Posted 1/8/2024, 12:45:00 PM
2024 Trading Takes Off as Key Economic Data Arrives, Tesla Soars While Short Sellers Lose Big
- This week marks the real start of 2024 trading, with more volume expected compared to last week and key economic data like December CPI and bank earnings reports coming out
- The strong December jobs report showed the best US labor market performance since the 1950s, with higher productivity signaling the economy is moving beyond the pandemic
- Falling energy and car prices likely put downward pressure on inflation in the upcoming CPI report, but the cost of housing will be key to watch
- Banks' earnings reports on Friday will give insight into how fixed income and equity trading is impacting profits compared to challenges in areas like retail lending
- Tesla stock skyrocketed in 2023 despite Elon Musk’s controversial year, leading short sellers who bet against the automaker to lose over $12 billion