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☆ Stock futures are little changed as Wall Street awaits bank earnings: Live updates
▼ + stars: | 2024-04-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on April 10, 2024 in New York City. U.S. stock futures flickered near the flatline on Thursday night as traders looked ahead to the release of corporate earnings from major U.S. banks. S&P 500 futures and Nasdaq 100 futures were little changed. The muted action follows a sharp rebound for the S&P 500 and the Nasdaq Composite as tech shares led a comeback from Wednesday's inflation-fueled sell-off. On Thursday, Nasdaq gained 1.68% to close at a record, while the S&P 500 gained 0.74%.

Persons: Dow, Apple, Thomas Martin Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow, Bloomberg News, Apple, Nvidia, Globalt Investments, CNBC, JPMorgan Chase, Citigroup Locations: New York City, U.S, Wells Fargo, BlackRock

☆ UPS to replace FedEx as U.S. Postal Service's primary air cargo provider
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: +2 min

United Parcel Service will become the United States Postal Service's (USPS) primary air cargo provider, the company said on Monday, as rival FedEx announced an end to its more than 20-year partnership with the postal service provider. USPS was the largest customer for FedEx's air-based Express segment, even as payments declined after the postal service shifted letters and packages from planes to more economical trucks. 1 USPS domestic air contractor, FedEx had supported the agency's Priority Mail and other quick services. "The parties were unable to reach agreement on mutually beneficial terms to extend the contract," FedEx said in a securities filing on Monday. USPS' payments to FedEx shrank to about $1.7 billion in fiscal 2023, from $2.4 billion during the fiscal year ended September 2020.

Persons: Thomas Martin, FreightWaves Organizations: Parcel Service, United States Postal, FedEx, UPS, USPS, GLOBALT Investments, Air Line Pilots Association Locations: Atlanta

☆ Markets are still trying to find under-recognized growth companies, says Thomas Martin
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets are still trying to find under-recognized growth companies, says Thomas MartinThomas Martin, Senior Portfolio Manager at GLOBALT Investments, discusses inflation, rate cuts, and the broadening of stocks.

Persons: Thomas Martin Thomas Martin Organizations: GLOBALT Investments

☆ Stock futures are little changed Thursday evening after tech-led rally: Live updates
▼ + stars: | 2024-01-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

U.S. stock futures oscillated near the flat line on Thursday night. S&P 500 futures ticked down by 0.03%, while Nasdaq 100 futures added 0.01%. The S&P 500 added 0.88%, while the Nasdaq Composite climbed 1.35%. The S&P 500 and the Nasdaq are now positive for 2024. The S&P 500 is marginally lower by 0.06%.

Persons: iRobot, Joe Biden, Dow, Thomas Martin, Ally Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Street Journal, European Commission, Dow, Bank of America, Apple, Tech, Treasury, Globalt Investments, Regions Financial, Ally Financial, State Street, Traders Locations: New York City . U.S

☆ Wall St ends mixed, US Treasury yields spike on robust data, solid earnings
▼ + stars: | 2023-10-17 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Oct 17 (Reuters) - The Nasdaq dipped and benchmark U.S. Treasury yields surged on Tuesday as robust economic data and strong third-quarter earnings sugested the Federal Reserve may keep policy tight for longer than expected. Yields on two-year Treasury notes rose to 17-year highs with five-year yields at 16-year peaks. Emerging market stocks rose 0.48%. Benchmark Treasury yields spiked after the strong retail sales data led market participants to adjust their expectations regarding the duration of the central bank's tightening cycle.

Persons: Brendan McDermid, Chip, Joe Biden's, Goldman Sachs, Thomas Martin, Martin, Biden, Brent, Stephen Culp, Selena Li, Alun John, Sharon Singleton, Cynthia Osterman, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Nasdaq, Treasury, Federal Reserve, Dow, Semiconductor, SOX, Bank of America, Dow Jones, Japan's Nikkei, U.S, Thomson Locations: New York City, U.S, China, Philadelphia, Atlanta, Israel, Asia, Pacific, Japan, Hong Kong, London

"I don't think the price cuts are over, mainly for the reason that demand is still weak," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments. Tesla has already cut U.S. prices of its Model 3 compact sedan and Model Y SUV in October. The slump will continue into the fourth quarter and margins could dip below 15%, said Wells Fargo analyst Colin Langan. However, that likely falls short of offsetting the price cuts," Langan said. Tesla slashed the technology's price by a fifth in August and analysts said that more cuts could be on the cards.

