Stock Market Update
09-Oct-26 11:05 ET
Tesla climbing after reports of improved demand
Dow +231.57
at 51463.42,
Nasdaq +132.48
at 27346.76,
S&P +35.11
at 7800.54
[BRIEFING.COM] The major averages continue to edge higher, with several company-specific developments influencing today's sector performance.
The consumer discretionary sector (+1.5%) leads the market, supported by strength in Tesla (TSLA 387.07, +12.07, +3.22%) after Reuters reported that September sales of Shanghai-built Model 3 and Model Y vehicles rose 5% year-over-year to 95,366, accelerating from August's 3.6% growth. The figures include exports, highlighting improving overseas demand.
Meanwhile, Lumentum (LITE 1122.69, +74.09, +7.07%) is rallying and lifting optical networking peers Applied Optoelectronics (AAOI 112.34, +6.44, +6.08%) and Coherent (COHR 310.38, +8.02, +2.65%)) after CEO Michael Hurlston told Bloomberg that the company's optical component capacity is sold out through early 2029. The comments are helping the group recover from yesterday's AI-related selloff, while subsequent reporting suggests the discrepancy in OpenAI's reported revenue expectations largely reflected accounting differences rather than weakening demand
