Reply To: Market Wrap – Mega Caps Tesla, Amazon and Apple Take Charge June 6, 2022


Key factors driving the futures market:

US jobs Report
Elon Musk says he has a “super bad feeling” about the economy and that Tesla (TSLA) needs to cut about 10% of staff; TSLA down 4.5%
Germany posts weaker-than-expected retail sales for April and South Korea posts higher-than-expected CPI for May
Apple (AAPL) down 2.4% on report that European Commission has proposed plan to mandate a universal charging adapter for smartphones
Nervousness ahead of May Employment Situation Report (8:30 a.m. ET)
CNN reports that some Shanghai neighborhoods have returned to lockdown because of COVID cases
White House said to be considering some Chinese tariff relief
Travelers (TRV) down 1.7% after Goldman Sachs downgrades Dow component to Sell from Neutral on margin concerns
RH, Inc. (RH) beats on earnings, but says it saw softening in demand and warned for Q2 and FY23 revenues; RH down 3.7%
Okta (OKTA) jumps 15.8% on better-than-expected earnings and guidance
acturing Index (10:00 a.m. ET)