TheStreet's Conway Gittens brings the latest business headlines from the New York Stock Exchange as markets close for trading on Wednesday, May 8.
Related: Tesla Autopilot Recall Investigation Is Investigating Possible Securities and Wire Fraud
Full video transcript below:
CONWAY GITTENS: I'm Conway Gittens reporting from the New York Stock Exchange. This is what we are seeing today on TheStreet.
Wednesday was another mixed day on Wall Street. The Dow Jones has risen six days in a row, its longest winning streak of the year. But the S&P 500 fell slightly, as did the Nasdaq. Investors face a mix of earnings as well as speeches from Federal Reserve officials suggesting policymakers are in no rush to cut interest rates.
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Corporate results keep investors busy. Next up on Thursday's earnings calendar: Warner Brothers Discovery, Krispy Kreme and Yelp.
Moving on to one of the biggest stories of the day: Tesla is the subject of an investigation by the US Department of Justice and the Securities and Exchange Commission. Authorities are investigating whether Tesla engaged in securities or wire fraud by describing the functions of its Autopilot system, according to a Reuters report.
While Tesla has said that Autopilot will help with braking, changing lanes and turning, it cautioned that the technology should not be considered fully autonomous. But authorities are investigating statements made by Tesla and CEO Elon Musk that could have led investors and customers to believe that cars using Autopilot are fully autonomous.
Wire fraud is committed when a person or entity deceives customers in interstate communications. Securities fraud involves the act of deceiving investors.
Tesla is also under scrutiny by the National Highway Traffic Safety Administration. The agency is investigating the safety of Autopilot after numerous crashes, some fatal, involving Autopilot.
That will be enough for your daily report. From the New York Stock Exchange, I'm Conway Gittens of TheStreet.
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