Stock Market News: Tesla Sees Chinese Success; Nike Loses Its Stride
The stock market continued its recent ascent on Friday morning, buoyed by overall optimism about the prospects for the U.S. economy. The holidays often bring a rally in stocks, and this year's version comes as a stark contrast to last year's December plunge. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 118 points to 28,495. The S&P 500 (SNPINDEX: ^GSPC) gained 18 points to 3,223, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 34 points to 8,921.
Tesla (NASDAQ: TSLA) has seen huge gains lately, and although its shares didn't react all that strongly today, good news from across the Pacific could help lift the automaker's prospects for the long run. Meanwhile, Nike (NYSE: NKE) delivered earnings results that didn't entirely satisfy investors, but the stock has been red-hot in 2019, and many have high hopes for the athletic footwear and apparel specialist in 2020 as well.
Shares of Tesla were little changed on Friday morning as the electric car pioneer got some good news from China. Although many of those watching Tesla have worried about a slowdown in the Chinese auto market, Tesla's latest numbers suggest that it's bucking the trend that has affected some other car stocks lately.
Source Fool.com
