A look at the day ahead in U.S. and global markets from Mike DolanAn overdue cold shower?July 20 : The first of the supercharged Big Tech firms to report in this earnings season - Tesla and Netflix - seemed to underwhelm markets overnight, cutting across the enthusiastic reception for big banks and kno
July 20 : The first of the supercharged Big Tech firms to report in this earnings season - Tesla and Netflix - seemed to underwhelm markets overnight, cutting across the enthusiastic reception for big banks and knocking back bulled-up Wall St from 2023 highs.
Although electric car giant Tesla comfortably beat second quarter profit forecasts, markets seized on plans for continued price discounting and squeezed margins as a reason to drag its shares down almost 4 per cent in overnight trading. The stock price pullbacks seemed more of a recalibration of an overcooked sector, however, with bank shares by contrast advancing 1.70 per cent on Thursday and gaining for a third straight session. Citizens Financial and US Bancorp both jumped more than 6 per cent on impressive earnings updates.
Rising wheat prices aggravated the food price picture after Russia attacked Ukraine's grain exporting ports following Moscow's withdrawal from the Black Sea export deal this week. Wheat rose another 2 per cent to three-week highs, having gained 16 per cent over the past 5 days, but remains down almost 10 per cent on a year ago.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia stocks gain; US futures slip after Netflix, Tesla earningsSINGAPORE : Asian stocks rose and sterling stumbled on Thursday as cooling UK inflation lifted risk appetite ahead of central bank meetings next week, while disappointing earnings results from Netflix and Tesla pushed U.S. futures lower.Meanwhile, China's yuan shot up after authorities tweaked cross-borde
Read more »
Marketmind: Gap between Asia and world markets widensA look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.Whatever is driving Wall Street higher - the finishing line of the Fed's rate-hiking cycle, a falling dollar or strong earnings - it is not really filtering through to Asian markets.The disconnect between Asia
Read more »
US opens new special probe into fatal Tesla crashWASHINGTON : The National Highway Traffic Safety Administration said Tuesday it is opening a new special crash investigation into a fatal accident in California involving a 2018 Tesla Model 3 where advanced driver assistance systems are suspected of having been used.Since 2016, NHTSA has opened more than
Read more »
Tesla to expand Europe's biggest car plant, cell productionBERLIN :Tesla is planning sweeping changes to its factory near Berlin, including extensions to its battery cell production, indicating ramp-up plans remain underway despite a recent shift in focus to scaling up in the United States.A day after Tesla sought to assuage local concerns with a question-and-answer
Read more »
Tesla plans sweeping expansion to Berlin plant, cell production(Refiles to specify location of plant in headline)By Victoria WalderseeBERLIN :Tesla is planning sweeping changes to its factory near Berlin, including extensions to its battery cell production, indicating ramp-up plans remain underway despite a recent shift in focus to scaling up in the United States
Read more »
Tesla to hand over Musk's emails to JPMorgan in lawsuit over 2018 tweetNEW YORK : JPMorgan Chase will get to review some of Elon Musk's emails as it pursues a lawsuit against Tesla over a bond contract dispute that arose after Musk tweeted he might take his electric car company private.In a Wednesday hearing in Manhattan federal court, U.S. Magistrate Judge Ona Wang gave Tes
Read more »