This is something new from Uniic Media in which we will provide some of the most important market-moving economic news and also some of the key earnings call going on throughout the week. Remember, this is not financial advice, just news, so make your plays after doing your own due diligence…

Impactful News

Medium Impact News

• Tomorrow morning, the United States Census Bureau will be announcing the durable goods report for the month of May. Some sectors could experience slight volatility during this time as figures are expected to be down from the month previously at +0.1% vs. +0.4% month to month. However, economists are saying that orders for new manufactured durable goods have increased 0.2% month to month to $265.8 Billion.

High Impact News

• Jerome Powell is set to speak on Wednesday and nothing really has been coming out of his mouth which is good for the economy (as of late at least). He is set to speak at the ECB Forum on Central Banking’s “Policy Panel.” We may get some key economic updates following his testimony in front of Congress last week.

• Core PCE Price Index will be released for May on Thursday and it’ll be a big one as it is the Fed’s go-to inflation gauge. Personal Income figures are set to increase by 0.5% and spending is set to have figures inflated by 0.2%. In April, these numbers were lower by 0.4% and 0.9%, respectively. The Core PCE Index is expected to jump 4.9% which would mirror the April data.

Key Earnings/News

Bristol Myers Squibb ($BMY)

• The FDA is currently conducting an extended review of Bristol Myers Squibb’s Reblozyl (luspatercept-aamt) which has caused option trading volume to elevate in very mixed anticipation.

  The FDA has provided additional timing to review the biologics license application for the treatment which is used in adults suffering from anemia with non-transdusion-dependent beta thalassemia.

Tesla ($TSLA)

• Price volatility has done nothing but gives investors anxiety. Now, more than ever as the Q2 deliveries report is set to be released on Friday. China’s implementation of Covid lockdowns has made it difficult to produce vehicles at full scale in Q2. With that, delivery predictions are around 280,000 vs. 320,000 in Q1.

  Elon Musk has mentioned, "there's a ton of expense and hardly any output." Billions of losses from the supply chain issues in Berlin and Austin give insight into the fate of the Q2 delivery report.

  Tesla has also had some price cuts by wall street analysts due to the increase in weighted average cost of capital, which is the cost companies pay to finance their business. This has NOTHING to do with how many cars they’re selling or not.