After sell-offs in yesterday’s trading, Tesla (NASDAQ: TSLA) stock is rising Wednesday. The company’s share price was up 4.6% as of 2 p.m. ET amid the backdrop of a 0.3% gain for the S&P 500 and a 0.7% gain for the Nasdaq Composite. The stock had been up as much as 5.4% earlier in the session.
Tesla published its second-quarter vehicle delivery figures yesterday, and the company’s valuation is climbing despite a big performance drop-off. News that the U.S. has reached a trade agreement with Vietnam is supporting bullish momentum for the stock, and a much weaker than expected June jobs report from ADP also has some investors ramping up bets that the Federal Reserve will cut interest rates at its meeting.
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