Good morning. Tesla stock fell hard yesterday, after poor earnings and vague guidance. The stock finished the day down 8 per cent, its biggest one-day drop since Elon Musk and President Donald Trump’s infamous break-up. Trump, right ahead of a controversial visit to the Federal Reserve, held out a peace offering, posting that he still wants Musk to “THRIVE”. The shares continued to fall. 

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US housing

Despite a recent rise in consumer confidence, the US housing market is — if you can believe it — getting worse. On Wednesday, we got the latest existing home sales number. They fell further, hovering near another 17-year low. New home sales are flagging, too: