Tesla Lift for Tech Shares

Nasdaq closed up on Friday, strengthened by strong Tesla results and high expectations for the three big tech companies’ reports next week

After releasing the Q3 report after market closure on Thursday, Tesla Inc.’s shares surged the most in over 11 years following the carmaker's surprisingly strong earnings and forecasts of up to 30% growth in vehicle sales for the coming year. The third-quarter results were buoyed by Cybertruck finally turning a profit, alongside lower material costs, an expanding energy business, and sales of regulatory credits.

Next week will be one to watch for tech analysts and investors while reports from mega-cap tech firms Alphabet, Apple, and Microsoft for the third quarters are due.

Sources: Bloomberg, Reuter