Dow, S&P 500 close at records | Tesla is now worth $1 trillion | Mastercard's big crypto move

U.S. stocks rose to record highs on Monday as investors prepared for a major week of earnings from heavyweight tech companies.

VIEW IN BROWSER | SUBSCRIBE MON, OCT 25, 2021 EVENING BRIEF AS OF MON, OCT 25, 2021 • 04:47 ET DJIA 35741.15 +0.18% +64.13 S&P 500 4566.48 +0.47% +21.58 NASDAQ 15226.71 +0.90% +136.51   Most Active DOW NAME LAST CHG %CHG AAPL 148.64 -0.05 -0.03% INTC 49.41 -0.05 -0.10% MSFT 308.13 -1.03 -0.33% S&P 500 NAME LAST CHG %CHG F 16.00 -0.28 -1.72% TSLA 1,024.86 +115.18 +12.66% AAPL 148.64 -0.05 -0.03% NASDAQ NAME LAST CHG %CHG TSLA 1,024.86 +115.18 +12.66% AAPL 148.64 -0.05 -0.03% AMD 122.36 +2.54 +2.12%   EDITOR'S NOTE Tesla joined the $1 trillion market cap club on Monday, helping the S&P 500 to a record high and extending Elon Musk's lead as the world's richest man.    Legacy automakers have outperformed this year thanks in part to their updated plans for electric vehicles, but Tesla's stock got a pair of shots in the arm on Monday with a price target hike from Morgan Stanley's Adam Jonas and an announcement from Hertz that it would order 100,000 Tesla vehicles to add to its rental fleet.    Those catalysts come as Tesla has impressed investors with its management of the supply chain issues that are hampering the global economy.    "Wall Street is starting to believe the skyrocketing move with Tesla's stock price is nowhere near over since Tesla has a massive lead in the EV space and improving growth potential as the US, European and Asian markets for electric cars grows," Oanda senior market analyst Ed Moya said in a note. "Tesla has done well during the global chip shortage that has devastated most car manufacturers.  Tesla's ability to accept alternative chips has provided them with an edge in getting closer to their demand targets." Market cap measures only the equity value of companies, and therefore is not a perfect way to compare different firms. Still, the size of Tesla is massive. Ford and GM, combined, have a market cap of less than $150 billion, or about one-seventh the size of Tesla.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow, S&P 500 close at records ahead of Big Tech earnings, Tesla jumps 12% Tesla hits $1 trillion market cap for the first time after Hertz says it will buy 100,000 electric vehicles Facebook beats on earnings despite revenue miss Democrats trim Biden's social spending plan as they rush to strike a deal this week Mastercard says any bank or merchant on its vast network can soon offer crypto services With Dow at a record, these 10 stocks are the favorites to lead the next leg higher U.S. to require contact tracing, Covid tests when international visitor curbs lift next month Economists expect shipping problems to linger well into 2022 One troubling trend during an otherwise spectacular earnings reporting season Moderna says its Covid vaccine generates strong immune response in 6- to 11-year-olds   TOP VIDEO Oil market today as tight as the 1990s, Jeff Currie says   CNBC PRO Goldman says these cheap stocks are insulated from inflation   SPECIAL REPORTS Beyond Meat plummets 60% since a January peak. Why this stock is 'misunderstood' Blackrock CEO Larry Fink: The next 1,000 billion-dollar start-ups will be in climate tech   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS