Tesla drops 6% afterhours as aggressive price cuts ate into profits | MarketTalk: What’s up today? | Swissquote

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Netflix dropped more than 3% yesterday as its subscription growth missed analyst estimates, while Tesla shed 6% in the afterhours trading as the price cuts that kicked off a price war in the EV sector did weigh on Tesla’s profitability last quarter.
Zooming out, US and European indices remain little changed at levels that look inviting for the bears.
In the FX, the US dollar index remains under pressure, as the Federal Reserve’s (Fed) Beige book pointed at slower hiring, lower inflation and tighter credit access in the past few weeks.
In New Zealand, inflation fell unexpectedly to 1.2% in Q1, versus an advance from 1.4% to 1.7% penciled by analysts. The softer-than-expected CPI shortly sent the kiwi below the 200-DMA against the US dollar.
In Japan, the dollar-yen kept pushing higher, and is testing the 135 resistance on expectation that the Bank of Japan (BOJ) could not do anything to scrap the yield curve control policy nor to normalize rates at next week’s policy meeting to make sure not to pull the rug from under the feet of the Japanese economy.
In commodities, gold slipped below the $1970 per ounce yesterday, while US crude slipped to $78pb despite a 4.6 mio fall in US crude inventories last week, versus only 400’000-barrel fall expected by analysts.
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