Tesla (TSLA) shares climbed in midday trading Thursday after CEO Elon Musk announced the company will begin taking preorders in March for its lower cost Model 3. The car has a price tag of $35,000. Stocks extended gains in a calmer day of trading as China’s markets closed to commemorate World War II. The energy sector led markets as crude oil spiked above $47 a barrel. European Central Bank President Mario Draghi also fueled positive market sentiment after showing a willingness for further quantitative easing to jump-start the economy. Draghi noted the ECB could extend its asset-buying program past September 2016 if needed. Joy Global (JOY) tumbled after quarterly profit fell 37%.
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