Tesla rallies, as Apple unveils new products hoping to wash off China news | MarketTalk: What’s up today? | Swissquote

Show notes

Tesla jumped 10% yesterday and reversed morose mood due to the Apple-led selloff as Morgan Stanley raised its price target from $250 to $400 a share.
Tesla rally helped the S&P500 make a return above its 50-DMA, as Nasdaq 100 jumped more than 1%. Apple recorded a second day of steady trading after shedding almost $200bn in market value last week. Apple will unveil new products today hoping to change headlines.
Elsewhere, ARM IPO has been oversubscribed by 10 times already and bankers will stop taking orders by today. The promising demand could also encourage an upward revision to the IPO price, and we could eventually see the kind of market debut that we like!
In the bonds market, the US 2-year yield is steady around the 5% mark before tomorrow’s much-expected US inflation data, while the EU Commission itself cut the outlook for the euro-area economy. There is no clarity regarding what the European Central Bank (ECB) will decide this week. The economy is slowing but inflation will unlikely to continue its journey south, giving the ECB a reason to opt for a ‘hawkish’ pause, or a ‘normal’ 25bp hike.
Listen to find out more!