Is the stock market crashing today or surging today! The stock market soared on the news, with the Dow Jones Industrial Average up by nearly 600 points, the S&P 500 up 1.76%, and the Nasdaq Composite up an impressive 2.27%. Tesla shares were the top of the class, gaining 12%. That was its largest increase of the year and it became the biggest providing stock in the S&P 500 for that day. The FBI still has an ongoing investigation into over a hundred attacks against Tesla vehicles. Taken together, this deluge of incidents emphasizes a bumpy 24 hours for the electric vehicle maker.
Tesla’s stock performance exploded following news reports that there have been at least 80 vandalism or arson incidents involving its cars in the U.S. and Canada. In response to these disturbing incidents, the FBI has deployed a specialized task force to crack down on the crisis. Civil disobedience has included peaceful protests at Tesla showrooms across the country. That’s left a tense backdrop for the company as it attempts to steer through its own striking challenges.
In other news, an anonymous employee from FlightSafety International, a subsidiary of Warren Buffett's Berkshire Hathaway, was awarded a prize for accurately predicting 31 out of 32 games in the first round of March Madness, the renowned men's college basketball tournament. Nevertheless, this extraordinary accomplishment is a testament to the wild and wonderful nature of the tournament.
To add to the excitement, pharmaceutical giant Eli Lilly is preparing to announce pivotal data on its once-daily obesity pill, orforglipron. We anticipate some of the late-stage clinical trials to be wins à la game-changer for pharma this year. If confirmed, these findings may radically change the balance of power in the market.