Tesla CEO Elon Musk expects the U.S. economy to endure a period of “stormy weather” over the next year amid a blend of higher interest rates, tighter lending conditions, and layoff fears. The latest earnings reports in the first-quarter earnings season and the Federal Reserve’s “Beige Book,” a monthly report of business survey responses, might support his prognostication.
Tesla shares tanked about 4 percent in after-hours trading after the electric vehicle maker released its first-quarter earnings report on April 19. The company reported $0.85 earnings per share, matching market expectations. It also recorded $23.33 billion in revenue, topping estimates of $23.21 billion. However, net income tumbled 24 percent year over year to $2.51 billion….