Fundamental analysis
20 April, 2021
U.S. stocks closed lower on Monday, slipping from last week’s record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc shares fell after a fatal car crash. The electric-car maker slid 3.4% after a Tesla vehicle believed to be operating without anyone in the driver’s seat crashed into a tree on Saturday north of Houston, killing two occupants. The S&P 500 was mostly lower, with Microsoft Corp, Amazon.com Inc and Nvidia Corp also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season. Corporate outlooks should indicate to what degree the rally from last year’s lows can continue. Analysts expect first-quarter earnings to have grown 30.9% from a year ago, according to Refinitiv IBES data. Coca-Cola Co rose 0.6% after the beverage maker easily beat estimates for quarterly profit and revenue, benefiting from the easing of pandemic curbs and wide vaccine rollouts.