Treasury Announcement More Important Than Fed's, Japan Abandons Yield Control, Tesla Under $200
Portfolio Pulse from The Arora Report
The U.S. Treasury's announcement of borrowing $1.592T over six months is causing investors to buy stocks. However, the details of the Treasury's issuance, which could significantly impact yields and bonds, are yet to be announced. Tesla's stock is trading below $200 due to lower than expected earnings from ON Semiconductor Corp, a supplier of silicon carbide chips for electric vehicles, and Panasonic Holdings Corp cutting battery production. This has also impacted other EV stocks and lithium stocks. Earnings from Caterpillar Inc., Pfizer Inc., Amgen, Inc., and BP plc are lower than expected. Bank Of Japan is abandoning strict yield control, which could negatively impact the U.S. stock market in the long term. China's factory activity has returned to contraction, and Eurozone inflation eases.
October 31, 2023 | 4:01 pm
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NEGATIVE IMPACT
Tesla's stock is trading below $200 due to lower than expected earnings from ON Semiconductor Corp and Panasonic Holdings Corp cutting battery production.
Tesla's stock price is likely to be negatively impacted in the short term due to lower than expected earnings from its supplier, ON Semiconductor Corp, and Panasonic Holdings Corp cutting battery production.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
The U.S. Treasury's announcement of borrowing $1.592T over six months is causing investors to buy stocks. However, the details of the Treasury's issuance, which could significantly impact yields and bonds, are yet to be announced.
The U.S. Treasury's announcement of borrowing $1.592T over six months is causing investors to buy stocks. However, the details of the Treasury's issuance, which could significantly impact yields and bonds, are yet to be announced.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100