Tesla stock pops after Trump comments on China tariffs and Powell, despite weak earnings

Core Insights - Tesla shares increased by 5% following CEO Elon Musk's indication of dedicating more time to the company and positive tariff news from the White House [1] - President Trump indicated that tariffs on China would not reach 145%, which contributed to a positive market sentiment [2] - Tesla reported disappointing first-quarter results, with a 20% year-over-year decline in automotive revenue and a 71% drop in net income [3] Financial Performance - Tesla's adjusted earnings were reported at 27 cents per share on revenues of $19.34 billion, falling short of analyst expectations of 39 cents EPS on $21.11 billion in revenue [3] - The company plans to "revisit" its 2025 guidance during the second-quarter update [3] Management Changes - Elon Musk announced he would spend "significantly" less time at The Department of Government Efficiency starting next month [4]