Powell Sees Work to do, Tesla Deliveries Fall, and the Market Loves It | Herd on Wall Street

Kevin Travers joined discussion · Jul 2 10:16

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 $Beam Global (BEEM.US)$.

Powell Sees Work to do, Tesla Deliveries Fall, and the Market Loves It | Herd on Wall Street

$Opera (OPRA.US)$ 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 $Crude Oil Futures(OCT4) (CLmain.US)$ 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!

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