The Presidential Daily Brief


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    Tesla Stock Jumps as Production Hits New Record

    Making good on a pledge by CEO Elon Musk, the electric carmaker delivered 95,200 vehicles during the second quarter, beating 2018’s fourth-quarter record of 90,700 and sending company shares up at least 6 percent in after-hours trading. Most of the boost, which Tesla attributed to “streamlining our global logistics and delivery operations,” was driven by the higher-than-expected production of 77,550 Model 3s.

    Why does it matter? The quarterly results could help soothe jittery investors, who watched Tesla stock slide 33 percent in the past year amid fears over sinking demand.

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