Federal Reserve leaders spoke on Tuesday, outlining their thoughts on the current state of the economy. Pence Capital Management chief investment officer Dryden Pence, explaining," would like to pivot, but I think it continues to move to the right because you have this tremendous robustness of the American economy. I think what people have forgotten is we've added so many workers; we've added 6.1 million new people working in this country since the height of pre-pandemic.
So that's something that is not creating any kind of obstacle for some of the gains that we're seeing, but just basically kind of a rebound move today.It's been consolidating over the last five days or so, hasn't moved much.But I've been told I have a minute here. And you can also see uh an interesting dynamic in the NASDAQ versus the Dow dow is in the green here, NASDAQ is in the red.But uh I'm gonna be talking in 30 minutes about uh kind of a change in leadership that we're seeing and maybe this will last, maybe it won't.All those doomsayers, those naysayers who thought the uh the market was going to zero nvidia up 6% today, meta, up 2% alphabet up 2%.
And as we get into this back half of the year, I think you're gonna begin to see earnings pick up, uh, in the 493 the broadening out of the rally.So corporate CFO S understand their cost of capital, they can plan better. So there's some room for the rest of the 493 just to catch up and they don't even have to catch all the way up.Well, that's a, that's a pretty strong move for the rest of those companies.You got a lot more horses in the race now and drive.We heard from Governor Lisa Cook said it would be appropriate to reduce rates at some point.
So I think we just continue to shift, right, sooner or later they pivot uh a quarter of a point and then they're gonna kind of wait and see. Uh and in particular, the forecast is getting some attention here, the fiscal 2025 adjusted earnings per share, it is predicting will be at 20 to $22 a share.You can see uh revenue coming in in line with estimates and adjusted earnings per share at 541.So that also supportive of the shares and they are seeing a 9% gain here in uh just as we see the the first blush reaction to those numbers.
This is again, that broadening out thing we just talked about because you're beginning to see that earnings or in real time, it's playing out in real time, which is a good thing. So I think that this falls into, into that and, and that's, that's a, that's a favorable thing for us. So, so everybody was able to raise their prices, but then they needed to come in behind that and actually get, impose some discipline.They can, they raise their prices almost as much as they can.So now if you wanna expand your margins, you've got to have some discipline, you now know what your cost of capital is.So I think Fedex is, is recognizing that and playing right into, into that.
Uh And so I think that we, that, that fedex is gonna be a great benefactor of that, but it's also a great read when you just look at at volume of package. The other thing that stood out to me is international yields did not perform well, but um, that us domestic package yields did perform better. Right, right, with the CEO RJ scarring talking about how uh him and Oliver Bluman, the Ceo of Volkswagen sort of made a deal here to to create a joint venture, uh 1 billion in funding coming in uh to make this.It's like kind of the backbone of some of the electric vehicles.Is this the this technology are gonna use across a number of of evs and it could be as much as $5 billion given uh the the progress of their, of their JJ V.
They make this sort of premium electric uh pickup truck, which I personally think looks really cool when you see it out and about.And as we just saw they're trading e even with this big increase, they're trading around 15. So looking at back in the hand math, we're talking about around 1700 vehicles a month Tesla made on average.
You think about um the cost of cooling that um that businesses have to spend on whether it's data centers uh increasingly or whether it's big box stores like Walmart, cooling their facilities or their warehouses, perhaps more surprising and more hidden really, the big impacts are around labor productivity.Currently, they estimate just from the hotter days due to climate change.
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