The Biden Administration's recent decision to impose new tariffs on Chinese goods impacted many sectors, particularly the electric vehicle sector. Tesla (TSLA) CEO Elon Musk expressed his disapproval of the new legislation — which raised tariffs on Chinese electric vehicles from 25% to 100% — despite his previous support for Chinese tariffs. In a statement, Musk said, "Things that inhibit freedom of exchange or distort the market are not good." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
CEO pay is on the rise across corporate America as Tesla stockholders prepare to vote on a $56 billion compensation package for Elon Musk.
Economic data from the US S&P Global Composite Purchasing Managers Index (PMI) was released on Thursday morning, reaching 54.4 in May, the highest level in over two years. Speculation about how the Federal Reserve will make its next policy decision mounts as the data adds to signs of growing US economic output, with Treasury yields (^TNX ^TYX, ^FVX) also climbing. Many CEOs are following Tesla CEO Elon Musk's (TSLA) footsteps as the number of CEOs who have received annual compensation packages above $50 million has increased in recent years. For more expert insight and the latest market action, click here