Investing.com -- Tesla has cut its prices across the globe as it struggles with falling sales amid fierce competition, while Bitcoin edged higher after its widely-anticipated halving event. Crude slipped lower, while U.S. stocks are set to open higher at the start of a week that includes the release of earnings from the vital Big Tech sector.
That said, Bloomberg reported earlier Monday that Muck had pushed for a 20% headcount reduction, suggesting that the actual number of reductions could be more than 20,000 roles. Tesla is set to report its first quarter earnings on Tuesday, and is expected to log a sharp decline in its operating profit as well as its first revenue drop in four years.2.
A significant portion of that growth is likely to come from the Big tech powerhouses, with UBS forecasting earlier this month that six of the seven, excluding Tesla, are expected to post collective earnings growth of 42.1% in the first quarter., the world’s largest cryptocurrency by market capitalization, edged higher Monday, but significant gains in the wake of its widely-anticipated halving event have been hard to find.
However, Bitcoin only gained marginally, even as risk appetite improved amid waning concerns over an Iran-Israel war, and trades significantly below the all-time high of $73,750, hit in March. Strength in the dollar and the prospect of higher-for-longer U.S. interest rates limited any major upside in crypto prices.
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