There’s only one ‘perfect asset’ to fight all the bad news that could be coming, says this strategist

Ahead of that, stock futures are falling after Ford warned on high supply costs, on the heels of FedEx’s FDX, +1.17% profit caution last week. The dollar and cash have been among the most popular havens for investors as they navigate recession risks with higher rates and higher inflation, alongside a brutal war in Europe. … Read more

Ford stock drops more than 4% as supply costs to jump by $1 billion, parts shortages to leave more cars unfinished

Ford Motor Co. shares dropped more than 4% in the extended session Monday after the company said inflation and parts shortages will leave it with more unfinished vehicles than it had expected, reminding Wall Street supply-chain snags are far from over for auto makers. Ford F, +1.43% said it expects to have between 40,000 and … Read more

Department of Consumer Affairs sets up panel on Right to Repair

In a bid to develop an overall framework for the Right to Repair, the Department of Consumer Affairs has set up a committee chaired by Additional Secretary Nidhi Khatri.  The committee includes Anupam Mishra, Joint Secretary DoCA; Justice Paramjeet Singh Dhaliwal; G.S. Bajpai, Chancellor, Rajiv Gandhi National University of Law, Patiala; Ashok Patil, Chair of … Read more

SpaceX employees say Elon Musk’s behavior is a ‘distraction and embarrassment’: report

A group of SpaceX employees reportedly wrote a letter to the company’s executives that detailed frustrations over the recent behavior and public statements of the company’s founder and chief executive, Elon Musk. According to the Verge, the publication that first reported on the letter’s existence, employees referred to Musk’s behavior as a “distraction and embarrassment” … Read more

3 crucial financial moves to make now after the Fed’s biggest rate hike since 1994

In a matter of months, it’s become more expensive to carry a credit card balance, a car loan or a mortgage as the Federal Reserve’s interest rate hikes have seeped into borrowing costs. It’s tough medicine that central bankers hope will break the fever of hot inflation — and no one expects the doses to … Read more

Cathie Wood has a simple response to Tesla getting booted out of an S&P 500 ESG index: ‘Ridiculous’

Cathie Wood isn’t pleased about one of her most popular investments, Tesla Inc., being excluded from a prominent index that tracks eco- and socially friendly companies. “Ridiculous,” was essentially Wood’s terse response to news that the S&P 500 ESG Index has dropped Elon Musk’s electric-vehicle maker Tesla TSLA, -6.80%  from its lineup, as a part … Read more

Carvana stock claws back despite ‘uniquely difficult environment’ that hit earnings

Shares of Carvana Co. were bouncing back in after-hours trading Wednesday after the used-car retailer admitted that both industry-wide and company-specific issues impacted its business in the first quarter but said that it had plans to address its challenges. Carvana CVNA, -9.11% noted in its letter to shareholders that the omicron variant and used-car prices … Read more

China’s Nio halts EV production as COVID lockdowns disrupt its supply chain

Nio Inc., the China-based electric-vehicle maker, over the weekend warned of delivery delays after suspending production due to COVID-19 restrictions that have disrupted its supply chain. “There will be a delay in the delivery of vehicles for many customers in the near future, and we ask for your understanding,” Nio NIO, -1.77% said in a … Read more

Rivian stock falls nearly 13% after EV maker loses more than $2 billion, trims production targets

An earlier version of this report had incorrect quarterly loss figures for Rivian. It has been corrected. Rivian Automotive Inc. lost more than $2 billion in the fourth quarter, saying that supply-chain disruptions and other problems continued to plague its assembly line. Rivian RIVN, -6.35% said late Thursday it lost $2.46 billion, or $4.83 a … Read more

Elon Musk gave 5 million Tesla shares to charity after teasing possible donation to fight world hunger

Tesla Inc. Chief Executive Elon Musk donated more than 5 million Tesla shares in November, days after the U.N. World Food Program outlined a plan to potentially use a $6 billion donation from the world’s richest man. A filing with the Securities and Exchange Commission made public Monday showed the donation, but not the recipient. … Read more