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Tesla (TSLA) sank a further 2.58% after Goldman Sachs lowered its price target on the stock

Tesla (TSLA) sank a further 2.58% after Goldman Sachs lowered its price target on the stock| FXMAG.COM
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DAILY MARKET NEWSLETTER
December 15, 2022
 
 
   
 
 
 
Pre-Market Session
News Sentiment
Technical Views
 
 
 
   
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 1tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 1 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
 
 
   
 
 
 
Price MovementAnalyst ViewsTargetPivot
 
Dax (Eurex)14,399.00
-65.00 (-0.45%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 2tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 2
14,350.00
14,505.00
 
 
FTSE 100 (ICE Europe)0.00
0.00 (0.00%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 4tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 4
7,461.00
7,509.00
 
 
S&P 500 (CME)4,030.50
-0.25 (-0.01%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 6tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 6
4,070.00
3,997.00
 
 
Nasdaq 100 (CME)11,854.50
-14.50 (-0.12%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 8tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 8
12,060.00
11,730.00
 
 
Dow Jones (CME)34,258.00
+19.00 (+0.06%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 10tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 10
34,620.00
33,960.00
 
 
Crude Oil (WTI)76.63
-0.65 (-0.84%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 12tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 12
77.80
75.70
 
 
Gold1,795.33
-11.995 (-0.66%)
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 14tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 14
1,785.00
1,805.00
 
 
 
 
   
 
 
 MARKET WRAP 
 
 
 
 
Market Wrap: Stocks, Bonds, Commodities

On Wednesday, U.S. stocks posted an intraday reversal to the downside after investors digested Federal Reserve Chair Jerome Powell's hawkish post-rate-hike comments. The Dow Jones Industrial Average closed 142 points lower (-0.42%) to 33,966, the S&P 500 fell 24 points (-0.61%) to 3,995, and the Nasdaq 100 slid 93 points (-0.79%) to 11,740.

As widely expected, the Federal Reserve raised its key interest rates by 50 basis points to 4.25-4.50%. The Fed now projects the key rate to reach 5.10% by the end of 2023.

And Jerome Powell pointed out the central bank will not cut interest rates until its inflation target of 2% is reached.

The U.S. 10-year Treasury Yield dropped 2.9 basis points to 3.472%.

Automobiles (-2.14%), diversified financials (-1.56%), and semiconductors (-1.49%) sectors lost the most.

Tesla (TSLA) sank a further 2.58% after Goldman Sachs lowered its price target on the stock.

Marriott International (MAR) fell 2.32% as the hotel operator was downgraded to "neutral" at Citi.

On the other hand, Delta Air Lines (DAL) rose 2.79% as the airline gave a better-than-expected full-year guidance on adjusted earnings per share.

Pfizer (PFE) gained 2.66% on reports that the drugmaker has been allowed to import and distribute antiviral drug Paxlovid in China.

European stocks also closed lower. The DAX 40 fell 0.26%, the CAC 40 dropped 0.21%, and the FTSE 100 dipped 0.09%.

U.S. WTI crude futures added $2.00 to $77.38 a barrel. The U.S. Energy Department reported an addition of 10.23 million barrels in crude-oil stockpiles, in contrast to a reduction of 3.59 million barrels expected.

Gold price declined $3 to $1,807 an ounce.

Market Wrap: Forex

The U.S. dollar softened against other major currencies. The dollar index declined to 103.62.

EUR/USD rose 52 pips to 1.0685. Data showed that the Eurozone's industrial production declined 2.0% on month in October (vs -1.2% expected).

GBP/USD gained 64 pips to 1.2430. In the U.K., the inflation rate slowed to 10.7% on year in November (vs +11.0% expected).

USD/JPY dropped 16 pips to 135.43.

AUD/USD added 9 pips to 0.6864. This morning, Australia's data showed that the jobless rate remained stable at 3.4% in November with employment rising by 64,000 (vs +25,000 expected).

USD/CHF declined 44 pips to 0.9240, and USD/CAD was little changed at 1.3544.

Bitcoin once broke above $18,000 before retreating to $17,800 after the 50-basis-point rate hike was confirmed.

Morning Trading

In Asian trading hours, Japan's data showed that trade deficit narrowed to 2.03 trillion yen in November (vs 1.80 trillion yen expected) with exports increasing 20.0% on year (vs +24.0% expected).

USD/JPY was stable at 135.53.

Australia's data showed that the jobless rate remained stable at 3.4% in November with employment rising by 64,000 (vs +25,000 expected).

AUD/USD declined to 0.6839.

EUR/USD retreated to 1.0655, and GBP/USD traded lower to 1.2392.

Gold price lost again the handle of $1,800 an ounce.

Bitcoin declined further to $17,720.

Expected Today

In the U.K., the Bank of England is expected to raise its key interest rate by 50 basis points to 3.50%.

The European Central Bank is expected to increase its key interest rates by 50 basis points to 2.0-2.5%.

In the U.S., retail sales are expected to grow 0.2% on month in November. The latest number of initial jobless claims is expected at 235,000.

The New York State manufacturing index is expected to fall to 1.0 in December, while the Philadelphia Fed manufacturing index is expected to improve to -7.0 in December.
 
