Tesla Stock Soars and U.S. Government Debt Hits a Record High: This week witnessed notable market movements,
with Tesla’s stock surging significantly and boosting its market value to over $1.135 trillion.
Meanwhile, U.S. government debt reached a historic milestone,
surpassing $36 trillion for the first time.
These developments highlight the fast-paced economic shifts and challenges impacting global markets.
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Tesla’s Stock Soars, Boosting Its Market Value to $1.135 Trillion
Tesla’s stock rose by 4.4% to $354.5, reaching as high as $361.53—its highest level in a year.
This significant increase strengthened the market capitalization of the company owned by billionaire Elon Musk.
Mike Ward, an analyst at Freedom Capital Markets,
commented in a note: “Battery-powered electric vehicles are coming,
with or without government support.
Yes, consumer adoption has been slower than most investors,
analysts and companies anticipated, but their expansion continues.”
Tesla’s stock gained over 10% this week,
driven by investor expectations that Tesla will benefit
from Musk’s support for Trump’s campaign and regulatory
developments regarding the sale of autonomous vehicles in the U.S.
U.S. Government Debt Exceeds $36 Trillion for the First Time in History
The U.S. government’s debt has reached a record high of over $36 trillion,
just four months after surpassing $35 trillion in late July.
According to U.S. Treasury data released on Friday,
the public debt stood at $36.034 trillion,
compared to $34.006 trillion in early January of this year and $33 trillion in September 2023.
The U.S. government debt was just $900 billion four decades ago.
It’s worth noting that the federal government
recorded the third-largest budget deficit in U.S. history during
the fiscal year that ended in September
due to increased spending on interest payments
on the debt—rising by $240 billion compared to the previous fiscal year.
Tesla Stock Soars and U.S. Government Debt Hits a Record High