Good morning and welcome to Markets Desk, your midday read on the stories moving capital and conversation.
Tesla is officially winding down Cybertruck production at Gigafactory Texas, with Elon Musk confirming the phase-out by mid next year to clear floor space for the Cybercab. The pivot marks a striking reversal for a vehicle Musk once called Tesla's best product ever, and signals a hard strategic bet on autonomous ride-hailing over consumer trucks.
Turning to commodities, natural gas futures climbed nearly two percent Friday, touching a one-week high as the Commodity Weather Group shifted forecasts cooler across key demand regions. Record LNG export volumes are compounding the tightness, pulling supply away from domestic storage at precisely the moment heating demand looks set to accelerate into winter.
On the analyst tape, Seaport Global upgraded SiTime to Buy from Neutral, just six weeks after initiating coverage with a cautious stance. The timing is notable — a rapid reversal like that typically reflects either a meaningful change in the fundamental outlook or a reassessment of valuation after a price move, and either way it puts the precision timing semiconductor name back on the radar.
That's the tape. Markets Desk, signing off the floor.
