Funding & Business
Dow Jones Industrials Notches First Record Close of This Year
A blistering cross-asset rally drove the Dow Jones Industrial Average to close at an all-time high for the first time since December as the staid blue-chip gauge finally caught up to the riskier corners of the stock market.
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Elon Musk responded to an unprecedented pay proposal from Tesla Inc.’s board by buying about $1 billion worth of shares, sending the carmaker’s stock soaring into positive territory for the year. The billionaire bought the shares indirectly through a revocable trust on Sept. 12, according to a regulatory filing released Monday. The purchase coincided with Tesla Chair Robyn Denholm speaking with reporters about the merits of awarding Musk around $1 trillion worth of stock if the company achieves a series of ambitious market value and performance milestones. Bloomberg Businessweek Senior Reporter Max Chafkin joins Bloomberg Businessweek Daily to discuss. (Source: Bloomberg)
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Alphabet, the parent company of Google, joins an exclusive club. It’s now worth more than $3 trillion with shares worth about $251. Mandeep Singh of Bloomberg Intelligence has more on “Bloomberg The Close.” (Source: Bloomberg)
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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. (Source: Bloomberg)
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