Good evening, you're listening to Markets Desk.
Tesla shares surged Monday in their best single session in over a year after the company rolled out a long-awaited update to its self-driving software. Investors responded decisively, sending the stock sharply higher, though it remains in negative territory for the month as confidence in the autonomous driving roadmap gets its first real test in some time.
Shifting to the broader tape, the dollar index slipped roughly a quarter of a percent as a broad equity rally reduced safe-haven demand for the greenback. That said, losses were contained — crude oil jumped two percent on the session, stoking inflation expectations and reinforcing the view that the Federal Reserve has little room to ease anytime soon.
And in a story that speaks to the limits of creative ambition and financial accountability, director Carl Rinsch was sentenced to two and a half years in federal prison after being convicted of defrauding Netflix out of eleven million dollars. The funds were meant to finance his sci-fi series White Horse, but prosecutors showed the money was diverted into personal speculation. The judge acknowledged Rinsch may have been in a manic state but found his deliberate concealment disqualifying.
That's the tape. Markets Desk, signing off the floor.
