Tesla share price: Tesla stocks soar after Elon Musk regrets clashing with Donald Trump

Tesla share price on Wednesday went up after CEO Elon Musk said he regrets some of the posts he made last week about President Donald Trump, following an abrupt rift that has roiled the electric-vehicle maker's shares. US stocks are drifting near their record on Wednesday after a report suggested Trump’s tariffs are not pushing inflation much higher, at least not yet.

Tesla stocks advanced 1.7 per cent this morning. It’s been recovering much of its big losses taken last week after Elon Musk’s relationship with Trump imploded, which in turn raised fears about a loss of business for the electric-vehicle company. Musk on Wednesday backed away from some of his earlier comments and said they went "too far".

Billionaire Musk on Wednesday backed off from feud with US President Donald Trump, saying he regrets social media posts that 'went too far.' Early Wednesday morning, Musk posted “I regret some of my posts about President @realDonaldTrump last week. They went too far.”


Musk's break with a president on whom he spent hundreds of millions of dollars to elect appeared to put an end to his influence in the White House and prompted concerns about effects on his companies. Musk earlier deleted a post in which he claimed without evidence that the government was concealing information about the president's association with infamous pedophile Jeffrey Epstein.

As a major government contractor, Musk's businesses could be particularly vulnerable to retribution, and Trump has already threatened to cut Musk's contracts.

Wall Street's main indexes nudged higher on Wednesday, as a cooler-than-expected inflation report calmed concerns around tariff-driven price pressures and fanned expectations for interest rate cuts.

At 10:03 a.m. (ET), the Dow Jones Industrial Average rose 55.84 points, or 0.13 per cent, to 42,922.71, the S&P 500 gained 6.13 points, or 0.10 per cent, to 6,044.94 and the Nasdaq Composite gained 26.66 points, or 0.14 per cent, to 19,742.60.

Six of the 11 major S&P 500 sub-sectors rose, led by healthcare stocks with an about 0.4 per cent rise. On the flip side, materials fell 0.7 per cent.

The S&P 500 posted 7 new 52-week highs and one new low while the Nasdaq Composite recorded 48 new highs and 19 new lows.

FAQs

Q1. Who is Tesla CEO?
A1. Tesla CEO is Elon Musk.

Q2. What are key US stock market indexes?
A2. Key US stock market indexes are Dow Jones, S&P 500, and Nasdaq.