[New York Stocks] Markets rally across the board, propelled by SpaceX and Tesla... SOXL surges 6%

[Financial News]  

New York stocks rose across the board on the 21st (local time), led by Elon Musk’s SpaceX and Tesla.
Musk announced surprise quarterly results after the market closed the previous day and said SpaceX would also establish a committee to prepare for a merger with Tesla.
SpaceX surged 7.8% on the surprise results, while Tesla jumped 3.4% amid hopes of a merger.
Meanwhile, amid gains in big tech and semiconductor stocks, the leveraged exchange-traded funds (ETFs) TQQQ and SOXL surged by more than 3% and 6%, respectively.

The Dow Jones Industrial Average closed up 360.21 points (0.69%) at 52,856.09. The gains came as IBM surged nearly 4% and Goldman Sachs, Caterpillar and NVIDIA each rose more than 2%. 3M, which had jumped 5.8% the previous day, gained nearly 2% today.
The S&P 500, which broadly reflects market conditions, closed up 44.60 points (0.58%) at 7,757.17, while the tech-heavy Nasdaq gained 278.04 points (1.05%) to finish at 26,702.86.
The Nasdaq-100, comprising 100 large-cap technology stocks, rose 332.24 points (1.13%) to 29,822.52. TQQQ, which tracks three times the index’s daily moves, jumped $2.20 (3.12%) to $72.61.

Big tech stocks were mostly higher, with Alphabet and Amazon the exceptions.
SpaceX surged $11.52 (7.79%) to $159.31, while Tesla jumped $12.76 (3.41%) to $386.47.
Apple gained $4.49 (1.32%) to close at $343.99, while Palantir surged $9.12 (4.74%) to $201.72.
Alphabet, by contrast, fell $5.51 (1.62%) to $334.76.

Semiconductor stocks continued their strong performance.
NVIDIA, the sector’s leader, surged $5.50 (2.54%) to $221.97, while Micron closed up $18.80 (2.10%) at $916.60.
Intel gained $1.27 (1.39%) to $92.96, while SK hynix American depositary receipts (ADRs) rose $3.50 (2.51%) to $143.29.
SOXL, a leveraged ETF that tracks three times the daily moves of 30 major semiconductor stocks, jumped $6.12 (6.27%) to $103.67.

[email protected] Song Kyung-jae Reporter