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GRAPHIC-Tesla leads November's global market value surge
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GRAPHIC-Tesla leads November's global market value surge
Dec 2, 2024 3:06 AM

Dec 2 (Reuters) - Tesla's market capitalisation

increased by the most among top global companies in November,

boosted by expectations the automaker will benefit from CEO Elon

Musk's close ties with U.S. President-elect Donald Trump.

The company's market value surged 38.1% to $1.1 trillion

last month on reports that Donald Trump's transition team plans

to relax federal regulations on self-driving cars, potentially

simplifying the rollout of autonomous vehicles.

Optimism around holiday shopping helped boost Walmart's ( WMT )

market value by 12.9% to $743.5 billion, following the

company's third upward revision of its annual sales and profit

forecasts, driven by increased online and in-store purchases of

groceries and merchandise.

JPMorgan Chase's ( JPM ) market value rose 12.5% to $703

billion, as it was announced that CEO Jamie Dimon will continue

leading the bank and with investors confident that Trump will

bring favourable policies for lenders.

Improving retail sales pushed Amazon.com's ( AMZN ) market

value up 11.5% to $2.2 trillion, after it reported

higher-than-expected profit growth. Similarly, Visa saw its

market value increase by 8.3% to $617.5 billion, as resilient

consumer spending pushed it to a strong fourth-quarter profit.

Reports that U.S. authorities ordered Taiwan Semiconductor

Manufacturing Company ( TSM ) to halt shipments of advanced

chips to China, a move aimed at curbing exports of critical

technologies, helped wipe 5.1% off its market cap, which fell to

$793.5 billion.

AI bellwether Nvidia's ( NVDA ) market value rose by a

modest 3.9%, slowing from October's 9.3% increase as its revenue

growth forecast failed to excite investors.

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