Just this week, Tesla boasted as anxieties swirled over tariffs on automobiles. “Btw, Teslas are the most American-made cars,” the official Tesla account posted on X on Sunday. That’s true, at least according to one measure. The company has dominated Car.com’s American-Made Index since 2021, based on criteria including assembly location, where the parts are made, engine origin, transmission origin and US manufacturing workforce. “Tesla’s manufacturing, both as location of final assembly and the componentry of the vehicles, is all as high (a score on the index) as you could possibly get for a US-made vehicle,” Patrick Masterson, lead researcher for the Cars.com index, told CNN. Tesla’s American-produced cars could partially protect the company from the new auto tariffs, which industry experts say will raise car prices for consumers by the thousands. The 25% tariffs, which were announced Wednesday, will affect all imported cars and car parts beginning April 3. Analysts maintain that the EV maker will be largely shielded, unlike other American automakers like General Motors, which has factories in Mexico. But car manufacturing “is a complicated process, and no one’s going to be immune from these tariffs,” Masterson said.Even US-made cars depend on parts from Mexico and Canada, thanks to free trade agreements. Although Tesla produces 100% of its vehicles in the United States at its Texas and California factories, there is truly no 100% “American-made” car — as Musk himself contended Wednesday after the tariffs announcement. “Important to note that Tesla is NOT unscathed here,” Musk posted on X. “The tariff impact on Tesla is still significant.”

As ‘American-made’ as you can get

Tesla hasn’t publicly said how much its cars depend on international parts. An October 2024 document from the National Highway Traffic Safety Administration shows that 20% to 25% of components for all Tesla cars were imported, though it did not specify from which countries. Between 60% to 75% of components were made in the US or Canada, according to the document. Cars.com didn’t have data on where specific components are made, but Masterson said Tesla’s “final assembly, engine country of origin, the battery country of origin” are all based in the United States. And for now at least, car parts made in the US or Canada are grouped together, as part of the American Automobile Labeling Act, even though Trump’s tariffs target Canada as well. “Tesla in particular is known to source a greater proportion of components installed on its US-built vehicles in comparison to other automakers (both foreign and domestic) producing vehicles in the U.S.,” analysts at JP Morgan said in a note, which pointed out that Tesla and fellow EV maker Rivian would be the least impacted among carmakers. However, Wolfe Research predicted Thursday a potential annual headwind of $1.6 billion for Tesla, primarily because of the car components made in Mexico.

A small win for Tesla in EV race

The tariffs give Tesla a boost in the electric vehicle competition, especially among its unionized American rivals — Ford, General Motors and Stellantis. “In the electric vehicle segment, tariffs are a boon to fiercely anti-union Tesla, which will benefit from the disarray of competitors (including the Big Three) who need time to rethink production strategies and retool factories. Any new automotive jobs will be overwhelmingly nonunion,” Cornell University’s School of Industrial and Labor Relations research professor Ian Greer said over email. In another sign of a potential turnaround, Tesla’s flailing stock is staging somewhat of a comeback, closing higher Wednesday for the sixth straight day, though it dipped again by the end of the week. Meanwhile, shares of Stellantis, Ford and General Motors all fell in after-hours trading after the tariffs announcement Wednesday. While Tesla may experience a bump in the United States, its CEO, Elon Musk, still faces sharp scrutiny for his outsized role in the federal government as head of the Department of Government Efficiency. Sales have fallen sharply in Europe and China due to an influx of competition, and even the used Tesla market is floundering.

