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Tesla is expected to release its third-quarter delivery numbers today.
Stock futures are mixed after major indexes hit record highs yesterday despite the start of a government shutdown; Tesla (TSLA) is expected to announced that its deliveries rose ahead of the end of government EV subsidies; Stellantis (STLA) shares are surging after the Jeep maker released its quarterly sales figures; and ChatGPT-maker OpenAI is reportedly valued at $500 billion. Here’s what you need to know today.
Stock futures are mixed this morning after major indexes closed higher for the fourth straight day yesterday, as investors brushed aside concerns about the potential impact of the federal government shutdown. Futures tied to the benchmark S&P 500 index, which hit a record high yesterday, were up 0.2% recently, while Dow Jones Industrial Average futures fell slightly after the blue chip index closed at a record high for the second straight day. Futures linked to the tech-heavy Nasdaq were up 0.6% this morning. Gold futures were at $3,910 an ounce, trading near an all-time high, while bitcoin rose to $118,700 and was trading at its highest level since mid-August. The yield on the 10-year Treasury note, which affects a range of consumer loans, was little changed at 4.10%.
The Senate on Wednesday again failed to pass proposals from Democrats and Republicans to keep the government open. With the Senate not scheduled to be in session today, the federal government shutdown is expected to last at least until Friday, the next opportunity for lawmakers to vote on legislation to fund the government. In the meantime, the shutdown will delay today’s release of weekly initial jobless claims and affect the delivery of other economic data, including tomorrow’s highly anticipated release of the September jobs report. As many as 900,000 federal workers could be laid off, at least temporarily, due to the shutdown.
Tesla (TSLA) is expected to report that its third-quarter deliveries increased from the prior two quarters. Analysts…
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