Persons: Florence, China's, Thomas Martin, Elon Musk, Tesla, Wells, Colin Langan, Langan, Musk, Gary Black, Akash Sriram, Aditya Soni, Sayantani Ghosh, Arun Koyyur Organizations: Fair for Trade, Services, REUTERS, HK, Globalt Investments, Reuters, Visible Alpha, Fund, Reuters Graphics Reuters, Thomson Locations: Beijing, China, Europe, MEXICO, Nuevo Leon, Mexican, Bengaluru

Tesla vehicles are seen for sale at a Tesla facility in Fremont, California, U.S., May 23, 2023. Shares of the EV maker reversed course to rise marginally after dropping nearly 3% following the news of the delivery miss. Tesla has also been cutting prices aggressively to counter the effect of a slowing EV market, while fending off competition from upstarts and legacy players. Meanwhile, electric-pickup maker Rivian Automotive (RIVN.O) reported third-quarter deliveries above analysts' estimates and reaffirmed its annual production target of 52,000 vehicles. Deliveries of Tesla's premium vehicles, Model S and Model X, rose to about 16,000 units in the third quarter.

Persons: Carlos Barria, Tesla, Thomas Martin, Reuters Graphics Tesla, Ashwin Amberkar, Aditya Soni, Akash Sriram, Arun Koyyur, Anil D'Silva 私 Organizations: REUTERS, Ford, Globalt Investments, Reuters Graphics, Rivian, US, Canalys Research Locations: Fremont , California, U.S, China, United States, Bengaluru

☆ Tesla's deliveries expected to fall on plant shutdowns, soft demand
▼ + stars: | 2023-09-29 | by ( Aditya Soni | ) www.reuters.com time to read: +4 min

Visitors stand outside barriers surrounding Tesla's new Model 3 sedan displayed at the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 2, 2023. That would mark the first sequential decline in Tesla's deliveries since the second quarter of 2022. In the third quarter, Tesla slashed prices of its Model S and Model X by 14% to 21% in main markets China and the U.S. The company also cut its production plan at its German factory amid soft demand, a report by Business Insider said. The restyled variant comes with a higher price and is expected to launch in Europe and China in the fourth quarter.

Persons: Florence Lo, Tesla, Baird, Guggenheim, LSEG, Thomas Martin, Aditya Soni, Jaspreet Singh, Hyunjoo Jin, Shounak Dasgupta Organizations: Fair for Trade, Services, REUTERS, Barclays, Ford, Reuters, Business Insider, Detroit, General Motors, United Auto Workers, Globalt Investments, Thomson Locations: Beijing, China, Europe, U.S, United States, Bengaluru, San Francisco

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. The indexes also eyed their first quarterly declines so far this year heading into the last days of September. Consumer staples (.SPLRCS) and utilities (.SPLRCU) were the worst hit among the major S&P 500 sector indexes, while energy (.SPNY) was the top gainer. Meanwhile, Chicago Fed president Austan Goolsbee in an interview on CNBC stressed on the need to brining inflation back to the 2% target, after some Fed policymakers last week warned of further hikes. The S&P index recorded no new 52-week highs and 37 new lows, while the Nasdaq recorded 16 new highs and 225 new lows.

Persons: Brendan McDermid, Jerome Powell, Thomas Martin, Austan Goolsbee, Walt Disney, Jefferies, JD.com, advancers, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies Media, Nike, Dow, Nasdaq, Major U.S, Federal Reserve, Microsoft, GLOBALT Investments, Traders, Dow Jones, Chicago Fed, CNBC, Media, Netflix, PDD Holdings, Baidu, NYSE, Thomson Locations: New York City, U.S, Major, Bengaluru

☆ US stocks close at lowest since June, Treasury yields spike on hawkish Fed
▼ + stars: | 2023-09-21 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Interest rate-sensitive megacaps, led by Amazon.com (AMZN.O), Nvidia Corp (NVDA.O), Apple Inc (AAPL.O) and Alphabet Inc (GOOGL.O) dragged the S&P 500 and the Nasdaq to their lowest closing levels since June. "It gives people another chance to say that the lag time of higher rates – which we're just starting to feel – might really bite." All 11 major sectors of the S&P 500 lost nearly 1% or more, with real estate stocks (.SPLRCR) suffering its biggest one-day percentage drop since March. The S&P 500 posted three new 52-week highs and 29 new lows; the Nasdaq Composite recorded 22 new highs and 373 new lows.

