Diamonds and Dogs


Tesla rival, Rivian (RIVN) is jumping 10% after announcing production numbers of 4,401 vehicles in the second quarter, up over 70% from the first quarter production numbers of 2,553 vehicles. Rivian also reiterated its 2022 production target of 25,000 annual vehicles.

Oil is a dog for a second straight day, with the price down as much as 3% today. Yesterday was the largest daily decline for WTI closing below $100 for the first time since late April. The current average price of regular gasoline in the U.S. is $4.77 a gallon, down from $5.03 a gallon on June 16. EOG Resources (EOG) fell 3% on a downgrade.

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