Why Tesla Stock Is Surging Today
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Tesla's stock surged 8% in Wednesday's trading, driven by better-than-expected inflation data and support from President Trump. The Consumer Price Index (CPI) report showed a 2.8% year-over-year increase, lower than economists' predictions, raising hopes for potential interest rate cuts by the Federal Reserve. Trump's recent endorsement of Tesla, including plans to purchase a Model S, has further boosted investor sentiment. This positive momentum comes after a turbulent start to the week due to recession fears, with Tesla outperforming the S&P 500 and Nasdaq Composite indices.
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