Energy’s Next Phase, Cybertruck Wrap, Union Efforts, PCE, Calendar (12.22.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 23 December 2023
⏱️ 12 minutes
🧾️ Download transcript
Summary
➤ Tesla’s Megafactory project in Shanghai moves forward
➤ PCE report increases rate cut expectations
➤ More Cybertrucks at Giga Texas
➤ First aftermarket wrap for Cybertruck
➤ Tesla adds software feature in China
➤ Another over-the-air recall
➤ Updates on Swedish union efforts
➤ Cummins to pay $1.7B in emissions penalty agreement
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Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Maower here. |
| 0:07.0 | Rob Maower here. |
| 0:09.0 | Happy Friday. |
| 0:10.0 | We've got some updates on the cyber truck of course. |
| 0:12.6 | We have exciting news on Tesla Energy. |
| 0:14.8 | We've got a couple pieces of news on the Sweden |
| 0:18.0 | Swedenization efforts. |
| 0:19.7 | The unionization efforts in Sweden, |
| 0:21.7 | Roughstar today and a couple other items as well. |
| 0:24.8 | All right, looking at the stock, Tesla today down about three quarters of a percent to close |
| 0:28.2 | at $252.54 cents. |
| 0:30.8 | The Nasdak today up two tenths of a percent, so underperformance for Tesla to close out the week. |
| 0:34.8 | From a macro perspective, we did have the PCE personal consumption expenditures report released this morning. |
| 0:40.0 | Slightly below expectations, so month over month core PCE increased one tenth of a percent, |
| 0:44.8 | year over year up 3.2 percent, so year over year that was one tenth of a percent lower than |
| 0:49.6 | expectations. The headline numbers largely in line with expectations. |
| 0:54.0 | PCE actually did decline one-tenth of a percent, month over a month from a headline perspective, |
| 0:59.0 | so including food and energy, and up 2.6 percent. One number for PCE that a lot of people have looked at today too is the six month |
| 1:07.5 | annualized rate which has now fallen below 2% since the first time, for the first time since 2020. |
| 1:13.6 | So a lot of people excited about that, of course, 2% |
| 1:17.0 | being the benchmark target for the FOMC. |
| 1:20.3 | In terms of FOMC and interest rate rate expectations with the PC report this morning and of course some other economic reports |
... |
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