⚠️BREAKING: *NASDAQ, S&P 500 FUTURES FALL AFTER Q2 REPORTS BY TESLA, NETFLIX $TSLA $NFLX $DIA $SPY $QQQ $IWM $VIX
Tesla CEO Elon Musk signaled on Wednesday that he would cut prices again on electric vehicles in"turbulent times," even as his all-out price war squeezes the company's own margins.
Shares of the electric car maker slid 3.5% in premarket trading after Musk's comments, even as Tesla beat quarterly profit estimates. "Amid the macroeconomic backdrop of sluggish global growth and a softening consumer, Tesla has been cutting prices several times to try to preserve demand," said Victoria Scholar, head of investment at Interactive Investor.The tech-heavy Nasdaq has advanced 37.2% so far this year, supported by a scorching rally in megacap growth and technology stocks on optimism over artificial intelligence, a resilient U.S.
Netflix fell 7.0% after the streaming video pioneer disappointed Wall Street with second-quarter revenue that fell short of analyst estimates.
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