Wall Street slips off record highs, Tesla drops after fatal crash – Reuters

Wall Street slips off record highs, Tesla drops after fatal crash – Reuters

U.S. stocks closed lower on Monday, slipping from last week's record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc (TSLA.O) shares fell after a fatal car crash.The electric-car maker slid 3.4% after a Tesla vehicle believed to be operating without anyone in the driver's seat crashed into a tree on Saturday north of Houston, killing two occupants. The stock was the biggest drag on the S&P 500 (.SPX) and Nasdaq Composite Index (.IXIC). An 8.4% drop over the weekend in bitcoin , in which Tesla has an investment, also weighed on its share price.The S&P 500 was mostly lower, with Microsoft Corp , Amazon.com Inc (AMZN.O) and Nvidia Corp (NVDA.O) also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season.Corporate outlooks should indicate to what degree the rally from last year's lows can continue. Analysts expect first-quarter earnings to have grown 30.9% from a year ago, according to Refinitiv IBES data.The U.S. economy is poised to boom as consumers hold $2 trillion in savings in excess of pre-pandemic levels, said Doug Peta, chief U.S. investment strategist at BCA Research, adding markets are