Here are five things you need to know this morning.
Last week’s sell-off took the S&P 500, Dow Jones Industrial Average and NASDAQ below their 50-day moving average. The TSX is trading below its 50, 100 and 200-day averages. Today has a risk-on flavour coming from an article in the WSJ that suggests the Federal Open Market Committee could be on pause for the rest of the year. The U.S. Federal Reserve’s meeting is next week and ahead of that, we will get inflation data on Wednesday and retail sales data on Thursday.
. The euro is modestly higher after eight weeks of declines against the greenback. The European Central Bank rate decision is Thursday.Shares of Tesla are rising after noted Morgan Stanley analyst Adam Jonas upgraded the stock after just 2.5 months on the sidelines. He’s also nearly doubled his price target to US$400 per share . And the call has nothing to do with cars. Tesla has a supercomputer called Dojo that can handle a boatload of data needed to train driving systems.
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