US stocks tanked on Friday as Wall Street grappled with President Trump’s escalating trade war and weighed signs of reinvigorated inflation pressures amid souring consumer sentiment. The Dow Jones Industrial Average (^DJI) dropped more than 700 points or nearly 1.7%, while the benchmark S&P 500 (^GSPC) fell almost 2%. The Nasdaq Composite (^IXIC) dropped 2.7% as tech stocks led the declines. The major averages fell on Friday after the release of a hotter-than-expected Personal Consumption Expenditures index reading, which includes the Federal Reserve’s preferred inflation gauge of “core” PCE. The reading showed prices increased more than expected last month, rising 0.4% month over month and 2.8% year over year, continuing a stubborn plateau on the path to the Fed’s 2% target. Meanwhile, US consumer sentiment in March plummeted to its lowest level since November 2022. The latest reading from the University of Michigan came in at 57, down from a 64.7 reading in the prior month, as consumers fretted about inflation and the broader economy, perhaps most notably in the labor market. On Friday President Trump said he had a “very good talk” with Canadian Prime Minister Mark Carney, his first conversation with him since Carney was elected earlier this month. When asked about tariffs however, the president said he will “absolutely” follow through with levies against the country. Stocks have had a roller coaster week, starting off on a high on hopes that Trump would temper his tariff plans and then abruptly diving beginning on Wednesday upon news of new duties on auto imports. Markets continued to slide Thursday as Wall Street digested Trump’s 25% levies on foreign cars along with more hawkish comments on what lies ahead in the trade war. April 2, the date when broad reciprocal tariffs are set to take effect, is looming large. Fed officials have projected higher inflation and slower economic growth amid new tariffs, though Fed Chair Jerome Powell has reassured Wall Street that rising prices will likely be “transitory.” But Powell’s words are fading into the background as Trump’s trade war escalates and more Fed officials say they aren’t exactly sure where the economy goes next, with one policymaker describing the situation as “zero visibility” in a “dense fog.” The Federal Reserve Bank of Atlanta’s GDPNow index now forecasts that US gross domestic product (GDP) will fall 2.8% in the first quarter, compared to a previous projection of a 1.8% decline released two days ago.

CoreWeave on Thursday said it priced shares at $40 in the company’s IPO, raising $1.5 billion in the biggest U.S. tech offering since 2021. The company, which provides access to Nvidia graphics processing units for artificial intelligence training and workloads, had planned to sell shares for between $47 and $55 each. At the top end of the range, that would’ve valued CoreWeave at about $26.5 billion, based on Class A and Class B shares outstanding. The offering is down from 49 million shares to 37.5 million, CoreWeave said in a statement. Bloomberg was first to report on the $40 price. At that level, CoreWeave’s valuation will be closer to $19 billion, though the market cap will be higher on a fully diluted basis. Earlier on Thursday, CNBC reported that Nvidia, one of CoreWeave’s largest shareholders, was targeting a $250 million order at $40 per share. CoreWeave’s shares are set to start trading on the Nasdaq on Friday under the ticker symbol “CRWV.” The IPO is a major test for tech startups and the venture capital market after an extended lull in new offerings dating back to the beginning of 2022, when soaring inflation and rising interest rates pushed investors out of risky assets. Other tech-related companies that have filed to go public in recent weeks include digital health startup Hinge Health, online lender Klarna and ticketing marketplace StubHub. Bloomberg reported on Wednesday that chat app maker Discord is working on an IPO. The last venture-backed tech company that raised at least $1 billion for a U.S. IPO was Freshworks in 2021. Last year Reddit and Rubrik each raised about $750 million in their offerings. After Donald Trump’s election victory in November, Goldman Sachs CEO David Solomon said he expected renewed IPO activity, but President Trump’s imposition of tariffs in recent weeks added uncertainty to economic forecasts and led to increased volatility to tech stocks. CoreWeave counts Microsoft as its biggest customer by far. Other clients include Meta, IBM and Cohere. Revenue soared more than 700% last year to almost $2 billion, but the company recorded a net loss of $863 million. CoreWeave’s model is capital intensive, requiring hefty purchases of equipment and expenditures on real estate. A week after filing to go public, CoreWeave announced a contract with OpenAI worth up to $11.9 billion over five years. OpenAI agreed to buy $350 million in CoreWeave stock as part of the deal. CoreWeave is trying to compete with some of the biggest tech companies in the world, including Amazon, Microsoft and Google, the three leading providers of public cloud infrastructure in the U.S.

