|Day's Range||590.23 - 590.23|
Tesla shares are on the move higher as Barclays sees bullish signs for the EV-maker’s first quarter performance. Ina note this morning, analyst Dan Levy projects Tesla delivering 425K vehicles globally in Q1, beating what Barclays sees as consensus estimates of 420K vehicles - and that beat could be a another catalyst for the stock. Levy also sees some upside to production as well, writing “we believe commentary on the pace of production likely implies some upside, which we assume will be ~430k units in the quarter.”
Wall Street's main indexes cut gains on Monday as investors assessed risks to the banking sector following a buyout deal for Silicon Valley Bank's assets, while a rise in Treasury yields pressured rate-sensitive technology and other growth stocks. First Citizens BancShares Inc will acquire parts of Silicon Valley Bank, which collapsed earlier this month in the largest bank failure since the 2008 financial crisis, unleashing fears about a liquidity crunch in the sector.
Read this before you trade in your gas guzzler.