Trump-Musk Feud Sparks Tesla Share Price Concern as July Trading Begins
A fresh feud between former President Donald Trump and Tesla CEO Elon Musk is brewing, potentially influencing TSLA's share price. Meanwhile, Trump's 'Big Beautiful Bill' and fiscal policy are under scrutiny, affecting various sectors. The first trading day of July, historically bullish, is approaching, while job openings remain steady. The Fed's Chair Jerome Powell hints at interest rate cuts, and the ISM Manufacturing PMI shows slight improvement.
Trump's latest spat with Musk could impact Tesla's stock performance, given the significant U.S. support for the company. Musk's supporters, predominantly based in the U.S., may react to the feud. Meanwhile, Trump's 'Big Beautiful Bill' and fiscal policy are the main talking points, influencing multiple sectors.
The first trading day of July has consistently been bullish over the past 21 years, offering optimism for investors. Job openings have remained strong and steady since mid-2024, indicating a robust labor market. Fed Chair Jerome Powell suggested the Fed would have cut interest rates earlier if not for Trump's tariffs, signaling potential rate cuts ahead.
The ISM Manufacturing PMI edged up in June but remains in contraction territory. Construction spending fell for the seventh consecutive month in May, indicating ongoing challenges in the sector. UnitedHealth Group, Amgen, and Sherwin-Williams led the Dow Jones stocks to the upside, while Nvidia, Meta Platforms, and Netflix posted significant declines to start the third quarter. Warren Buffett and Berkshire Hathaway have doubled their holdings of U.S. Treasury bills, now holding nearly $350 billion.
The Trump-Musk feud could influence Tesla's share price, while Trump's fiscal policy remains a key focus. The first trading day of July offers optimism, and job openings remain strong. The Fed hints at potential rate cuts, and while manufacturing shows slight improvement, construction spending continues to decline. Market performance is mixed, with some sectors posting gains and others experiencing significant losses.
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