Market Bizzz

Musk, said Ives, needs to end “Twitter overhang on the Tesla story with his focus back on the golden child Tesla which needs his time more than ever given the soft macro, production/delivery issues in China, and EV competition increasing from all corners of the globe.”

Motilal Oswal has the most bullish view and expects the stock to hit ₹325, translating into a further 21.2% upside from the current price. “Strong results; consensus continues to upgrade,” the firm said in a client note. “Renewables continue to be unreliable with problems either related to availability, costs, storage or safety. As a result, dependence on coal is likely to increase in the near term whether investors prefer the same or not.”

A split Congress would diminish the outlook for fiscal support measures, leading to investors to expect the Fed to sooner become less aggressive in raising interest rates, strategists at Saxo Markets wrote. They added that such an outcome could spark an equities rally and would likely put downward pressure on the dollar.

Early midterm-election results showed several Republican senators had easily won re-election. Investors expect Republican gains, and some analysts view likely Congressional gridlock as a slight negative for the dollar if it limits fiscal spending.

Gold prices were listless on Tuesday as investors held to the sidelines ahead of key U.S. inflation figures, which are likely to influence the Federal Reserve’s rate-hike narrative.

The poll was conducted ahead of reports from the American Petroleum Institute due at 4:30 p.m. ET (2130 GMT) on Tuesday, and the Energy Information Administration due at 10:30 a.m. (1530 GMT) on Wednesday.

Digital World Acquisition Corp surged 66% after former U.S. President Donald Trump hinted at another White House bid. The blank-check firm has agreed to take social-media startup Trump Media & Technology Group Corp public.