The U.S. inflation data for November met expectations, clearing the way for the Federal Reserve to cut interest rates again at next week's meeting. The Nasdaq index rose 1.77%, breaking through 20,000 points, setting a new historical high and closing record.
Tech giants collectively rose, with Tesla up nearly 6%, reaching a historical high and raising its total market value to $1.36 trillion, expanding its year-to-date gain to 71%, second only to Nvidia (181%) and Meta (79%).
Tesla's performance was lackluster in the first three quarters of this year, particularly struggling in the first quarter, with a cumulative decline of nearly 30%, marking the worst quarter since the end of 2022.
After a difficult start, Tesla experienced a turnaround in the fourth quarter, rising 62% since October, far surpassing the other companies among the seven giants.
Image: Tesla leads the seven giants since October
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Tesla's strength has helped Elon Musk become the first person with a net worth of $400 billion, setting a new milestone for the world's richest person. Recent catalysts also include SpaceX and its investors agreeing to purchase $1.25 billion worth of stock from employees and other insiders, valuing SpaceX at approximately $350 billion.
Musk, who has made the right bets, is now in high spirits, what changes have occurred in Tesla's story?
Image: Bloomberg Billionaires Index
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In November, U.S. inflation data met expectations, the Nasdaq index rose by 1.77%, and Tesla's stock price increased by nearly 6%, with a market capitalization reaching $1.36 trillion, a year-to-date increase of 71%. Tesla rebounded in the fourth quarter, rising 62% since October. Musk's net worth reached $400 billion, making him the world's richest person. SpaceX reached a $1.25 billion stock deal with investors, with a valuation of approximately $350 billion

- November's U.S. inflation data met expectations, clearing the way for the Federal Reserve to consider another rate cut at next week's meeting.  
- The Nasdaq index rose 1.77%, surpassing 20,000 points, with Tesla's stock climbing nearly 6% to a record high, boosting its market value to $1.36 trillion and marking a 71% increase for the year.  
- Tesla's strong performance in the fourth quarter, following a challenging first quarter, has significantly contributed to Elon Musk becoming the world's first billionaire with a net worth of $400 billion.

Historical high! Has Tesla done it again?