(Bloomberg) — Big tech climbed in late hours as Tesla Inc. kicked off the “Magnificent Seven” earnings season with solid results. Bond yields rose on bets the Federal Reserve will take a measured approach on rate cuts.
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Following a stock-market selloff on Wednesday, Wall Street pointed to a rebound led by its most-influential group. A $300 billion exchange-traded fund tracking the tech-heavy Nasdaq 100 (QQQ) gained after the close of regular trading. Tesla jumped 9% as Elon Musk’s electric-vehicle giant also indicated it expects another strong quarter of deliveries, saying it anticipates higher volumes for the full year.
“Earnings season is heating up. We believe there is continued upside ahead for stocks, especially now that we are entering a seasonally strong period of the year for markets,” said David Laut at Abound Financial.
After last week’s rally to fresh all-time highs, equities have taken a…
