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Dow Jones Futures: 5 Stocks Near Buy Points In Market Rally; Tesla FSD Beta Expands Widely

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Dow Jones futures rose slightly Thursday afternoon, along with S&P 500 futures and Nasdaq futures, with U.S. markets closed for the Thanksgiving Day holiday. Apple, Microsoft and Tesla are in the news.




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The stock market rally was positive for a second straight session on Wednesday. Fed officials see slower rate hikes coming “soon,” according to Fed minutes from the November meeting released Wednesday afternoon.

The Nasdaq led, buoyed by a rebounding Tesla (TSLA). The major indexes are all up solidly so far in this holiday-shortened week. But a longer holiday for the market rally could be constructive.

Investors should be cautious about adding exposure given key technical resistance and notable economic reports up ahead.

However, Dexcom (DXCM), UnitedHealth (UNH), Neurocrine Biosciences (NBIX), Medpace Holdings (MEDP) and Shockwave Medical (SWAV) are five health care stocks showing interesting action.

DXCM stock and Neurocrine Biosciences are on IBD Leaderboard, with MEDP stock on the Leaderboard watchlist. NBIX stock and Medpace are on the IBD 50.

Tesla FSD Beta Release

Tesla CEO Elon Musk tweeted Thursday that Full Self-Driving Beta is now available to any FSD owners in North America who request it.

That could allow Tesla to recognize more deferred revenue from FSD.

Despite its name, Full Self-Driving does not offer full self-driving, but is a Level 2 driver assist system. The National Highway Traffic Safety Administration is investigating Autopilot and FSD safety. The Justice Department reportedly is conducting a criminal probe of Tesla’s self-driving claims.

Tesla stock jumped 7.8% to 183.20 on Wednesday, rebounding from Tuesday’s bear market lows as Citigroup upgraded the EV giant from a sell to a hold. TSLA stock is still down 19.5% so far this month and has roughly halved in 2022.

Dow Stock Deal News

In Dow Jones stock news, Apple (AAPL) reportedly is interested in buying U.K. soccer giant Manchester United (MANU). The Federal Trade Commission may try to block the Microsoft (MSFT) deal to buy Activision Blizzard (ATVI) for nearly $69 billion.

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures advanced 0.2% and Nasdaq 100 futures climbed 0.4%.

Mainland China reported more than 31,000 Covid cases, including those without symptoms, topping the mid-April levels during the Shanghai lockdown.  Covid infections with symptoms are still below April peaks.

U.S. stock exchanges will be closed Thursday for the Thanksgiving Day holiday. On Friday, U.S. exchanges will close early at 1 p.m. ET. But other exchanges around the world are open normally on Thursday and Friday.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live

Stock Market Rally

The stock market rally had some wobbles Wednesday, but extended gains, led by techs.

Initial jobless claims rose to a three-month high while continuing claims hit an eight-month best. S&P Global’s purchasing managers indexes for U.S. manufacturing and services both signaled contraction.

The Fed minutes reinforced expectations of a 50-basis point rate hike at the Dec. 14 meeting. Markets still favor another half-point move in February, but there’s a decent chance of a quarter-point hike.

The Dow Jones Industrial Average rose 0.3% in Wednesday’s stock market trading. The S&P 500 index climbed 0.6%, led by TSLA stock. The Nasdaq composite popped 1%. The small-cap Russell 2000 edged up 0.1%.

U.S. crude oil prices tumbled 3.7% to $77.94 a barrel. Natural gas futures jumped 7.2%.

The 10-year Treasury yield sank 5 basis points to 3.71%. The two-year Treasury yield, more closely tied to the Fed rate hike outlook, dipped below 4.5%.

The U.S. dollar fell significantly for a second straight session, back near recent lows.

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ETFs

The iShares Expanded Tech-Software Sector ETF (IGV) climbed 1.5%. The VanEck Vectors Semiconductor ETF (SMH) gained 0.9%.

SPDR S&P Metals & Mining ETF (XME) edged up 0.3%. U.S. Global Jets ETF (JETS) nudged 0.1% higher. SPDR S&P Homebuilders ETF (XHB) climbed 0.5%. The Energy Select SPDR ETF (XLE) fell 1.1%. The Health Care Select Sector SPDR Fund (XLV) rose 0.4%. Dow Jones giant UNH stock is the top holding in XLV.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) popped 2.9% and ARK Genomics ETF (ARKG) 0.9%. TSLA stock is a major holding across Ark Invest’s ETFs.

Five Best Chinese Stocks To Watch Now

Stocks To Watch

Dexcom stock advanced 1.7% to 112.92, finding support at the 21-day moving average. DXCM stock has been pausing this month after gapping up on earnings on Oct. 28. Dexcom stock arguably has a long handle with a 123.46 buy point from a seven-month consolidation. Investors could buy DXCM stock from an early entry off the 21-day line, perhaps using Tuesday’s high of 113.88 as a specific buy point.

Medpace stock fell 1.3% to 218.81 on Wednesday. Shares have been consolidating near record highs since skyrocketing 38% on Oct. 25 following earnings. Since then, MEDP stock has been forging a messy handle on a deep, yearlong cup base. While shares have had some big intraday swings, MEDP stock is currently on track to forge a three-weeks-tight pattern by Friday’s close. Investors might use the Nov. 15 close of 226.57 as an early entry, above the bulk of recent trading.

NBIX stock sank 1.5% to 118.97. Shares are consolidating near multiyear highs, extended from an October breakout. Despite a plunge to the 50-day line last week, Neurocrine stock has a three-weeks-tight pattern that’s on track to go for a fourth week. Technically, that has a 126.09 buy point, though investors may want to wait for some quieter action.

