S&P 500 closes within 0.5% of a record as markets climb; Tesla teases Wall Street with take-private talk
U.S. stocks finished higher Tuesday, with the the main benchmarks notching multisession win streaks, as Wall Streets focused on solid corporate quarterly results over worries on U.S. trade relations with international counterparts. The Dow Jones Industrial Average DJIA, +0.50% closed up 127 points, or 0.5%, at 25,628, its highest level since Feb. 26, according to FactSet data, while the S&P 500 index SPX, +0.28% notched a 0.3% gain to 2,858, within 0.5% of its Jan. 26 all-time high, boosted by an advance in the energy sector XLE, +0.74% up 0.7%, and industrials, which also gained by about that much on the day. The Nasdaq Composite Index rose 0.3% at 7,883. Wall Street watched one of the market’s most closely followed stocks, Tesla Inc. TSLA, +10.99% after outspoken CEO Elon Musk suggested that the electric-car maker was considering taking the company out of the public eye, in a so-called take-private transaction. He later made public a letter that indicated that no deal had been secured. However, shares of the company finished the day up 11%, after spending much of Tuesday afternoon halted ahead of the release of Musk’s missive discussing a possible transaction.