SPX continues to get pushed higher as Tesla gains

📈 SPX | 4,566 (+22, +0.5%)
📈 DJIA | 35,741 (+64, +0.2%)
📈 CCMP | 15,227 (+137, +0.9%)

🎉 Tesla (+12.7%) took a step into the $1 trillion club yesterday, rising by $115 to reach a price of $1,024.86 by market close. The move was sparked by Hertz ordering 100’000 cars from Tesla, aiming to ‘electrify’ its rental-car fleet.

🦅 Facebook (+1.3%) rose after-hours yesterday as user growth in Facebook, Instagram, and WhatsApp increased by more than expected. While Facebook has been missing revenue estimates, investors had likely already priced in that eventuality given how Apple’s ad restrictions have been weighing on digital ad stocks.

🚨 US 5-year breakevens exceeded 3% for the first time ever – signalling the market’s average inflation expectations over the next five years. Fed Chair Jerome Powell has been steadily acknowledging rising inflation risks, although the likelihood of more aggressive Fed action in the near-term remains slim.