Shockwave stock popped 4.7% to 264.06 on Wednesday, back above its 21-day line but hitting resistance at the 50-day line. After a failed breakout in late October and sharp sell-off that continued through earnings, SWAV stock has bounced back over the past week. A new base will take more time, but aggressive investors could use a strong move above the 50-day as an early entry.

UNH stock climbed 1.3% to 529.71, rebounding above its 50-day and 21-day lines after briefly undercutting its 200-day line last week. UnitedHealth stock used to be an IBD Long-Term Leader and still shares many characteristics. Investors could use a bounce from the 50-day line as either an early entry or a Long-Term Leader entry. UNH stock needs to forge a new base after a breakout from a cup-with-handle base quickly failed last month.

Tesla Vs. BYD: Which EV Giant Is The Better Buy?

Market Rally Analysis

The stock market rally added to Tuesday’s gains. The S&P 500 just topped its Nov. 15 intraday high and closed within 1% of its 200-day line.

The Russell 2000 came right up to its 200-day line.

The Nasdaq added to Tuesday’s rebound from the 21-day moving average, though it’s still below its Nov. 15 short-term high and well below its 200-day.

The Dow Jones came within 20 points of its Aug. 16 intraday high.

The S&P 500 moving decisively above its 200-day line — which coincides roughly with a yearlong declining-tops trendline — is a huge test for the market rally.

A slew of economic data could swing Fed rate expectations and thus the stock market. On Wednesday, Nov. 30, the October JOLTS report will show job openings, with Fed chief Jerome Powell speaking later in the day. On Thursday, the PCE price index, the Fed’s favorite inflation gauge, will be released, along with jobless claims and the ISM manufacturing index. The November jobs report is due on Friday, Nov. 2.

Ideally, the market would move sideways for a few days, letting at least the 21-day line catch up, heading into those economic reports.

Time The Market With IBD’s ETF Market Strategy

What To Do Now

The market rally has shown some nice gains this week, with more stocks flashing buy signals in the past few days. Investors could have added a little more exposure as a result.

But they may want to be cautious about making significant new buys with the S&P 500 hovering below its 200-day line and so much Fed-critical economic due next week.

Also consider taking some partial profits in stocks that run up quickly. Stocks have been making short-lived advances amid a choppy uptrend and sector rotation.

Still, investors should be working hard on their investing shopping lists, looking for set ups and actionable names across a variety of sectors.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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Business

Tesla Sued To Hold Elon Musk ‘Accountable’ For ‘Misleading And Deceptive Statements’ On Autopilot, FSD – Tesla (NASDAQ:TSLA)

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A California-based Tesla Inc TSLA owner has sued the electric carmaker, saying that the company and its CEO Elon Musk are “deceptively and misleadingly” marketing the Autopilot and “Full Self-Driving” software. 

Tesla owner Briggs Matsko has said that he paid a $5,000 premium for his 2018 Tesla Model X to get ‘Enhanced Autopilot’, which was sold as a precursor to FSD software that now costs $15,000 but is still in the Beta phase.

According to the lawsuit, since 2016, Tesla and Musk deceptively advertised the technology as fully functioning or “just around the corner” despite knowing that the technology did not work or was non-existent and made vehicles unsafe.

The lawsuit filed in U.S. federal court in San Francisco seeks unspecified damages for people who, since 2016, bought or leased Tesla vehicles with Autopilot, Enhanced Autopilot, and Full Self-Driving features.

“Plaintiff brings this consumer class action lawsuit to hold Tesla and its representatives, including CEO Elon Musk, accountable for years of making misleading and deceptive statements regarding the company’s advanced driver assistance systems (ADAS) technology,” reads the lawsuit. 

Also Read: Why This Tesla Driver Paid $400 To Implant Car Key Into His Right Hand: ‘It Comes In Handy’

Tesla has come under heavy scrutiny for the controversial Autopilot advanced driver assistance system. Last month, the Department of Motor Vehicles (DMV) in California accused Musk-run Tesla of running fake claims about its Autopilot and FSD features.

The lawsuit claimed, “Tesla has deceptively and misleadingly marketed its ADAS technology as autonomous driving technology under various names, including ‘Autopilot,’ ‘Enhanced Autopilot,’ and ‘Full Self-Driving Capability,’ the latter two of which Tesla charges consumers thousands of additional dollars to add to their new vehicle.”

According to Tesla, Autopilot enables vehicles to steer, accelerate and brake within their lanes, while Full Self-Driving lets vehicles obey traffic signals and change lanes. 

It also said both technologies “require active driver supervision,” with a “fully attentive” driver whose hands are on the wheel, “and do not make the vehicle autonomous.”

Photo: georgemoga on flickr

 

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Business

Elon Musk says Tesla will raise price of FSD by 25% in September

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Tesla CEO Elon Musk on Sunday announced a 25% price increase for the company’s premium driver assistance system, which is marketed under the name Full Self-Driving, or FSD. The price will increase to $15,000 from $12,000 on Sept. 5, Musk said in a tweet.

Today, Tesla charges customers $12,000 upfront for FSD, or $199 per month on a subscription basis.

Musk did not immediately mention an increase in the cost of FSD subscriptions and Tesla did not respond to a request for further information.

All new Tesla vehicles come with a standard driver assistance package called Autopilot, which includes features like “Traffic-Aware Cruise Control” and “Autosteer.” These rely on cameras, other sensors, hardware and software to automatically keep a Tesla vehicle centered in its lane and traveling at the speed of surrounding traffic.

