Tesla Defies California Order

Tesla Motors (NASDAQ: TSLA) is re-opening its plant in California today.

The move defies an Alameda County order that restricts Tesla from operating the Tesla manufacturing line.

Tesla CEO Elon Musk took to Twitter to explain . . .

“Tesla is restarting production today against Alameda County rules. I will be on the line with everyone else. If anyone is arrested, I ask that it only be me.”

California’s governor has authorized local governments to manage the re-opening of manufacturing.

Meanwhile, Musk is growing impatient with the local government. The county has said that it hopes to develop a plan for re-opening by May 18.

Many CEOs and business owners across America are growing impatient with the government shutdown.

Most businesses are abiding by state and local mandates. Others are proceeding with “business as usual” in spite of the restrictions.

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White House Requires Face Masks

The White House is now requiring people to wear facemasks. President Trump and Vice President Pence are not planning to wear masks. Officials also requested that staffers avoid the West Wing unless their attendance is required.

Massachusetts Unveils 4-Step Plan

Gov. Charlie Baker of Massachusetts unveiled his plans for re-opening the state on May 18. Initially, the state will allow businesses without customer contact to re-open. Massachusetts has the  third-highest cases of any state – following New York and New Jersey.

California Inmates Trying to Get Infected

California reports that inmates at Los Angeles County jails are attempting to get Covid-19. The inmates are sharing bottles of water in an attempt to spread the virus. They believe that they may be released if they get infected.

New York Re-Opens 3 Regions

New York state is allowing a gradual re-opening of three regions. The regions are located in upstate New York – far away from the concentration of the outbreak in the New York City area. Initially, construction, manufacturing and curbside retail will begin operating again.

New $1 Trillion Stimulus

Republicans on Capitol Hill are starting work on another stimulus bill. This one is expected to top $1 trillion and include huge spending on infrastructure projects including 5G. Go here for the top All-American 5G stocks to BUY NOW.

The Coronavirus Numbers

Here are the numbers from Tuesday at 8:45 a.m. ET:

  • 4,282,366 Infected worldwide
  • 288,080 Deaths
  • 1,386,514 Infected in the U.S.
  • 81,852 Deaths in the U.S.

What’s Next

U.S. stock market futures pointed toward modest gains this morning.

The Dow and S&P 500 were each trading up 0.4% in the pre-market.

Over the last few weeks, the market has embraced the fact that an economic recovery is underway. Re-opening states across the country supports the view that things will begin getting better.

Meanwhile, new cases in Wuhan, China, and South Korea show the risks of re-opening. The number of new cases in both countries is modest and containable at this point.

Corporate earnings season is wrapping up over the next few weeks.

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