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Tesla
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KULR Technology
-- 4.8000 Wall Street Today | Tesla grows revenue 42%, but automotive margins decline
MACRO
U.S. Home Prices Hit Record of $416,000 in June as Sales Continued to Slide
The U.S. housing market is rapidly cooling as record prices and rising mortgage rates weigh on home sales, locking out potential buyers. The median sales price of an existing home climbed to $416,000 in June, the National Association of Realtors said Wednesday, up 13.4% on the year and the highest since records began in 1999.
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Goldman Sachs CEO Says the Bank Sees A 50% Chance of Recession in the Next 2 Years
Goldman Sachs economists are calling a 50% chance of a recession within two years and a 30% chance in the next 12 months, according to CEO David Solomon. Solomon also pointed to the latest earnings reports to hit Wall Street, highlighting that while results have been somewhat lackluster, he see's "exogenous stimulants" that spurred increased market activity.
SECTORS
Energy Up as Natural Gas Hits 5-Week High
Shares of energy companies rose as natural-gas futures hit a five-week high on concerns Europe would face a supply crunch. Natural-gas futures rose 10% to a five-week high just above $8 per million British thermal units, after Russian President Vladimir Putin said the Nord Stream pipeline to Germany would reopen, but could be at one-fifth capacity.
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Gasoline Demand Stalls at Height of US Summer Driving Season
US gasoline demand remains below where it was this time two years ago as historically high prices keep more drivers off the road.
A small week-over-week rebound in demand last week was not enough to top the same period in 2020. On a seasonal four-week rolling average -- which smooths out weekly fluctuations -- consumption was just above the same time two years ago but below every other year going back to 2000, according to data from the US Energy Information Administration.
COMPANY
Tesla Grows Revenue 42%, But Automotive Margins Decline
$Tesla (TSLA.US)$ reported earnings after the bell, and the results sent the stock up slightly after hours. Tesla reported adjusted earnings of $2.27 per share on $16.93 billion in revenue in Q2 2022. Automotive margins decreased from last quarter and a year ago, impacted by inflation and more competition for EV components.
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Microsoft Cuts Many Open Job Listings in Weakening Economy
$Microsoft (MSFT.US)$ Corp. is eliminating many open jobs, including in its Azure cloud business and its security software unit, as the economy continues to weaken.
Ford Plans Up to 8,000 Job Cuts to Help Fund EV Investment
$Ford Motor (F.US)$ is preparing to cut as many as 8,000 jobs in the coming weeks as the automaker tries to boost profits to fund its push into the electric-vehicle market, according to people familiar with the plan.
Mattel Partners with Elon Musk's SpaceX to Launch New Line of Toys
$Mattel (MAT.US)$ Inc. has agreed to make SpaceX-themed toys in partnership with Elon Musk's rocket company. Starting in 2023, Mattel, the company that brought the world Barbie dolls and Hot Wheels, will begin launching SpaceX-inspired toys under its Matchbox brand, best known to generations of children for its toy cars.
Source: Bloomberg, Dow Jones, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Plan_B2 : Tesla has a lot up their sleeves imo however it is a highly volatile stock, seems to follow crypto pretty well and doge of course follows BTC and Tesla
Gotta love finding correlations between things. Anyway that’s for those who may not know ps ps always do ur own research
FYY Plan_B2 : Probably because Tesla owns a lot of cryptocurrencies. It said it converted about 75% of its bitcoin purchases into currency this time.
Plan_B2 FYY : They just dumped today apparently but maybe that was to boost earnings idk I’ll have to look more into it. I’m just not a Tesla person. I am a crypto lover. Gotta love blockchain tech
Manja BitzAbekDollar : goodcity