Tesla Inc (NASDAQ:TSLA) shares are trading flat at $737.34 Wednesday afternoon. The company reports second-quarter earnings results Wednesday after market close.
According to analyst consensus estimates, Tesla is expected to report revenue of $17.39 billion on EPS of $1.91.
What Happened?
Market indexes are higher Wednesday on continued volatility amid the start of the earnings season. Recent earnings reports from large US companies have raised market sentiment going into the earnings season despite macroeconomic concerns.
Markets also continue to assess inflation concerns and Fed policy outlook. Heightened U.S. inflation has raised concerns of aggressive Fed policy tightening, which would pressure economic growth.
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Why it Matters
Worse-than-expected June CPI data reported last week has caused recession concerns and concerns of more aggressive Fed policy, which could impact consumer spending. The Consumer Price Index rose 9.1% for the month of June, above estimates of 8.8%.
According to data from Benzinga Pro, Tesla has a 52-week high of $1,243.49 and a 52-week low of $620.57.
