Investors roll the dice on prediction markets
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 24 July 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
Tesla’s net income fell by 45 per cent, investors think Donald Trump will be back in the White House, and the director of the US Secret Service resigned after an operational failure. Plus, the FT’s Jennifer Hughes talks about investors betting on politics in prediction markets.
Mentioned in this podcast:
Tesla misses profit estimates as electric vehicle deliveries slow
Prediction markets tipped for new growth as US trader interest mounts
US Secret Service head resigns over Donald Trump assassination attempt
Markets reassess ‘Trump trades’ after Joe Biden withdraws from race
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Jake Harper, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prakriti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | At Aquinore. UK. Good morning from the Financial Times. Today is Wednesday, July 24th. This is your |
| 0:17.4 | F.T. News briefing. Tesla seems to be running out of juice. |
| 0:22.5 | And we'll look at whether Donald Trump is good for the stock market. |
| 0:26.7 | Plus investors are stoked about betting on prediction markets. |
| 0:30.4 | Regulators? |
| 0:32.0 | Not so much. I'm Mark Filipino and here's the news you need to start your day. Tesla reported earnings yesterday and they fell short of Wall Street's profit |
| 0:57.5 | estimates. The world's largest electric carmaker saw its net income fall by |
| 1:01.7 | 45% last quarter, that's thanks to slower vehicle |
| 1:06.0 | deliveries and a lot of layoffs. |
| 1:09.4 | But Tesla did show some signs of life. Revenue jumped 2% in the second quarter because of its energy storage business. |
| 1:17.0 | The company's stock dropped more than 8% in after-hours trading. |
| 1:21.1 | Tesla's share price is also down 8% over the past year. |
| 1:32.1 | This week's US News Cycle has mostly been about Democrats, but a lot of investors still |
| 1:36.8 | think Republican nominee Donald Trump and his vice presidential pick JD Vance |
| 1:41.2 | are going to win the race for the White House. |
| 1:43.4 | And if that happens, there's the question over whether investors, especially |
| 1:47.4 | tech investors, can make money off Trump's presidency and how. |
| 1:52.0 | My colleagues Rob Armstrong and Katie Martin |
| 1:53.9 | chatted about Trump, Tech, and the markets in the latest episode of |
| 1:57.0 | the FT's Unhedged Podcast. We're going to play a little of that for you now. |
... |
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