October 10, 2024

Tesla Stock Turns Higher Ahead of the Big Event

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After spending most of the day in the red, Tesla shares are higher in midday trading, up 0.3% at $241.86. For comparison, the S&P 500 and Dow Jones Industrial Average are down 0.2% and 0.3%, respectively.

This morning’s CPI inflation report came in a little hotter than expected, hitting many stocks—including Tesla—in early trading. Consumer prices rose 2.4% year over year in September, more than the 2.3% increase economists surveyed by FactSet expected.

Tesla stock has since reversed. Its midday gain puts shares down about 3% year to date and up about 47% since CEO Musk announced on April 5 that Robotaxi Day was coming.

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