Dow, S&P 500 Reach New Record Closes

Tesla shares surged after PepsiCo said it purchased 100 of Tesla's new electric Semi trucks.
Publish date:

U.S. equities were mixed on Tuesday. The Dow climbed by triple digits and the S&P 500 finished in the green to reach new record closes, but the Nasdaq finished lower.

Tesla Inc. (TSLA) - Get Report shares surged by about 3% on Tuesday after Pepsico Inc.  (PEP) - Get Report announced it purchased 100 of Tesla's new electric Semi trucks. Pepsi's order represents Tesla's largest preorder to date.

Pepsi joins Walmart Stores Inc. (WMT) - Get Report and Anheuser Busch InBev SA/NV (BUD) - Get Report in making public announcements about purchasing the vehicles. The Tesla Semi trucks were unveiled in November and are scheduled for production in 2019.

Shares of AMC Entertainment Holdings Inc. (AMC) - Get Report  were in focus after the company and Saudi Arabia's main sovereign wealth fund announced a partnership to bring cinemas to the country as it lifts a 35-year-old ban on cinemas.

The Fund said this partnership was in line with its mandate to help unlock promising new sectors within the kingdom.