NEW YORK (AP) — Wall Street rose to more records on Monday at the start of a week that could show whether the U.S. stock market’s big recent rally has been overdone or prescient.
The S&P 500 climbed 0.5% and topped its prior all-time high, which was set last week. The Dow Jones Industrial Average rose 49 points, or 0.1%, and the Nasdaq composite added 0.9% to its own record.
Tesla helped lead the way and rose 3.6% after Elon Musk bought stock worth roughly $1 billion through a trust. The electric vehicle company’s stock price came into the day with a slight loss for the year so far, and the purchase could be a signal of Musk’s faith in it.
Alphabet was the single strongest force lifting the S&P 500 after gaining 4.5%, which brought the total value for Google’s parent company above $3 trillion. Nvidia, Microsoft and Apple are the only other companies on Wall Street worth that much.
The market’s main…
