Tesla slides, Elon eyes the future 23/04/2025

HOT stories for today
 

US market wrap:
 

• Wall Street rebounded solidly on Tuesday, snapping a losing streak as investors turned their attention back to earnings and fresh economic data after a tense few weeks driven by geopolitical tensions and inflation anxiety. The Dow Jones Industrial Average climbed 0.67%, adding over 250 points, while the S&P 500 gained 0.87% and the tech-heavy Nasdaq Composite led the charge with a 1.11% rise.
• Investors breathed a sigh of relief as major tech names posted strong performances ahead of earnings. Energy stocks also rose, supported by rising oil prices due to concerns around Iranian sanctions and tightening global supply. The market shrugged off recent Fed-related worries, with many now awaiting economic indicators and comments from central bank officials to better gauge policy direction.
   

Tesla slides, Elon eyes the futue

• Tesla’s Q1 earnings failed to ignite investor optimism, with the stock sliding more than 4% in after-hours trading. Revenue fell slightly short of expectations at $21.3 billion, while EPS just edged past forecasts at 45 cents per share. But it was the deeper story—shrinking margins, a 13% drop in deliveries, and cautious forward guidance—that rattled markets.
• CEO Elon Musk attempted to steer attention toward future innovations, promising a 2025 launch for Tesla’s robotaxi and progress on a lower-cost EV platform. Despite the fanfare, analysts and investors remain wary. With Tesla losing market share in China and facing increasing pressure from legacy and startup EV rivals alike, Musk’s focus on long-term AI and autonomy strategies wasn’t enough to counter short-term concerns.
   

Stocks on the move:

• Tesla (TSLA) dropped more than 4% after lackluster Q1 earnings and margin contraction.
• Enphase Energy (ENPH) tumbled 8% after offering weak forward guidance despite beating earnings expectations.
• Oklo (OKLO) soared 16% following investor enthusiasm around its public debut and next-gen nuclear tech.
• Bristol-Myers Squibb (BMY) dipped 2% after beating EPS estimates, with pipeline concerns clouding the outlook.
   

Today’s action

• Asian markets showed a mixed performance on Wednesday as investors processed Tuesday's U.S. rally and waited for new economic data. Japan’s Nikkei 225 ticked higher, while Korea’s Kospi edged slightly lower. Hong Kong’s Hang Seng Index slipped, and the Shanghai Composite remained flat.
• Dow Jones Industrial Average futures gained 416 points (1.06%), while S&P 500 futures jumped 1.45%, and Nasdaq 100 futures climbed 1.69%. The move followed Trump's Tuesday evening statement confirming that Powell will remain in his role through the end of his term in May 2026. Today, investors will turn their attention to key economic data and commentary, with a speech from Fed official Austan Goolsbee, Flash Manufacturing and Services PMI, and new home sales figures on the agenda.

Watchlist: TSLA, ISRG, PM, TMO, BA, BSX, NVDA, PLTR, CME

Bitcoin
 

• Bitcoin surged to an intraday high of $93,928, driven by technical momentum and renewed institutional interest. The appearance of a ‘golden cross’—where the 50-day moving average crosses above the 200-day—signaled bullish strength and sparked a wave of speculative buying.
• Ethereum and Solana also rallied, helping push the global crypto market cap higher. Analysts see crypto regaining its footing as both a hedge and growth asset, especially amid macroeconomic uncertainty.
  Watchlist: Bitcoin: 74 000-100 000, Ethereum:1500-2600, Solana: 80-150

Forex
 

• EUR/USD slipped for a second consecutive day on Wednesday, dipping to a one-week low near 1.1300 before recovering slightly to the 1.1380 range—still down over 0.35% on the day. A strengthening U.S. Dollar continues to pressure the pair. While the technical setup still favors bulls, a sustained break below 1.1300 could signal deeper downside ahead.
• USD/JPY remains firm as the Japanese Yen sees limited gains despite some dip-buying interest. Hopes for a U.S.-Japan trade deal and rising expectations of BoJ rate hikes in 2025 lend support to the yen, but improved global risk sentiment caps its safe-haven appeal. Optimism around trade and Trump’s softened stance on Fed Chair Powell also buoyed the dollar.
  Watchlist: EUR/USD: 1.0700-1.1600, USD/JPY: 140-144
   

Basic Materials
 

• Gold prices dipped from their recent highs near $3,500, as technical resistance and some profit-taking set in. Despite this, analysts expect support to hold firm due to persistent geopolitical tension and global economic uncertainty.
• WTI crude oil moved higher, climbing near $64 as supply disruptions and sanctions on Iran weighed on forecasts. Traders remain watchful of U.S. inventory data and Middle East developments for clues on direction.
  Watchlist: GOLD 2600-3500, US Oil: 57.00-70.00

Key Economic Events Today:

EST time
09:00 am: USD FOMC Member Goolsbee Speaks
09:35 am: USD FOMC Member Waller Speaks
09:45 am: USD Flash Manufacturing, Services PMI
10:00 am USD: New Home Sales
02:00 pm: USD Beige Book

Earnings

BMO (Before the US Market opens)
PM                 Phillip Morris
T                    AT&T Inc.
NEE               NextEra Energy
BA                 Boeing Comp.
AMC (After the US Market closes): NOW, TXN

The TEFS Analyst team wishes you a successful day!