As I stand here at the iconic New York Stock Exchange, the buzz in the air is palpable. Today, we have a lot to cover on TheStreet, so let’s dive right in.
- The S&P 500 had a bit of a rollercoaster ride, but thanks to a surge in Nvidia shares, it managed to end on a positive note. All eyes are now on Micron’s upcoming earnings report and how Chipotle will fare post its 50-for-1 stock split. It’s a game of anticipation on Wall Street.
- The spotlight also shines on Friday’s impending inflation report—the PCE Price Index. This metric holds immense importance as the Federal Reserve uses it to gauge interest rate decisions. Investors are watching closely, eager for insights into the economy’s trajectory.
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However, not all news today is rosy. Two major automakers are facing recalls. Ford is calling back over 500,000 pickup trucks due to a serious transmission glitch that could lead to dangerous downshifting. On the other hand, Tesla is recalling 11,000 Cybertrucks over windshield wiper and trunk bed issues. This marks the Cybertruck’s fourth recall since its debut in November, with a recent one in April.
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Ford and Tesla seem to be no strangers to recalls this year, collectively recalling a staggering 6 million vehicles so far. It’s a stark reminder of the challenges automakers face in ensuring safety and quality control.
As the day wraps up here at the NYSE, remember to stay informed and vigilant in the dynamic world of finance and commerce. I’m Conway Gittens, signing off for TheStreet.
