Tesla shares lose $80 billion in one day and fall out of the top ten

The major US indices closed with collective gains in Thursday’s session, despite the sharp gains in Tesla shares, after US economic growth data strengthened market sentiment.

According to CNBC, the Dow Jones Index rose by 0.6%, equivalent to 242 points, in Thursday’s session, recording a new record close at 38,049 points.

The S&P 500 index rose 0.5%, achieving a record close for the fifth session in a row.

The Nasdaq Composite Index also rose by 0.2%, recording the sixth daily gain in a row, closing above 15,500 points for the first time since 2022.

Investors are awaiting the results of Apple, Microsoft, Amazon, Alphabet, and Meta next week to confirm whether the high valuations of these heavyweight companies are justified after the strong gains since the beginning of the year.