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Why Is Carvana (CVNA) Stock Rocketing Higher Today

Shares of online used car dealer Carvana (NYSE: CVNA) jumped 6.3% in the pre-market session after Morgan Stanley analysts upgraded the stock's rating from Neutral to Buy. The analysts noted that the stock's recent pullback represented a "unique opportunity to build a position."

Consumer confidence is sliding as Americans' view of their financial futures slumps to a 12-year low

U.S. consumer confidence continued its sharp 2025 decline as Americans’ views about their financial futures slumped to a 12-year low, driven by rising anxiety over tariffs and inflation. The Conference Board reported Tuesday that its consumer confidence index fell 7.2 points in March to 92.9, the fourth straight monthly decline and its lowest reading since January of 2021. The reading was short of analysts expectations for a reading of 94.5, according to a survey by FactSet.