The Zacks Analyst Blog Highlights: Tesla

For Immediate Release

Chicago, IL – April 6, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Tesla (NASDAQ:TSLA), Inc. TSLA.

Here are highlights from Monday’s Analyst Blog:

Dow, S&P 500 Reach New All-Time Highs; Nasdaq Within 3%

At the closing bell for the first trading day of a new week Monday, both the Dow and S&P 500 have set new all-time highs: +1.12% (374 points) and +1.44% (58 points), respectively. The Nasdaq finished up at its highest level in eight weeks, +1.67%, on strength in the Tech sector and Tesla. The index is now within 3% of its own all-time high. The small-cap Russell 2000 gained 0.49% on the day.

New Services economic prints came out yesterday morning after the regular trading session opened, with March PMI Services revised up to 60.4 today from 60.0 in its preliminary read, as well as 20 basis points higher than consensus. This marks the fastest output of growth since July 14th of last year, while new businesses expanded the most in six years. This also measured the highest input cost inflation ever recorded (the survey began in October 2009). It's all-time high was 61.0 in mid-2014.

ISM Services for March came in even stronger: 63.7% on the headline was the highest month-over-month jump on record (this survey began in the mid-1990s), from 55.3% reported for February. The segment growth by category read like catapults: Business Activity 69.4% vs. 55.5% a month ago; New Orders 67.2% vs. 51.9%; Employment 57.2% vs. 52.7; and Pricing 74.0% vs. 71.8%. The two segments that came in lower were Inventories: 54.0% vs. 58.9% and New Exports: 55.5% vs. 57.6%.

Bitcoin gained a modest 2% on the day, while the yield on the 10-year bond remained flat at 1.71%. After a couple weeks of accelerating rates on the 10-year, which temporarily shook investors out of their bullish stance, this has now plateaued at a level still 30 basis points below what the Fed targets as optimum inflation. In other words, economic data is firing on all cylinders at the moment — what's not to like?

For the remainder of the week, we'll see new reads on Job Openings, the Trade Deficit, minutes from the last FOMC meeting and Consumer Credit — all for February. There will also be a fresh Producer Price Index (PPI) for March at the end of the week, and of course Thursday's Jobless Claims. Aside from costs of material goods going and staying higher, pushing price points higher and limiting overall growth, there appears to be very little to take issue with at present.

Questions or comments about this article and/or its author? Click here>>

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the "Internet of Money" and predict it could change the way money works forever. If true, it could do to banks what Netflix (NASDAQ:NFLX) did to Blockbuster and Amazon (NASDAQ:AMZN) did to Sears. Experts agree we're still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks' has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.

See 3 crypto-related stocks now >>

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

support@zacks.com

https://www.zacks.com

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.