After GameStop closed about a quarter of its locations within the past year, shuttering 1,000 stores across the world, the company said it’s not close to done. And as the struggling company closes stores, it will invest cash in cryptocurrencies. GameStop revealed in a regulatory filing Tuesday that it expects to close a “significant number” of additional locations in the coming months, although the “specific set of stores has not been identified for closure.” A majority of the closures occurred in its biggest market, the United States, with 590 locations shutting down and reducing its store count to 2,325 as of February 1. More than 330 locations closed across Europe, plus nearly 50 stores in Canada and Australia. Globally, 3,203 GameStops remain — down drastically from its peak of about 6,000 a decade ago. GameStop has closed hundreds of stores over the past several years because it has struggled to adapt to customers’ changing habits of buying games online and streaming. The company was also center of the “meme stock” craze in 2021, which briefly boosted its stock. GameStop joins a number of other well-known retailers closing stores or completely disappearing, including Joann, Forever 21, Kohl’s and Macy’s. Among the reasons contributing to the retail exodus is continuing inflationary pressure on consumers’ wallets, pressure from private equity and retailers not quickly adapting to changing shopping habits. As part of GameStop’s pivot away from retail, the company also said that it’s getting into bitcoin as a treasury reserve asset, announcing that a “portion of our cash or future debt and equity issuances” might be invested in the digital currency. “The pivot to bitcoin is really a defense against irrelevance,” Neil Saunders, an analyst at GlobalData Retail told CNN, adding that it’s “an odd thing as it’s basically saying the strategy isn’t retail but to act as some kind of cryptocurrency investment vehicle.” Nevertheless, the crypto announcement helped juice the stock: GameStop (GME) shares soared 16% in premarket trading Wednesday.

US stocks closed lower Wednesday as President Trump prepared to unveil new tariffs on US auto imports. The benchmark S&P 500 (^GSPC) was down more than 1.1%, while the Dow Jones Industrial Average (^DJI) fell about 0.4%. The tech-heavy Nasdaq Composite (^IXIC) led the losses, sliding over 2%. Tech leaders Nvidia (NVDA) and Tesla (TSLA) both closed down more than 5%. Stocks are on shifting sands as markets respond to changes in tone from Trump on coming tariffs. The White House press secretary said Wednesday that Trump would hold a press conference at 4 p.m. ET to announce new tariffs on auto imports, hitting Tesla and other auto stocks like GM (GM) and Ford (F). Meanwhile, Wall Street is focused on how “flexible” Trump will be in the reciprocal duties set to take effect on April 2. In another tone shift, Trump told Newsmax on Tuesday that he “doesn’t want to have too many exceptions” to the levies — a potential swing back to the hard line seen earlier in March. Those threats directed at the EU and Canada fueled a sell-off that pushed the S&P 500 into correction territory. Also, the White House appears to be accelerating its plans for copper levies. Tariffs on copper imports could be coming within several weeks, months ahead of a deadline for implementing the measures, Bloomberg reported. Copper (HG=F) prices surged to a record on the heels of the news. In corporates, GameStop (GME) stock jumped over 11% after the video game retailer’s approval of a plan to buy bitcoin (BTC-USD) with its cash holdings. In other economic news, orders for durable goods came in stronger than expected in February, data released Wednesday showed. The 0.9% rise topped expectations for a drop of 1% but undershot January’s 3.3% reading.

As bitcoin’s (BTC) recovery rally continues, $90,000 is now the key level where things could get interesting. The projection is based mainly on the current positioning of options market makers. Market makers, also known as dealers or MMs, are responsible for providing liquidity to the order book. They occupy the opposite side of investors’ trades and work to maintain a market-neutral exposure by hedging in spot and futures markets. They make money off the difference between what they pay for an asset and how much they sell it for, known as the bid-ask spread. Deribit bitcoin options data tracked by Amberdata shows market makers are “short gamma” at the $90,000 strike. What that means is that as the bitcoin price moves closer to that level, market makers will need sell when the spot price drops and buy when it rises to keep a market-neutral position. These hedging activities could add to market volatility. “Considering that negative gamma will still significantly impact the market after settlement, the hedging behavior of MMs may further promote price fluctuations,” Griffin Ardern, the chief author of BloFin Academy and head of BloFin Research and Options, told CoinDesk. “But the possibility of upward price movement seems to be greater for now.” Gamma represents the rate of change in delta, which itself measures the sensitivity of an option’s price to changes in the underlying asset’s price. Holding short gamma means holding a short position in options, which can lead to financial loss, especially during periods of high volatility. So when market makers are short gamma, they must trade in the market’s direction to maintain a market-neutral book. The opposite is the case when market makers are long gamma. Toward the end of last year, market makers were long gamma at $90,000 and $100,000, which led to consolidation between these levels. The chart shows gamma levels at strike prices across expirations. It’s clear that the $90,000 strike will remain the one with the most negative delta following the quarterly settlement due this Friday. In other words, the hedging behavior of dealers could add to market swings at around $90,000. According to Ardern, the dealer gamma profile of BTC following Friday’s expiration will look similar to the gold-backed PAXG token. “After removing the impact of options about to be settled, PAXG has a similar GEX distribution to BTC. The price gets support after a significant price decline and encounters resistance when it rises significantly, that is, a wide range of fluctuations,” Ardern said.

