Stock Market Update: Tesla Soars, Rivian Surges, and EV Stocks Rally

The U.S. stock market showed mixed performance as the Dow slipped, the Nasdaq Composite rose, and the S&P 500 remained flat. Electric vehicle (EV) makers, including Tesla, Rivian Automotive, and Nio, experienced gains. Asian indexes saw strong gains, driven by optimism surrounding Treasury Secretary Janet Yellen's upcoming trip to China. Bond yields eased, while Brent crude oil prices edged up due to Russia's plan to cut oil exports in August and Saudi Arabia's extension of supply cuts. Bitcoin remained above $30,000, and the Securities and Exchange Commission expressed concerns about the adequacy of applications for spot bitcoin exchange-traded funds.