Powell Sees Work to do, Tesla Deliveries Fall, and the Market Loves It | Herd on Wall Street
Morning traders! The market is advancing on Tuesday, July 2nd, but Indexes are mixed. My name is Kevin Travers, and I am watching lower Tesla delivery numbers year over year inspire the largest stock price run-up for Tesla for the last couple of months.
I tested out launching this podcast post after the market closed, but I got far less comments! Anyway, here are stories from the moomoo herd on Wall Street today.
$Tesla (TSLA.US)$ climbed 8.25%, the highest advancer on the S&P 500 and Nasdaq 100 after the firm said they produced 411,000 vehicles and delivered around 444,000 vehicles in Q2, compared to 466,000 in the same period last year.
The entire EV charging industry tracked by moomoo was following Tesla higher, lead by $Beam Global (BEEM.US)$.
$Opera (OPRA.US)$ was falling about 5% after the firm announced new AI fetures for their web browser. the firm is launching 40c a share dividends July 15th, and Monday was the last day to buy shares that recive a dividend.
In commodities, Wednesday, gold fell 0.12%, silver climbed 0,90%, while $Crude Oil Futures(NOV4) (CLmain.US)$ fell 0.29%. Bitcoin also declined, pulling back 1.43% toward $60K.
Indexes Tuesday were mixed after starting the second half of the year out advancing Monday. The $S&P 500 Index (.SPX.US)$ was trading +0.06% right after 11:15 am EST, while the $Dow Jones Industrial Average (.DJI.US)$ traded lower 0.03%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.24%.
There were 5500 advancers and 4800 decliners on the market overall.
Tuesday morning, Fed President Jerome Powell spoke at the ECB conference, saying there was progress on inflation, and disinflation was back on the menu. He gave no comment on whether he was a one-cut dot plot point or a two-cut dot.
"We want to be more confident that inflation is moving sustainably down...before we start loosening policy," he said. Officials want to ensure "that the levels we're seeing are a true reading on what is actually happening with underlying inflation."
He also said his largest worry for the economy was cyber security; he worries that a successful cyber attack on central banks could damage the economy.
Monday, the S&P Global US manufacturing index for June was revised down to 51.6 from the flash reading of 51.7, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:50 am ET. ISM Manufacturing's PMI for June came in at 48.5 vs. 49.2 estimated on Monday.
Wall Street will likely closely watch the U.S. government’s June employment report before the bell on Friday. Wall Street will want to gauge how many jobs the U.S. economy created in June, with a weaker, less-inflationary number possibly pointing toward future Federal Reserve rate cuts.
Yesterday, users were watching Roaring Kitty talk about Chewy
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
shamsury79 : Good
EZ_money : buy Rivian
103573725 :
xing6600 :