Your Evening Briefing: The New Year Brings More Talk of Recession

While 2022 was the worst year for equities since the Great Recession, this one isn’t looking that great either—at least not right now. The recession many on Wall Street say will come this year would be one of the most anticipated ever, in part because more than a few have been predicting it since last summer. Bloomberg has now combed through 500 prognostications from top strategists, and the current consensus seems to be a mild downturn on both sides of the Atlantic in 2023. But the Federal Reserve has said there’s only a 50-50 chance of a recession and Goldman Sachs says a soft landing remains possible. When it comes to calling things like contractions and peak inflation, it seems nobody is getting it right. Here’s your markets wrap.

Tesla shares slid over 14%—the most since 2020—after the EV carmaker missed its third straight delivery estimate, despite offering hefty incentives in its biggest markets. The company opened two new assembly plants last year and still came up short of its goal to expand by 50%. A new analysis by Bloomberg reveals Tesla’s pricing secret.