Tesla Stock Hit Again – Investor’s Business Daily

Shares of Tesla (TSLA) stock hurt the Nasdaq in the stock market today, but early Monday selling was subdued in the Dow Jones industrial average and S&P 500.

X

The Nasdaq slumped 1% in early trade, the S&P 500 gave back 0.5%  and the Dow Jones eased 0.2%.

Biotech Alkermes (ALKS) plunged 20% after the Food and Drug administration rejected the company’s application for a depression drug.

Walmart (WMT) underperformed in the Dow. Shares fell 2% on news the retail giant is in talks with health insurer Humana about deepening its existing partnership or possibly a takeover, according to multiple reports. Shares of Humana (HUM) jumped 7%

Meanwhile, China tariffs on about $3 billion of U.S. imports went into effect Monday.

Tesla Stock Hit Again

Tesla stock slumped nearly 7% in early trading, hurt by news late Thursday the company is recalling more than 100,000 Model S sedans for a power steering problem. Separately, Tesla confirmed Friday that Autopilot was engaged during a recent Model X crash in California that killed the driver.

Tesla is expected to report Q1 production and delivery figures for the Model 3, Model S and Model X sometime this week. Last week, Moody’s downgraded Tesla over its heavy cash burn and Model 3 production woes.

Trump Goes After Amazon Again

Meanwhile, President Trump’s Twitter attack on Amazon.com (AMZN) continued Saturday when he tweeted  the U.S. Post Office loses on average $1.50 for each package it delivers for the online retailer. Shares of Amazon fell 4% in early trading.

Amazon fell with other FANG stocks early Monday. Shares of Facebook (FB) lost nearly 2%, Netflix (NFLX) slumped 3% and Alphabet (GOOGL) gave back 1%.

It’s a busy week of economic data with the ISM manufacturing index due today at 10 a.m. ET. Factory orders and the ADP employment report will be out Wednesday, and the March jobs report will be released Friday. Economists expect nonfarm payrolls to increase by 167,000, down from 313,000 in February, with the unemployment rate ticking lower to 4%.

RELATED:

Why It’s Never A Good Idea To Buy A Stock ‘On Sale’

Will Quarterly Results From Cloudera, Ollie’s Bargain Outlet Impress?

These 5 Top Stocks Made This Bullish Move As Market Rebounded

Can You Make Big Stock Profits With Small Cash? Yes, Here Is The Way

Here’s Why The FANG Trade Might Finally Be Dead

Best Stocks To Buy And Watch

This Article Was Originally From *This Site*

Powered by WPeMatico