Shares of (NASDAQ: TSLA) traded roughly 5.2% higher, as of 1 p.m. ET today. There is no obvious reason for the move, although as one of the largest stocks in the market, Tesla appears to be joining in the strong market rally today.

Federal Reserve Chair Jerome Powell ignited a furious rally in the stock market after he hinted about a potential interest rate cut at the Fed's upcoming meeting in September, during a speech made at the Fed's 2025 Jackson Hole Economic Policy Symposium this morning. Lower rates are often viewed as a positive catalyst for stocks.

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Source Fool.com