Wednesday’s Headlines: Why Did Tesla Jump 6%?
1. U.S. stock futures fell sharply on Wednesday morning, as another volatile session on Wall Street looks likely, with the Dow pointing to an opening loss of more than 600 points. This comes after a major rally on Tuesday which saw the Dow gain more than 1,100 points while the S&P 500 had its best one-day performance since Dec. 26, 2018. Investors keep monitoring the impact of the coronavirus on all the major economies, while President Trump suggested a 0% payroll tax rate that could last until the end of the year. Read the full story here.
2. Tesla stock popped more than 6% on Tuesday following a number of announcements, including reports that Tesla has now produced 1 million electric vehicles. CEO Elon Musk’s announcement comes at a time when several large automakers are making moves into the electric vehicle sector. That wasn’t all though, as the billionaire later took to Twitter to announce his intention to open a domestic Cybertruck factory somewhere in the central U.S. Get the full story here.
3. Continuing to bring you lighter news amidst all this coronavirus doom and gloom, Disney+ has arrived in India — weeks ahead of its scheduled launch date. The ‘happiest stock on earth’ revamped its Hotstar app and populated the on-demand video streaming service with Disney+’s original catalog on Wednesday morning. Unlike most other markets such as the U.S., Canada, and Australia; in India, Disney is launching Disney+ through the existing Hotstar service, which it acquired when it purchased Fox last year. Get the complete report here.