Tesla's Earnings Boost Market: A Ray of Hope Amidst Market Volatility

The Nasdaq and S&P 500 surged on Thursday, fueled by Tesla's promising earnings forecast and a dip in Treasury yields. Tesla's shares skyrocketed by 21.9%, significantly lifting the Consumer Discretionary sector. Despite positive market movement, mixed corporate earnings and fluctuating Treasury yields kept investor sentiment cautious.

The Nasdaq and the S&P 500 experienced gains on Thursday, largely driven by Tesla's optimistic earnings forecast and a reduction in Treasury yields from a three-month high.

Tesla's shares soared by 21.9%, contributing significantly to a rise in market capitalization by over $140 billion after reporting strong third-quarter profits and forecasting substantial sales growth next year.

However, despite Tesla's impressive performance, the market remained edgy with mixed corporate results and lingering concerns over Treasury yields.

(With inputs from agencies.)