Wall Street rises on 1st trading day of 2022; Apple hits $3 trn market cap

Tesla charges ahead on better-than-expected deliveries; banks gain as Treasury yields rally on rate hike hopes

US stocks rose on Monday, with Apple Inc hitting a $3 trillion market capitalization and Tesla Inc posting bumper delivery numbers, giving investors cheer on the first trading day of the new year.

Apple's shares rose 2.5% to $181.96 after it became the first company to reach that milestone.

Tesla climbed 12.4% after the company's quarterly deliveries beat analysts' estimates, riding out global chip shortages as it ramped up production in China.

The two stocks gave the biggest boosts to the S&P 500 .

"Those are the two big drivers for the S&P," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.

But