Tesla delays Robotaxi Launch 12/06/2025

HOT stories for today

US market wrap:

• U.S. equities ended lower on Wednesday as investors assessed early progress on a U.S.-China trade deal alongside the latest inflation figures. After a recent upward stretch, markets paused, with major indexes closing close to flat. The S&P 500 dipped 0.5%, while the Nasdaq Composite slipped 0.27%. The Dow Jones Industrial Average was virtually unchanged, edging down just 1.1 points.
• The Consumer Price Index (CPI) rose 0.1% in May, slightly below economists’ expectations of a 0.2% increase, according to a Dow Jones survey. Investor focus remains on trade negotiations between Washington and Beijing. While a tentative framework appears to be taking shape, Commerce Secretary Howard Lutnick said Wednesday that existing U.S. tariffs on Chinese goods will stay in place for now.

Tesla delays Robotaxi Launch

• Tesla has postponed its much-anticipated robotaxi pilot in Austin to June 22, CEO Elon Musk confirmed. The delay follows a public rift—and apparent reconciliation—between Musk and Donald Trump, which investors view as key to advancing autonomous vehicle regulation. Despite the delay, Tesla shares rose, recovering from a recent 14% drop. Analysts, including Wedbush’s Dan Ives, see Musk’s recent media blitz as an "apology tour" aimed at restoring political ties.
• The program will begin with just 10 vehicles, expanding to 1,000, using standard Teslas with sensors—while the full Cybercab remains in development. Though Tesla’s 2024 growth was modest and EPS fell, long-term forecasts remain bullish. CFRA’s Garrett Nelson raised his price target to $320, citing optimism around the robotaxi rollout and Tesla’s shift toward autonomous tech.

Stock’s on the move:

• Oklo (OKLO) — Shares of the advanced nuclear reactor firm soared over 25% after receiving a notice suggesting it is poised to secure a contract to supply power to a U.S. Air Force base.
• GameStop (GME) — The video game retailer's stock fell nearly 5% following disappointing Q1 revenue, which dropped to $732.4 million, down from $881.8 million a year earlier.
• Bread Financial (BFH) — The fintech company climbed 5% as key credit performance metrics improved. The net loss rate dropped to 8.0% in May from 8.8% a year ago, and delinquency rates declined to 5.7%, down from 5.9%.
• Lockheed Martin (LMT) — The defense giant slid about 5% after reports that the Pentagon halved its order for F-35 fighter jets to 24 units from 48, according to Reuters, citing Bloomberg.
• Sunrun (RUN) — Shares dropped nearly 3% after Jefferies downgraded the solar firm to underperform, warning that the company may face pressure if residential solar incentives are excluded from the federal budget.

                                      Watchlist: ORCL, OXM, ADBE, RGTI, OKLO, TSLA, META, AAPL



Today’s action

• Asia-Pacific markets were mixed on Thursday as investors digested U.S. President Donald Trump’s latest comments, declaring a China trade deal "done"—but with a twist. Trump hinted at maintaining 55% tariffs on Chinese imports, a move later confirmed by Commerce Secretary Howard Lutnick, reinforcing a hardline stance.In regional equity markets, Japan’s Nikkei 225 slipped 0.58%, China’s CSI 300 hovered unchanged.
• U.S. stock futures moved lower early Thursday following the S&P 500’s first negative session in four days. S&P 500 futures were down 0.27%, Nasdaq 100 futures fell 0.25%, and Dow futures declined 0.33%, or 141 points. In extended U.S. trading, Oracle (ORCL) jumped over 7% after posting strong fiscal Q4 results, beating expectations on both revenue and earnings. Investors now turn their attention to the upcoming May Producer Price Index (PPI), set for release at 8:30 a.m. ET, and to further developments in U.S.-China trade negotiations. Rising U.S.-Iran tensions also loom, after Trump expressed skepticism about reaching a new nuclear agreement. That uncertainty helped push U.S. crude oil futures up more than 4% on Wednesday.

Bitcoin

• Bitcoin (BTC) social media sentiment has surged to its most bullish level in seven months, fueled by the cryptocurrency's recent attempts to reclaim its all-time high of $112,000, set on May 22. According to crypto analytics firm Santiment, as of June 11, there are 2.12 positive BTC mentions for every negative one across social media platforms—marking the highest ratio since Nov. 6, the day after Donald Trump’s presidential election victory, when Bitcoin first broke through $70,000. 
• Currently trading at $108,635, Bitcoin is down about 3% from its peak, but investor sentiment remains firmly in the “greed” zone, as tracked by several market fear-and-greed indexes. Multiple breakouts above $110,000 this week have amplified optimism, suggesting traders still see room for further upside despite recent consolidation.
  Watchlist: Bitcoin: 100 000-112 000, Ethereum:1500-2800, Solana: 80-183

Forex

• The Japanese Yen extends losses near a two-week low as optimism over U.S.-China trade talks weakens demand for safe-haven assets. The USD/JPY holds near 145.00, supported by a firmer dollar, though gains remain limited amid BoJ-Fed policy divergence. 
• EUR/USD pulls back to around 1.1400 as the U.S. Dollar strengthens on easing tariff tensions. A U.S.-China trade framework and a court ruling supporting Trump’s tariffs bolster dollar demand, weighing on the euro.
  Watchlist: EUR/USD: 1.0700-1.1600, USD/JPY: 140-151

Basic Materials

• Gold (XAU/USD) extended gains for a second straight session on Thursday, reaching a one-week high near $3,378 during Asian trading. The rally is driven by safe-haven flows amid renewed US-China trade uncertainty and geopolitical tensions in the Middle East. A softer US CPI report has also boosted Fed rate cut expectations, weakening the US Dollar (USD) and further supporting the precious metal ahead of key economic data releases later in the day.
• Meanwhile, West Texas Intermediate (WTI) crude oil climbed toward $67.00, its highest level in nearly two months. The rally is fueled by rising Middle East tensions and a reported 3.644 million-barrel draw in US crude inventories for the week ending June 6, according to the EIA. The heightened geopolitical risk environment continues to support upward momentum in oil prices.
  Watchlist: GOLD 2600-3500, US Oil: 55.60-70.00
  
   

Key Economic Events Today:

EST time
08:30 am: USD Core PPI, PPI
10:30 am: USD Natural Gas Storage
01:01 pm: USD 30-y Bond Auction


Earnings

BMO (Before the US Market opens)
UXIN          Uxin Limited
YRD           Yiren Digital
AMC (After the US Market closes): ADBE, RH

The TEFS Analyst team wishes you a successful day!