It's that time of day.
As the workday wraps up, let's go through the biggest stories of the day.
Amazon Inc. (AMZN) - Get Amazon.com, Inc. Report , Starbucks Corp. (SBUX) - Get Starbucks Corporation Report and Tesla (TSLA) - Get Tesla Inc Report just keep appearing in the news cycle. But! There's a newcomer—the treasury yield.
Amazon, Starbucks Blast Seattle Corporate Tax Move; HQ2 Cities Keep Watchful Eye
The Seattle-based companies have been the talk of the town today after Seattle's City Council passed a new corporate tax.
The so-called Amazon Tax will cost the city's biggest companies, with annual sales of more than $20 million, around $275 a year for each full-time employee over a period of five years. While that figure is about half of the original proposal of $500, Seattle hopes to raise around $250 million from the new tax plan and use the cash to build affordable housing and improve services for the city's homeless.
"We remain very apprehensive about the future created by the council's hostile approach and rhetoric toward larger businesses, which forces us to question our growth here," Amazon vice president Drew Herdener told Reuters even as he noted that the company had restarted a stalled construction project following the 9-0 city council vote.
HQ2 cities aren't the only ones that should be keeping a watchful eye. Check out the story.
Here's When Tesla's Stock Starts Crushing the S&P 500 Again: Chart
After posting a major rally in the first five months of 2017, Tesla's stock price has languished. Shares are down almost 9% year-to-date, and about 10% in the trailing 12 months. That's versus an S&P 500 that's up about 15% on a total returns basis since this time last year.
To figure it out, we're turning to the charts for a technical look.
What's Driving the 10-Year Yield to Historic Levels This Week?
Treasury yields surged Tuesday as the notion of a continually strong economy wreaked havoc on bond markets.
At the same time, bond markets have suffered as trade talks between the U.S. and China continue to face mounting challenges.
Might be time to take a look at the yield. Luckily, there's a chart for that.