June Nasdaq 100 E-Mini futures (NQM24) are trending up +0.53% this morning as Tesla surged on new EV promises and investors looked ahead to the next round of corporate earnings.
Tesla (TSLA) surged over +10% in pre-market trading, despite reporting a sharp drop in Q1 revenue, deliveries, margins, and EPS from a year ago. However, the automaker said it would speed up the launch of new vehicles, including more affordable models. “These new vehicles will utilize aspects of the next-generation platform as well as aspects of our current platforms, and will be able to be produced on the same manufacturing lines as our current vehicle line-up,” the company stated. In addition, BofA upgraded the stock to Buy from Neutral with a $220 price target.
