Tesla (TSLA) is the stock to watch this week as shareholders vote on the $56 billion compensation for Elon Musk.
Already, Norway’s $1.7 trillion sovereign wealth fund announced on Saturday that it plans to vote against ratifying the package.
A Delaware judge invalidated the package earlier this year. The fund holds a 0.98% stake in Tesla stock, which is worth around $8 billion.
Energy markets will get a boost after Berkshire (BRK-B) bought another 2.57 million shares in Occidental Petroleum. OXY stock closed below $60. Oil prices dipped last week despite the OPEC+ continued its pledge to curtail production.
Watch TLT and IEF stock today. Prices dipped after markets worried that the Federal Reserve would keep interest rates the same. More troubling is the Fed delaying a September rate hike. The Fed may have no choice. Prices continue to rise as the U.S. government increases spending on the military and infrastructure. Stocks like Lockheed Martin (LMT) and RTX (RTX) continue to trade close to their 52-week highs.
Watch CrowdStrike (CRWD), KKR (KKR), and GoDaddy (GDDY) today. The S&P 500 (SPY) will add them to the benchmark before markets open on June 24. They will replace Robert Half (RHI), Comerica (CMA), and Illumina (ILMN).
