Weekend reads: Why Wall Street has fallen out of love with Tesla — for now
Late on Wednesday, Tesla Inc. TSLA, -1.13% reported that quarterly sales were up 47% from a year earlier. But the stock tumbled 10% on Thursday.
Traders have placed large short bets against Tesla and two of its rival EV makers — Rivian Automotive Inc. RIVN, -3.56% and Nio Inc. NIO, +2.32%. Claudia Assis looks into how well those trades have been working out. A signal for the stock-market’s health The Dow Jones Industrial Average DJIA, +0.22% is up 6% this year. The venerable index has trailed the S&P 500, but its closing level of 35,255.18 on Thursday was only 4% shy of its record close a 36,799.65 on Jan. 4, 2022. Joseph Adinolfi explains Dow Theory, which according to technical analysts is sending a strong bullish signal for the stock market.
A hot vote in Spain Barbara Kollmeyer reports from Spain about a highly contested election on Sunday, with controversy over the government’s policies during the pandemic, parties’ social policies and the possibility of a coalition government that might rattle financial markets. The Federal Reserve is expected to raise interest rates again next week The Federal Open Market Committee will meet next Tuesday and Wednesday, to be immediately followed by a policy announcement. Economists expect the central to raise the federal-funds rate by another quarter point. The question is whether or not this will end the Fed’s inflation-fighting rate cycle.
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