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Q2 market open, Tesla prices, Disney proxy vote: 3 Things

Yahoo Finance

Stocks (^DJI, ^IXIC, ^GSPC) are looking for a cue as to how to start the second quarter of 2024 amid recent economic data.

Tesla (TSLA) will raise prices on its Model Y vehicles in both the US and Chinese auto markets.

Activist investor Nelson Peltz's proxy battle with Disney (DIS) is expected to come to a head this week as shareholders will vote on new board members on Wednesday, April 3, at the company's annual shareholders meeting.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

Editor's note: This article was written by Luke Carberry Mogan.

Video transcript

- Let's get right to it with the three things that you need to know, your roadmap for the trading day. Yahoo Finance's Josh Schafer, Pras Subramanian, and Madison Mills have more.

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- Hey, Brad. Stock futures searching for direction to kick off the first trading day of the second quarter. The major averages coming off a strong start to the year positioning-- or posting their best first quarter in five years. Investors are still digesting that latest inflation print from Friday showing moderating consumer prices, which could keep a mid-year interest rate cut on the table. But the highlight for this week, the jobs report will put the market rally to the test, and we'll be waiting for that one on Friday.

- Plus Tesla announces new price hikes, though not unexpected. The EV giant lifting prices of its popular Model Y vehicle in China, Europe, and the US ahead of its first quarter delivery report. Despite hot competition in regions like China, Tesla's price hikes come as analysts are revising their Q1 delivery forecasts lower.

- And Disney's proxy battle heating up the fate of Disney's board will be determined this week following activist investor Nelson Peltz's months battle for boardroom shakeup. Peltz currently seeking board seats for himself and former Disney CFO Jay Rasulo. The results of the shareholder vote are expected to be announced at Disney's annual shareholder and stockholder meeting on Wednesday, although it's possible last minute deal between the two sides could emerge even before then.