Tesla Stock Heads for 6 Days of Gains. Here’s Why.

Tesla stock closed at a new all-time high—adjusted for any stock splits—on Wednesday as it rose for a sixth-consecutive session. Inflation data for November helped the market—and Tesla Consumer prices increased at 2.7% from a year ago—in line with economists’ expectations and likely keeping the Federal Reserve on track to cut benchmark interest rates next week. Expectations that CEO Elon Musk’s relationship with President-elect Donald Trump will benefit Tesla helped push shares higher, which in turn led analysts to raise their price targets, helping fuel additional stock gains in what’s become a virtuous cycle.