South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
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.
