Shares of technology companies rose as investors clamored for stakes in the leading sector of the 2020 stock-market rally.
Tesla shares rallied ahead of its addition to the Standard & Poor's 500. The electric-car maker will comprise roughly 1.7% of the broad index, according to estimates by brokerage Goldman Sachs Group.
In an apparent rebuke to Tesla investors, Toyota President Akio Toyoda said electric vehicles were overhyped and claimed advocates were underestimating the carbon emissions created by electricity production for the vehicles and the cost of infrastructure required to run them.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-17-20 1743ET
