Stocks closed modestly higher on Monday as investors looked toward another packed week of earnings and economic reports.
U.S. stocks ended fractionally higher on Monday, as investors awaited another busy week of earnings and economic data, including a Federal Reserve decision on interest rates.
The Dow Jones Industrial Average, S&P 500 and Nasdaq each closed up about 0.3 percent.
Among the day’s biggest movers was Tesla, which popped 15 percent after the automaker cleared a major hurdle in deploying its advanced self-driving technology in China. CEO Elon Musk jetted to Beijing over the weekend for a surprise visit with Premier Li Qiang, who reports directly to Xi Jinping. The trip was a success as Li called Tesla a «successful model» for collaboration between the two superpowers. Musk left with Beijing’s blessing to starting rolling out «Full Self-Driving» software in the country. Separately, Tesla struck a deal with Chinese tech giant Baidu to integrate its advanced mapping and navigation data into its autonomous driving tech.
Shares of Apple also jumped more than 2 percent after an analyst upgrade. The stock has been under pressure of late — down some 6 percent on the year — amid concerns of a slowdown in iPhone sales in China and less-than-exuberant early sales of its latest product, the Vision Pro.
