Tesla stock is on the rise for the third consecutive day the recent surge in Tesla's stock can be attributed to the latest inflation data the Consumer Price Index Rose by 3.2% year-over-year in October beating economists expectations of 3.3% lower inflation is seen as positive for stocks as it indicates that the federal reserve's efforts to raise interest rates are working higher interest rates have had a significant impact on Tesla and other car companies Tesla CEO Elon Musk expressed his frustration during the company's thirdd quarter conference call stating that higher rates have offset the benefits of Tesla's price Cuts cars are considered discretionary purchases and other consumer discretionary stocks are also performing well shares of amazon.com Ford motor and General Motors have all seen gains while there wasn't any major news to explain Monday's gains small updates like Elon musk's tweet about an updated version of Tesla's autonomous driving software contributed to the positive sentiment Tesla's stock has risen by about 22% over the past 12 months with inflation playing a role in Tesla's recent stock surge investors are keeping a close eye on economic indicators and the federal reserve's actions market news short and sweet
