Broadcom stock surges and its market cap surpasses $1 trillion for the first time after CEO Hock Tan says the company’s artificial-intelligence opportunity over the next three years is ‘massive,’ while Tesla shares rise and the stock heads for a record closing high.

Key Takeaways Major U.S. indexes were slightly lower at midday Friday as markets pulled back from the post-election rally that sent them into record territory.Super Micro Computer shares tumbled amid concerns the stock could be removed from the Nasdaq 100 Index.

Few investors have benefited more from the post-election rally in US stocks than Elon Musk and his fellow Tesla shareholders.

Tesla stock looked set to rebound Friday after falling back from all-time highs in the previous session. Shares of Tesla fell 1.6% to $418.10 Thursday, snapping a six-day winning streak as the broader market slipped back.