Tesla and BYD post record quarterly sales as competition heats up! | MarketTalk: What’s up today? | Swissquote

Show notes

The first half of the year ends on a positive note for equities and not so much for the bonds. This is the exact opposite of what was predicted. The S&P500 hit a fresh year high at the last trading day of the first half and gained more than 17% so far this year, while Nasdaq 100 soared more than 40%! Apple hit $194 per share, and closed last week with a valuation above $3 trillion.
Of course, this incredible performance makes many investors wonder whether the equity rally could continue in the second half.
This week, US jobs data, Reserve Bank of Australia (RBA) decision and OPEC meeting with industry executives will be in focus.
Oil prices remain mostly ranged despite OPEC’s malicious efforts to boost them artificially. This week’s meeting is not a policy meeting so there won’t be any production cuts, or any important decision from OPEC, but what we could well hear slowing demand forecasts, which would then bring traders to assess another production cut from OPEC down the road. In all cases, we have seen clearly that cutting production hasn’t been enough for a sustained price rally so far. Therefore, any rally triggered by comments could be interesting top selling opportunities for short-term traders.
In the EV space, Tesla delivered a record number of cars worldwide in Q2, while the Chinese BYD did better than Tesla, selling more than 700K cars last quarter, its best-ever quarter as well. BYD shares jumped 2.70% in Hong Kong.
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