Tesla To Join The S&P 500 on Cheddar

Tesla shares up 12 percent as automaker zooms to join S&P 500

Tesla joining S&P 500 group of companies

Elon Musk, who will take the seat of Facebook CEO Mark Zuckerberg, secured his place with a 13% increase in the shares of the electric auto company Tesla.

The Dow Jones Industrial Average fell 44.43 points, or 0.2%, to 29,738.92, while the S&P 500 was off 3.30 points, or 0.1%, at 3,606.23. The Nasdaq composite lost 97.74 points, or 0.8%, to 11,801.60.

Pharmacy stocks were among the biggest decliners after e-commerce Amazon opened an online operation to compete with them. Drug retailers such as Walgreens Boots Alliance Inc tumbled 9%, while CVS Health Corp fell 8% on the news. Amazon ticked up 0.1%. The Nasdaq Composite remained in positive territory, up 13.40 points, or 0.1%, at 11,912.74.

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Apple , however, denied the allegations - a move that won't allow a court to decide whether there was any actual wrongdoing. Rather than disclosing these issues or replacing batteries, however, Apple concealed the issues from consumers.


Third-quarter reporting season has reached the final inning, with 468 of the companies in the S&P 500 having reported. The index announcing that the electric automaker will be joining its ranks, effective December 21st.

The broader stock market slowed Tuesday, though, and the majority of stocks in the S&P 500 were lower.

Tesla's acceptance follows a fifth consecutive quarter of profitability after operating at a loss for years, and its stock has consistently risen despite selling only a fraction of the vehicles as its competitors. Analysts said problems with its delivery system essentially mean an end to what was once a promising business.

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The league said the individuals who had tested positive for the novel coronavirus would now self-isolate for 10 days. The Egyptian FA have confirmed that midfielder is now isolating in line with medical protocols.


The energy sector climbed 2.4% as USA crude recently rose 0.82% to $41.77 per barrel and Brent was at $44.27, up 1.19% on the day. The figure also fell short of forecasts for 0.5% growth. But bitter partisanship in Washington has prevented any deal to renew extra unemployment benefits for laid-off workers and other stimulus efforts that expired earlier this year. The United States remains the country worst affected by the pandemic.

Federal Reserve Chairman Jerome Powell on Tuesday cautioned that the economy faces significant challenges and uncertainty because of the increased spread of the coronavirus. Between the continuing COVID-19 pandemic and the presidential election, it seemed people temporarily forgot about the potential. "The stock's recent pullback provides better opportunity for index trackers to build positions".

The yield on the 10-year Treasury ticked up to 0.88% from 0.85% late Tuesday.

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Rudy Giuliani , President Trump's personal attorney, considers there to be "more than enough evidence" to go to the U.S. The case doesn't involve an accusation of fraud or an irregularity, the court said.


European stock markets rose.

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