Week of May 3 2019 Weekly Recap & The Week Ahead
“Letting losses run is the most serious mistake made by most investors.” – William O’Neil
1. Tesla to Slash Solar Panel Prices by 38% — losing its status as the nation’s leading rooftop solar company last year, Tesla (NASDAQ:TSLA) announced plans to begin selling solar panels and related equipment for up to 38% below the national average price, NYT reports. This will be achieved by standardizing systems and requiring customers to order them online. Homeowners will also photograph electric meters and send the images to the company, reducing the need for site visits.
2. Boeing CEO to Pitch 737 Max Comeback — Boeing (NYSE:BA) CEO Dennis Muilenburg held his first press conference since the worldwide grounding of the 737 MAX, which led to investigations, lawsuits and a sharp loss in shareholder value. While reports over the weekend suggested that pilots have warned draft 737 MAX training proposals did not go far enough to address their concerns, the FAA may clear the plane to fly in late May or the first part of June.
3. FOMC Meeting Recap— Fed officials agreed to hold their benchmark interest rate steady and signaled comfort that their wait-and-see posture had steadied the economy. the Fed refused to signal anything other than that it was still on pause, while Chair Jerome Powell said the factors dragging on inflation might be “transitory,” not “persistent.”
4. Merck Steps Up Meales Vaccine Production — Merck (NYSE:MRK), the sole U.S. supplier of measles vaccines, has increased output to meet an uptick in U.S. demand amid the country’s biggest outbreak in 25 years. “The demand side of the equation hasn’t been outstripping our underlying capacity,” Chief Marketing Officer Mike Nally said in an interview. The CDC reported 704 cases of measles as of April 26, a 1.3% increase since the 695 reported the week before, with the vast majority of cases occurring in children who have not received the MMR vaccine.
The week ahead — Economic data from Econoday.com:
