mentor, school, students-3512369.jpg

Today in the Market (10/18/2023)

Good Evening! On Wednesday, it was not a great day for the U.S. markets as investors absorbed weak profits from companies today. In addition, escalating tensions in the Middle East were reflected in an increase in the price of oil.

The three indexes all witnessed significant declines with the Nasdaq Composite sliding down by 1.62%, the S&P 500 falling by 1.34%, and the Dow Jones decreasing by 0.98%.

A CRAZY DAY FOR TESLA

Tesla (TSLA) shares exhibited volatility during after-hours trading after the electric car manufacturer’s failure to meet expectations in terms of both revenue and profit. However, the firm did disclose that Cybertruck deliveries are scheduled to proceed as planned in November of this year.

  • Revenue: $23.4 Billion vs. $24.06 Billion Expected
  • Gross Margin: 17.9% vs. 18.0% Expected
  • Earnings Per Share: $0.66 vs. $0.74 Expected

Let’s talk about car deliveries so far! Tesla reaffirmed its objective of manufacturing 1.8 million cars by 2023. So far Tesla has worldwide delivered over 1.3 million cars in the first three quarters of the year. However, in order to achieve its annual delivery target, the business will need a robust quarter of approximately 500,000 deliveries to meet the goal.

Did someone say Cybertruck? No? Well too bad! Tesla confirmed that the delivery schedule for the Cybertruck remains unchanged, and customers may expect to get their vehicles starting in November. However, despite Tesla’s announcement of a delivery event scheduled for Q3, no such event transpired during the quarter, but expect to see them on the road before the end of the year!

NOT AS BAD AS WE THOUGHT?

mentor, school, students-3512369.jpg

Based on a limited survey of borrowers, researchers at the Federal Reserve Bank of New York are forecasting that student loan repayments would not significantly impede the economy.

Why does this matter? Well… Retailers, borrower advocates, and other concerned parties express concerns about the possible consequences of resuming repayments after a 43-month hiatus. However, according to the analysis, resuming loan payments would result in a decrease of $1.6 billion each month in borrowers’ expenditure, equivalent to a 0.1% decline from August levels. The delinquency rates would ultimately revert to their pre-pandemic levels.

What does that look like for an individual borrower? According to the analysis, debtors were granted pandemic forbearance, resulting in more than $260 billion in waived payments. Following the halt, borrowers anticipate reducing their monthly expenditures by an average of $56 compared to their stated average in August.

The overall picture? Although some borrowers faced difficulties, the researchers emphasized that the overall effect would be mitigated by many variables.

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?