To The Moon

Wall Street's early reaction to Elon Musk's robotaxi reveal?Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup. The overnight stock drop points to about a $40 billion slump in the electric-car maker's valuation at the open.Tesla on Thursday evening revealed a two-seat vehicle without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.Following a strategic pivot toward robotics and autonomy this year, Musk had billed the event as Tesla's most significant since the launch of its benchmark-setting Model 3 in 2017. For investors, a move into robotaxis offers one way to justify Tesla's $763 billion market value. After a rally in the stock in anticipation of the event, Musk's company is worth almost three times as much as Toyota, the world's best-selling car maker."We were disappointed by the lack of detail regarding Tesla's near-t

Stock index futures were higher on Friday, as traders look forward to the key inflation data slated to come later in the day. S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.7% and Dow