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Elon Musk tells investors he'll pause on Tesla stock sales Elon Musk tells investors he'll pause on Tesla stock sales Elon Musk says he won't sell any more shares in Tesla for 18 months or more, likely an attempt to comfort shareholders of the electric vehicle company who have watched the stock lose nearly half of its value since Musk's purchase of Twitter went through in October.  " I am not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn't sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year. Musk dumped another US$2.58 billion worth of Tesla stock last week and has sold nearly US$23 billion worth of his car company's shares since April, when

‌$NVIDIA Corp(NVDA)$‌Stock selloff for LFG Investment Holdings to buy at low price

U.S. stocks slipped Thursday as investors wait for new economic data on the labor market that will give further information about a potential U.S. recession.The Dow Jones Industrial Average shed 39 points, or 0.12%. The S&P 500 lost 0.43% and Nasdaq Composite dipped .48% as markets reacted to a slight uptick in weekly jobless claims, reported Thursday morning.Next, all eyes are on the July nonfarm payrolls report schedule to be released Friday. The report will show whether the strength of the U.S. job market - which has been a cornerstone of shaking off recession fears - continued in July.“With the jobs report coming tomorrow, today’s slight uptick in jobless claims isn’t likely to be a major market nor Fed mover,” Mike Loewengart, managing director of investment strategy at E*Trade at

Key PointsThe S&P 500 on Thursday capped its worst six-month start to a year since 1970.Some 68% of chief financial officers expect a recession to occur during the first half of 2023, according to a CNBC survey.Experts suggest diversifying your portfolio, including bonds despite falling prices, and adding to cash reserves.Months of stock market volatility, surging inflation and rising interest rates have left many investors wondering if a recession is coming.The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. In all, it’s down more than 20% year to date. The Dow Jones Industrial Average and Nasdaq Composite are also down significantly since the beginning of 2022, dropping more than 15% and nearly 30%, respectively.Mea

Some experts say a recession is coming. Heres how to prepare your portfolioKEY POINTSThe S&P 500 on Thursday capped its worst six-month start to a year since 1970.Some 68% of chief financial officers expect a recession to occur during the first half of 2023, according to a CNBC survey.Experts suggest diversifying your portfolio, including bonds despite falling prices, and adding to cash reserves.Months of stock market volatility, surging inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. In all, it’s down more than 20% year to date. The Dow Jones Industrial Average and Nasdaq Composite are also down significantly since th

Global oil prices could reach a “stratospheric” US$380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co analysts warned.The Group of Seven nations are hammering out a complicated mechanism to cap the price fetched by Russian oil in a bid to tighten the screws on Vladimir Putin’s war machine in Ukraine. But given Moscow’s robust fiscal position, the nation can afford to slash daily crude production by 5 million barrels without excessively damaging the economy, JPMorgan analysts including Natasha Kaneva wrote in a note to clients.For much of the rest of the world, however, the results could be disastrous. A 3 million-barrel cut to daily supplies would push benchmark London crude prices to US$190, while the worst-case scenar

Oil May Collapse to $65 by the Year-End on RecessionCrude oil could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits, Citigroup Inc. has warned.That outlook is based on an absence of any intervention by OPEC+ producers and a decline in oil investments, analysts including Francesco Martoccia and Ed Morse said in a report. Brent, the global crude benchmark, last traded near $113 a barrel.Oil has soared this year following the invasion of Ukraine, and banks are now trying to chart its course into 2023 as central banks raise interest rates and recessionary risks mount. Citi’s outlook compared the current energy market with crises of the 1970s. At present, the bank’s economists do not expect the US to dip into recession.“For oil,

SINGAPORE: Brent crude futures extended gains on Tuesday (Jul 5) as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries.Brent crude futures rose 82 cents, or 0.7 per cent, to US$114.32 a barrel by 1.05am GMT (9.05am Singapore time) after a 2.4 per cent gain on Monday.US West Texas Intermediate crude climbed US$2.58, or 2.4 per cent, to US$111.01 a barrel, from Friday's close. There was no settlement for WTI on Monday because of the Jul 4 US public holiday.On Tuesday, Norwegian offshore workers began a strike that will reduce oil and gas output, the union leading the industrial action told Reuters.The strike is expected to reduce oil and gas output by 89,000 barrels of oil equivalent per day (boepd), of which gas output makes up 27,500 boepd, Equinor h

KEY POINTSU.S. President Joe Biden presented the idea of an oil price cap to the rest of the G-7 leaders and his counterparts agreed to look at how to do it.Energy analysts have questioned exactly how the G-7 can impose a price ceiling for Russian oil, warning that the plan could backfire if key consumers are not involved, and time may be running out to make it workable.Russia’s Deputy Prime Minister Alexander Novak said Wednesday the idea could push oil prices even higher.The G7 has floated the idea of an oil price cap, but experts are doubtful about how effective this would be.The G7 has floated the idea of an oil price cap, but experts are doubtful about how effective this would be.The world’s seven-largest industrialized economies have floated the idea of a price cap on Russian oil to

Tesla deliveries fall with temporary closure of China factoryNEW YORK: Tesla's deliveries of electric vehicles fell in the second quarter compared to the previous one due mainly to a weeks-long closure of its factory in China, the company said Saturday (Jul 2).Elon Musk's enterprise delivered 254,695 vehicles from April to June, it said in a statement.That's 27 percent more than the same period a year ago but down 18 percent from the January-to-March quarter of 2022 and the first such decline in more than two years.This marks a disappointment for a company that says it is posting strong growth, touting the opening of two new factories this year, in Germany and Texas.The drop in deliveries was bigger than that anticipated by analysts, who had expected 264,000 vehicles to be handed over to b