Tesla’s highest-priced driver assistance option, FSD, includes what the company calls “Traffic and Stop Sign Control” and “Navigate on Autopilot” among its features.

These more advanced features are intended to let Tesla cars automatically detect and slow down for traffic signs and signals; navigate from highway on-ramp to off-ramp while engaging turn signals; make lane changes and take exits.

Tesla tells drivers to remain attentive and be prepared to take over their cars’ steering and braking at any time while using Autopilot or FSD. Its technology does not make Tesla vehicles autonomous.

One Tesla feature called Smart Summon allows drivers to use a smartphone and Tesla mobile app like a remote control to call their car from across a parking lot and slowly drive, without anyone behind the wheel, to where they are standing.

While some FSD features are also included in a lower-priced option called Enhanced Autopilot, or EAP, only Tesla customers who buy or subscribe to the premium option can request access to FSD Beta, an experimental version of Tesla’s system.

FSD Beta users are supposed to obtain a high “Safety Score” from Tesla to get and maintain access to the system.

Tesla’s approach has drawn criticism and regulatory scrutiny from the National Highway Traffic Safety Administration and the California Department of Motor Vehicles alike.

Still, the company is forging ahead and doing a limited release of the latest version of FSD Beta, to a relatively small pool of users, Musk also tweeted on Sunday.

Earlier, he wrote on Twitter, “There are many major code changes, so this will be an extra cautious rollout. Releasing on 8/20 to ~1000 Tesla owners, then 10.69.1 next week to accommodate feedback & release to ~10k customers, then 10.69.2 week after & release to rest of FSD Beta.”

Owners who gain access to FSD Beta are able to send feedback to the company via their cars when the system fails or acts glitchy. Tesla previously said 100,000 drivers had already installed FSD Beta.

Tesla is planning to make FSD Beta even more mainstream.

At the Tesla 2022 Annual Shareholder Meeting on August 4, Musk said that FSD Beta will be available to anyone who requests it by the end of this year. Here’s a quote from Thomson Financial’s transcript of the meeting: 

“We’re still tracking very much to have widespread deployment of FSD Beta this year in North America. So I should say basically, FSD will be available to anyone who requests it by the end of this year.”

Among those who are receiving the limited-release update this weekend are widely followed social media influencers who sell Tesla merchandise and run ad-supported videos on YouTube channels where they review Tesla’s latest releases and more.

Since 2016, the NHTSA has opened 38 probes into collisions that involved a Tesla vehicle where driver assistance systems including Autopilot and more advanced systems were thought to be a factor. Nineteen fatalities were reported as part of those Tesla-involved collisions under investigation.

Separately, California’s DMV recently accused Tesla of deceptive marketing practices with regard to the features in its vehicles, and it is conducting a technical review of Tesla’s systems including FSD Beta.

Ashok Elluswamy, Tesla’s director of Autopilot software, said on Twitter this weekend that “Autopilot prevents ~40 crashes /day where human drivers mistakenly press the accelerator at 100% instead of the brakes.” Tesla generally does not make data about its systems available to third-party researchers for confirmation of its claims.



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Business

YouTube removes video by Tesla investors using kids in FSD Beta test

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Tesla Model 3

Source: Tesla

YouTube has removed a pair of videos from its platform which showed Tesla drivers conducting amateur vehicle safety tests using their own children in place of mannequins in the road or the driveway.

The tests were to determine if a slow-moving Tesla equipped with the company’s latest driver assistance systems would automatically avoid colliding with pedestrians — in this case children — walking or standing still in the road.

After CNBC reached out, a YouTube spokesperson, Elena Hernandez, wrote in an e-mail Friday night:

“YouTube doesn’t allow content showing a minor participating in dangerous activities or encouraging minors to do dangerous activities. Upon review, we determined that the videos raised to us by CNBC violate our harmful and dangerous policies, and as a result we removed the content.”

The specific policy that YouTube cited is pertaining to harmful and dangerous content. The company removes videos that encourage dangerous or illegal activities that risk serious physical harm or death when it is aware of them. The spokesperson said, “Specifically, we don’t allow content showing or encouraging minors in harmful situations that may lead to injury, including dangerous stunts, dares, or pranks.”

Tesla markets its driver assistance systems in the U.S. as a standard package called Autopilot and a premium option called Full Self-Driving (or FSD) that costs $12,000 up front or $199 per month. It also offers some drivers access to an experimental program called Full Self-Driving Beta if they attain a high score on the company’s in-vehicle safety tests.

None of these systems make Tesla cars self-driving, nor safe to use without a driver behind the steering wheel, attentive to the road and able to steer, brake, or accelerate on short notice. Tesla’s owners manuals caution drivers that the systems do not make their cars autonomous.

Driver: ‘I was prepared to take over at any time’

In a video posted on Sunday August 14th, a Tesla owner and investor in the Elon Musk-led company, Tad Park, drove a Model 3 vehicle at eight miles per hour towards one of his children on a road in the San Francisco Bay Area.

The video had tens of thousands of views before YouTube, a division of Alphabet’s Google, removed it. Alphabet also owns Waymo, the autonomous vehicle technology developer and robotaxi operator.

Park is the CEO of Volt Equity, and portfolio manager of an autonomous driving technology focused ETF called VCAR. “I have experienced the product myself, and believe in my investments,” Park told CNBC. “We did extensive safety precautions so that kids were never in danger.” 

In a follow-up email, Park wrote, “First we tried on a mannequin, then we tried with a tall basketball player, then finally one kid stood and my other kid crossed the street.”

He said the car was never traveling more than eight miles an hour, and explained, “We made sure the car recognized the kid. Even if the system completely failed, I was prepared to take over at any time. I had a sense of when I was going to need to brake if the car was not sufficiently slowing down.”

