Tesla's Stock Continues to Rise Amid Inflation Concerns
Tesla's stock rose for a fourth consecutive day but pared gains after the release of tame inflation data. The stock had previously surged 13.1% over the past three sessions, benefiting from lower inflation, which is believed to boost consumer spending on discretionary items. Tesla's stock is part of the consumer discretionary sector. Year-to-date, Tesla's stock has risen by 92.7%, outperforming the Consumer Discretionary Select Sector SPDR ETF and the S&P 500.