Persons: Brendan McDermid, Jerome Powell, dampening, Thomas Martin, we're, –, Martin, Rupert Murdoch, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, FedEx, Broadcom, Google, Dow, Nasdaq, Treasury, Amazon.com, Nvidia Corp, Apple Inc, Inc, UAW, Dow Jones, . Semiconductor, SOX, Klaviyo Inc, Arm Holdings, Fox Corp, News Corp, NYSE, Thomson Locations: New York City, U.S, Atlanta, Philadelphia, New York, Bengaluru

With short sellers looking to profit from the stock, it closed at $55.17 after touching a high of $69 on Friday. Arm shares underperformed the Philadelphia semiconductor index (.SOX), which closed down 0.96% on Tuesday as rising bond yields weighed on growth sectors such as technology. Short sellers need to borrow a stock to short it, and the relationship between shares on loan and shorted is normally quite close, according to Ortex. By comparison, Tesla (TSLA.O), a stock with a similar percentage of shorted shares, has a cost to borrow at 0.48%, Ortex said. Arm's higher cost to borrow "can be an indication that the demand to borrow, and short, the stock is high," Hillerberg said.

Persons: Dado Ruvic, Daniel Morgan, Morgan, Thomas Martin, Ortex, Peter Hillerberg, Hillerberg, Needham, Lewis Krauskopf, Sinéad Carew, Lisa Bernhard, Mark Potter, Matthew Lewis Organizations: REUTERS, Arm Holdings, ARM, Nvidia, GLOBALT Investments, Bernstein, underwriters, Klaviyo Inc, Thomson Locations: Philadelphia, Atlanta, New York

☆ Wall Street gains, dollar softens as weak data signals Fed pause
▼ + stars: | 2023-08-30 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Weak economic data could be good news for interest rates, as it could give the Federal Reserve a rationale for letting key interest rates stand at next month's monetary policy meeting. GDPFinancial markets have currently priced in a 88.5% likelihood of a September Fed pause, according to CME's FedWatch tool. Emerging market stocks rose 0.11%. The greenback extended its losses, touching a two-week low against a basket of world currencies in the wake of disappointing economic data. Crude prices edged higher as industry data showed tighter-than-expected supply as investors digested Hurricane Idalia's potential effect on demand.

Persons: Jason Reed, Dow, Oliver Pursche, Thomas Martin, Martin, Sterling, Brent, Stephen Culp, Sharon Singleton, Nick Zieminski, Josie Kao Organizations: U.S . Federal, REUTERS, Federal Reserve, Nasdaq, Federal, Wealthspire Advisors, Dow Jones, Japan's Nikkei, Treasury, U.S ., Thomson Locations: Washington, New York, Atlanta, Asia, Pacific, Japan, U.S

Cisco Systems (CSCO.O) gained 2.2% in premarket trading after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. Traders' bets of a rate hike pause from the Fed in September slipped to 86.5% from about 89% a week earlier, according to CME Group's Fedwatch tool. Walmart results follow stronger-than-expected earnings from Target (TGT.N) and Home Depot (HD.N) earlier this week, marking an upbeat second quarter for major U.S. retailers. ET, Dow e-minis were up 37 points, or 0.11%, S&P 500 e-minis were up 16 points, or 0.36%, and Nasdaq 100 e-minis were up 72.5 points, or 0.49%. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Thomas Martin, Oppenheimer, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Nvidia, Rosenblatt Securities, Walmart, Target, CVS Health Corp, Dow e, Ball Corp, BAE Systems, Thomson Locations: New York, U.S ., U.S, Bengaluru

Cisco Systems (CSCO.O) gained 4.6% after the networking equipment maker's fourth-quarter results beat estimates, and its CEO talked up artificial intelligence opportunities. The S&P 500 health sector (.SPXHC), down 0.2%, was among the few major sectors in the red. Advancing issues outnumbered decliners by a 1.91-to-1 ratio on the NYSE and by a 1.16-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 12 new lows, while the Nasdaq recorded 11 new highs and 95 new lows. Reporting by Amruta Khandekar and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Dow, Thomas Martin, Amruta Khandekar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, U.S, U.S . Federal, Cisco Systems, Globalt Investments, Traders, Fed, Walmart, Target, CVS Health Corp, . Energy, Dow Jones, Ball Corp, BAE Systems, NYSE, Thomson Locations: New York, U.S ., U.S, Bengaluru

July 19 (Reuters) - Tesla (TSLA.O) CEO Elon Musk signalled on Wednesday that he would cut prices again on electric vehicles in "turbulent times", even as his all-out price war on automaker rivals squeezes the company's own margins. The large price cuts have pressured Tesla's automotive gross margin, a closely watched indicator in the industry, but Musk has said Tesla would sacrifice margin to drive volume growth. As an example, Tesla this year cut U.S. prices of its Model Y long-range version by a quarter to $50,490. In 2020, Musk unveiled a plan to produce Tesla's own EV batteries called "4680" cells. Tesla said production of the long-delayed electric pickup Cybertruck remained on track for initial deliveries this year.

