Stock Market News: Tesla/Volkswagen Rumors Fly; L Brands Sales Sag
Major benchmarks were mixed on Thursday morning as investors tried to assess the state of the economy. Most market participants are looking for guidance from Jackson Hole, Wyoming, on Friday, where Federal Reserve Chair Jerome Powell is set to speak at the central bank's annual conference. As of 10:30 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 49 points to 26,252. The S&P 500 (SNPINDEX: ^GSPC) fell 3 points to 2,921, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 31 points to 7,989.
Tesla (NASDAQ: TSLA) has made the news several times in recent weeks, and the latest involved rumors of a potential investment by German automobile manufacturers in the U.S. electric vehicle specialist. Meanwhile, earnings season for popular retail companies continued, and Victoria's Secret parent L Brands (NYSE: LB) saw its stock fall following its latest report.
Shares of Tesla were up a fraction of a percent Thursday morning following reports that the electric vehicle company had gained interest from German automakers looking to make an investment. The report in a German publication named Volkswagen (OTC: VWAGY), BMW, and Mercedes-Benz parent Daimler as potential buyers.
Source Fool.com