Park conducted the tests in part as a rebuttal against a national advertising campaign from software company founder Dan O’Dowd criticizing Tesla’s driver assistance features.

The video, now removed, was posted on a YouTube channel named Whole Mars Catalog, which is run by Omar Qazi, a shareholder and major promoter of Tesla on social networks. Tesla CEO Elon Musk frequently interacts with the blog and Qazi on Twitter.

In addition to YouTube, CNBC reached out to the California DMV and National Highway Traffic Safety Administration to ask whether such videos are safe or legal.

NHTSA said on Aug. 16, “NHTSA advises the public that it could be highly dangerous for anyone to attempt to test vehicle technologies on their own. No one should risk their life, or the life of anyone else, to test the performance of vehicle technology.” 

The agency also noted, “As NHTSA has stated consistently, no vehicle available for purchase today is capable of driving itself. The most advanced vehicle technologies available for purchase today provide driver assistance and require a fully attentive human driver at all times performing the driving task and monitoring the surrounding environment.”

The California DMV told CNBC via email: “As advanced vehicle technologies become more widely available, DMV shares the same concerns as other traffic safety stakeholders about the potential for driver misunderstanding or misuse of these features. DMV has previously indicated to Tesla and continues to emphasize the importance of providing clear and effective communication to customers, buyers and the general public about the capabilities, limitations and intended use of any vehicle technology.”

The California DMV recently alleged that Tesla is engaging in deceptive marketing or false advertising where its driver assistance systems are concerned. It is also in the midst of a lengthy safety related review of Tesla’s technology including FSD Beta.

Police in the town where Park conducted the test drive did not respond in time for publication. Tesla did not immediately return a request for comment.



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California DMV says Tesla FSD, Autopilot marketing deceptive

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Brand new Tesla cars sit in a parking lot at a Tesla showroom on June 27, 2022 in Corte Madera, California. 

Justin Sullivan | Getty Images News | Getty Images

The California Department of Motor Vehicles has accused Tesla of engaging in deceptive practices around the marketing of its driver assistance systems, which are branded Autopilot and Full Self Driving in the U.S., according to filing with a state administrative agency.

Elon Musk’s electric car business risks more than its reputation — in a worst-case scenario, the company could temporarily lose the licenses which allow it to operate as a vehicle manufacturer and auto dealer in California.

In a pair of July 28 filings with California’s Office of Administrative Hearings, an official and attorneys for the DMV wrote:

“Instead of simply identifying product or brand names, these ‘Autopilot’ and ‘Full Self-Driving Capability’ labels and descriptions represent that vehicles equipped with the ADAS features will operate as an autonomous vehicle, but vehicles equipped with those ADAS features could not at the time of those advertisements, and cannot now, operate as autonomous vehicles.”

California DMV’s Deputy Director for the Office of Public Affairs, Anita Gore, told CNBC via e-mail that if the department prevails, it “will ask that Tesla will be required to advertise to consumers and better educate Tesla drivers about the capabilities of its ‘Autopilot’ and ‘Full Self-Driving’ features, including cautionary warnings regarding the limitations of the features, and for other actions as appropriate given the violations.”

Gore noted that this action pertains to Tesla’s marketing and advertising practices around Autopilot and FSD only. The California DMV is conducting a separate safety review of “the intended design and technological capabilities of Tesla vehicles,” to determine if they can be used on public roads without a special permit.

The DMV, Gore said, wants to prevent driver misunderstanding and misuse of new vehicle technologies.

The Los Angeles Times previously reported on the DMV’s filings to the administrative body.

Tesla has fifteen days to respond to the accusations before the administrative court, otherwise the DMV will take a default decision.

Tesla includes its Autopilot driver assistance features in all its newly manufactured cars, and sells a premium FSD (or Full Self Driving) option for $12,000 up-front or on a subscription basis for $199 per month. Sometimes, the company sells an Enhanced Autopilot option with a portion of the premium features included.

Elon Musk’s electric vehicle maker also allows drivers to test unfinished driver assistance features on public roads in the U.S. through a program called FSD Beta (or Full Self Driving Beta).

Only Tesla owners who have the company’s premium FSD system installed can participate in FSD Beta. Owners must obtain a high driver-safety score, as determined by Tesla software that monitors their driving, then maintain it to keep using FSD Beta. The company said it has rolled out FSD Beta access to more than 100,000 drivers already, most in the U.S.

Automakers, including Tesla, are now required to report significant collisions involving advanced driver-assist systems to the The National Highway Traffic Safety Administration.

Tesla vehicles comprised around 70%, or more than 270, of reported crashes involving these systems between June 2021 and July 2022, according to federal figures released in early July. The data isn’t meant to indicate which carmaker’s systems might be safest.

NHTSA has also initiated at least 37 special crash investigations into collisions that involved Tesla vehicles where the company’s driver assistance systems were thought to be a factor. At least 17 fatalities resulted from those collisions that inspired NHTSA special crash investigations.

NHTSA has also opened an evaluation of Tesla’s Autopilot technology to confirm whether it is defective and needs to be recalled, after a string of crashes in which Tesla vehicles struck emergency responder vehicles that were standing still.

Read the California DMV’s formal accusations against Tesla here and here.

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Tesla FSD Beta 10.11 release notes tease critical improvements

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The release notes for Tesla’s Full Self-Driving Beta v10.11 hint at a number of critical improvements for the advanced driver-assist software. Tesla FSD Beta 10.11 is rolling out to Tesla employees for the time being. However, if the system performs well, external users should receive the update within the coming days. 