Persons: Elon Musk, Musk, Tesla, Thomas Martin, Akash Sriram, Hyunjoo Jin, Abhirup Roy, Peter Henderson, Joe White, Sayantani Ghosh, Matthew Lewis, Sam Holmes Organizations: Globalt Investments, EV, Ford, General Motors, Reuters, Thomson Locations: United States, China, Texas, Bengaluru, Hyunjoo, San Francsico

Getting more cars on the road would help Tesla maintain its dominant U.S. market share in "turbulent times" and give it access to precious usage data needed to train the artificial intelligence models behind its self-driving technology. The billionaire believes full self-driving (FSD) could one day account for most of Tesla's value and give it a cushion rivals lack as they try to turn their EV operations profitable. "They're not an AI play the way Microsoft or Nvidia is an AI play," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments. "They're more of an AI play the way a regular business is an AI play, except that this race to full self-driving has always been an AI issue, and it's always been based on data. Wells Fargo analysts said FSD's adoption could be impeded by its price, which Musk said was low.

Persons: Elon, Musk, Tesla, Gene Munster, Lucy Nicholson, John Tomlinson, Thomas Martin, it's, Wells, Peter Henderson, Aditya Soni, Akash Sriram, Dhanya Ann Thoppil Organizations: Tesla, Deepwater Asset Management, REUTERS, Global, Research, Beta, Microsoft, Nvidia, Globalt Investments, Dojo, Thomson Locations: Los Angeles , California, U.S

☆ Wall St Week Ahead Investors brace for earnings from ‘Magnificent Seven’ US growth giants
▼ + stars: | 2023-07-14 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

[1/5] Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. In the S&P 500, the seven stocks comprise 27.9% of the index's weight. Investors will look beyond second quarter results, said Bill Callahan, an investment strategist at Schroders. The Elon Musk-led company this month said it delivered a record number of vehicles in the second quarter. The equal-weight S&P 500 (.SPXEW), a proxy for the average stock, is modestly beating the S&P 500 over the past month -- up 3.6% versus about 3% for its counterpart.

Persons: Joshua Roberts, BofA, Bill Callahan, “ It’s, ”, Tajinder Dhillon, Tesla, Elon, Thomas Martin, Martin, Yu Ma, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: Apple Inc, REUTERS, Apple, Microsoft, Nvidia, BofA, Research, Meta, Globalt Investments, Strong U.S, BMO Wealth Management, Thomson Locations: Washington , U.S, U.S, ”

SAN FRANCISCO, June 30 (Reuters) - Tesla (TSLA.O) is set to report record vehicle deliveries, after the top electric vehicle maker increased discounts and other incentives to boost sales in the face of economic uncertainty and rising competition. Tesla is expected as early as this weekend to report global deliveries of 445,000 vehicles in April to June, according to the average estimates of nine analysts by Refinitiv. Tesla CEO Elon Musk's plan to sharply increase sales this year faces challenges from aging and limited product line-ups as competition intensifies especially in China, and demand softens. It has avoided major price cuts in the past couple of months but has increased discounts, another form of sales incentive. Tesla is set to increase China sales by 13% from the previous quarter to a record number of vehicles, according to an analyst.

Persons: Tesla, Elon Musk's, Graphics Tesla, Thomas Martin, Goldman Sachs, Hyunjoo Jin, Akash Sriram, Joseph White, Zoey Zhang, Peter Henderson, Matthew Lewis Organizations: FRANCISCO, Refinitiv, Graphics, Reuters, Globalt Investments, Thomson Locations: China, United States, Supercharging, Europe, Berlin, San Francisco, Bengaluru, Detroit, Shanghai

June 28 (Reuters) - Apple's (AAPL.O) stock climbed to a record high close on Wednesday and was on the cusp of a $3 trillion market capitalization. The iPhone maker's stock rose 0.6% to end the day at $189.25, putting Apple's market value at $2.98 trillion, according to Refinitiv data. It was the second straight record high close for Apple's shares. Reuters GraphicsApple has yet to end a trading session with a stock market value above $3 trillion. Apple has jumped 46% in 2023, while Nvidia (NVDA.O) has surged 185%, making it the first chipmaker with a stock market value over $1 trillion.

