Hey Global Investor, here's what you need to know before the US markets open.

Market Snapshot 📈

S&P 500 (Friday Close) 3,397.16 +11.65 (0.34%)

NASDAQ (Friday Close) 11,311.80 +46.85 (0.42%)

FTSE 100 (5 PM IST) 6116.23 +114.34 (+1.90%)

NIFTY 50 (Today's Close) 11,466.45 +94.85 (0.83%)

USDINR (5 PM IST) 74.13 (1 Year +4.77%)

Tesla and Apple Shares Surge to Record Highs as Both Companies Prepare for Stock Split

Shares of Tesla and Apple rallied on Friday to record highs ahead of the stock split that will be effective after the end of trading on August 28th.

What Happened? Share prices of Tesla and Apple continued their upward trajectory and notched up record highs amid heightened investor excitement. Shares of the two companies rallied on Friday, ahead of the stock split.

Apple and Tesla have announced 4-for-1 and 5-for-1 stock splits respectively, and split-adjusted shares will start trading from August 31. Tesla’s stockholder record date – the date when the company decides which shareholders will receive additional shares due to the split – was on Friday, August 21st. Apple’s is today after market close.

As of Friday afternoon, Apple’s shares gained 27%, and Tesla’s rose 52% since the stock split was announced.

Apple’s market cap recently crossed the coveted $2T mark, following a blockbuster Q3. The company’s revenue was up 11% Y-o-Y, and EPS rose 18%. On the other hand, Tesla shares are up 27% for last week and 380% YTD. This is Apple’s fifth stock split in its history, and Tesla’s first.

Market Reaction: Tesla closed at $2049.98, a record high. Similarly, Apple closed at a record high of $497.48.

Apple and Tesla Snapshot 📈

AAPL $497.48 +24.38 (+5.15%)

TSLA $2,049.98 +48.15 (+2.41%)

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Later Today 🕒

• 6:00 PM IST: Chicago Fed national activity index

Fun Fact of The Day 🌞

Cats can jump 5 times their height

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