STOCKS FALL, TESLA TANKS: Here's What You Need To Know


The S&P 500 win 8-day winning streak ended today.

First, the scoreboard:

  • Dow: 15,446.2, -37.9, -0.2%
  • S&P 500: 1,676.1, -6.3, -0.3%
  • NASDAQ: 3,598.4, -9.0, -0.2%

And now, the top stories:

  • U.S. industrial production grew 0.3% in June, which was right in line with expectations. Capacity utilization ticked up to 77.8% from 77.6% a month ago.
  • The NAHB Homebuilder confidence index unexpectedly surged to 57, the highest level since January 2006.  Economists expected the number to fall to 51. “Today’s report is particularly encouraging in that it shows improvement in builder confidence across every region as well as solid gains in current sales conditions, traffic of prospective buyers and sales expectations for the next six months,” said the NAHB’s Rick Judson.
  • Shares of Tesla fell 14% on no obvious news. However, Goldman Sachs’ Patrick Archambault published a massive report on the U.S. auto industry, which included his Tesla price target of $84 per share.

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