Tesla, Goldman Sachs Fuel Broad US Stock Rally

The major US stock indexes rose on Thursday as Tesla and Goldman Sachs led the way. The Nasdaq Composite, Dow Jones Industrial Average, and S&P 500 each gained more than 1% by early afternoon.

Goldman Sachs was a significant contributor to the Dow's gain, rising 3.1% and adding roughly 30% of the index increase. Without announcing any news, the bank contributed 179 Dow points to the overall market rise.

Tesla also had a strong day, jumping 7% after the company unveiled plans for a two-seat robotaxi at a Cybercab event in Austin. SpaceX, with which Tesla shares a CEO, rose 7.8%, adding another 0.29 percentage points to the Nasdaq Composite's gain.

Nvidia announced its $12.9 billion bid for AI platform Hugging Face but only saw a minor increase of 1.3%. The company had already risen 3.8% on rumors of the deal, so the official news added relatively little value.