Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
U.S. Dollar Slides for Second Week as Tariff Threats and Iran Tensions Shake Markets 
Asia Stocks Pause as Tech Earnings, Fed Signals, and Dollar Weakness Drive Markets 
Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Philippine Economy Slows in Late 2025, Raising Expectations of Further Rate Cuts 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
U.S. and El Salvador Sign Landmark Critical Minerals Agreement to Boost Investment and Trade 
Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
Trump Threatens 50% Tariff on Canadian Aircraft Amid Escalating U.S.-Canada Trade Dispute 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
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.
