Hey everybody, Rob Mauer here, and today we are talking about a couple of news items

for Tesla, but primarily what we're going to be focusing on are some major updates from

Volkswagen, has to do with their software and electrical programs, Volkswagen's new

leadership, post-pervert lease, taking things in a different direction.

Taking a quick look at Tesla stock, it finished down 2% on the day to day to close at $183.17

while the NASDAQ was down just up there to 4%, so another small underperformance from Tesla.

The last couple of days we have seen the volume dry up a little bit, only 64 million shares

traded today, only about 67 million yesterday, and that's after about a week and a half,

two weeks or so, a volume exceeding every day, 90 million shares.

Probably the biggest macro news for the market today would be new comments from the

St. Louis Fed president James Bullard, who is a voting member of the FOMC.

He commented that the federal funds rate is not yet in a zone that may be considered sufficiently

restricted and suggested that that zone ultimately could be in the 5-7% range.

The top of that range would certainly be higher than the summary of economic projections,

has suggested so far. Of course, those have continued to increase over time, but with the CPI and

PPI reports starting to show signs of cooling off a little bit, hopefully that can reverse that trend as well.

So we'll see, and of course this is only one committee member and other committee members

in recent days have made somewhat opposing statements.

For example, Esther George, also a voting member, noted yesterday that,

quote, I have not in my 40 years with the Fed seen the time of this kind of tightening

that you didn't get some painful outcomes, end quote.

So a statement they are showing some concern about what even further restrictive policies could mean.

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