Sat, 27 Nov 2021

NEW YORK, New York - U.S. stock markets continue reaching for the stars. Despite a 1-in-1-100-years event, the Covid-19 pandemic, stocks are at an all-time high.

Borth the Dow Jones and Standard and Poor's 500 hit new closing highs Monday.

Tesla jumped several percentage points after announcing it has secured a 100,000 car sale to Hertz. At one point the company's shares were 14.90 percent higher, capitalizing the company at in excess of $1 trillion.

"Tesla has been a company which has mastered the art of delivering very positive publicity and the Hertz deal is one more addition to their hat," Rick Meckler, partner at Cherry Lane Investments in New Jersey was quoted as saying by Reuters Monday.

"The only issue is if they can produce those huge number of vehicles as there is no shortage of demand."

Technology shares did best with the Nasdaq Composite climbing 136.51 points or 0.90 percent to 15,226.71, fueled by demand for Tesla, and also by Pay Pal shares.

The Dow Jones extended by 64.13 points or 0.18 percent to 35,741.15, a new all-time high.

The Standard and Poor's 500 jumped 21.58 points or 0.47 percent to a record closing high of 4,566.48.

The U.S. dollar was generally stronger on higher Treasury yields and oil prices. The euro fell to 1.1610 approaching the New York close Monday. The British pound dipped to 1.3767. The Japanese yen was a fraction lower at 113.72. The Swiss franc eased to 0.9198.

The Canadian dollar declined to 1.2381. The New Zealand dollar was unchanged at 0.7167, while the Australian dollar was the only major to advance. It rose to 0.7495.

On overseas equity markets, the FTSE 100 in London advanced 0.25 percent. The Dax in Germany gained 0.36 percent. The Paris-based CAC 40 went against the trend, losing 0.31 percent.

On Asian markets, Tokyo's Nikkei 225 dived 204.44 points or 0.71 percent to 28,600.41.

In Australia, the All Ordinaries added 31.20 points or 0.40 percent to 7,158.00.

The Hang Seng in Hong Kong inched up 5.10 points or 0.02 percent to 26,132.03.

China's Shanghai Composite rose 27.26 points or 0.76 percent t to 3,609.86.

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