Tesla stock was rising Monday ahead of a big week with tech earnings and President Donald Trump’s planned meeting with Chinese President Xi Jinping on tap.
Shares of the electric-vehicle maker were up 1.6% at $440.71, while S&P 500 and Dow Jones Industrial Average futures were up 0.9% and 0.6%, respectively.
Tesla stock is getting a clear lift, just as the entire market is, from trade progress between China and the U.S., the world’s two largest economies. Over the weekend, negotiators developed a framework for a trade deal, which Treasury Secretary Scott Bessent said could form the basis for discussion between President Trump and Chinese President Xi. They are slated to meet in South Korea on Thursday.
It may also be getting a boost from optimism about earnings from Big Tech companies, which are due before the Xi-Trump meeting. Microsoft, Alphabet, and Meta Platforms report quarterly numbers on Wednesday. Amazon.com and Apple report on Thursday.
Those five firms are worth some $15 trillion, 25% of the value of the entire S&P 500.
Coming into Monday trading, Tesla stock was up 7% this year and 61% over the past 12 months. Including early trading on Monday, shares were flat since Tesla reported its third-quarter earnings on Oct. 22.
Tesla’s quarterly operating profit fell 40% year over year, missing analysts’ estimates, but investors are focused on future AI-related opportunities, including self-driving cars and humanoid robots.
Write to Al Root at allen.root@dowjones.com
