Wall Street Open Mixed Before Fed Meeting; Tesla Slips; Down 100 pts by Investing.com

© Reuters.

© Reuters.

By Geoffrey Smith Investing.com – US equity markets opened mixed in tight ranges Tuesday as the market assimilated a series of corporate reports that broadly pointed to an ongoing economic recovery, although a price has already been set. in general. The market remained dominated by the start of the last monetary policy meeting of the Federal Reserve, where no changes are expected in interest rates or in the purchase of bonds, but which, nevertheless, will have more concrete signs of recovery than digest that last meeting. Whether such data points will be sufficient to formally move the Fed’s guidance is a moot point. As of 9:40 am ET (1440 GMT), it was down 96 points, or 0.3%, to 33,885 points. It was down 0.2% and down 0.1%. Among the first to move, Tesla (NASDAQ 🙂 stocks stood out, falling 2.5% after posting record gains after Monday’s close. The lukewarm reaction was due to the fact that the electric car maker once again relied on sales of regulatory emissions credits and holdings of its corporate treasury to generate its profits. Operating losses increased as average costs of sales fell, reflecting the higher share of the sales mix for its lower-margin Model 3 product. Nonetheless, analysts at Goldman Sachs (NYSE 🙂 raised their target price for the stock to $ 860 in response.

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