U.S. jobs report, Powell speech, Fed minutes will be in focus this week.The InvestingPro Summer Sale is live: Subscribe for under $7/month!
Also on the agenda will be the minutes of the Federal Reserve’s June FOMC policy meeting, due on Wednesday, while Fed Chair Jerome Powell will participate in a policy panel before the European Central Bank Forum in Sintra, Portugal. Despite a challenging first half of the year marked by a series of price cuts and softer demand for electric vehicles, there have been indications that a demand turnaround is finally starting to take place as consumers recognize that no more major price discounts are coming.
Despite last week’s gains, shares are off by 20% year-to-date and are roughly 52% below their November 2021 all-time high of $414.50.It is worth mentioning that Tesla has an above-average ‘Financial Health Score’ of 2.9 out of 5.0, as assessed by InvestingPro's AI-backed models, highlighting its leading market position and long-term growth prospects in energy generation, storage, software, and AI.
Meanwhile, revenue is forecast to inch up 6% year-over-year to $2.67 billion, as strong beer sales outweigh a downbeat performance across its wine and spirits business.
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