Mon Sep 23 21:30:27 UTC 2024: ## U.S. Stocks Surge to New Highs, Led by Tesla and Intel

**New York, NY** – Major U.S. stock indexes opened the week with gains, extending the positive momentum following last week’s interest rate cut. The S&P 500 reached a new all-time high, closing 0.3% higher, while the Dow Jones Industrial Average closed at its third consecutive record, up 0.1%. The Nasdaq also gained 0.2%.

**Tesla (TSLA)** led the charge, soaring 4.9% after Barclays issued an upbeat forecast for the electric vehicle maker. The stock is further expected to benefit from the upcoming robotaxi launch event scheduled for next month, according to analysts at Goldman Sachs and BofA Securities.

**Bath & Body Works (BBWI)** also saw strong gains, rising 3.6% after analysts at TD Cowen allayed concerns regarding the impact of ocean freight issues on the retailer’s inventory.

**Intel (INTC)** shares jumped 3.3% on reports that Apollo Global Management has offered to make a $5 billion investment in the chipmaker. The news comes after rival Qualcomm (QCOM) expressed interest in a potential takeover of Intel.

**Regeneron Pharmaceuticals (REGN)** was the biggest loser in the S&P 500, falling 4.6% after a judge rejected the company’s attempt to block a competing version of its blockbuster drug Eylea.

Other notable performers included **Moody’s (MCO)**, which dropped 3.2% after Raymond James downgraded the credit rating firm’s stock, and **Ulta Beauty (ULTA)**, which lost 2.0% following a downgrade from TD Cowen citing increased competition.

**General Motors (GM)** shares dipped 1.7% after Bernstein downgraded the automaker’s stock citing concerns about inventory buildup and challenges in its autonomous vehicle division and EV production.

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