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Symbol TSLA
Name Tesla, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Automobiles & Components
Industry Automobiles
Market NASDAQ Global Select
Country United States
State CA
City Palo Alto
Zipcode 94304
Website http://www.tesla.com
The incoming Trump administration plans to roll back Biden"s fuel-efficiency standards, targeting regulations that promote electric vehicles and stricter emissions. This move aligns with Trump"s campaign promise to eliminate the so-called "EV mandate," despite no such mandate existing. The administration is expected to direct federal agencies to reconsider the recently finalized standards.
President-elect Donald Trump will attend the SpaceX Starship launch in Boca Chica, Texas, on November 16, 2024, alongside CEO Elon Musk and Sen. Ted Cruz. This event marks the sixth launch of the Starship, designed for reusable space travel, as Musk"s close ties with Trump grow, highlighted by his role in co-leading a new government efficiency department. SpaceX has faced scrutiny for environmental violations and noise concerns related to its launches, while the company continues to receive significant federal funding for its projects.
The Jeep Avenger EV, a compact electric vehicle, is attracting attention in Brisbane, particularly among younger buyers, despite its limited space for passengers. With a range of 400 km and a 54-kW battery, it offers a fun driving experience, though it lacks one-pedal driving and has a hard suspension. Priced competitively under AUD$50,000, it aims to carve out a niche in the city-focused EV market, having already won accolades like the European Car of the Year for 2023.
Protesters opposing the expansion of Tesla"s plant in Grueneheide, near Berlin, are being cleared by police, according to a spokesperson. The action comes amid ongoing tensions surrounding the electric vehicle maker"s operations in the region.
NVIDIA"s upcoming earnings report is poised to significantly influence market sentiment, with expectations of an 82.9% revenue growth to $33.1 billion, driven by strong demand for AI GPUs. The S&P 500 faced a 2.1% decline last week amid rising Treasury yields, with only financials and energy sectors showing gains. Market participants are closely watching the 5,861 support level, as a failure to hold could lead to further declines.
IG
Tesla"s 5.6% surge helped the Nasdaq end a four-day losing streak, while the S&P 500 rose 0.4%. In contrast, Nvidia"s shares fell 1.3% due to overheating issues with its new chips, impacting the S&P and Nasdaq negatively. Meanwhile, Super Micro Computer"s stock soared 16% after announcing compliance measures with Nasdaq.
Tesla shares surged 5.6% following reports of a federal framework for self-driving vehicle regulation, offsetting Nvidia"s 1.3% decline due to overheating issues with its new chips. The S&P 500 rose 0.4%, while the Nasdaq Composite gained 0.6%, marking a rebound after recent losses. Super Micro Computer"s stock soared 16% as it sought Nasdaq compliance, reflecting a broader positive sentiment in the market despite some headwinds.
Jim Cramer advocates for owning Tesla stock, emphasizing the influence of CEO Elon Musk rather than potential changes in self-driving regulations under President-elect Trump. Despite skepticism about the ease of implementing federal self-driving rules, Cramer highlights the "Elon premium" that elevates Tesla"s market position, distinguishing it as a tech company with a unique valuation compared to traditional automakers. Tesla"s stock rose 5.62% following reports of the Trump team"s interest in a federal framework for autonomous vehicles.
Asia-Pacific markets opened higher, buoyed by Wall Street gains and a Tesla rally, as investors await key speeches from Chinese financial officials at a summit in Hong Kong. The Reserve Bank of Australia is set to release minutes from its recent monetary policy meeting, where interest rates were held steady at 4.35%. Meanwhile, U.S. markets showed mixed results, with the Nasdaq rising 0.6% and the Dow Jones slipping 0.1%, amid concerns over the Federal Reserve"s rate cut trajectory.
Asian equities are set to rise, following gains in Wall Street stocks as Treasuries stabilized after a selloff that pushed 10-year yields close to 4.5%. Futures indicate increases in Tokyo, Hong Kong, and Sydney, with US contracts also climbing. The Nasdaq 100 rebounded, led by a 5.6% surge in Tesla Inc. amid reports of a federal framework for self-driving vehicles being prioritized by President-elect Trump’s transition team.
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