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2024
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24
📰 S&P 500 HOLDS GAINS AFTER FLASH PMI DATA
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📰 S&P 500 HOLDS GAINS AFTER FLASH PMI DATA
October 24, 2024
Frank
S&P 500 HOLDS GAINS AFTER FLASH PMI DATA
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📰 $TSLA – TESLA SEEN RETURNING TO GROWTH AS COST CUTS SETTLE IN Tesla is executing well on a cost-cutting program and is on track to start producing a lower-cost vehicle, Oppenheimer analysts say in a research note. They see the EV maker returning to growth and margin expansion. Tesla should benefit from a rise in vehicle availability from traditional automakers, as that will have more prospective buyers doing some comparison shopping and realizing Tesla’s cost and technology leadership, the analysts say. The company has also gotten a boost from lithium procurement efforts, though those battery cost tailwinds are expected to show diminishing returns once lithium prices stabilize, the analysts say. Shares rise 17% to $249.73.
📰 US SEP NEW HOME SALES +4.1% TO 738K; CONSENSUS 720.0K US AUG NEW HOME SALES REVISED TO 709.0K FROM 716.0K US SEP NEW HOME SALES SUPPLY AT 7.6 MONTHS
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