There are several notable improvements outlined in FSD Beta v10.11’s release notes. Tesla stated that V10.11 utilizes more accurate predictions of where other vehicles are turning or merging, reducing unnecessary slowdowns. The company also stated that V10.11 should improve vehicles’ right-of-way understanding, which should be invaluable in scenarios when maps turn out to be inaccurate.

More importantly, FSD Beta V10.11 featured specific improvements for vulnerable road users (VRU). Tesla notes that the most recent version of FSD Beta should improve VRU detection by 44.9%, allowing the system to dramatically reduce “spurious false positive pedestrians and bicycles.” The company was able to accomplish these VRU improvements by increasing the size of its next-generation labelers. 

Following are FSD Beta v10.11’s release notes. 

Early Access Program | FSD Beta 10.11 

– Upgraded modeling of lane geometry from dense rasters (“bag of points”) to an autoregressive decoder that directly predicts and connects “vector space” lanes point by point using a transformer neural network. This enables us to predict crossing lanes, allows computationally cheaper and less error-prone post-processing, and paves the way for predicting many other signals and their relationships jointly and end-to-end. 

– Use more accurate predictions of where vehicles are turning or merging to reduce unnecessary slowdowns for vehicles that will not cross our path. 

– Improved right-of-way understanding if the map is inaccurate or the car cannot follow the navigation. In particular, modeling intersection extents is now entirely based on network predictions and no longer uses map-based heuristics. 

– Improved the precision of VRU detections by 44.9%, dramatically reducing spurious false positive pedestrians and bicycles (especially around tar seams, skid marks, and rain drops). This was accomplished by increasing the data size of the next-gen auto-labeler, training network parameters that were previously frozen, and modifying the network loss functions. We find that this decreases the incidence of VRU-related false slowdowns. 

– Reduced the predicted velocity error of very close-by motorcycles, scooters, wheelchairs, and pedestrians by 63.6%. To do this, we introduced a new dataset of simulated adversarial high-speed VRU interactions. This update improves autopilot control around fast-moving and cutting-in VRUs. 

– Improved creeping profile with higher jerk when creeping starts. 

– Improved control for nearby obstacles by predicting continuous distance to static geometry with the general static obstacle network. 

– Reduced vehicle “parked” attribute error rate by 17%, achieved by increasing the dataset size by 14%. 

– Improved clear-to-go scenario velocity error by 5% and highway scenario velocity error by 10%, achieved by tuning loss function targeted at improving performance in difficult scenarios. 

– Improved detection and control for open car doors. 

– Improved smoothness through turns by using an optimization-based approach to decide which road lines are irrelevant for control given lateral and longitudinal acceleration and jerk limits as well as vehicle kinematics. 

– Improved stability of the FSD Ul visualizations by optimizing the ethernet data transfer pipeline by 15%.

Tesla FSD Beta v10.11 will likely be released as software version number 2022.4.5.15, as per reports from the online electric vehicle community. Tests of v10.11’s performance in real-world roads are typically shared by members of the company’s FSD Beta program within hours of the system’s wide release. 

The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at [email protected] or via Twitter @Writer_01001101.

Tesla FSD Beta 10.11 release notes tease critical improvements








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Elon Musk says Tesla will raise price of ‘FSD’ to $12,000 in US

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A Tesla Model Y electric vehicle is dispalyed on a showroom floor at the Miami Design District on October 21, 2021 in Miami, Florida.

Joe Raedle | Getty Images

On Friday, Tesla CEO Elon Musk announced on Twitter that the company will raise the price of its premium driver assistance package, marketed as Full Self-Driving or FSD, from $10,000 to $12,000 on January 17, for customers in the U.S. only.

In a series of posts on Twitter, where he has 69.2 million followers, Musk wrote, “Tesla FSD price rising to $12k on Jan 17. Just in the US. FSD price will rise as we get closer to FSD production code release.”

When a follower asked him about Tesla’s FSD subscription product (which currently costs $199 per month for most customers) Musk noted, “Monthly subscription price will rise when FSD goes to wide release.” He also teased a new release of FSD Beta, an invitation-only program which offers more advanced features to select drivers who meet Tesla’s qualifications.

Tesla does not disclose in its earnings reports exactly how many of its customers pay for FSD up-front or subscribe to FSD each quarter. So it’s not clear how much a price hike in the U.S. could bolster its margins in the future.

The company’s standard driver assistance package is marketed as Autopilot and comes standard with all its new vehicles (the Model S, X, Y and 3).

Autopilot functionality includes but is not limited to automatic emergency braking, forward collision warning, lane keeping and adaptive cruise control, which basically matches the speed of your car to that of the surrounding traffic, according to Tesla’s website.

Tesla’s Full-Self Driving option, also known as FSD, is a premium package that includes the Autopilot functions, and more sophisticated features like automatic lane-changing, stop light recognition, and “smart summon” which lets drivers call their car from a parking spot to come pick them up, using their smartphone and the Tesla app like a remote control. Despite the name, it does not today allow cars to drive themselves automatically with no driver intervention.

Separately, there’s also an FSD Beta tier, which includes even more advanced features.

Musk said in a tweet on Friday that a new 10.9 release, updating FSD Beta, is nearing completion.

Only drivers who receive, purchase or subscribe to FSD and receive high marks in a “safety score” from Tesla, can get access to FSD Beta. Once they’re in, they can test unfinished features like “autosteer on city streets,” which Tesla says will eventually enable drivers to navigate around residential and urban surface streets, avoiding all obstacles, without having to steer on their own. 

