Why Did Tesla Stock (TSLA) Jump Today?
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Tesla's stock (TSLA) rose 6% on Thursday, influenced by a broader market increase as the S&P 500 and Nasdaq Composite gained. The rise followed the release of consumer price index (CPI) data and unemployment figures, which fueled investor optimism about potential rate cuts by the Federal Reserve. Despite the CPI being above the Fed's target, the job market shows weakness, with rising unemployment claims. Tesla's high forward P/E ratio of over 136 raises concerns about its valuation amidst declining sales.
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