Tesla Inc. plans to sell as much as $5 billion of shares, capitalizing on its high-flying price and on a recent stock split that made it more accessible to individual investors.

U.S. stocks briefly surpassed the all-time closing high reached before the coronavirus pandemic, propelled by surging technology shares. The dollar weakened, and Treasury yields rose to five-week highs.

Tesla Inc. is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company became the world’s most valuable automaker.

A gauge of global equities erased its losses for the year as U.S. stocks climbed on optimism that officials will come to terms on fresh economic stimulus. Gold extended gains amid speculation interest rates will stay low for longer.

Stocks pared losses as a rally in big technology companies tempered concern over a slow economic rebound. After the close of regular trading, Apple Inc., Amazon .com Inc., Alphabet Inc. and Facebook Inc. jumped as results crushed Wall Street estimates.

Tesla Inc.’s soaring valuation led to a downgrade by Sanford C. Bernstein analyst Toni Sacconaghi on July 28, who said it is difficult to justify the market capitalization even using best-case scenarios.

Wall Street’s rally got back on track July 27, while gold rushed to a record at the start of a week packed with potentially market-moving events.

Big technology companies powered stocks higher on Wall Street on July 20, extending the market’s gains after a three-week winning streak.

Nikola Corp. shares nosedived on July 20 as some investors will now be able to buy the company’s stock at a fraction of recent prices.

Tesla Inc.’s relentless surge continued July 13 amid several upcoming events that include the possible unveiling of new battery technology from the electric vehicle maker, entry into a lucrative new market and the potential inclusion of the stock into the prestigious S&P 500 Index.