The Globe and Mail reports in its Tuesday edition that Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited U.S. inflation data due later this week. A Reuters dispatch to The Globe says that Canada's main stock index also rose, snapping a four-day losing streak, with shares of cannabis stocks up sharply. Tesla rallied 10 per cent after Morgan Stanley upgraded the electric-car maker to "overweight" from "equal weight," saying its Dojo supercomputer could boost the company's market value by nearly $600-billion (U.S.). Traders see a 93-per-cent chance that the U.S. Federal Reserve will hold its interest rates at current levels at its September meeting, while chances of a pause in November are 57 per cent. Toronto's tech sector rallied 1.6 per cent, helped by a gain of 14 per cent for BlackBerry. A rally in cannabis stocks accelerated after reports this month that U.S. President Joe Biden will support federal legalization of medical marijuana. Canopy Growth shot up 81.1 per cent, Aurora 73.6 per cent. Cannabis stocks are often the most shorted names on the Toronto market, which can lead to sharp price moves when short sellers need to cover positions.