@educate2trade: Tesla Reports Earnings With earnings season kicking into high gear, Tesla will be one of the first U.S. big tech companies to report, with results due after the close of trade on Wednesday. Tesla shares have taken a hit this month, following the unveiling of its long-awaited robotaxis, which some investors viewed as lacking in concrete details. Year-to-date, Tesla shares have underperformed the S&P 500 losing around 11% compared to the broader index’s 22.5% gain. Though investors are more upbeat about the U.S. economy after a robust jobs report and last month’s 50 bps rate cut from the Federal Reserve, a soft earnings report from Tesla could revive worries about tech stock valuations. Stretched valuations - the S&P 500 is trading at nearly 22 times forward earnings - along with high expectations for corporate results and potential volatility around the upcoming U.S. presidential election, could leave stocks vulnerable to a pullback.

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Wednesday 23 October 2024 09:27:10 GMT