Growing expectations for an imminent Fed rate cut have driven the Nasdaq to a new all-time high.

On September 12, U.S. stock indices closed mixed: the Dow Jones Industrial Average fell 0.59%, the S&P 500 dipped 0.05%, while the Nasdaq Composite rose 0.44%, setting another record high. For the week, the Dow gained 0.95%, the S&P 500 advanced 1.59%, and the Nasdaq climbed 2.03%.

In European markets, Germany’s DAX index edged down 0.02% to 23,698.15 points, France’s CAC 40 rose 0.02% to 7,825.24 points, and Britain’s FTSE 100 declined 0.15% to 9,283.29 points. Over the week, the DAX increased by 0.43%, the CAC 40 jumped 1.96%, and the FTSE 100 gained 0.82%.

Chinese stocks listed in the U.S. showed mixed performance, with the Nasdaq Golden Dragon China Index dipping 0.11%. Among individual stocks, JinkoSolar surged over 6%, 21Vianet Group rose more than 5%, Bilibili gained over 4%, Weibo advanced nearly 3%, and Baidu Group added over 2%. On the downside, DouYu fell more than 4%, Kingsoft Cloud dropped nearly 3%, RLX Technology declined nearly 3%, Yum China slid over 2%, and Tencent Music decreased more than 2%.

Tesla Surges Over 7%

Most large-cap U.S. tech stocks rose, with Tesla jumping over 7%, Microsoft and Apple gaining more than 1%, and Meta, Nvidia, and Google posting modest increases.

Tesla’s stock has rallied significantly in recent days, climbing nearly 14% over just two trading sessions, with its latest share price reaching a new high since January this year.

In news, the extended-wheelbase, six-seater pure electric SUV model launched by Tesla in China—the Model YL—sold out for October in the Chinese market, with new orders indicating the earliest estimated delivery date in November 2025.

The extended-wheelbase model was launched on Tesla’s Chinese website on August 19, starting at ¥339,000, with initial deliveries beginning this month. The first deliveries started last week.

The Model YL features an all-wheel-drive system, offering a range of 751 km under China’s Light-Duty Vehicle Test Cycle (CLTC), acceleration from 0 to 100 km/h in 4.5 seconds, and a top speed of 201 km/h. Without changing the vehicle’s width, Tesla expanded the rear横向空间 by 20mm, providing ample room for the third row.

Industry experts believe Tesla’s introduction of the Model YL is aimed at aligning with Chinese market preferences to boost sales. Based on the latest orders, the new model has quickly become one of Tesla’s bestsellers in key overseas markets, reflecting strong demand.

Additionally, investors are optimistic about Tesla’s expansion prospects in autonomous driving and AI. Tesla CEO Elon Musk stated in September that Tesla could derive 80% of its long-term value from its humanoid robot Optimus business, while the company is also working to expand its emerging Robotaxi service.

On September 12 local time, it was reported that Tesla had received approval from the state of Nevada to test its Robotaxi service on public roads.