The California Department of Motor Vehicles and National Highway Traffic Safety Administration are investigating different aspects of Tesla’s FSD development and technology.

Tesla has told both agencies that its technology is only a “level 2” system. By the DMV’s definition, “Level 2 systems may enhance safety or provide driver assistance but are not capable of driving or operating the vehicle without the active physical control or monitoring of a human.”

But Musk has implied the company’s technology is more advanced than level 2. In an interview published on December 28, 2021, YouTuber Lex Fridman asked Musk, “When do you think Tesla will solve Level 4 FSD?” Musk replied, “It’s looking quite likely that it’ll be next year,” meaning 2022.

Tesla has been promising self-driving cars since around 2016 but the company still hasn’t demonstrated the hands-free drive across the US that Elon Musk said would be possible by the end of 2017.

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Tesla Halts Rollout of FSD Beta to Drivers, Citing Concerns

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Photo: Justin Sullivan (Getty Images)

A planned rollout of Tesla’s Full Self-Driving beta version 10.2 to roughly 1,000 Tesla owners with “perfect” safety scores was delayed on Saturday. In explaining the delay, CEO Elon Musk stated that there were “a few last-minute concerns about the build.”

Tesla owners were abuzz with excitement earlier this week when Musk announced that roughly 1,000 drivers with perfect safety scores—the 0 to 100 scale the company uses to determine whether the driver will have a future accident—would receive FSD beta version 10.2 at midnight on Friday. Contrary to its name, the software does not allow Tesla cars to drive themselves. It provides assistance on highways and city streets but requires driver supervision at all times.

As with all Musk deadlines, this one was taken with a grain of salt. In the end, Tesla didn’t rollout FSD.

“A few last minute concerns about this build. Release likely on Sunday or Monday. Sorry for the delay,” the CEO tweeted early Saturday.

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Musk didn’t detail what last-minute concerns had caused the delay. However, hearing that FSD 10.2 has issues isn’t a surprise. Just about two months ago, Tesla said that FSD beta version 9, which was delayed for years, could “do the wrong thing at the worst time.”

Tesla’s initial plan consisted of releasing version 10.2 to about 1,000 drivers with a 100/100 score and analyzing how they did with the software for several days. If the release looked good, Musk explained, 10.2 would gradually begin rolling out to drivers with scores of 99 and below. The FSD system has been operated by 2,000 drivers for almost a year with no accidents, the CEO said in September, adding that it needed to stay that way.

“FSD beta system at times can seem so good that vigilance isn’t necessary, but it is. Also, any beta user who isn’t super careful will get booted,” Musk said at that time.

According to Tesla’s website, a driver’s safety score is based on five metrics called “safety factors,” which are: forward collision warnings per 1,000 miles, hard braking, aggressive turning, unsafe following, and forced Autopilot disengagement. A higher score indicates a safer driver, the company claims, with most drivers expected to have a safety score of 80 and above.

Tesla has recently come under fire from regulators such as the National Transportation Safety Board. The head of agency, Jennifer Homendy, told the Wall Street Journal in September that the company shouldn’t release the newest FSD beta until it addressed safety deficiencies in its technology.



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Business

Dow Jones Futures: Market Rally, These 5 Stocks At Inflection Points; Tesla FSD Beta Opens Up

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Dow Jones futures open Sunday evening along with S&P 500 futures and Nasdaq futures. A stock market rally attempt is underway, but the major indexes all hit resistance at key levels as Treasury yields continue to climb. Tesla (TSLA) once again will be in the headlines over the week.




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The stock market rally is at an inflection point. The major indexes need to get above their resistance levels and follow through to confirm the new rally attempt.

Microsoft (MSFT), Nvidia (NVDA), Sea Limited (SE), Fortinet (FTNT) and Google parent Alphabet (GOOGL) all rebounded last week to around their 50-day moving averages. Except for perhaps, Nvidia stock, they could be considered actionable in a confirmed market rally. But investors neglect the “M” in CAN SLIM at their peril

Meanwhile, Tesla FSD Beta will start to open up to more Full Self-Driving owners at Friday midnight, according to CEO Elon Musk. Tesla also will hold an event at its Berlin factory on Saturday, with questions about when that plant will be operational. Tesla stock is holding in a buy zone.

Tesla, Google and Microsoft stock are on IBD Leaderboard. SE stock is on SwingTrader. Microsoft, Google and FTNT stock are on IBD Long-Term Leaders. Google stock is on the IBD 50.

The video embedded in the article analyzed the market rally attempt and reviewed Google, Microosft, Nvidia stock and Doximity (DOCS).

Dow Jones Futures Today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live

Coronavirus News

Coronavirus cases worldwide reached 237.96 million. Covid-19 deaths topped 4.85 million.

Coronavirus cases in the U.S. have hit 45.12 million, with deaths above 732,000.

Stock Market Rally Last Week

The stock market rally attempt rebounded from Monday’s lows, then hit resistance late in the week.

The Dow Jones Industrial Average rose 1.2% in last week’s stock market trading. The S&P 500 index climbed 0.8%. The Nasdaq composite edged up 0.1%. The small-cap Russell 2000 dipped 0.3%.

The 10-year Treasury yield is at 1.605%, the highest in four months. The 10-year yield jumped 14 basis points last week, the seventh straight weekly gain and the biggest advance since the week ended Feb. 19. That February spike coincided with the Nasdaq top.

