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FXI

TSLA

Tesla delivered 77,695 China-made electric vehicles in May, a 2.4% increase compared to April, according to the China Passenger Car Association.

Portfolio Pulse from Charles Gross

June 05, 2023 | 8:45 am

GLBS

HQY

JOAN

PEPG

SAIC

SAIC, HealthEquity, Globus Maritime, PepGen, and JOANN are stocks to watch on Monday. SAIC is expected to report earnings of $1.76 per share on revenue of $1.94 billion. Globus Maritime reported better-than-expected sales results for Q1. HealthEquity is expected to report earnings of 41 cents per share on revenue of $239.43 million. PepGen filed for a mixed shelf of up to $300 million. JOANN is expected to post a quarterly loss of 66 cents per share on revenue of $480.61 million.

Portfolio Pulse from Lisa Levin

June 05, 2023 | 8:11 am

QQQ

SPY

IMF Managing Director Kristalina Georgieva believes the Federal Reserve may need to implement more rate hikes due to the absence of a significant slowdown in lending and a resilient U.S. jobs report. Wall Street is currently focused on the debt ceiling crisis, with the SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) recording gains on Friday.

Portfolio Pulse from Bhavik Nair

June 05, 2023 | 7:31 am

USO

OPEC+ announced a limit on combined oil production to 40.463 million barrels per day in 2024, with voluntary cuts extended to 2024. Saudi Arabia will implement an additional 1 million barrel per day cut starting July. KeyBanc analyst Tim Rezvan sees this as bullish for oil prices but not a precursor to a super-spike.

Portfolio Pulse from Shanthi Rexaline

June 05, 2023 | 7:26 am

LULU

The Dow recorded its best day since January following strong jobs data and passage of a bill to raise the debt ceiling. Lululemon Athletica Inc. shares jumped over 11% after better-than-expected Q1 results. However, the CNN Money Fear and Greed index showed a decline in overall sentiment among U.S. investors.

Portfolio Pulse from Lisa Levin

June 05, 2023 | 6:52 am

QQQ

SPTL

SPY

TLT

Morgan Stanley predicts a 16% drop in S&P 500 earnings per share this year, potentially slowing the ongoing rally. The investment bank is bullish on equities in Japan, Taiwan, and South Korea, and recommends an overweight position in developed-market government bonds, including long-dated Treasuries and the dollar.

Portfolio Pulse from Bhavik Nair

June 05, 2023 | 6:45 am

ETRN

A mystery trader has made significant gains on an options bet related to the approval of a 300-mile natural gas pipeline as part of the US debt ceiling agreement. The bet involved 100,000 call options on Equitrans Midstream Corp (NYSE:ETRN), the company involved in the Mountain Valley Pipeline. The trade has raised insider trading concerns due to its timing.

Portfolio Pulse from Bhavik Nair

June 05, 2023 | 6:06 am

TSLA

All Tesla Model 3 variants now qualify for a $7,500 EV tax credit, up from the previous $3,750 for the Rear-Wheel Drive and Long Range versions. The change comes after the U.S. Treasury Department issued new guidance on battery sourcing in March.

Portfolio Pulse from Anan Ashraf

June 05, 2023 | 3:04 am

COP

Democratic Presidential candidate Marianne Williamson pledges to cancel ConocoPhillips' (NYSE:COP) Willow Project, a massive oil drilling venture in Alaska, if elected. She also promises to withdraw permission for the export of liquefied natural gas and focus on transitioning to a clean economy.

Portfolio Pulse from Bhavik Nair

June 05, 2023 | 2:54 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, traded flat on Sunday evening amid inflation fears and political turmoil over the US debt ceiling. Analysts predict a potential drop in the altcoin markets, while on-chain analytics firm Santiment suggests Ethereum could be on its way to $2,000 if the profit-taking transactions ratio decreases.

Portfolio Pulse from Mehab Qureshi

June 05, 2023 | 2:35 am