Tesla investors welcome Elon Musk’s move to step back from Doge – US politics live
Profits at the billionaire’s carmaker fell 71% amid a backlash over his role at the White HouseThough Elon Musk has acknowledged there have been “rocky moments” of late, he remained optimistic about Tesla’s future.“The future for Tesla is better than ever,” he said. “The value of the company is delivering sustainable abundance with our affordable AI-powered robots. If you say, what’s the ideal future that you can imagine, that’s what you’d want. You’d want abundance for all in a way that’s sustainable, that’s good for the environment. Basically this is a happy future, this is the happiest future you can imagine.”In a curious turn of events, it’s as if numbers show that even at the worst moment, Elon and the team’s operation can still bring a robust $19.3bn in revenue, with total revenue partly making up for the huge drop in auto revenue.If this is the worst it gets for Tesla, then certainly there must be some upside for the stock once tailwinds, such as the highly awaited cheaper model and the Robotaxi, finally hit the market later this year.I think more attention by Musk on Tesla is a net positive for the stock, but to see a meaningful move in the stock we would need to see a headline more like ‘Musk to leave DOGE to refocus on Tesla’.Donald Trump has said tariffs on goods from China will be reduced “substantially” but “won’t be zero”, after US treasury secretary Scott Bessent said he expects a “de-escalation” in the trade war between the world’s two largest economies. Trump placed import taxes of 145% on China, which countered with 125% tariffs on US goods, causing volatility in the stock market and concern about slowing global economic growth.Bessent has said that he expects a “de-escalation” in the trade war between the US and China and that the high tariffs are unsustainable. “I do say China is going to be a slog in terms of the negotiations,” Bessent said, according to a transcript obtained by the Associated Press. “Neither side thinks the status quo is sustainable.”Trump’s tariffs have unleashed a “major negative shock” into the world economy, the International Monetary Fund has said, as it cut its forecasts for US, UK and global growth.Trump has said he has no plans to fire the Federal Reserve chair, Jerome Powell. The president’s comment comes days after he called the central bank boss a “major loser” whose “termination cannot come fast enough”.The secretary of state, Marco Rubio, has announced a proposed reorganisation of the US state department as part of what he called an effort to reform it amid criticism from the Trump White House over the execution of US diplomacy.The embattled US defense secretary, Pete Hegseth, has defended his most recent use of the encrypted messaging app Signal to discuss sensitive military operations, blaming fired Pentagon officials for orchestrating leaks against the Trump administration.The US health secretary, Robert F Kennedy Jr, on has called sugar “poison” and recommended that Americans eat “zero” added sugar in their food. He acknowledged that the federal government was unlikely to be able to eliminate it from products, but said better labeling was needed for foods and that new government guidelines on nutrition would recommend people avoid sugar completely.Congressional lawmakers denounced the treatment of Mahmoud Khalil and Rümeysa Öztürk, the students being detained by US immigration authorities for their pro-Palestinian activism, as a “national disgrace” during a visit to the two facilities in Louisiana where each are being held.More than 150 presidents of US colleges and universities have signed a statement denouncing the Trump administration’s “unprecedented government overreach and political interference” with higher education – the strongest sign yet that US educational institutions are forming a unified front against the government’s extraordinary attack on their independence. Continue reading...
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Profits at the billionaire’s carmaker fell 71% amid a backlash over his role at the White House
Though Elon Musk has acknowledged there have been “rocky moments” of late, he remained optimistic about Tesla’s future.
“The future for Tesla is better than ever,” he said. “The value of the company is delivering sustainable abundance with our affordable AI-powered robots. If you say, what’s the ideal future that you can imagine, that’s what you’d want. You’d want abundance for all in a way that’s sustainable, that’s good for the environment. Basically this is a happy future, this is the happiest future you can imagine.”
In a curious turn of events, it’s as if numbers show that even at the worst moment, Elon and the team’s operation can still bring a robust $19.3bn in revenue, with total revenue partly making up for the huge drop in auto revenue.
If this is the worst it gets for Tesla, then certainly there must be some upside for the stock once tailwinds, such as the highly awaited cheaper model and the Robotaxi, finally hit the market later this year.
I think more attention by Musk on Tesla is a net positive for the stock, but to see a meaningful move in the stock we would need to see a headline more like ‘Musk to leave DOGE to refocus on Tesla’.
Donald Trump has said tariffs on goods from China will be reduced “substantially” but “won’t be zero”, after US treasury secretary Scott Bessent said he expects a “de-escalation” in the trade war between the world’s two largest economies. Trump placed import taxes of 145% on China, which countered with 125% tariffs on US goods, causing volatility in the stock market and concern about slowing global economic growth.
Bessent has said that he expects a “de-escalation” in the trade war between the US and China and that the high tariffs are unsustainable. “I do say China is going to be a slog in terms of the negotiations,” Bessent said, according to a transcript obtained by the Associated Press. “Neither side thinks the status quo is sustainable.”
Trump’s tariffs have unleashed a “major negative shock” into the world economy, the International Monetary Fund has said, as it cut its forecasts for US, UK and global growth.
Trump has said he has no plans to fire the Federal Reserve chair, Jerome Powell. The president’s comment comes days after he called the central bank boss a “major loser” whose “termination cannot come fast enough”.
The secretary of state, Marco Rubio, has announced a proposed reorganisation of the US state department as part of what he called an effort to reform it amid criticism from the Trump White House over the execution of US diplomacy.
The embattled US defense secretary, Pete Hegseth, has defended his most recent use of the encrypted messaging app Signal to discuss sensitive military operations, blaming fired Pentagon officials for orchestrating leaks against the Trump administration.
The US health secretary, Robert F Kennedy Jr, on has called sugar “poison” and recommended that Americans eat “zero” added sugar in their food. He acknowledged that the federal government was unlikely to be able to eliminate it from products, but said better labeling was needed for foods and that new government guidelines on nutrition would recommend people avoid sugar completely.
Congressional lawmakers denounced the treatment of Mahmoud Khalil and Rümeysa Öztürk, the students being detained by US immigration authorities for their pro-Palestinian activism, as a “national disgrace” during a visit to the two facilities in Louisiana where each are being held.
More than 150 presidents of US colleges and universities have signed a statement denouncing the Trump administration’s “unprecedented government overreach and political interference” with higher education – the strongest sign yet that US educational institutions are forming a unified front against the government’s extraordinary attack on their independence. Continue reading...