Wall Street stocks ended higher on Tuesday, with Apple rising and Nvidia dipping as investors assessed consumer sentiment data and bet on a more flexible trade policy stance from the Trump administration next week. U.S. President Donald Trump said on Monday that automobile tariffs were coming soon, while suggesting that not all proposed tariffs would be enforced in an April 2 announcement on which Wall Street is focused. “I don’t expect that we’ll get the clarity that the market is hoping for, but investors are desperate for any sort of clarity on this front, and to the extent they’ll get some of it, it’s a huge day,” said Ross Mayfield, an investment strategist at Baird. Weighed by worries that Trump’s tariffs would fuel inflation and hurt economic growth, the S&P 500 is down about 2% so far in 2025, and it is on track for its first quarterly loss since June 2023. Ratings agency Moody’s said on Tuesday that the United States’ fiscal strength is on track for a continued multiyear decline as budget deficits widen and debt becomes less affordable. Another report revealed, opens new tab a dip in consumer confidence, with the index falling to 92.9 in March – its lowest since February 2021. Apple (AAPL.O), opens new tab rose 1.4%, helping keep the Nasdaq in positive territory, while Nvidia (NVDA.O), opens new tab slid 0.6%. Tesla shares rose 3.45%, adding to a 12% rally the previous day. The company’s market share in Europe continued to shrink in February as sales of the all-electric car maker dropped for a second month, even as EV registrations overall on the continent grew. KB Home (KBH.N), opens new tab fell over 6% after the homebuilder cut its full-year 2025 revenue forecast. The S&P 500 climbed 0.16% to end the session at 5,776.65 points. The Nasdaq gained 0.46% to 18,271.86 points, while the Dow Jones Industrial Average rose 0.01% to 42,587.50 points. Of the 11 S&P 500 sector indexes, seven rose, led by communication services (.SPLRCL), opens new tab, up 1.43%, followed by a 0.98% gain in consumer discretionary (.SPLRCD), opens new tab. Fed Governor Adriana Kugler said the central bank’s interest rate policy remains restrictive, but progress on bringing inflation back to the central bank’s 2% target has slowed. New York Fed President John Williams said firms and households were “experiencing heightened uncertainty” about what lies ahead for the economy. Among a cascade of economic indicators scheduled this week, focus will be on the personal consumption expenditures price index – the Fed’s preferred inflation gauge – due on Friday. CrowdStrike (CRWD.O), opens new tab gained 3.3% after brokerage BTIG raised its rating on the cybersecurity company to “buy” from “neutral.” Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX), opens new tab by a 1.3-to-one ratio. The S&P 500 posted 11 new highs and 4 new lows; the Nasdaq recorded 42 new highs and 160 new lows. Volume on U.S. exchanges was relatively light, with 13.0 billion shares traded, compared with an average of 16.4 billion shares over the previous 20 sessions.

Gold has demonstrated extraordinary resilience in recent months, staging an impressive rally that has captured the attention of investors worldwide. From mid-December to February, the precious metal experienced a remarkable price advance of $343, showcasing its underlying strength and potential for further growth. The market’s recent price action reveals a nuanced and compelling narrative of strategic movements and sustained bullish momentum. The initial rally began at $2,620 in mid-December, surging impressively to $2,963.20 by late February. What sets this market performance apart are the remarkably controlled corrections that followed, characterized by their shallow depth and brief duration.

