In the wake of European markets, Wall Street Stock Shares expected to fall. Futures contracts point to an opening of Wall Street in the red. The renewed tension between the world’s two leading powers appears to be returning to the fore. China officials said the United States had ordered its consulate in Houston to be closed immediately. A spokesman for the Chinese Foreign Ministry said the move was initiated unilaterally by the United States and that China would “react with firm countermeasures” if Washington does not “revoke this erroneous decision.”
After the agreement between the European Union leaders, investors are observing progress towards a massive support plan in the US. However, the game is far from won, and it will undoubtedly still be necessary to wait several weeks before a possible compromise between Democrats and Republicans.
While awaiting the arrival of one or more vaccines on the market, the Covid-19 pandemic continues to progress. In the United States, more than 141,000 people have lost their lives. In contrast, 3.85 million have been infected, according to data from Johns Hopkins University, which is the reference in the matter.
Finally, the earnings season is in full swing on Wall Street. After United Airlines, Texas Instruments, and Snap last night, Microsoft, Blackstone, Intel, and Tesla’s shares and Daimler will follow today.
Crude prices also consolidate this morning. WTI lost around 1.5% as an ounce of gold rose 0.25% to $ 1,848, the highest for nine years. In the currency market, the euro moves to an 18-month high against the greenback, at $ 1.152 between banks.
Tesla stock shares: a gesture for Chinese customers
From students to those who took loans to buy Tesla stock shares early on are laughing on their way to the bank.
From $230 a share, Tesla’s share price has grown more than six-fold. It reached $1,500 on Monday and surpassing its rivals to become the world’s most valued automaker.
Tesla shares intend to continue to profit from its popularity in China. As Elon Musk’s group sees the competition intensify, it lowered the amount of the non-refundable deposit that buyers must pay to afford a Model 3, Model X or Model S. Tesla is now asking a guarantee of 1,000 yuan ($143) against a refundable bond of up to 20,000 yuan previously.
This reduction coincides with the latest cut in subsidies in China for the purchase of electric cars, increasing the price of certain vehicles. Whilst Tesla lowered the price of its locally made Model 3 in April to meet stricter subsidy criteria, some of its models are no longer eligible for such government aid.
Tesla shares will be particularly interesting to observe this evening with the publication of the accounts for its second quarter. The consensus expects an adjusted loss per share of 15 cents for revenues of $ 5.2 billion. But some analysts believe that Tesla shares could finally be profitable in this quarter. Investors are eagerly awaiting Tesla’s results for the quarter ended at the end of June, this Wednesday after the bell, as profitability will cause the stock shares to enter the S&P 500, and this is already considered a fait accompli among the bulls.