ETFs

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) fell 0.9% last week, after tumbling 8.7% in the prior week. The Innovator IBD Breakout Opportunities ETF (BOUT) rose 1.8%.  The iShares Expanded Tech-Software Sector ETF (IGV) dipped 0.2%, with MSFT stock a major component and Fortinet also a holding. The VanEck Vectors Semiconductor ETF (SMH) retreated 0.7% with Nvidia stock a key member.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) dipped 0.5% and ARK Genomics ETF (ARKG) tumbled 4%. Tesla stock remains the top holding across ARK Invest’s ETFs.

SPDR S&P Metals & Mining ETF (XME) edged up 0.1% and Global X U.S. Infrastructure Development ETF (PAVE) climbed just over 1%. U.S. Global Jets ETF (JETS) slumped 3.7%. SPDR S&P Homebuilders ETF (XHB) rose 0.7%. The Energy Select SPDR ETF (XLE) surged 5.1% and the Financial Select SPDR ETF (XLF) popped 2.3%.

Five Best Chinese Stocks To Watch Now

Tesla FSD Beta Opens Up

At Friday midnight, Tesla FSD Beta will add 1,000 Full Self-Driving owners, starting with those who had perfect 100 scores on a safety test measuring their driving ability by various metrics. It’ll continue to add FSD owners and subscribers over several days, at least for several days.

Tesla will also release FSD Beta 10.2 Friday night.

Meanwhile, a Tesla Berlin event on Saturday could drop hints or actual forecasts as to when that facility will be operational. Musk made comments over the summer that were interpreted as meaning that production could begin as soon as October, but he may have been referring to regulatory approval. It’s not clear that the factory is close to being finished.

FSD Beta and the Berlin factory are key to the Tesla growth story, especially with no new vehicles or new substantial markets planned in 2022.

A successful FSD Beta could be a continued money-spinner and brand-builder for Tesla. But if FSD drivers become complacent and several accidents occur, that could damage the brand and risk a regulatory response. Meanwhile, the Berlin and Austin plants will substantially boost Tesla capacity. The question is: Will there be enough demand, especially as overall auto production slowly recovers from chip woes and a slew of new EV rivals enter the U.S. market?

Tesla stock rose 1.3% to 785.49 last week, the seventh straight weekly gain. Shares are in buy range from a 764.55 handle buy point.

Google Stock

Google stock rebounded from Monday’s lows to close just above its 50-day moving average but below its 10-week line. It’s also right at a trend line. The relative strength line is just below record highs after a strong run. In a confirmed market rally, this would probably be an early entry within its flat base. The official buy point is 2,925.17, according to MarketSmith analysis. But if the market rally flops, Google is likely to come under pressure. The good news is that it probably won’t crash like some highfliers.

Nvidia Stock

Nvidia stock came up to its 50-day line on Thursday, but has edged back a little bit. It likely needs the market to pick up steam to make a real run. If the stock market rally does follow through and Nvidia breaks above its 50-day line and trend line, it’ll be actionable. It’s working on a new consolidation that will be an official base after one more week.

SE Stock

Sea Limited, which had pulled back to its 50-day line in late September, held up well in Monday’s market sell-off. On Thursday, SE stock rebounded above its 21-day line, hitting a trend line, but closed near session lows. On Friday, it reversed lower, back to just above its rising 50-day but below its 10-week line. If SE stock can get above Thursday’s high in a healthy market, that would be actionable. It also has a flat base on a weekly chart with a 359.94 buy point.

Fortinet Stock

FTNT stock pulled back to below its 50-day line in late September, but after a long run. Shares bounced from its 50-day and above a trend line on Thursday, then edged lower Friday. Investors likely should wait for the market rally to show more strength and use Thursday’s high of 313.24 as an entry. FTNT also has a new flat base with a 322.10 buy point.

Microsoft Stock

The Microsoft stock chart looks a lot like Google’s. MSFT stock is just above its 50-day average and just below its 10-week line, sitting on a trend line. It boasts a 305.94 flat-base buy point.

Market Rally Analysis

The stock market rally attempt is at an inflection point. After Monday’s sell-off, the major indexes rebounded. The market was looking oversold on Monday, so a bounce for a couple of days wasn’t a surprise. But the real trick is whether or not big institutions will commit to this new market rally, which is why a follow-through day is key.

So the major indexes rose on Tuesday, Wednesday and Thursday, but then stalled Friday as rising Treasury yields took their toll. The Dow Jones and S&P 500 hit resistance at their 50-day moving averages while the Nasdaq stopped short of its 21-day line, below the 50-day.

The indexes need to get above their resistance levels and confirm the new uptrend. If they fall back, there’s a serious risk that this correction will take a new leg down.

This past week, many leading stocks flashed early entries or other buy signals, or were on the cusp of doing so. That includes tech titans such as Microsoft, Google and Nvidia as well as high-beta names such as Upstart Holdings (UPST) and Bill.com (BILL). If this market rally has legs, many or most of them will advance. But if this rally sputters, the vast majority of these potential new leaders will fizzle as well.

When the 10-year Treasury yield went on a tear in late 2020 and early this year, stocks initially kept rallying, but ultimately fell back. The Nasdaq struggled for months, even after yields peaked.

This time, market pressures roughly coincided with the 10-year yield moving higher, especially since mid-September. Over the next few weeks, stock and bond investors are going to focused on the Fed, and whether it will begin to taper bond buys. Even though Fed chief Powell has very slowly moved toward a taper, the beginning of the end of easy money could weigh on financial markets for a long period.

Another factor is that President Joe Biden is expected to announce his choice to head the Federal Reserve in the coming weeks as well, with Powell’s term expiring early next year. Biden could nominate Powell for a second term, likely pleasing Wall Street. But might not. That could raise uncertainty at a delicate time.

