It would seem that the major stock indexes are waiting for some form of push to take them above the all-time high percentage points.
Nobody knows what this push could be, with many suggesting it could be the corporate earnings reports coming next week, or the finalization of the US-China trade deal.
Come what may, losses are becoming a reoccurring thing in stocks, as both The Dow, and Nasdaq had a respective fall of 0.05 percent, and 0.21 percent, with the S&P 500 completely flat on Thursday. Tesla suffered one of the biggest loses on Thursday.
Tesla shares plummeted by 2.77% owing to the news that the company along with its partner Panasonic were putting plans on hold on the Gigafactory project in Nevada. Earlier, in one of its correspondence to shareholders, the company mentioned that its Model Y crossover vehicle would be manufactured in the gigantic factory.
Tesla didn’t waste any time in putting a positive spin on the news, in a bid to allay fears amongst investors. It said the temporary halt was because it wants to maximize the existing capacity of other facilities to meet their workflow. This did not stop investors from worrying that the demand for Tesla vehicles may be on the decline and it could also be that relationship between the company and battery producer Panasonic may be turning sour. As things currently stand, Tesla Stock is down by 19.3% this year alone.
