Tesla shares jumped 6.2% to $340.01 on Friday, outpacing the broader market, after Fed Chair Jerome Powell signaled a possible September rate cut in his Jackson Hole speech. The S&P 500 rose 1.5% and the Dow gained 1.9%.

Lower borrowing costs would make vehicle financing more affordable, boosting carmakers like Tesla.

Separately, Tesla raised the price of its high-end Cybertruck “Cyberbeast” to $114,990 from $99,990, adding a “Luxe Package” with Full-Self Driving, free Supercharging, and wheel protection. Other trims remain unchanged.

While the price hike isn’t expected to move the stock, it highlights Tesla’s push to expand self-driving adoption. Despite a 13% drop in first-half 2025 sales, shares are up more than 50% over the past year as investors bet on autonomy to drive future growth.