US stock market had a slightly lower session this morning as the consumer sector continues to face pressure from large stocks, including Tesla and AT&T, after Q1 earnings report. Not only that, this year's revenue forecast from regional banks continues to look unpromising as interest rates remain high, although fears of contagion from the collapse of SVB and FRC are gradually fading. Cash flow luckily rotated to consumer defensive stocks, helping S&P500 find support around 411 and start recovering.
Earnings report from Tesla:
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