Tesla shares fall 4.5% ahead of first day in the S&P 500

Tesla Inc. shares fell 4.5% in premarket trading on Monday as the electric vehicle maker marks its trading debut on the S&P 500 Index.

Its shares have catapulted 731% this year in anticipation of the historic inclusion, making it the biggest company ever to be added to the benchmark. The EV pioneer will also be joining the S&P 100, replacing oil and gas firm Occidental Petroleum Corp., which fell 7.5% premarket.

“Welcome to the S&P 500 Club,” said Wedbush analyst Daniel Ives in a report. The index addition marks a “defining chapter of success” for the company he said.

Futures contracts on the S&P 500 were trading down 0.5%, following European stocks lower after several major countries moved to suspend travel from the U.K. amid concerns about a new strain of Covid-19.

Traders who spent most of the year pushing up shares of Tesla in anticipation of surging demand from … Read More

Hong Kong court rules mask ban constitutional for all public meetings By Reuters

HONG KONG (Reuters) – Hong Kong’s highest court on Monday ruled the city’s government had the right to invoke colonial-era emergency powers last year to ban the wearing of masks at all public processions and meetings during the height of 2019’s protests.

During the anti-government protests which have largely died down, many demonstrators wore masks to hide their identities from authorities and to protect themselves from tear gas.

Surgical masks have also long been common in the financial hub for when people are sick and the ruling comes at a time when Hong Kong people are mandated to wear masks to curb the spread of COVID-19.

The Court of Final Appeal went further than a lower-court decision in April which upheld the government’s right to impose emergency measures but ruled the mask ban was unconstitutional.

Opposition lawmakers and activists in the former British colony lodged a judicial review on the

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