US Stocks Kick Off The Week In The Green, Tesla Rockets On China’s FSD Approval, Yen Rallies: What’s Driving Markets Monday?
U.S. stocks kicked off the week on a positive note, with all major averages edging higher in anticipation of significant events including earnings reports from tech giants like Amazon.com Inc. (NASDAQ:AMZN) on Tuesday and Apple Inc. (NASDAQ:AAPL) on Thursday, a pivotal Federal Reserve Open Market Committee meeting on Wednesday, and the April’s jobs report on Friday.
The S&P 500 rose 0.2% by midday trading in New York, following a 1% surge last Friday. Both the tech-heavy Nasdaq 100 and blue-chip stocks in the Dow Jones made similar gains.
Small caps, as tracked by iShares Russell 2000 ETF (NYSE:IWM), outperformed large-cap stocks, rising as much as 0.9%.
Tesla Inc. (NASDAQ:TSLA) grabbed the market spotlight by securing a significant partnership with Chinese search engine giant Baidu Inc. (NYSE:BIDU), which granted the Elon Musk-led company access to its mapping license for data collection on China’s public roads.
The deal removes a last regulatory barrier for Tesla’s driver assistance system, known as Full Self-Driving (FSD), to be introduced in China. Shares of Tesla rose as much as 16% Monday.
The Bank of Japan sent shockwaves through the …
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