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Tesla Rebounds, PVH Soars, Newsmax Surges Again — Biggest Stock Movers to Watch

Tesla (TSLA) +2% Tesla shares bounced after a rough Monday, despite being down 36% in Q1 — the worst Q1 in company history. Investors are now eyeing its  Q1 delivery report  due Wednesday, with Street estimates hovering around  380,000 units . Analysts have been revising expectations lower amid backlash over Elon Musk’s role in Trump’s administration. Chinese EV Makers Up XPeng (XPEV) +1.6% : Delivered 33,205 vehicles in March — its fifth straight 30k+ month. NIO (NIO) +1.6%  and  Li Auto (LI) +1.4%  also gained on strong March deliveries. Nvidia (NVDA) -0.6% Still under pressure after a  19.3% Q1 drop , its worst since 2022. Investor worries over AI spending, tech valuation, and trade tensions are weighing heavily. Johnson & Johnson (JNJ) -5% Fell after a Texas judge  dismissed J&J’s third bankruptcy attempt  to settle talc-related lawsuits via Chapter 11. PVH Corp (PVH) +18.9% Shares surged after  Q4 earnings beat expectations ...
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Muni Bankers Lobby to Retain Tax Exemption for State and Local Government Debt

 Key Takeaways:

  1. Critical Tax Break at Risk: Public finance bankers are intensifying efforts to protect the tax-exempt status of state and local government debt. The Trump administration and Congress are considering proposals that could eliminate this tax break, which is essential for keeping municipal bond costs manageable for smaller issuers.

  2. Lobbying Efforts Intensify: The Bond Dealers of America (BDA), along with local governments and investors, are now reaching out to the Treasury Department and Trump administration officials, emphasizing the significance of the tax exemption in public finance and nationwide infrastructure development.

  3. Tax Exemption Importance: The tax-exempt status is seen as a key factor driving the municipal bond market, helping lower borrowing costs for local governments. Losing this benefit could make issuing bonds prohibitively expensive for smaller issuers, leading to reduced access to the market. In 2024, 65% of tax-exempt debt issues were below US$25 million, a crucial segment that could face difficulties without the exemption.

  4. Ongoing Lobbying Campaigns: The push to preserve the municipal bond tax break is part of ongoing efforts, including meetings with Congress and Treasury officials. The industry is working to ensure that decision-makers understand the potential negative impact on state and local governments, especially for smaller issuers.

  5. A Risk for Smaller Issuers: Without the tax exemption, smaller municipalities could lose their ability to access affordable financing, potentially stalling infrastructure projects. This is especially concerning as Congressnegotiates tax changes to fund the extension of Trump's 2017 tax cuts.

Market Insight: The push to keep the municipal bond tax exemption intact highlights its critical role in maintaining affordable borrowing costs for local governments. If removed, smaller issuers could struggle to tap into the municipal bond market, disrupting essential infrastructure projects across the country.

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