Dow/S&P record high...Tesla shares 8.8% ↓

[Anchor]
The New York Stock Exchange, which has seen a sharp decline this week, has renewed its all-time high.

Unlike retail prices, wholesale price growth appeared to have led the rally higher, with Tesla shares plunging, mixed with joy and sorrow.

I'm correspondent Hong Sang-hee from Washington.

[Reporter]
The New York Index laughed again in a day.

The Dow Jones rose 0.97% from a day earlier and the S&P 500 also rose 0.61% to hit an all-time high, surpassing 5,800 points for the first time ever.

The Nasdaq Composite also rose 0.33% to close at 8,342.94.

The U.S. stock market, which fell in unison in September as the consumer price index rose 0.2% above market expectations, was bolstered by a rise in the producer price index (PPI), a wholesale price, that fell short of forecasts.

[Interview: Brian Mulberry/Jacks Investment Management Manager]

The producer price index was lower than expected this morning. That's good news. That's because it means that the Fed can still cut interest rates two more times.

But the joys and sorrows were mixed.

Tesla plunged nearly 9% a day ago as Elon Musk's self-driving driverless taxi "Robo" was evaluated to have fallen short of expectations.

At one point during the day, Tesla's market capitalization was $695.8 billion at the close, evaporating $67 billion.

On the other hand, shares of ride-sharing platform "Uber," which was expected to be hit by Tesla's robo-taxi, jumped 10.83%, while "Lift" also rose 9.59%.

JPMorgan Chase, the world's largest financial company, also saw its stock price rise 4.4% and Wells Fargo rose 5.6%, as its third-quarter earnings beat expectations.

Oil prices, which had also been on a sharp decline this week, fell slightly.

West Texas Intermediate crude for November delivery closed at $75.56 a barrel and Brent closed at $79.04 a barrel on the New York Mercantile Exchange.

I'm Hong Sang-hee from Washington.



Video editing: Ko Chang-young