"Rolling Recession to a Rolling Recovery". -US Economy

The U.S. economy has shifted from a "rolling recession to a rolling recovery," causing performances of the indexes is improving and investors optimistically invest in preferred stocks. Energy, Technology, Automobiles, Aviation, Ecommerce, and pharmaceutical stocks were in trend last week and remain the same this week too. Since March of last year, the Federal Reserve has raised by five points and is likely to increase it by another 50 basis points by the end of this year. Despite this monetary tightening, the U.S. economy has not fallen into a recession. Instead, it has experienced what the analyst calls a "rolling recession to a rolling recovery".?

Automobiles

Tesla shares popped nearly 7% after the electric vehicle company posted second-quarter delivery and production numbers that topped Wall Street's expectations. Deliveries rose 83% year on year. Electric vehicle stocks rose broadly after Tesla posted stronger-than-expected production and delivery numbers for the second quarter. Rivian added 3.2%, while Fisker and Lucid gained more than 2% each.

Xpeng, U.S.-listed shares of the Chinese electric vehicle company popped about 7% after beating its delivery forecast and logging a 27% quarter-on-quarter increase following more than a year of declines. Other China-based EV stocks Nio, Li Auto rose more than 4% each on solid delivery numbers.

Technology

The iPhone maker's stock dipped 0.4% following a report that Apple plans to scale back Vision Pro headset production. Apple shares closed above a $3 trillion market cap on Friday.

Pharmaceutical?

Shares of the drugmaker fell 5.7% in premarket trading after AstraZeneca announced preliminary results for a phase three trial of a lung cancer treatment. Therefore, investors traded various drugmaker stocks.?

Aviation

The airline stock traded marginally higher before the bell even after the carrier bared the brunt of the flight delays occurring nationwide over the holiday weekend.

E-commerce/Internet stocks

Shares of China-based technology stocks gained before the bell, lifting the Krane Shares CSO China Internet ETF. Alibaba and JD.com shares gained 1.9%, 3.2%, and 3.1%, respectively. The gains came amid news that Treasury Secretary Janet Yellen is planning to meet with senior Chinese officials in Beijing later this week.

Energy stocks?

Energy stocks gained in premarket trading, lifted by a rise in oil prices after top exporters cut supply for August. Halliburton and ConocoPhillips added about 1% each. Chevron, Devon Energy, and Occidental Petroleum also moved higher.