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Elon Musk and venture capitalist Antonio Gracias revealed that over 2 million non-citizens received new Social Security numbers in FY 2024, claiming this was part of a larger effort to alter the voting landscape in the U.S. Musk criticized the Biden administration for enabling this influx, suggesting it aimed to create a permanent Democratic majority. The event in Green Bay, Wisconsin, also featured Musk distributing million-dollar checks to attendees who signed his political petition, further emphasizing his involvement in the upcoming Supreme Court election.
Goodyear Tire & Rubber shares rose 4% to $9 following Deutsche Bank's upgrade from "hold" to "buy," citing the company's potential to achieve $1.5 billion in cost savings and margin improvements by 2026. The brokerage maintains a price target of $13, indicating a 47% upside. With domestic manufacturing supporting U.S. demand, Goodyear is positioned to benefit from current tariff policies.
Deutsche Bank has reduced its 2025 US light vehicle sales forecast by 500,000 to 15.4 million due to impending tariffs affecting auto supply chains and prices. Analysts predict a short-term sales boost as consumers rush to purchase before price hikes, but a significant decline is expected afterward.In the tech sector, Palantir's shares fell amid concerns over government spending cuts, while Moderna's stock dropped 10% following the resignation of the FDA's vaccine chief, raising questions about vaccine safety. Overall, US stocks faced a slump, particularly in consumer discretionary and tech sectors, as fears of an economic slowdown intensified.
JPMorgan Chase & Co. (NYSE:JPM) ranks 7th among the best very cheap stocks to buy according to billionaires, with a forward P/E of approximately 13.2x and 14 billionaire investors backing it. Analysts remain optimistic about its growth potential, driven by investments in technology and a favorable market outlook, particularly in capital markets and M&A advisory. Despite this, some experts suggest that deeply undervalued AI stocks may offer greater returns in a shorter timeframe.
JPMorgan Chase & Co. is evaluated among the best very cheap stocks to buy, as the S&P 500 faces a volatile environment with elevated valuations entering 2025. Projections suggest an 11.5% earnings growth for the index, though challenges from tariffs may impact corporate profits unevenly. The technology sector is expected to maintain strong growth, with healthy balance sheets supporting anticipated earnings growth of over 20% in 2025.
Tesla's stock fell by as much as 6% amid concerns over President Trump's impending 25% tariffs on foreign autos, with CEO Elon Musk acknowledging the significant impact on the company. Analysts predict lower EV deliveries for the March quarter, with estimates ranging from 353,418 to 390,342 vehicles, as waning sentiment towards Musk and competition from Chinese EV makers like BYD weigh on sales. Additionally, protests against Musk and the anticipation of new models are contributing to short-term sales challenges.
Goldman Sachs has raised the probability of a US recession to 35% due to President Trump's tariffs, up from 20%. The bank anticipates that these tariffs will increase average rates on trading partners to 15%, leading to higher consumer prices and prompting the Federal Reserve to cut interest rates three times this year. Economic growth is projected to slow to 1.5% annually, reflecting the negative impact of the tariffs.
Clearstead Advisors has appointed Albert Leshinsky as its new senior managing director of advisor recruiting. With a strong background in the wirehouse and banking sectors, Leshinsky previously led advisor recruiting at JP Morgan Chase and served as deputy head of wealth manager recruiting at First Republic Private Wealth Management.
Elon Musk has labeled Minnesota Governor Tim Walz a "huge jerk" after Walz mocked Tesla's plummeting stock price during a town hall. This exchange highlights the increasing polarization in U.S. politics, as public figures engage in unfiltered disputes that resonate with their respective bases, further deepening partisan divides. Political analysts suggest such confrontations are likely to persist, reflecting a trend of incivility in political discourse.
Elon Musk has acknowledged that his role in the Trump Administration's Department of Government Efficiency (DOGE) is negatively impacting Tesla's stock price, which has dropped 48% since December. Protests against his government activities have emerged, coinciding with a 45% decline in Tesla sales in Europe and record trade-ins of older models. Analysts suggest that Musk needs to balance his commitments to both Tesla and DOGE to restore investor confidence.
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