Gold Prices Dip Amid Middle East Uncertainty and Inflation Fears 
Asian Currencies Hold Steady as Middle East Ceasefire Doubts Weigh on Markets 
U.S. Inflation Surges in March as Iran War and Tariffs Drive Prices Higher 
U.S. Natural Gas Market Faces Short-Term Pressure but Long-Term Demand Surge 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
U.S. Futures Slip as Iran Ceasefire Uncertainty and CPI Data Weigh on Markets 
Federal Reserve Probes Big Banks Over Private Credit Exposure Amid Growing Systemic Risk Concerns 
Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates 
Gold Prices Rise on Weaker Dollar and Ceasefire Hopes 
Colombia and Ecuador Trade War Escalates With Retaliatory Tariffs 
Asian Markets Retreat as Gulf Crisis Fuels Oil Surge and Inflation Fears 
Bank of America Maintains Forecast for Two Fed Rate Cuts in 2026 Despite Inflation Risks 
Oil Prices Rise Amid Strait of Hormuz Tensions and U.S.-Iran Talks 
China's Inflation Data Misses Forecasts as Consumer Prices Slow in March 
Japan Consumer Confidence Drops Sharply Amid Rising Fuel Costs and Middle East Tensions 
Dollar Stabilizes Amid Fragile US-Iran Ceasefire as Markets Watch Hormuz Strait 
Tesla Beats Q3 Estimates, Forecasts 2024 Delivery Growth
Tesla delivered third-quarter results that exceeded Wall Street expectations, reflecting improved margins and stronger automotive sales. Despite challenges in the electric vehicle (EV) market, Tesla predicts "slight" growth in vehicle deliveries for 2024.
Q3 Earnings Surpass Expectations
For Q3, Tesla reported adjusted earnings per share (EPS) of $0.72 on revenue of $25.18 billion, beating analysts' forecast of $0.60 EPS, though revenue slightly missed the $25.4 billion estimate. Tesla shares rose by over 8% in after-hours trading.
The company’s automotive sales reached $20.02 billion, up from $19.63 billion in the same period last year. Additionally, gross margins, excluding regulatory credits, improved to 17.05%, up from 14.7% in the previous quarter.
Energy Business Hits New Record
Tesla's energy division posted a record gross margin of 30.5% in Q3, driven by increased Powerwall deployments, despite lower Megapack volumes. The company expects energy storage deployments to double year-over-year in 2024.
Services and Future Outlook
Tesla’s services and other business sectors saw a gross profit surge of over 90% year-on-year in Q3. Moving forward, the EV maker is preparing to introduce new, more affordable vehicles by the first half of 2025.
Although Tesla's stock has declined 14% this year amid concerns over demand and competition in China, the company remains optimistic about future growth.
