US equity markets closed higher Thursday, extending a period of cautious optimism. The Dow Jones Industrial Average reached 46,520 points at the close of trading in New York, marking a 0.2% increase from the previous day’s performance.
The broader S&P 500 was observed at approximately 6,715 points, up 0.1%, while the Nasdaq 100 registered around 24,893 points, a 0.4% gain.
Tesla’s latest quarterly report, released at the start of the earnings season, indicated a record number of vehicle deliveries. Analysts attribute this surge, in part, to a rush by consumers to take advantage of expiring tax credits for electric vehicles in the United States. The positive news briefly boosted Tesla stock, propelling CEO Elon Musk’s net worth above the $500 billion threshold, according to Forbes.
Looking ahead, the expiration of these tax credits exemplifies a shifting policy direction impacting the renewable energy sector. This aligns with broader approaches being implemented, currently impacting energy projects undergoing revisions as a result of ongoing governmental processes.
The Euro weakened slightly against the US dollar, trading at $1.1723, meaning one US dollar was worth €0.8530.
Gold prices showed a downward trend, with a fine ounce fetching $3,856 (-0.3%). This equates to €105.74 per gram.
Crude oil prices also experienced a decline, with a barrel of Brent North Sea crude trading at $64.30, a drop of $1.05 or 1.6% compared to the previous day’s closing values.