Tesla Surges on Musk's Tweet as Stocks Close More Than 1% Higher

Wall Street rallied on M&A activity among drug makers and optimism central banks around the world including China’s will support growth.
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Wall Street rallied on M&A activity among drug makers and optimism central banks around the world including China’s will support growth. All the major benchmarks gained better than 1%. Oil slipped just $0.19 to settle at $48.68 on concerns in the Middle East including the tensions in Yemen and talks over Iran’s nuclear program. Energy was the best performing sector with stocks like Marathon Petroleum (MPC) gaining more than 3%. Financials also led in the session. JPMorgan Chase (JPM) was the blue chip’s biggest gainer. A tweet (TWTR) from Elon Musk saying a ‘major’ non-car product will be released in April boosted Tesla’s (TSLA) stock. Immediately after the tweet, shares jumped more than 3%.