market update tesla surges as tapestry merger blocked and food safety concerns rise

The S&P 500 rebounded on Thursday, ending a three-day losing streak with a modest gain of 0.21%.

The Nasdaq Composite outperformed with a rise of 0.76%, while the Dow Jones Industrial Average faced challenges, losing 0.33%.

Treasury yields experienced a slight decline after reaching three-month highs earlier in the week.

Tapestry's Proposed Acquisition Blocked

Tapestry's proposed acquisition of Capri Holdings was blocked by a federal judge, leading to a significant drop in Capri's shares and a 10% increase in Tapestry's stock.

Tesla's Stock Soars

Tesla's stock soared by 22% following better-than-expected earnings and optimistic projections from CEO Elon Musk.

Microsoft CEO's Compensation Increase

Microsoft CEO Satya Nadella saw a 63% increase in total compensation for fiscal 2024, reaching over $30 million.

Onion Removal Due to E. Coli Outbreak

Burger King and Taco Bell removed onions from select restaurants due to an E. coli outbreak linked to McDonald's.

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