Dow and S&P 500 soar to a record close despite April jobs miss
Employers added just 266,000 jobs last month, while unemployment rose to 6.1% Reuters had predicted that April US non-farm payrolls (NFP) would increase by 978,000 jobs after rising by 916,000 in March
4:05pm: Missed expectations on job data doesn t slow Wall Street
The Dow closed Friday up 228 points, 0.7%, at 34,776, a record finish. The S&P 500 gained 31 points, 0.7%, to 4,232, also a record, and the Nasdaq improved 119 points, 0.9%, to 13,752.
Investors had to grapple with a major jobs miss as employers added just 266,000 jobs last month, well below Street expectations of roughly 1 million, while unemployment rose to 6.1%.
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One of Tesla Inc.’s engineers told California authorities that Chief Executive Elon Musk overstated the capability of Autopilot, the company’s driver-assistance system, early this year.
The clarification was described in a series of records the California Department of Motor Vehicles released to the legal advocacy group PlainSite, which published the documents Thursday. According to a March 9 memo, DMV officials asked CJ Moore, a director of Autopilot software, about Musk’s claims that Teslas would be capable of fully autonomous driving this year.
“Elon’s tweet does not match engineering reality per CJ,” Miguel Acosta, chief of the DMV’s autonomous vehicles branch, wrote in the memo. Musk tweeted and spoke during an earnings call in January about his confidence that Tesla could achieve full autonomy as soon as this year.
By Sasha Margulies, iHeart Media
May 7, 2021
If you were planning on taking a written driver s test in a language other than English, your preferred language may not be available.
The California Department of Motor Vehicles is making some changes to its written driver s license tests. As part of its Knowledge Testing Modernization project, the DMV will only be offering the test in seven languages, 25 fewer than before. Additionally, the test will be longer, up from 18 questions to now 25. DMV s announcement last week notes policy requiring just the seven languages be offered, although they will offer translation in the native tongue of any group making up at least five-percent of local population.
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Tesla privately admits Elon Musk has been exaggerating about ‘full self-driving’
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Tesla CEO Elon Musk has been overstating the capabilities of the company’s advanced driver assist system, the company’s director of Autopilot software told the California Department of Motor Vehicles. The comments came from a memo released by legal transparency group PlainSite, which obtained the documents from a public records request.
It was the latest revelation about the widening gap between what Musk says publicly about Autopilot and what Autopilot can actually do. And it coincides with Tesla coming under increased scrutiny after a Tesla vehicle without anyone in the driver’s seat crashed in Texas, killing two men.