Ford and Tesla are recalling pickup trucks due to safety concerns. Here’s what we know so far.
Transcript:
CONWAY GITTENS: Here’s what we’re watching on TheStreet today.
Stocks are coming off a mixed session with the S&P 500 bouncing back from a shaky start to the week thanks to a jump in Nvidia shares. Wall Street is looking ahead to earnings from Micron and how Chipotle fares after its 50-for-1 stock split took effect.
Investors are also looking ahead to Friday’s key inflation report—the PCE Price Index. The Federal Reserve pays the closest attention to this metric when it makes its decision on interest rates.
And in other news, two popular pickup trucks are being recalled.
Ford is recalling over 500,000 pickup trucks due to a transmission issue which could cause the truck to automatically downshift into first gear, increasing the risk of a crash. This recall affects certain 2014 F-150 trucks. The F-150 is the top-selling truck in the U.S.
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Meanwhile, Tesla is recalling over 11,000 Cybertrucks due to an issue with the windshield wiper and a plastic piece that could fly off the trunk bed. This marks the Cybertruck’s fourth recall since its release in November, with its most recent recall in April.
Recalls aren’t so rare for both Ford and Tesla. So far this year, the two automakers have recalled a combined 6 million vehicles.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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