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    TSLA   US88160R1014


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Tesla : Stocks fall as tech shares weigh; gold climbs amid inflation concerns

05/17/2021 | 12:51pm EDT

* U.S. stocks lower in midday New York trading

* Gold climbs, dollar near flat

* All eyes on Federal Reserve later in the week

NEW YORK, May 17 (Reuters) - Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while U.S. Treasury yields traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York state.

Concerns over inflationary pressure helped to lift gold prices to their highest in more than three months, however.

The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.

Wall Street's declines follow the S&P 500's biggest one-day jump in more than a month on Friday.

While the week is expected to be relatively quiet for economic data, investors will be anxious to see minutes on Wednesday from the Federal Reserve's policy meeting last month which could shed more light on the policymakers' outlook of an economic rebound.

"The volatility has picked up because a lot of the good news has been priced in, and last week we finally saw fears of inflation," said Greg Marcus, managing director, UBS Private Wealth Management.

The spread of the coronavirus was also a drag in some markets, with Singapore reporting the highest number of local infections in months and Taiwan seeing a spike in cases.

The Dow Jones Industrial Average fell 120.02 points, or 0.35%, to 34,262.11, the S&P 500 lost 20.43 points, or 0.49%, to 4,153.42 and the Nasdaq Composite dropped 121.39 points, or 0.9%, to 13,308.58.

The pan-European STOXX 600 index lost 0.05% and MSCI's gauge of stocks across the globe shed 0.26%.

In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was up 1 basis point at 1.645%, below a spike to 1.77% in late March.

The dollar was steady near recent lows as new restrictions in Asia to contain COVID-19 supported safe-haven currencies, while bitcoin extended its slide.

The dollar index fell 0.116%, with the euro up 0.12% at $1.2154.

Bitcoin dropped to a three-month low after Tesla Inc boss Elon Musk suggested over the weekend that the electric automaker may have already sold some of its holdings in the digital currency.

Oil prices edged higher. Brent crude rose 56 cents, or 0.8%, to $69.27 a barrel by 11:22 a.m. ET (1522 GMT,) and West Texas Intermediate (WTI) crude was up 63 cents, or 1%, at $66.

Spot gold added 1.3% to $1,866.13 an ounce.

(Additional reporting by Simon Jessop in London, and Medha Singh and Sruthi Shankar in Bengaluru; and Herbert Lash and Stephen Culp in New York; editing by Kirsten Donovan, Nick Macfie and Ed Osmond)

© Reuters 2021
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Financials (USD)
Sales 2021 49 399 M - -
Net income 2021 3 422 M - -
Net cash 2021 8 942 M - -
P/E ratio 2021 195x
Yield 2021 -
Capitalization 588 B 588 B -
EV / Sales 2021 11,7x
EV / Sales 2022 8,59x
Nbr of Employees 70 757
Free-Float 80,4%
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Technical analysis trends TESLA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 35
Average target price 663,03 $
Last Close Price 609,89 $
Spread / Highest target 96,8%
Spread / Average Target 8,71%
Spread / Lowest Target -75,4%
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Managers and Directors
Elon Reeve Musk Technoking of Tesla
Zachary J. Kirkhorn Master of Coin
Robyn M. Denholm Chairman
Ira M. Ehrenpreis Independent Director
Antonio J. Gracias Independent Director
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