Tesla shares gain $16 billion in one day.. and UPS shares suffer heavy losses

S&P 500 falls for third straight session

Major U.S. indexes closed with collective losses on Tuesday as investors focused on inflation data this week to gauge the likely path of interest rates this year.

The February reading of the personal consumption expenditures price index, the Fed's preferred measure of inflation, is due on Friday when U.S. markets are closed for the Good Friday holiday.
A strong reading could shake market expectations about the timing of a rate cut.

Data released today showed orders for long-lasting manufactured goods rose more than expected in February, while business spending on equipment showed tentative signs of recovery.

Performance of major US indices:

The Dow Jones index fell 0.08%, or 31 points, on Tuesday, recording its third consecutive daily loss, closing at 39,282 points.

The Nasdaq Composite Index fell 0.4%, recording its second straight daily loss, ending a five-session winning streak.

The S&P 500 index also fell 0.3%, recording its third consecutive daily loss.

Trading volume on Tuesday was 10.4 billion shares on U.S. exchanges, below the average of 12.2 billion over the past 20 trading days.

Tesla shares

Tesla shares rose 2.9% in Tuesday's session, adding $16 billion to its market value in a single day and moving from 15th to 14th globally at the expense of JPMorgan.

The gains came after CEO Elon Musk offered Tesla drivers a one-month trial of full self-driving technology for existing and new customers in the United States.

UPS shares

United Parcel Service shares fell more than 8% on Tuesday, posting their biggest one-day loss in about two months after the company announced its 2026 outlook.

The world's largest parcel delivery company unveiled a three-year plan that prioritizes high-margin packages and dramatically cuts costs, but the trends were slightly worse than investors had expected.

Over the next three years, the company expects to spend about $6 billion on its plan, called the Network of the Future, to further automate its facilities and use robots to pack and sort packages.