This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are.Tesla's annual deliveries dropped for the first time, falling short of expectations according to a StreetAccount consensus. Deliveries are the closest approximation of sales reported by Tesla.
Meanwhile, Tesla is replacing its president of global affairs, Nick Clegg, with Joel Kaplan, the company's current policy vice president and a former Republican Party staffer. This signals how tech companies are adapting. The European Union has been working to prepare for the potential risk of a recession. As the first trading day of the year opened, all major indexes advanced, raising hopes for a positive start to 2025. However, stocks lost their momentum, declining and closing the session lower. The S&P and Nasdaq have closed lower for five consecutive sessions, their longest losing streak since April. The 10-year Treasury yield began to climb, reaching close to 4.6% at 12 p.m. U.S. time, coinciding with the start of the stock market decline. The S&P 500 lost roughly 60 points between 12 p.m. and 1 p.m. Persistent high yields present a threat to stocks as they offer a safer alternative for investors. When Treasurys can provide a guaranteed 4.6% return, the risk associated with investing in stocks appears less attractive. Treasurys might be even more appealing this year as analysts anticipate the S&P to return significantly lower than its 23.31% surge in 2024
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