Week of 07/01-07/05 Tesla Rallies On Deliveries, Optimistic Jobs Report Data

U.S. stocks are set to close at all-time highs on Friday as investors digest the June jobs report economic data that could push the FED to cuts rates as soon as September. The U.S. economy added 206,000 jobs in June which is more than the 190,000 expected by Wall Street. The unemployment rate unexpectedly rose to 4.1%, being its highest level since Q3 2021. As the labor market continues to cool, this may give the Federal Reserve the confidence to execute their first rate cut towards the end of the summer. All three market indexes rose this week as tech giants continue to rally on positive economic news. Tesla stock took the spotlight this first week of July as shares surged over $250 due to vehicle deliveries beating estimates. Tesla continues to impress investors with its EV business strategies and autonomous AI technology, which could take the stock back to all-time highs sometime soon.

Un-employment Rate

The unemployment rate represents the number of unemployed persons expressed as a percentage of the labor force. The unemployment rate for a particular age/sex group is the number of unemployed in that group expressed as a percentage of the labor force for that group. Unemployment as a percent of the civilian labor force. The definition for an unemployed person is: Persons (16-65 years) who were available for work (except for temporary illness) but did not work during the survey week, and who made specific efforts to find a job within the previous 4 weeks by going to an employment agency, by applying directly to an employer, by answering a job ad, or being on a union or professional register. The percentage number is calculated unemployed / (employed + unemployed).