As the risk aversion heats up, the Dow opens 150 points lower and falls 6% more.2018-08-03 00:25:07 203 ℃
Market risk aversion sentiment The US stock index closed lower, the Dow fell 0.6%, the S&P fell 0.56%, and the Nasdaq fell 0.57%. Tesla rose 9% against the market, although earnings in the second quarter fell short of expectations, but revenues exceeded expectations, burning money slowed, and Model 3 production accelerated. The fight was much lower than 6%, and many law firms in the United States initiated class actions against them.
The S&P 500 index opened 15.84 points lower, down 0.56% to 2797.52 points. The Dow Jones Industrial Average opened at 151.02 points, a decrease of 0.60% to 25,182.80 points. The Nasdaq Composite Index opened at a low of 43.77 points, or 0.57%, to 7663.51 points.
Tesla rose 9%. Tesla announced its second quarter earnings for the 2018 fiscal year on Wednesday. The financial report shows that Tesla's second quarter revenue was $4.02 billion, up 43% from $2.79 billion in the same period last year; net loss was $743 million, a net loss of $401 million compared to the same period last year; attributable to ordinary shareholders The net loss was $718 million, an increase from $336 million in the same period last year. Tesla's burning rate is slowing, while Model 3's production is accelerating, and it is expected to continue to be profitable in the second half of the year. CEO Musk said he apologized for the bad performance at the previous conference.
After the earnings report, Wall Street investment banks raised their ratings for Tesla. JP Morgan Chase raised its target price for Tesla (TSLA) to $195, compared to $180. Evercore ISI raised the company's stock price target to $301, compared to $287. RBC raised the company's stock price target to $315, compared to $280. Oppenheimer upgraded Tesla's rating from the broader market to outperform the market.
There was a 6% drop, and Sina News said that Rosen Law Firm, Pomerantz LLP, Law Offices of Howard G. Smith, Faruqi & Faruqi LLP, The Schall Law Firm and Bronstein, Gewirtz & Grossman LLC have announced that they have launched a multi-layered class action lawsuit against investors to recover the losses suffered by investors.
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