 
 
 
 UK MARKET NEWS 
 
 
 
 
AstraZeneca, a global biopharmaceutical company, said the U.S. Food and Drug Administration (FDA) will extend the Prescription Drug User Fee Act (PDUFA) date by three months to provide further time for a full review of the supplementary new drug application (sNDA) for Lynparza (olaparib) in combination with abiraterone and prednisone or prednisolone for the treatment of metastatic castration-resistant prostate cancer (mCRPC).

Auto & Parts, chemicals and insurance shares gained most in London on Tuesday.

From a relative strength vs FTSE 100 point of view, BAE Systems (+1.61% to 834.2p), Compass Group (+1.37% to 1925p), Croda International (+0.29% to 7016p) crossed above their 50-day moving average.
 
 
 
 
 ECONOMIC CALENDAR   
 
 
 
TimeEventForecastImportance
 
07:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 16tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 16
BoE Interest Rate Decision
3.5%
HIGH
 
 
07:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 17tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 17
MPC Meeting Minutes
 
MEDIUM
 
 
07:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 18tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 18
BoE MPC Vote Cut
0/9
MEDIUM
 
 
07:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 19tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 19
BoE MPC Vote Unchanged
0/9
MEDIUM
 
 
07:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 20tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 20
BoE MPC Vote Hike
9/9
MEDIUM
 
 
08:30
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 21tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 21
Retail Sales MoM (Nov)
0.2%
HIGH
 
 
08:30
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 22tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 22
Initial Jobless Claims (Dec/10)
235k
MEDIUM
 
 
08:30
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 23tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 23
NY Empire State Manufacturing Index (Dec)
1
MEDIUM
 
 
08:30
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 24tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 24
Retail Sales Ex Autos MoM (Nov)
0.5%
MEDIUM
 
 
08:30
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 25tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 25
Philadelphia Fed Manufacturing Index (Dec)
-7
MEDIUM
 
 
09:15
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 26tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 26
Industrial Production YoY (Nov)
2.7%
MEDIUM
 
 
09:15
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 27tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 27
Industrial Production MoM (Nov)
-0.2%
MEDIUM
 
 
10:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 28tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 28
Business Inventories MoM (Oct)
0.3%
MEDIUM
 
 
16:00
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 29tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 29
Net Long-term TIC Flows (Oct)
 
MEDIUM
 
 
19:01
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 30tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 30
GfK Consumer Confidence (Dec)
-43
HIGH
 
 
 
 
   
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 31
 
 
 
   
 
 
 NEWS SENTIMENT 
 
 
 
 
HSBC Holdings PLC
497.70 GBp
 
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 32tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 32
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 33tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 33tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 34tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 34
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 35tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 35tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 36tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 36
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 37tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 37tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 38tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 38
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Uniper SE
3.044 EUR
 
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 39tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 39
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 40tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 40tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 41tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 41
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 42tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 42tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 43tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 43
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 44tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 44tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 45tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 45
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
RWE AG
42.73 EUR
 
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 46tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 46
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 47tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 47tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 48tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 48
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 49tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 49tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 50tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 50
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 51tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 51tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 52tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 52
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Rio Tinto PLC
5,622.00 GBp
 
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 53tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 53
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 54tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 54tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 55tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 55
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 56tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 56tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 57tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 57
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 58tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 58tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 59tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 59
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deliveroo PLC
86.90 GBp
 
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 60tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 60
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 61tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 61tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 62tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 62
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 63tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 63tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 64tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 64
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 65tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 65tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 66tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 66
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Barclays PLC
160.26 GBp
 
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 67tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 67
 
 
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 68tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 68tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 69tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 69
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 70tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 70tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 71tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 71
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 72tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 72tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 73tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 73
 
 
 
 
 
 
 
 
 
 
 
 TECHNICAL VIEWS 
 
 

 
 
EUR/USD Intraday: the upside prevails.
 
Pivot:
1.0635
 
Our preference:
Long positions above 1.0635 with targets at 1.0700 & 1.0725 in extension.
 
Alternative scenario:
Below 1.0635 look for further downside with 1.0610 & 1.0585 as targets.
 
Comment:
The RSI lacks downward momentum.
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 74tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 74
 
 
 
 
 
 
 

 
 
Euro Stoxx 50 (Eurex)‎ (Z2)‎ Intraday: under pressure.
 
Pivot:
3984.00
 
Our preference:
Short positions below 3984.00 with targets at 3944.00 & 3921.00 in extension.
 
Alternative scenario:
Above 3984.00 look for further upside with 3995.00 & 4017.00 as targets.
 
Comment:
As long as the resistance at 3984.00 is not surpassed, the risk of the break below 3944.00 remains high.
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 75tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 75
 
 
 
 
 
 
 

 
 
Brent (ICE)‎ (G3)‎ Intraday: bullish bias above 81.20.
 
Pivot:
81.20
 
Our preference:
Long positions above 81.20 with targets at 83.60 & 85.20 in extension.
 
Alternative scenario:
Below 81.20 look for further downside with 80.10 & 78.60 as targets.
 
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
 
tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 76tesla tsla sank a further 2 58 after goldman sachs lowered its price target on the stock grafika numer 76
 
 
 
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