NEW YORK (AP) — U.S. stocks are ticking higher on Monday at the start of a week that could show whether Wall Street’s record-breaking rally has been overdone or prescient.

The S&P 500 rose 0.4% and was on track to squeak past its latest all-time high, which was set last week. The Dow Jones Industrial Average was up 43 points, or 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5% higher.

Tesla helped lead the way and rose 7.2% after Elon Musk bought stock worth roughly $1 billion through a trust. The electric vehicle company’s stock price came into the day with a slight loss for the year so far, and the purchase could be a signal of Musk’s faith in it.

That helped overshadow a 1.6% dip for Nvidia after China accused the chip company of violating its antimonopoly laws.

See Full Page