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1. U.S. stock indexes closed mixed. The Dow Jones Industrial Average rose 0.29% to 51,712.71 points, the S&P 500 fell 0.37% to 7,472.79 points, and the Nasdaq Composite fell 1.32% to 26,166.6 points. Caterpillar rose more than 3%, and Amgen rose more than 2%, leading the Dow. The Wind U.S. Tech Big Seven Index fell 2.33%, with Google falling more than 5% and Amazon falling more than 4%. SpaceX fell more than 16%, wiping out $400 billion in market value and falling below its first-day closing price. 2. European stock indexes closed mixed. The German DAX rose 0.62% to 25,139.69 points; the French CAC40 fell 0.25% to 8,400.11 points; and the UK FTSE 100 rose 0.72% to 10,437.85 points. 3. US Treasury yields rose across the board. The 2-year Treasury yield rose 5.31 basis points to 4.226%, the 3-year Treasury yield rose 5.36 basis points to 4.246%, the 5-year Treasury yield rose 5.86 basis points to 4.287%, the 10-year Treasury yield rose 5.55 basis points to 4.509%, and the 30-year Treasury yield rose 4.97 basis points to 4.948%. 4. The most active US crude oil futures contract closed down 3.21% at $74.08 per barrel; the most active Brent crude oil futures contract fell 2.8% to $77.81 per barrel. 5. International precious metals futures generally closed higher. COMEX gold futures rose 0.88% to $4209.70 per ounce, and COMEX silver futures rose 0.42% to $65.19 per ounce. 6. Most London base metals rose, with LME zinc up 1.28% to $3,602.0/ton, LME nickel up 0.74% to $17,710.0/ton, LME copper up 0.56% to $13,671.0/ton, LME lead up 0.56% to $1,965.0/ton, LME tin down 0.11% to $53,235.0/ton, and LME aluminum down 1.07% to $3,360.0/ton.UK grid operator: Ample power supply expected this winter.June 23 - Asian stocks are poised for a higher open as market optimism about progress in US-Iran peace talks boosts oil prices, offsetting weakness in Wall Street stocks after declines in several tech giants dragged down benchmark indices. Stock index futures suggest gains in Sydney, Hong Kong, and Tokyo markets. SpaceX shares plunged 16% on Monday after announcing a large-scale investment-grade bond issuance. Market expectations of a US-Iran agreement, coupled with a recovery in AI trade and robust corporate earnings, have propelled the S&P 500 nearly 20% from its war-induced lows. UBSs Chief Investment Office stated that while geopolitical developments may remain a major source of market volatility in the short term, shifts in investor confidence regarding the sustainability of the AI rally could also cause market fluctuations.Air raid sirens have been issued in Kyiv, Ukraine, and the government is urging residents to seek refuge.June 23 – According to CNN, citing a source familiar with the matter, a large-scale layoff initiated by Bill Pulte, acting Director of National Intelligence appointed by US President Trump, began on Monday. The source stated, "The purge of the deep state has begun," but declined to specify the number of positions to be cut. Previously, sources indicated that Pulte was considering cutting hundreds of positions in the Office of the Director of National Intelligence (ODNI). The source said that Pulte arrived at his post the day before his official start date last week and requested a complete list of all office staff, a move that even caught outgoing Director of National Intelligence Gabbard off guard. Another source indicated that the National Counterterrorism Center and the National Counterintelligence and Security Center are expected to be the primary targets of the layoffs.

Tesla attempts to repeal Louisiana's ban on direct car sales

Skylar Williams

Aug 30, 2022 10:58

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Tesla Inc. (NASDAQ:TSLA) has filed a lawsuit contesting the state of Louisiana's refusal to let the company sell vehicles directly to consumers, arguing that the state's move is protectionist and anticompetitive.


This case is the most current effort to overturn direct sales bans in some states against the electric vehicle maker, who circumvented traditional car dealerships. Customers in these states must travel to neighboring states in order to purchase Tesla vehicles.


Tesla asserted that Louisiana officials violated state and federal antitrust laws by barring direct sales since 2017 and attempted to restrict leasing and servicing of the company's vehicles in the state.


The case, which was filed on Friday in the U.S. District Court for the Eastern District of Louisiana, alleges that "protectionist, anti-competitive, and ineffective state regulation excessively restricts the freedom of Louisiana consumers."


Tesla alleged that Louisiana dealers, the dealer association, and several Motor Vehicle Commission members engaged in an "illegal conspiracy" to prohibit the firm from conducting business in the state.


Tesla sued Michigan in 2016 over the state's restriction on direct sales and reached a settlement with the state in 2020 allowing Tesla's subsidiary to service vehicles in Michigan.