MarketsmithIndia Articles

Dow Jones Futures: Market Rally Takes Big Step, Janet Yellen Says Fed Rate Hikes A 'Plus'; Tesla Model S Plaid+ Cancelled

Posted Date: June 07 2021
Dow Jones futures were little changed Monday morning, while S&P 500 futures and Nasdaq futures fell modestly. Treasury Secretary Janet Yellen said Fed rate hikes would be a "plus," echoing previous comments earlier this year. Meanwhile, Tesla (TSLA) CEO Elon Musk said the Model S Plaid+ has been cancelled, saying the soon-to-launch Plaid is "just so good."
The stock market rally had a dramatic turnaround Friday, with the S&P 500 closing at a record high while the Nasdaq rebounded bullishly back above its 50-day line.
Google parent Alphabet (GOOGL), DocuSign (DOCU), Broadcom (AVGO), InMode (INMD) and Dell Technologies (DELL) are all near buy points. Google, Dell and DOCU stock are already flashing early entries.
Notably, all five boast multiple quarters of accelerating earnings and sales growth. Superior fundamentals are a great foundation for winning stocks.
On Sunday, Musk tweeted that the Tesla Model S Plaid+ has been "cancelled."  He said, "No need, as Plaid is just so good."
Tesla Model S Plaid+ deliveries had been set for mid-2022, pushed back from late 2021. The EV maker had recently stopped taking orders on the Plaid+.
The Model S Plaid+ was supposed to use the upcoming 4680 battery cells. Tesla has promised big improvements with the 4680 batteries, but mass production may not occur until well into 2022.

What do you think? Please email us any questions or comments.

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.

Related Article