The first correction saw a 35% pullback of $122, while a subsequent Fibonacci correction dropped from $3,065 to $3,007, representing just a 23.6% retracement. These measured movements suggest an underlying market strength that continues to support gold’s upward trajectory, even as technical indicators suggest an overbought condition. David Morrison from Trade Nation provides an intriguing perspective on gold’s potential, suggesting an alternative scenario where gold could continue its upward momentum. He offers a balanced view, acknowledging both the possibility of a continued rally and the potential for a further pullback or consolidation. The upcoming Personal Consumption Expenditure (PCE) index data emerges as a critical focal point. This economic indicator could provide crucial insights into monetary policy, potentially serving as a significant catalyst for gold prices and investor sentiment. A confluence of global economic factors is driving gold’s current market position. The dollar index has experienced fractional declines, traditionally a positive indicator for gold prices. Escalating international trade tensions and geopolitical uncertainties are simultaneously increasing gold’s appeal as a safe-haven asset. Ongoing trade conflicts, including potential tariff implementations and tensions in global markets, are further enhancing gold’s attractiveness as a store of value. The constant threat of economic instability continues to drive investors towards this precious metal. The latest market data paints an encouraging picture. The April gold futures contract stands at $3,025.90, with a recent net gain of $10.30, representing a 0.34% increase. Overseas trading in Australia has seen the contract reach $3,026.10, indicating sustained global interest. Investors are advised to maintain a close watch on several key indicators. The upcoming PCE index data, potential shifts in Federal Reserve monetary policy, ongoing geopolitical developments, and movements in the dollar index will all play crucial roles in shaping gold’s future trajectory. For those who want more information on our premium service, click here Wishing you, as always good trading,

Tesla stock (TSLA) led gains among the “Magnificent Seven” on Monday, surging nearly 12% amid investor optimism that President Trump’s tariff plans may not be as wide-reaching as previously anticipated. Reports that Trump will hold off on bringing in levies on the auto sector on April 2 eased worries that Tesla’s bottom line would be impacted. Shares of the EV maker had already been on a downward trend amid concerns of a drop in sales and a backlash against the brand over CEO Elon Musk’s involvement in politics. The stock began digging out of its most recent dip last week when Tesla revealed plans to launch its robotaxi service in 2025. On Monday, the electric car maker responded to complaints about a pause in its Full Self-Driving trial in China, saying it will release the features once regulatory approval is secured. Last Thursday, CEO Elon Musk held an impromptu company all-hands, giving an update on the progress of a number of products while also attempting to assuage fears that he wasn’t ignoring his post. The electric vehicle manufacturer’s sales have slipped recently in key regions like Europe, China, and even the US. As Yahoo Finance’s Pras Subramanian recently reported, not only has the changeover to the new Model Y SUV been seen as a drag on sales, but Musk’s closeness to President Trump and embrace of right-wing politics may be also impacting the brand. Tesla shares are down roughly 31% year-to-date.

BEIJING, March 24 (Reuters) – Chinese electric vehicle maker BYD’s (002594.SZ), opens new tab net profit leapt 73.1% in the fourth quarter of 2024 to a record 15 billion yuan ($2.1 billion), it said on Monday, reaping the rewards of lower prices and higher sales than rivals. Fourth-quarter revenue was up 52.7% at 274.9 billion yuan, the company said in a stock market filing. For the whole of last year, profit rose 34% to a record 40.3 billion yuan on revenue up 29%. BYD’s shares in Hong Kong have risen by 51% year-to-date and are currently slightly off an all-time-high reached last week. The Chinese EV champion overtook Volkswagen to lead China’s car sales with a record 4.25 million vehicles in 2024. The company has continued to roll out cheaper models, contributing to the deepening of a brutal two-year price war in the world’s largest auto market. It has also roiled the market in recent weeks by unveiling a new super-charging EV technology platform and announcing that it will offer smart driving features on most of its line-up at no extra charge. Sales of autos and related products that accounted for 79.4% of the company’s operating revenue generated a 22.3% gross profit margin last year, up 1.3 percentage points from a year earlier. The Warren Buffett-backed automaker said earlier this month it had raised $5.59 billion in a primary share sale that was increased in size, with proceeds to be invested in research and development, and expanding overseas, among other purposes. BYD is considering Germany for a possible third plant in Europe, Reuters has reported. Its overseas shipments jumped 71.9% last year to make up 10% of overall car sales.