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Pre-market breaks a 5-week winning streak - Tesla shares reduces 2% in the pre-market - Dow features of 100 points
In the United States, stock futures were slightly higher in the early morning trading on Monday. Which has made investors prepared to start the week coming from the S&P 500 breaking off a 5-week winning streak.
S&P gained 500 futures and NASDAQ 100 futures...as both were up about 0.3% and 0.4% respectively. Likewise, Dow had gained a total of 100 points.
Tesla shares reduced 2% in the pre-market on Monday, after a weekend Twitter chat between founder Elon Musk and senator Bernie Sanders.
However, the Vermont independent who caucuses with Democrats wrote that
"We must demand that the extremely wealthy pay their fair share. Period"
Of course, Musk wrote a follow-up tweet which read;
"I keep forgetting that you're still alive. You want me to sell my stocks. Bernie? Just say the word…"
Dow's company Exxon Mobil experiences an under pressure, with its shares falling nearly 1% in pre-market.
Likewise west Texas intermediate, oil futures slipped more than 1% to go beneath $80 a barrel.
In addition to the pre-market stock trading, the market has digested the range of economic crises that arose last week. Which showed that inflation we're rising more swiftly than expected.
Also, workers are continuing to quit their jobs and find pleasure in better opportunities.
John Stoltzfus, chief investment strategies, at Oppenheimer asset Management, wrote in a note on Monday that he expects inflation to be dampened.
He also referred that data
"added to concerns that inflation at a 30-year high could indeed remain a sticker problem and challenge for businesses, consumers, and monetary policymakers, to contend. Over the next four to six months or even longer" he continued.
"Positive offset to the current harm of inflation hitting the US economy and this time. Are likely to emerge as the effects of what may have been over stimulation of the economy of the weight of the pandemic fade" he said.
