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Bloomberg
an hour ago
- Bloomberg
ING Sees Dollar Respite After Tariffs Boost Inflation
The dollar is headed for a few months of gains after tariffs raise inflation and force the Federal Reserve to delay interest rate cuts, according to ING Bank NV strategist Chris Turner. The greenback can find some respite from its spiral this year as trade levies will spark consumer-price growth acceleration from August onward, limiting the Fed's rate cuts, Turner said in an interview. During this time, he expects the euro to briefly dip back into the $1.13-$1.15 range and the yen to weaken to 145-150 per US dollar. That would represent a drop of about 4% for both the euro and the yen.
Yahoo
an hour ago
- Yahoo
Tesla Is Jumping Today -- Is the Stock a Buy?
Tesla stock is climbing today thanks to macroeconomic catalysts and the market's reaction to the company's recent deliveries report. While Tesla's Q2 deliveries fell short of the average analyst estimate, they weren't as bad as some forecasters had feared. Tesla has some big growth opportunities in new markets, but weakness for the core EV business makes the stock very risky in the near term. These 10 stocks could mint the next wave of millionaires › After sell-offs in yesterday's trading, Tesla (NASDAQ: TSLA) stock is rising Wednesday. The company's share price was up 4.6% as of 2 p.m. ET amid the backdrop of a 0.3% gain for the S&P 500 and a 0.7% gain for the Nasdaq Composite. The stock had been up as much as 5.4% earlier in the session. Tesla published its second-quarter vehicle delivery figures yesterday, and the company's valuation is climbing despite a big performance drop-off. News that the U.S. has reached a trade agreement with Vietnam is supporting bullish momentum for the stock, and a much weaker than expected June jobs report from ADP also has some investors ramping up bets that the Federal Reserve will cut interest rates at its meeting. With the report that it published this morning, Tesla announced that it had delivered 384,000 vehicles in this year's second quarter -- a 14% year-over-year decline. Meanwhile, the average analyst estimate compiled by FactSet had called for the business to deliver 387,000 vehicles in the period. Despite some rallies connected to the company's robotaxi business and opportunities in artificial intelligence (AI) and robotics, Tesla still ranks as this year's worst-performing "Magnificent Seven" stock. As of this writing, the company's share price is down roughly 22% across 2025. Even though the company has seen a substantial valuation pullback across this year's trading, Tesla is still valued at approximately 10.5 times this year's expected sales and 168 times expected earnings. While earnings headwinds are expected to moderate somewhat, the company is also still trading at approximately 111 times next year's expected earnings. Tesla should be able to score meaningful wins in the robotaxi business, but these wins will take time to materialize -- and the core business is struggling. While Tesla still has the potential to be a winner for investors with a very long time horizon, the significance of the challenges facing the EV business suggests that investors may be able to build positions at a better entry point. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $397,573!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $39,453!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $697,627!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 30, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Tesla Is Jumping Today -- Is the Stock a Buy? was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
an hour ago
- Yahoo
Consumer spending is weakening, the job market is getting worse, and investors love it
U.S. stock futures were down marginally by 0.2% this morning following another all-time high by the S&P 500 index yesterday. Macro data is starting to look weaker. Consumer spending was down in May and the job market is getting worse for employees. That suggests the Fed may cut rates in September, analysts say, which would be good for stocks. Consumer spending is weakening. The job market is getting worse for workers. And U.S. stock investors are loving it. The S&P 500 rose 0.52% yesterday, hitting an all-time high for the second day in a row. S&P 500 futures were down marginally by 0.2% this morning, premarket, indicating that investors don't anticipate anything dramatic like a mass selloff. Why the joy amid so much impending misery? Because the deteriorating macro picture suggests that the U.S. Federal Reserve may cut interest rates sooner rather than later. And cheap money is usually good for stocks. The stock market is climbing 'the wall of worry,' as Goldman Sachs put it in a note seen by Fortune. A key event will be this week's U.S. jobs report. Pantheon Macroeconomics expects it to be not great: 'We're looking for a 100K increase in June nonfarm payrolls, due Thursday, with private jobs rising at the same pace, as well as an uptick in the unemployment rate to 4.3%, from 4.2% in May. This would signal the labor market is cooling, albeit too slowly for the FOMC to rush ahead and ease policy this month, before it has had more time to gauge the size of the uplift to inflation from the tariffs,' Samuel Tombs and Oliver Allen told clients, referring to the Federal Open Market Committee. Consumer spending is softening too. It decreased by 0.3%, month on month, in May. If inflation remains low, the Fed may move in September, Goldman said. 'We are pulling forward our forecast for the next [Fed rate] cut to September. We had previously expected a cut in December because we thought that the peak summer tariff effects on monthly inflation would make it awkward to cut sooner. But the very early evidence suggests that the tariff effects look a bit smaller than we expected, other disinflationary forces have been stronger, and we suspect that the Fed leadership shares our view that tariffs will only have a one-time price level effect. And while the labor market still looks healthy, it has become hard to find a job, and both residual seasonality and immigration policy changes pose near-term downside risk to payrolls,' Jan Hatzius and his team told clients in a note. Here's a snapshot of the action prior to the opening bell in New York: S&P 500 futures were down 0.2% this morning, premarket. The S&P 500 rose 0.52% yesterday, hitting an all-time high for the second day in a row. Japan's Nikkei 225 sold off by 1.24% this morning. Hong Kong's Hang Seng was also down, by 0.87%. The Stoxx Europe 600 was headed down marginally in early trading. This story was originally featured on Sign in to access your portfolio
