Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news and analysis.

Good afternoon, today is Monday, July 24th, and I'm your host, Kim Kahn.

Our top story in today's session, Vietnamese EV-Maker

Vinfast plans to break ground this week on the delayed factory in North Carolina.

Vinfast aims to be the first Vietnamese car brand to produce electric vehicles and the first to expand into global markets.

The auto arm of VIN group, which is Vietnam's biggest conglomerate, says it will begin construction on the EV plant on July 28th with a $1.2 billion

incentive package from North Carolina.

FinFas plans to list shares in the U.S. via Spackberger with Black Spade Acquisition, which is founded by Macau Casino legend

Lawrence Ho. Also in the E.V. sector, UBS downgraded Tesla to neutral from buy.

Analysts Patrick Hummel on team think the recent strong share performance fully reflects the strong

demand response for Tesla seen after the price cuts. The current share price is also seen as

pricing in solid execution for Tesla in 2024.

Hummel says UBS continues to see Tesla globally leading the race to affordable electric

and autonomous mobility, but on a one-year view, risk award looks balanced.

Gross margin trends are solid, but operating expenses and free cash flow are a concern.

UBS has a price target of $270. Now look at today's trading. Stocks are mixed with nothing

you could call conviction. The Dow and the SMP are up a bit and the NASDAQ is off slightly.

That's understandable with the Fed decision later this week and nearly 50% of the S&P reporting earnings.

Rates are off a bit. The 10-year yield is below 3.8%. The S&P Global Flash composite PMI for July came in lower than expected at 52.

Services was the weak spot while manufacturing improved.

Gold is flat, while W.T.I. Crude is is higher up above $78 per barrel.

Among stocks to watch, Domino's pizza fell sharply after missing revenue expectations.

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