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Hey there, Bullets Fans –
Your Morning Bullets Brief Updates are here! And that means trivia is, too.
On this day in 1864, the price of gold soared 10%. Why was that?
Think you know the answer? You can check it in the closing area down below!
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Future contracts tied to the Dow Jones Industrial Average were buoyed this morning by companies like Home Depot and Walmart. Shares of both names soared after they reported stellar earnings for the first quarter.
The Tuesday-morning boost follows a pretty rough week for Wall Street, which saw the Dow and S&P 500 tumble over 1%, while the Nasdaq plummeted more than 2%.
Macy’s also shared stronger-than-expected earnings today, pushing shares of the retailer up about 6%.
And Amazon is apparently weighing whether or not it wants to purchase Metro-Goldwyn-Mayer Studios. This news comes on the heels of the report that AT&T is merging WarnerMedia with Discovery.
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This investing legend is letting you in on his next top pick
Image Source: Jim Spellman
If you have ever seen the Oscar-winning movie The Big Short, or read the book that inspired it, then you know that Michael Burry was one of the first people to predict the subprime mortgage crisis back in 2008. His decision to bet against mortgage securities before anyone else launched him into the spotlight at the time.
That same investor has just filed a $534 million bet against Tesla.
Burry had shared on Twitter that the company should not rely so heavily on regulatory credits as a means to make money. That tweet has since been deleted.
Tesla sold $401 million in such credits to automakers in the final quarter of 2020, which contributed to a net income of $270 million. Shares of the company have fallen almost 20% so far this month. Yesterday shares decreased over 4%.
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