6:53 AM · 30 January 2020

BREAKING: Markets down despite Tesla euphoria

We are in the midst of the earnings season in the US and at least judging from market reactions it looks positive so far: Apple, Microsoft and Tesla rallied after reports and only Facebook disappointed. Tesla (TSLA.US) rallied 12% after hours (!) despite posting lower earnings figure compared to the third quarter and last quarter of 2018. Investors welcomed the news that the manufacturer will produce at least 500k cars this year. However, this failed to translate into global sentiment where indices decline, especially in Asia. As the virus spreads, there are reports of more stoppages in China and investors become concerned over the economic impact.

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