Tesla’s Share Price Jump After Record Quarter

Tesla’s earnings report beat analysts’ expectations, and its profit and net sales were higher than expected. Its shares rose more than 5% in the after-hours session, while Tesla CEO Elon Musk said the electric car maker could potentially produce 2 million cars in 2023. You can see Tesla’s quarterly results below. Profit (adjusted): $1.19 vs. $1.13 per share Refinitiv Revenue: $2 .32 billion vs. $2 .16 billion, Refinitiv Last year, Tesla posted revenue of $17.72 ($2 per $5 billion ($2 per $5 billion). for the August 2022 stock split) in the same quarter. After better-than-expected results from several companies, including Tesla and Levi Strauss, major US futures were higher in the after-hours session, with SandP 500 futures up about 0.32%, Nasdaq-100 futures about 0.62. %, while Dow futures were slightly higher at 0.18%. “It’s clear that we are now in an earnings season,” says Bill Northey, chief investment officer at US Bank. “There was positive news and less positive news.” Market participants will be watching the earnings of several companies during Thursday’s session, including American Airlines and Intel, while credit card companies such as Visa and Mastercard are also due to report quarterly. The focus could also be on unemployment benefits, gross domestic product, durable goods and new home sales. In the currency market, the US dollar index against other major currencies was near an 8-month low around 101.65, as many market participants expect meetings of several central banks next week, including the Federal Reserve, the European Central Bank and the Bank. . from England. . A string of disappointing earnings and weak forecasts for many companies, while many companies were laid off, fueled concerns about a slowing U.S. economy and many economists downplayed expectations of how high the Federal Reserve will eventually raise interest rates. “Now there are signs that the US economy may be slowing down in a more meaningful way,” Wells Fargo economists estimate. “With the Federal Reserve no longer guiding interest rates and US economic trends expected to worsen, we now believe the US dollar has moved into a cyclical bearish position against most foreign currencies.” The Federal Reserve will begin its two-day meeting next week, with markets predicting a 25-basis-point (bps) rate hike, a 50-basis-point Fed rate hike and a 75-basis-point hike in 2022. At the same time, many economists see the Bank of England and the European Central Bank (ECB) raise interest rates by 50 basis points, while the ECB may remain dovish at its next meetings. “The euro is getting a lot of attention,” said Jarrod Kerr, chief economist at Kiwibank. The euro area “had a favorable winter… The energy crisis that people expected has not been fully resolved.” Regarding the Bank of Canada’s interest rate decision on Wednesday, the central bank raised the benchmark interest rate to .5 percent but said it could delay the rate hike. Oil prices were roughly flat as market participants awaited further signals on supply, such as an OPEC panel meeting and looming EU sanctions on Russian refined products. Brent crude futures were down about cents to trade at $86.28 a barrel at 07 5 GMT, while the U.S. West. Texas Intermediate (WTI) crude oil futures rose about 31 cents to trade at $80. 6. The realignment of trade flows as OPEC heads into its next meeting,” Citi analysts note, while also adding , “The future EU embargo on Russian refined products remain. a key issue. Our concerns about the market and the broad position are expected to germinate.”

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