Tesla reports earnings after the Closing Bell Wednesday. Wall Street expects about $3.28 Billion in quarterly revenue, and earnings per share loss of $3.12. The report comes on the heels of a major milestone for Elon Musk's other company SpaceX. CFRA Research's Efraim Levy shares what he is watching for in this report.
"The number one thing we are looking at is an update for the production of the Model 3," says Levy. "That's what all the profits are riding on at this point."
Unless results are dramatic, Levy expects the bulls and bears to dig into this stock wherever they are.
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
The U.S. economy added 272,000 jobs in May, far more than expected. But that number doesn't tell the whole story. Interest rate cuts could still be on the way.
