Markets opened lower to kick off a busy week of corporate earnings reports. This week, investors expect to hear from Tesla (TSLA) - Get Tesla Inc Report, Amazon (AMZN) - Get Amazon.com, Inc. Report, Apple (AAPL) - Get Apple Inc. (AAPL) Report, Facebook (FB) - Get Facebook, Inc. Class A Report, Alphabet (GOOGL) - Get Alphabet Inc. Class A Report, Caterpillar (CAT) - Get Caterpillar Inc. Report, Ford (F) - Get Ford Motor Company Report, McDonald's (MCD) - Get McDonald's Corporation (MCD) Report, Advanced Micro Devices (AMD) - Get Advanced Micro Devices, Inc. Report, Boeing (BA) - Get Boeing Company Report, Starbucks (SBUX) - Get Starbucks Corporation Report, PayPal (PYPL) - Get PayPal Holdings Inc Report, United Parcel Service (UPS) - Get United Parcel Service, Inc. Class B Report and much more.
The Dow Jones Industrial Average was down 36.67 points, the Nasdaq Composite was down 29.83 points and the S&P 500 was down 3.20 points.
Jim Cramer and Action Alerts PLUS senior analyst Jeff Marks discussed Tesla's earnings report after the bell, Lucid Motors, Amazon, cryptocurrency, Hasbro (HAS) - Get Hasbro, Inc. (HAS) Report, Otis Worldwide (OTIS) - Get OTIS WORLDWIDE CORPORATION Report, Lockheed Martin (LMT) - Get Lockheed Martin Corporation (LMT) Report, Robinhood and much more.
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Electric vehicles are in focus as Tesla is set to report earnings after the bell after Lucid Motors begins trading on the Nasdaq.
Analysts expect Tesla to report second-quarter earnings of 94 cents a share on revenue of $11.53 billion.
Tesla opened over a percent higher to $649.83 ahead of the report.
The merger between special purpose acquisition company Churchill Capital (CCIV) - Get Churchill Capital Corp IV Report and Lucid Motors closed Friday after enough shareholder votes were secured following an extension of the voting deadline.
Following the closure of the deal, Churchill Capital will delist from the New York Stock Exchange.
"Lucid has further increased its momentum as we gear up to make the first customer deliveries of our Lucid Air lineup of electric sedans later this year," Lucid CEO and CTO Peter Rawlinson said in a statement.