As Tesla shares trade does the S&P500 follow? Our Chief Equity Strategist and Economist, John Blank, seems to think so. He’s here with us now.

1. You say Tesla (TSLA Quick QuoteTSLA - Free Report) the company and Tesla’s inflated share price are interwoven. How so?

2. So then to the market Tesla is more than just an automaker and a leader in the EV market?

3. With its large market cap how much of the S&P 500 does it account for?

4. You’ve written that Tesla is the ‘canary in the coal mine’ for the S&P500 index price.What does that mean for stock investors?

5. Has it become a bellwether for the market and the economy?

6. Do investors need to keep a close eye then on Tesla news and its share price in order to gauge where the stock market or economy is headed going forward?

7. There’s been a lot of tech selling in the market. What does that tell you?

8. In addition to what we’ve discussed here, you say central banks globally are also a major market driver. Which are most important?

9. Shifting away from this a bit…Energy is clearly the top sector and stays firmly at Very Attractive in June. In that group you’re looking at Canadian Natural Resources, Ltd. (CNQ Quick QuoteCNQ - Free Report) . Materials and healthcare remain attractive. On your radar there are Albemarle (ALB Quick QuoteALB - Free Report) and AMN Healthcare Services (AMN Quick QuoteAMN - Free Report) respectively.

Our Chief Equity Strategist and Economist, John Blank, on Tesla and the market. With John, I’m Terry Ruffolo.