The SEC says Elon Musk violated his settlement. The Securities and Exchange Commission said Monday evening that Tesla CEO Elon Musk violated his settlement with a tweet about vehicle production targets and asked a judge to hold him in contempt of court.
Musk fires back at the SEC. “SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k,” he tweeted Monday evening. “How embarrassing …”
Stock markets around the world were lower. China’s Shanghai Composite (-0.67%) gave back a bit of Monday’s big gain, and Britain’s FTSE (-1.17%) trailed in Europe. The S&P 500 was set to open down 0.24% near 2,789.
Earnings reporting picks back up. Home Depot and Macy’s report ahead of the opening bell, while Toll Brothers and Weight Watchers release their quarterly results after markets close.
US economic data is heavy. Housing starts and building permits are set to be released at 8:30 a.m. ET before FHFA and Case-Schiller home prices cross the wires at 9 a.m. ET. Data concludes at 10 a.m. ET with consumer confidence. The US 10-year yield is little changed at 2.66%.