{ }
Elon Musk's political actions have intertwined Tesla with his controversial support for Donald Trump, leading to questions about the morality of driving a Tesla. As Musk uses his platform to promote divisive rhetoric, the brand's image has shifted from a symbol of ecological progress to a political statement, complicating consumer choices. The once-clear distinction between the brand and its founder has blurred, making Tesla a vehicle of political identity rather than just a mode of transport.
Swiss Steel has firmly denied insolvency rumors, asserting it is in regular contact with lenders despite reports of financial distress. The company, which recently raised capital, is facing significant losses and low demand, particularly from the struggling German automotive sector. The outlook for the remainder of the year remains volatile, with expectations of continued challenges in the market.
Musk has reportedly been in secret contact with Putin since 2022, influencing both politics and technology through his platforms. His Starlink service initially aided Ukraine during the invasion but later faced criticism for restricting military use and allegedly being utilized by Russian forces. Despite the revelations, U.S. officials remain largely unaware of Musk's Kremlin connections.
U.S. markets showed mixed results, with the S&P 500 and Nasdaq rising due to a 21.9% surge in Tesla shares after positive earnings and growth projections, while the Dow fell, impacted by Boeing and IBM. Asia-Pacific stocks mostly rose, though Japan's Nikkei slipped as inflation hit a six-month low. Major airlines are cutting flights to China amid rising costs and lower demand, while analysts predict a decline in Chinese steel exports due to new tariffs starting in 2025.
Elon Musk has reportedly been in regular contact with Russian President Vladimir Putin since late 2022, discussing various geopolitical and business matters. Notably, Putin allegedly requested Musk not to activate the Starlink system in Taiwan to support China's claims over the region. Musk, a key figure in the US space program and a supporter of Donald Trump, has faced scrutiny over potential conflicts of interest due to his companies' ties with the US government.
US stocks and bonds gained as new home sales exceeded estimates, jobless claims fell, and business activity expanded. Asian markets showed mixed results, with Japanese shares lagging due to a stronger yen, while Australian and South Korean indexes advanced. Treasury yields declined for the second consecutive day, reflecting shifting expectations for Federal Reserve rate cuts amid upcoming economic data and a tight presidential race.
Tesla shares surged nearly 22% after strong third-quarter earnings, marking the company's best day since 2013, driven by better-than-expected adjusted earnings per share and improved gross margins. CEO Elon Musk projected a 20%-30% growth in production volume for 2024, further boosting investor confidence.In contrast, Boeing factory workers rejected a contract offer, extending a strike that complicates CEO Kelly Ortberg’s recovery plans. Meanwhile, OpenAI disbanded its “AGI Readiness” team, and TSMC halted shipments after a chip was discovered in a Huawei product.
U.S. markets showed mixed results, with the S&P 500 and Nasdaq rising due to a 21.9% surge in Tesla shares after positive earnings and growth projections, while the Dow fell, impacted by Boeing and IBM. Tapestry's $8.5 billion acquisition of Capri was blocked, causing Tapestry's shares to jump 13.7% and Capri's to plummet 45.1%. Analysts suggest a potential 5% pullback for the S&P amid ongoing market uncertainties, though a post-election relief rally is anticipated.
Jim Cramer emphasized the ongoing importance of fossil fuels, particularly natural gas, in powering the growing energy demands of Big Tech companies like Meta, Nvidia, Google, and Microsoft. He noted that while these firms are investing in renewable energy, the immediate reliance on fossil fuels for data centers remains critical, as the grid struggles to meet their electricity needs. Cramer also argued against the notion that combustion engines will soon become obsolete, highlighting the broader significance of fossil fuels beyond just the automotive sector.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Newsletter

© 2025 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.