Good afternoon and welcome to Markets Desk.
Tesla heads into earnings with more than just delivery numbers on the line. Investors are zeroing in on margin performance, where competing pressures from price cuts, energy credits, and manufacturing costs will tell the real story. A delivery beat bought goodwill, but the margin line will move the stock.
Shifting to sector strategy, B. Riley Wealth's Art Hogan is cautioning investors against reading record S&P five hundred levels as a signal to sell. His argument is disciplined: technology may be stretched, but financials, healthcare, and industrials lagged through September and now represent genuine rotation opportunities for patient capital.
And on the geopolitical front, a proposed diesel arrangement between Washington and Moscow is drawing sharp resistance on Capitol Hill. Lawmakers from both parties argue the deal would effectively channel revenue into Russia's war effort in Ukraine and may run afoul of existing American sanctions law, putting the White House in an uncomfortable position with its own party.
That's the tape. Markets Desk, signing off the floor.
