TSLA Set To Report Earnings: What Does Sharp Drop Mean
Tesla Motors Inc (NASDAQ:TSLA) is dropping over 5% on the day. The company is set to report earnings after the market closes today. In 2013, the stock has soared almost 500%, hitting an all time high on Monday of $145.73. So why today is the stock dropping sharply before earnings? ...
This morning, many of the large financial stocks are declining from the highs at the start of the trading day. Leading financial giants such as Goldman Sachs Group Inc (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), and Citigroup Inc (NYSE:C) have given back the bulk of their gains from the opening bell. ...
As the stock market floats higher into the July 4th holiday, chart pattern setups start to take shape. Goldman Sachs Group Inc (NYSE:GS) is in the middle stages of forming a great bear flag under the 50 moving average as the 20 moving average slopes into price. This will likely setup as a great bear flag short later this week or early next week.
Financial Action: Worries From Europe And Contagion
One sector that will tell the tale of the market is the financial sector. This morning, all of the leading financial stocks are coming under early selling pressure. When the financial stocks decline it is very difficult for the major stock indexes to stage any kind of meaningful bounce. Today, the Financial Select Sector SPDR (ETF) (NYSEARCA:XLF) is trading lower by 0.09 cents to $13.41 a share.