Shares of auto companies, including Tesla Inc TSLA, are trading higher during Tuesday’s pre-market session as investors react to lower-than-expected November Core CPI data.
Fed monetary policy tightening could begin to taper off as inflation cools down, which would positively benefit growth stocks. Also, a decline in Treasury yields is positively impacting the sector.
Tesla shares otherwise fell 4.64% during Monday’s session. The company’s approval rating reportedly fell according to a YouGov survey. The stock has also been under pressure amid reactions to CEO Elon Musk’s Twitter acquisition and social media activity…Read More
What’s Going On With CPI Data?
The headline CPI rose 7.1% in November, down from 7.7% in October, according to data from the U.S. Bureau of Labor Statistics.
The November CPI reading came in below average economist estimates of 7.3%.
Tuesday’s highly anticipated CPI inflation reading comes just a day ahead of the Federal Reserve’s final meeting of the year…Read More
According to data from Benzinga Pro, Tesla has a 52-week high of $402.67 and a 52-week low of $166.18.