🚙 Tesla rises despite a fall

and the hot labor market

Good morning investors! The market continues to surprise in a positive manner but let’s prepare for a break tomorrow as there will be no issue due to Independence Day.

Today we cover:

  • The hot job market

  • Tesla’s rises despite a fall in sales

  • Making money online

📊 Economy and News 

The job market is still hot

The number of available jobs in the US unexpectedly grew in May, signaling continued resilience in the nation’s labor market.

Job openings jumped higher to 8.14 million in May from a downwardly revised 7.91 million in April, according to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report released Tuesday.

Economists had expected openings would fall to 7.91 million.

Despite the uptick in job postings, which can be quite volatile, May’s JOLTS report marked a significant milestone for the US labor market: The ratio of job openings to those who are unemployed fell to 1.22 available jobs per job seeker, matching the figure seen in February 2020, a month prior to the pandemic lockdowns that shocked the global economy.

That ratio has been steadily moving lower since hitting a record 2.0 in March 2022, JOLTS data shows.

Where are the changes: The sectors experiencing the most significant increase in job openings included manufacturing, particularly in durable goods, and government at federal, state, and local levels. Conversely, real estate and leisure and hospitality saw the largest declines from April, according to data from the Bureau of Labor Statistics (BLS).

What’s coming: Economists generally predict a slowdown in job gains for June. As of Tuesday, FactSet consensus estimates forecast a net gain of 189,000 jobs.

First-time claims for unemployment benefits, often viewed as an indicator of layoffs, have increased in recent weeks, aligning with pre-pandemic averages.

The Bureau of Labor Statistics will release the latest jobs report at 8:30 a.m. ET on Friday.

Global hits:

Inflation and rates: Fed Chair Jerome Powell expressed satisfaction with the progress on inflation but said he wants to see more before being confident enough to start cutting interest rates.

“We want to be more confident that inflation is moving sustainably down toward 2% before we start the process of reducing or loosening policy,” he said.

While Powell said he sees progress on inflation, he’s wary of moving too soon and threatening the downward path of price increases.

These comments helped the S&P 500 close above 5,500 for the first time.

Also check: Greece becomes first EU country to introduce a six-day working week.

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Don’t forget to check our LinkedIn for more on this story and have a say on it.

📈 Stocks

S&P 500 5,509.01 (+0.62%)
DJIA 39,331.85 (+0.41%)
NASDAQ 18,028.76 (+0.84%)
BRENT CRUDE 86.60 (+0.33%)
* Prices as of Jul 3rd, 12:20 AM UTC

Tesla surges despite a fall in sales

Tesla is down -6.91% YTD. The electric vehicle (EV) manufacturer has struggled to keep pace with its big-tech counterparts, who have consistently reached new highs.

Recent developments, however, indicate a potential shift in Tesla's fortunes.

The company's second-quarter production and delivery figures surpassed expectations. Tesla reported production of 410,831 vehicles and deliveries of 443,956, marking a 4.80% year-over-year decrease in deliveries.

Analysts had predicted 439,000 deliveries, so the actual figures exceeded these projections. This surplus in deliveries relative to production helped alleviate concerns about unsustainable inventory accumulation.

Despite this positive news, some analysts continue to express caution. They point to ongoing challenges such as sluggish demand and fierce competition, which are exerting pressure on Tesla's pricing and margins. Nevertheless, the upbeat production and delivery report has bolstered investor confidence, propelling the stock to a 10% increase today.

From a technical perspective, Tesla's stock is currently testing a significant resistance level at $250.

This resistance has constrained price growth for several years. Market observers are keenly watching to see whether sellers will maintain this barrier or if buyers will manage to break through.

💵 Personal Finance

Make Money Online – Part VIII

Here’s the next part and make sure to look at the previous issues for more tips:

Create an Online Course to Make Money As a Consultant

Consider joining a platform like Udemy to create and upload courses that can be bought by learners.

Udemy does not charge a fee to be a premium instructor and there are no transactional charges. The platform, however, does charge a commission in the range of 3 to 5 percent. In addition to learning platforms, you can also offer your services through your own site. Moreover, you can also choose to be a consultant and provide advice on career, relationship, law, etc.

You can make a lot of money working for Udemy based on the number of enrollments. The platform pays about $10 per enrollment. The more students you get, the more money you can make.

Other than this, you can offer online consultations and make money by charging a fixed hourly rate for your services.

You must have a college degree and relevant experience to be successful as an online teacher or consultant. No one’s going to hire you if they do not see you as a legitimate source of information.

Udemy does not require instructors to offer live lectures. Your job will be to create lectures in the form of written material and videos. This can take up to 40 hours depending on your speed and other such factors. However, some platforms require instructors to offer live sessions and pay an hourly rate – between $15 to $25 per hour.

💰 Be a Better Investor

“A simple fact that is hard to learn is that the time to save money is when you have some.”

Joe Moore

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👩🏽‍⚖️ Legal Stuff
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