Persons: Thomas Martin, Noel Randewich, David Gregorio Our Organizations: Reuters Graphics Apple, Federal Reserve, Globalt Investments, Apple, Nvidia, Microsoft, Thomson Locations: Apple's

June 28 (Reuters) - Apple's (AAPL.O) stock climbed to an intra-day record high on Wednesday, and was on the cusp of ending the session for the first time with a market capitalization above $3 trillion. With the stock last trading off that session high, up 0.4% at $188.81, the iPhone maker's stock market value stood at $2.97 trillion, according to Refinitiv data. Reuters GraphicsApple's stock market value briefly peaked above $3 trillion in intra-day trading on Jan. 3, 2022 before closing the session just below that mark. Apple has jumped 46% in 2023, while Nvidia (NVDA.O) has surged 185%, making it the first chipmaker with a stock market value over $1 trillion. The recent gains in Apple's shares have outpaced analysts' estimates for the company's future earnings.

Persons: Thomas Martin, Noel Randewich, David Gregorio Our Organizations: Reuters Graphics, Federal Reserve, Globalt Investments, Apple, Nvidia, Microsoft, Thomson Locations: Apple's

☆ Wall Street rallies, dollar softens after solid economic data
▼ + stars: | 2023-06-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - U.S. stocks moved sharply higher in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors' risk appetite. "The economic data today was particularly strong," said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. Emerging market stocks rose 0.58%. U.S. Treasury yields edged higher as solid economic data calmed recession jitters. Crude prices slid after U.S. economic indicators surprised to the upside, ahead of energy demand data expected later in the session.

Persons: Brendan McDermid, Thomas Martin, Martin, Jerome Powell's, Christine Lagarde, Lagarde, Brent, Stephen Culp, Elizabeth Howcroft, Chizu Nomiyama, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, GLOBALT Investments, Financial, European Central Bank, ECB, Dow Jones, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Atlanta, China, Asia, Pacific, Japan, London

☆ Meta Platforms' return to growth index highlights annual Russell refresh
▼ + stars: | 2023-06-21 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +6 min

REUTERS/Peter DaSilvaNEW YORK, June 21 (Reuters) - Meta Platforms (META.O) will return to its former status as a full growth stock after financial data provider FTSE Russell finishes its annual shakeup of its stock index components on Friday. Every year, FTSE Russell reconstitutes, or refreshes, the components across its indexes, such as the Russell 2000 (.RUT) index of small cap stocks and Russell 1000 (.RUI) index of large-cap names. There are also style indexes such as the Russell 1000 Growth (.RLG) and Russell 2000 Value (.RUJ). FTSE Russell says about $12.1 trillion is currently benchmarked to the Russell US equity indexes. "The growth indexes look more like growth benchmarks and the value indexes look more like cyclical value indices," said Steven DeSanctis, equity analyst at Jefferies in New York.

Persons: Peter DaSilva, Russell, FTSE Russell reconstitutes, RUI, Goldman Sachs, Stocks, Goldman, Bryant VanCronkhite, VanCronkhite, Catherine Yoshimoto, Steven DeSanctis, You've, Thomas Martin, Chuck Mikolajczak, Alden Bentley, Matthew Lewis Organizations: Facebook, Meta, REUTERS, Russell, FTSE, FTSE Russell, London Stock Exchange, Allspring Global Investments, Walmart, Jefferies, Nasdaq, New York Stock Exchange, Globalt Investments, Thomson Locations: Mountain View , California, U.S, Menomonee Falls , Wisconsin, New York, Atlanta

Musk revealed those plans on Tuesday at the company's annual meeting, an about-face for the celebrity executive who recently acquired social media platform Twitter. Musk told CNBC he did not yet have a "fully formed strategy" for Tesla advertising. Tesla spent $151,947 on advertising in the U.S. in 2022, according to advertising intelligence firm Vivvix, which measured ads across places including TV, social media, Web banners and billboards. Diaz-Ortiz is a former Twitter manager who has written books about the social media company. Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments, sees Musk's embrace of advertising as a positive.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. "You still have a reasonably strong economy and rates that are not going any higher." ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 33.75 points, or 0.82%, and Nasdaq 100 e-minis were up 116.25 points, or 0.88%. Shares of regional banks rose after a few volatile sessions last week on concerns about the health of the sector. Oil and gas producer Occidental Petroleum Corp (OXY.N) fell 0.9% after its first-quarter earnings fell short of analysts' estimates.

Researchers have also sought to quantify fairness and bias in AI models through various socio-ethnic parameters. For example, Stanford University's artificial intelligence index report scores for bias across AI models. It found a "counterintuitive" correlation between fairness and bias: models that scored better on fairness metrics demonstrated stronger gender bias, and less gender-biased models were more toxic. Driving AI technology advancements — being a "key player or enabler across the AI ecosystem to make businesses and society better." Some investors believe AI itself can help investors monitor and track ESG efforts by companies.

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