Elon Feeds Tesla Fanboys More Kool-Aid… Cruiseliner Stocks Audition for “Titanic”

Before we all tune in to watch the US men’s soccer team embarrass the nation more than our first Presidential debate…

Let’s catch you up on what you missed…

In today’s issue we’ll cover:

Tech giants practically carrying the SPY on their back once again…

Cruiseliner stocks auditioning for “The Titanic”...

And Elon feeding his HODLer’s more kool-aid, causing the stock to rise 6%.

Let’s dive right in…

Here’s where today’s heatmap landed.

Today was a good start to the official second half of the stock market. The Nasdaq stole the show, rocketing to a record high with a flashy 0.83% climb to 17,879.30. 

Meanwhile, the S&P 500 and Dow Jones Industrial Average played their parts, each notching up gains of 0.27% to 5,475.09 and a modest 0.13% to 39,169.52, respectively.

The Magnificent 7, consisting of Tech giants like Microsoft (+2.2%), Apple (+2.9%), and Nvidia (+0.6%) weren't just supporting actors—they were the headliners, driving a 1.3% surge in the tech sector's popularity on this July trading debut.

For you older folks who care, the bond market decided to add some drama of its own. The 10-year Treasury yield jumped nearly 13 basis points to 4.471%, while the 2-year yield also joined the show, climbing 4 basis points to 4.762%.

But not all sectors were in the limelight. Cruise stocks faced choppy waters as Hurricane Beryl made an unwelcome appearance. Norwegian Cruise Line and Carnival each took a dive of nearly 5%, while Royal Caribbean did a slippery slide of over 2%.

This stormy decline came as Hurricane Beryl, a formidable Category 4 guest, stirred up trouble in the southeastern Caribbean. It seems even the market isn't immune to a bit of weather-related drama.

As the day winds down on Wall Street, it's a mixed bag of hopeful vibes and nervous nail-biting among investors. Will tech keep rocking the charts, or will economic curveballs crash the party? Everyone's holding their breath for the upcoming June jobs report.

Stock.News Spikers of the Day

Senti Biosciences, Inc.: [SNTI] [+51.27%]

Bite Acquisition Corp.: [BITE] [+43.68%]

Elon Feeds Tesla Fans More Kool-Aid

Ladies and gentlemen, start your engines—or rather, charge your batteries—because Tesla’s stock is racing ahead like it's on a zero-to-sixty test drive. And twitter anon’s who drank the kool-aid are all revved up, anticipating some juicy second-quarter delivery numbers from the EV giant.

I mean come on, this is Elon Musk we’re talking about—the guy who names his kids after Wi-Fi passwords and runs more companies than most people have houseplants. When he's not busy tweeting about Dogecoin or challenging Mark Zuckerberg to a cage fight, let’s not forget his #1 mission is still revolutionizing the auto industry.

(Source: Fortune)

Which explains why Tesla’s shares surged over 6% today. The buzz of optimism stems from expectations that the company is about to unveil solid Q2 delivery figures. It appears Tesla investors, who’ve been holding on to their shares tighter than Elon holds onto his dream of colonizing Mars are finally seeing a glimmer of hope.

Meanwhile, over in China, Tesla’s EV comrades like Nio, Li Auto, and XPeng also flexed their muscles, showing off impressive delivery numbers and boosting their stock prices too.

The wizards at Wedbush Securities, led by the ever-enthusiastic Dan Ives, are predicting a “mini rebound” in Chinese demand. They’re betting Tesla will hit close to 435,000 deliveries this quarter. The current consensus? Just a smidge under 439,000, which isn’t too shabby considering they clocked in nearly 387,000 in Q1.

And speaking of things that sound like science fiction, Tesla is gearing up for a big reveal on August 8. You may have heard the hype. A driverless robotaxi. Yes, Elon is dangling this dream in front of his investors like a cat with a laser pointer, and they’re all chasing it around the room, hoping it’ll eventually lead to that trillion-dollar market cap. 

(Source: Yahoo Finance)

But what caught my eye the most is that this robotaxi will also sanitize itself. Because apparently, Elon has a plan for everything, including cootie-free rides. Tesla’s even got a patent for an automated cleaning system, because, let’s face it, nobody wants to catch a cold from a robotaxi.

But regardless of this gimmick, Wedbush is sticking with its “outperform” rating and a $275 price target, with a sky-high “bull-case” scenario of $350 in 2025.

As for me, I’m not buying into the hype until I see the results of this robotaxi. But if there’s one thing you can say about Musk, it’s that he’s been dancing over doubters his entire career.

Stock.News has positions in Tesla, Microsoft, and Apple.