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Esha DeyFortune |
The hope is that their stance on big expenditures, like real estate or major machinery, will offer clarity into how they see the economy.
Tesla's stock extended losses Monday, dropping below a price at which Commerce Secretary Howard Lutnick predicted they’d never fall to again.
“People’s experience with the stock market in Trump’s last term is skewing their perception of what to expect in this frothy market.”
Shares in the electric vehicle maker have soared 31% since Trump’s decisive win, leaving analysts’ price targets in the dust.
Shares closed up 8.2% at $321.22 Friday, taking their gains this year to 29%, and Tesla’s market value to about $1.03 trillion.
"We are not positioning for an outcome in the election because it is a coin flip. It does not make sense to make a bet."
Earnings for S&P 500 companies, excluding the Magnificent Seven, are set to grow 7.4% in the second quarter, after five straight quarters of declines.
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