Time The Market With IBD’s ETF Market Strategy

What To Do Now

If you made a few pilot buys during the market rebound and you’re still flat or slightly up on them, you could hold onto them, though they bear close watching. But right now this is not a great time to be adding. While there could be a quick upside if the market rally strengthens next week, the downside from any new buys could be severe.

At this point, with the initial bounce over, investors should wait to see if big institutions are really going to support this new market rally.

If they do, and the major indexes follow-through and break above their 50-day lines, you need to be ready. There are dozens of stocks that are potentially actionable or setting up. Have those on a watchlist, and hone in on a handful that you’re most interested in.

Meanwhile, if the major indexes break down, you need to be quick to cut new buys that aren’t working and consider moving entirely into cash.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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Business

Tesla drivers can request FSD Beta with a button press, despite safety concerns

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Electric vehicle maker Tesla rolled out a long-awaited software update Friday night that allows customers to request access to its controversial Full Self-Driving Beta (FSD Beta) software.

The move delighted fans of CEO Elon Musk and Tesla, but it risks drawing the ire of federal vehicle safety authorities who are already investigating the automaker for possible safety defects in its driver-assistance systems.

FSD Beta is an unfinished version of Tesla’s premium driver-assistance software, FSD, which the company sells in the U.S. for $10,000 upfront, or $199 a month.

FSD is marketed with the promise of enabling a Tesla to automatically change lanes, navigate on the highway, move into a parking spot, or roll out from a parking spot to drive a small distance at a slow pace without anyone behind the wheel.

FSD Beta gives drivers access to an “autosteer on city streets” feature, which has yet to be perfected and enables drivers to automatically navigate around urban environments alongside other vehicles, pedestrians, bicyclists and pets without moving the steering wheel with their own hands. Drivers are supposed to remain attentive, however, with both hands on the wheel and prepared to take over driving at any time.

None of Tesla’s driver assistance systems — including the company’s standard Autopilot package, premium Full Self-Driving option, or FSD Beta — make Teslas autonomous.

The company previously made FSD Beta available to about 2,000 people, a mix of mostly employees and some customers, who test it out on public roads even though the software hasn’t been debugged.

The new download button could ostensibly lead to a rapid expansion in the number of participants who are not trained regulatory officials.

Government response

Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021.

Patrick Pleul | Reuters

Last week, when CEO Musk announced new details about the FSD beta button, Jennifer Homendy, the head of the National Transporation Safety Board, voiced concern over the company’s plans in an interview with The Wall Street Journal.

Homendy said, “Basic safety issues have to be addressed,” before Tesla expands FSD Beta to other city streets and regions. The NTSB chief was also displeased that the company was conducting testing of the unfinished product with untrained drivers on public roads in lieu of safety professionals.

Homendy also remarked — and in interviews with Autonocast, an industry podcast, and the Washington Post — that Tesla’s use of the term Full Self-Driving for a “level 2” driver assistance system is misleading and confusing.

Musk himself said last week in a tweet that FSD Beta now seems so good it can give drivers the wrong idea that they don’t need to pay attention to driving while FSD Beta is engaged, even though they are supposed to remain attentive and at the wheel at all times.

On Saturday, after Tesla enabled the “request full self-driving beta” feature in its vehicles — a fan blog named Teslarati shared a post on Twitter asking, “Does Tesla have a fair chance after NTSB Chief comments?”

Musk replied to them on Twitter with a link to the Wikipedia biography of Homendy. While Musk has previously urged his tens of millions of followers on Twitter to alter a description of his own career on Wikipedia, he shared this link to Homendy’s bio there without comment.

CNBC reached out to Tesla and the NTSB — neither was immediately available to comment on Saturday.

Safety score

Musk has been promising Tesla owners an FSD beta download button for months. In March 2021, he wrote in a tweet that the forthcoming button would give users access to the latest FSD Beta build as soon as their car connected to Wi-Fi.

He changed that approach, however. Now, Tesla has a calculator it uses to give drivers a “safety score,” and determine who will be allowed to get and use FSD Beta software.

Screen-shots shared with CNBC by Tesla owners with FSD indicate that the company’s “safety score” is akin to an insurance risk factor score.

Tesla’s systems tabulate a drivers’: “Predicted Collision Frequency, Forward Collision Warning per 1,000 Miles, Hard Braking, Aggressive Turning, Unsafe Following Time, and Forced Autopilot Disengagements,” according to correspondence and screenshots viewed by CNBC.

Tesla’s system does not, at this time, appear to measure and account for how often drivers fail to keep their hands on the wheel, how quickly they take over driving when prompted, or how consistently they keep their eyes on the road.

Only users who have a great driving record for a full week, in Tesla’s view, may gain access to FSD Beta.

Before Tesla released its FSD Beta button (and the 10.1 version of FSD Beta, which is expected this weekend, too) CNBC asked the California DMV Autonomous Vehicles Branch how pervasive and safe FSD Beta-equipped vehicles have been in use in the state so far.

The DMV declined an interview request but said, in an e-mailed statement:

“Based on information the information Tesla has provided the DMV, the feature does not make the vehicle an autonomous vehicle per California regulations. The DMV continues to gather information from Tesla on its beta release – including any expansion of the program and features.  If the capabilities of the feature change such that it meets the definition of an autonomous vehicle per California’s law and regulations, Tesla will need to operate under the appropriate regulatory authorization. Regardless of the level of vehicle autonomy, the DMV has reminded Tesla that clear and effective communication to the driver about the technology’s capabilities, limitations and intended use is necessary. The DMV is reviewing the company’s use of the term ‘Full Self-Driving’ for its technology. Because it is ongoing, the DMV cannot discuss the review until it is complete.”

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