street:

• The Dow Jones index is up 0.30 percent
• The technology index Nasdaq is up 0.31 percent
• The collective index S&P 500 is up 0.29 percent

Thus, the mood is calm at the start of another results-heavy week, which will also be characterized by an interest rate meeting and key figures.

Tesla takes off

Tesla is in the spotlight after, according to anonymous sources, the company is said to have received tentative approval from the Chinese authorities for the rollout of its driving assistant system in the country. There must be several conditions for the approval to be in order, the sources tell Bloomberg. The news has not been confirmed or commented on by Tesla.

Tesla shares climb more than 16 percent on Wall Street at 6:40 p.m.

The news comes after Tesla CEO Elon Musk paid a quick visit to China at the weekend. Then Tesla will have come to an agreement with the Chinese tech giant Baidu on a map agreement, at the same time that Tesla will have met demands for how it treats data security.

– He is back, writes Morgan Stanley analyst Adam Jones in a note on Monday, according to Investing, with reference to the fact that several people have expressed concern about Musk’s presence in Tesla recently.

Also read: The world is still on fire (+)

Interest rate meeting

Last week was characterized by results from many of the large technology companies.

Microsoft, Alphabet, Meta and Tesla all presented quarterly figures last week.

On Wednesday this week, the US central bank, the Fed, will hold an interest rate meeting, and there is great excitement about what central bank chief Jerome Powell will signal about interest rate cuts.

– At the start of the year, the whole picture was an expectation and belief in interest rate cuts in the USA. This also drove the stock market. Now it will be exciting to follow the Nonfarm figures coming this week. They will drive this further. I have faith in interest rate cuts in the US this year, said Chief Economist Jan Ludvig Andreassen at Eika Gruppen to E24 yesterday.

The jobs figures for the US, or nonfarm payrolls, are often referred to as the most important figure of the month.