By Medha Singh and Devik Jain
(Reuters) – U.S. shares rose on Monday as know-how shares rebounded from a latest pullback that was sparked by a surge in bond yields, whereas Tesla (NASDAQ:) jumped as a fund run by an influential investor stated the electric-car maker’s shares might hit $3,000 in three years.
Tesla Inc’s 5.5% bounce to $690 supplied the most important increase to the and Nasdaq. Ark Make investments, based by star inventory picker Cathie Wooden, has been extraordinarily bullish in regards to the firm, wherein it is among the main buyers.
A pointy run-up in Treasury yields since mid-February has dictated the course of equities buying and selling, whereas weighing on high-flying tech-focused shares.
“The market is making an attempt to digest what is going on on within the bond market,” stated Jake