(KRON) — In today’s installment of Winners & Losers, financial expert Rob Black discusses the S&P 500’s retreat, Amazon’s plan to buy One Medical and Tesla’s electric vehicle revenue growth.

Loser: S&P 500 retreats from 6-week high

The S&P 500 is retreating from a six-week high after a weak batch of economic data and corporate earnings revived fears of a recession on Wall Street.

Disappointing results from AT&T, American Airlines and others, as well as poor economics are suggesting greater inflationary pressures.

Jobless claims rise to 251,000 in another sign that the labor market is cooling. 

The European Central Bank surprises markets with a larger-than-expected rate hike, its first in 11 years.

Mortgage demand is at a 22-year low, which is also bad news for realtors. 

Crypto startup Blockchain.com said it is laying off 25% of its staff, citing harsh market conditions. Blockchain.com is a crypto exchange and wallet platform responsible for nearly a third of all Bitcoin transactions through its wallet product.

Winner:  Amazon to buy primary health care provider One Medical

Amazon is acquiring One Medical, the primary health care provider, at roughly $3.9 billion.

The deal deepens Amazon’s presence in health care. Health services is “high on the list of experiences that need reinvention, according to Neil Lindsay, SVP of Amazon Health Services.

The e-commerce giant hopes to improve how people book appointments and the experience of being seen by a physician.

One Medical operates a network of boutique primary care practices and offers a range of telemedicine services.

It has grown to oversee 188 medical offices in 25 markets and counts 767,000 members.

Amazon signaled a greater interest in the health care space when it purchased PillPack in 2018, using the acquisition to launch its own online pharmacy years later.

The company has also ramped up its telehealth service, called Amazon Care, and it has sought to develop at-home medical diagnostics.

Winner: Tesla grows EV revenue 42%

COVID outbreaks and ongoing semiconductor and parts shortages have slowed Tesla’s growth. 

Inflation is hitting Tesla too. Tesla margins decreased from last quarter, impacted by inflation and more competition for EV components like battery cells and other components.

Automotive revenues made up $14.6 billion in the quarter. 

Tesla generated $344 million in automotive regulatory credits, but that has now declined 3% as other auto makers make EVs.

Tesla’s new factory outside of Berlin has surpassed 1,000 cars per week, and Austin should exceed the 1,000 per week in the next few months. Musk said factories in Austin, Texas and Germany “are gigantic money furnaces.”

Tesla has grown its charging infrastructure 34% and now has 36,165 total Supercharger connections.

Tesla has lots of balls in the air. The hotly anticipated Cybertruck unveiled in November 2017 is expecting its debut in the middle of 2023. 

An updated Roadster concept, which was also unveiled in Nov. 2017, and other speculative projects like the humanoid robot are“in development.”