As we previewed earlier, Wall Street expectations from TSLA's earnings today are rather stratospheric, but as Bloomberg notes, even if the company misses big, the S&P 500 likely won’t be in the doldrums tomorrow because of it. Why? Simply put, the electric-vehicle maker matters less than other high-profile stocks in the broad market gauge.
The world’s most popular digital currency, bitcoin, climbed 8% on Monday to $53,544 per coin, in a sign that the cryptocurrency market is recovering from a broad sell-off in recent days.
President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans and their investments to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.
Households around the globe have accumulated $5.4 trillion in additional savings compared with 2019's spending patterns, Moody’s has said. That equates to more than 6% of global gross domestic product.
America has turned into a consumption economy, according to veteran stockbroker Peter Schiff, who points out that economies can’t run on consumption because then they become “bubble economies.”
Bloomberg quickly polled several Wall Street traders who focused on the policy’s implications for investing, and concluded that while it was too soon to panic, prospects of a higher levy on stock profits could spark near-term selling as investors look to skirt a higher rate.
