Tesla boosts S&P 500 to new highs

In today's financial news, the S&P 500 and Nasdaq Composite achieved record highs ahead of the July 4 holiday, with the 10-year Treasury yield falling as job market data suggested a slowdown. Federal Reserve officials indicated that while inflation was improving, interest rates would not be lowered yet. Southwest Airlines implemented a "poison pill" strategy in response to activist investor pressure, while analysts had mixed views on Tesla's stock performance, with price targets ranging from $227 to $400 by 2025. Despite market highs, concerns were raised about the narrowness of the S&P 500's success, with some attributing it to the Fed's rate hikes. The need for more evidence on inflation trends was reiterated in the Fed's latest minutes, with calls for lower bond yields and interest rates to stimulate broader market growth. Meanwhile, Tesla's strong performance and Nvidia's stock volatility were notable factors influencing market sentiment. In other news, the FDA approved Eli Lilly's Alzheimer's drug, donanemab, expanding treatment options for millions of Americans with the disease. Paramount Global saw a surge in its stock price following reports of a potential merger deal, while Goldman Sachs updated its list of top stock picks for the second half of the year. Concerns about Tesla's competitiveness and the need for Fed rate cuts were highlighted as key factors shaping market dynamics moving forward. Overall, the financial landscape remains dynamic and influenced by a range of factors, from market performance and investor sentiment to regulatory decisions and corporate strategies. Investors are advised to stay informed and monitor developments closely to navigate the evolving economic environment effectively.