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Tesla gained 6.1% in premarket trading after the EV maker's
delivery numbers in the second quarter topped market estimates
following incentives and increased discounts.
All three major U.S. indexes defied recession fears and
uncertainty from the U.S. banking crisis to end the first half
of the year on a positive note, with the Nasdaq Composite
rallying 31.7% to its biggest first-half increase in four
decades.
"Powered by the AI frenzy of enthusiasm, a handful of technology
firms have become money magnets, deflecting any concerns about
the impact of high interest rates and banking turmoil," said
Susannah Streeter, head of money and markets at Hargreaves
Lansdown.
"The second half of the year is still set to be dominated by
speculation over just how high interest rates will go and how
long they will stay there."
Investors awaited the minutes of the Federal Reserve's last
policy meeting, out on Wednesday, for cues on the central bank's
monetary tightening path and why the Fed decided to pause rate
hikes.
At 05:05 a.m. ET, Dow e-minis were down 36 points, or 0.1%, S&P
500 e-minis were up 2.5 points, or 0.06%, and Nasdaq 100 e-minis
were up 42.25 points, or 0.28%.
Markets will be closed on Tuesday on account of the Independence
Day holiday.
Other closely watched U.S. data this week includes surveys on
manufacturing and services, job openings and the June payrolls
report.
Among other movers, Apple slipped 0.1%, after a strong rally
last week that helped the world's most-valuable company hit
market capitalization above $3 trillion on Friday.
U.S.-listed shares of Chinese carmaker Xpeng jumped 10.8% after
reporting that its second quarter deliveries rose 27% from the
first quarter.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by
Pooja Desai)
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