Tesla (TSLA 10.36%) stock is seeing strong gains in Monday’s trading. The company’s share price was up 10.3% as of 2:30 p.m. ET amid the backdrop of a 1.4% gain for the S&P 500 and a 1.9% gain for the Nasdaq Composite.
On the heels of recent sell-offs, Tesla’s valuation is seeing rebound momentum today thanks to bullish momentum for the broader market. The company’s share price is also getting a significant boost from news about a key feature rollout in the Chinese market and potential expansion plans in India.
Tesla stock jumps on shifting tariff expectations
A series of new tariffs are scheduled to go into effect on April 2. Stocks are rallying today on hopes that President Trump could take a softer approach to new tariffs than previously expected.
The provisions for new import taxes included a series of reciprocal tariffs that will see the U.S. mirror tariffs imposed by other countries, but it looks like the application of this policy could wind up being narrower than anticipated. If so, that would likely help quell investor concerns about the potential for a rapidly escalating trade war.
Tesla investors also got bullish business news today
Reuters reported today that Tesla will be rolling out its Full Self-Driving (FSD) feature in China following recent approval from regulators. The rollout of the feature had previously been delayed due to the introduction of new regulatory standards, but the service is now cleared for deployment.
Investors also got some news about Tesla’s plans in the Indian market today. A recent report from DigiTimes suggests that Tesla is in talks with Indian automotive company Tata Motors for components sourcing for its electric vehicles (EVs). Because of existing incentives put in place by India to accelerate its domestic auto manufacturing, the news is being taken as a sign that Tesla could be gearing up its expansion initiatives in the country.
Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.