Tesla delivered fewer cars than expected | Reports said OPEC+ might cut oil production | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for October 4th in 3:12 minutes. ð Listening to investing experts is always a solid tactic, but few of us are lucky enough to have Warren Buffett on speed dial. Well, this is (almost) just as good: join Nasdaqâs Kevin Davitt for [How The Pros Navigate Stock Market Volatility]( â the first of our workshops about investing in your 20s and 30s â on Thursday, and find out how to handle risk like the experts. [Grab your free ticket today]( Today's big stories - Tesla delivered fewer cars than expected last quarter
- Our survey showed Finimizers are feeling pretty nervous about markets â [Read Now](
- Reports claimed OPEC+ might cut oil production Signed, Sealed, Not Delivered [Signed, Sealed, Not Delivered] Whatâs Going On Here? Tesla [announced]( over the weekend that it delivered fewer cars than analysts expected last quarter. What Does This Mean? The ongoing soap opera of Elon Muskâs Twitter takeover has been so engrossing that you might have forgotten about Tesla, so letâs get you up to speed: the firm just announced the number of cars it delivered last quarter â a hotly anticipated figure that underpins the carmakerâs financial results. The good news is that the firm delivered a record 344,000 cars, up 42% on the same time last year ([tweet this](). But the bad news is that all-time high still underwhelmed demanding analysts, and also came in well below the 366,000 cars Tesla produced. That gap comes down to logistical problems that are making it hard for the company to actually get cars onto customersâ driveways. Why Should I Care? Zooming in: Put the pedal to the metal.
Logistical issues arenât the only ones Teslaâs contending with right now. The price of lithium â the key metal in EV batteries â jumped to a record high last week, and a pound of the stuff now costs roughly three times what it did a year ago, and a whole ten times more than back in July 2020. Those higher prices have put battery and EV manufacturers in an awkward position: either they swallow the costs and watch their profit margins shrink, or jack up prices and risk losing customers. The bigger picture: Promising policy.
Tesla might actually get away with hiking prices in the US â its biggest market â thanks to the recently signed Inflation Reduction Act. The package extends measures offering tax credits worth $7,500 to consumers buying new EVs. And while that's not totally new, the tax credit previously had a 200,000-car limit that meant customers of EV giants like Tesla â which had sold more cars than that in the US â were no longer eligible. But now that capâs out the window, Tesla can count on a tidy increase in demand. You might also like: [How to value Tesla.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
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Spooky Season Started Early [Spooky Season Started Early]( By Daniel Johnston, Analyst Thereâs still a while to wait before Halloween â donât let Starbucksâ pumpkin spice promos fool you. But it looks like you guys are getting the seasonal scaries a bit early: the results of our latest [Casual Investor Survey]( show youâre properly spooked by [the state of the economy and markets](. But if youâre willing to put your bravest foot forward, there are still [some treats to be found]( among the tricks. Thatâs todayâs Insight: [why Finimizers are spooked by markets, and how you might be able to dodge the ghouls haunting them](. [Read or listen to the Insight here]( Your brand could represent the new investing era The second [Finimize Modern Investor Summit]( will celebrate the new era of investing. So if your brand or product is helping to create the next generation of investing opportunities, our summit is the [ideal place to showcase your potential](. Feature your product during speaker slots, fireside chats, and expert Q&A panels, and youâll be able to [directly engage with an engaged audience and demonstrate your brandâs true power](. Thousands of retail investors attended the Modern Investor Summit last year, so donât miss your chance to [get your product in front of our community this December](. [Put your brand in the spotlight](. [Find Out More]( OPEC+ Tightens The Taps [OPEC+ Tightens The Taps] Whatâs Going On Here? Reports out over the weekend [suggest]( OPEC+, a group of oil-producing nations, is considering cutting oil production. What Does This Mean? OPEC+ has been steadily increasing oil supply over the past two years, after slashing production in the dark days of Covid-19. But with the global economy cooling down, so-called âblack goldâ has lost its luster, and prices have seen a 25% drop in the past three months. Thatâs bad news for the group, especially since many members â like Saudi Arabia and Russia â rely on oil revenues to cover government spending. Itâs no wonder, then, that when the group meets on Wednesday, cutting production by over a million barrels per day come November could be up for discussion. That drop â about 1% of global oil supply â would mark the biggest cut in production since the pandemic. Why Should I Care? For markets: The worst is yet to come.
All else being equal, lower supply will mean more competition for oil, so itâs no surprise that Brent crude â a key oil benchmark â jumped 4% on Monday. But prices might just be beginning their upward climb. See, western sanctions on Russian oil exports are due to tighten later this year, which could further hit supply. That might be why Goldman Sachs thinks Brent crude will [hit]( $100 a barrel over the next three months and climb to $105 in the space of six â a far cry from the current $89 asking price. The bigger picture: This wonât pour oil on troubled waters.
With energy prices already adding fuel to the fire of global inflation, this is the last thing many countries will want to hear â including the US. There, the governmentâs been trying to lower fuel prices ahead of next monthâs crucial midterm elections. And itâs not about to take reduced oil production lying down: some US politicians have suggested that if the plan does go ahead, the US should cut supply of airplane parts to Saudi in retaliation. You might also like: [Why itâs (still) a good time to add commodities to your portfolio.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=OPEC Tightens The Taps&utm_campaign=daily-global-04-10-2022&utm_source=email) ð¬ Quote of the day âAge does not protect you from love. But love, to some extent, protects you from age.â â Jeanne Moreau (a French actress, singer, screenwriter, and director) [Tweet this]( ð Finimize Live 𥳠Coming Up This Week All events in UK time. ðµï¸ââï¸ [How The Pros Navigate Stock Market Volatility](: 5pm, October 6th ð And After That⦠ð¡ [The Pathway To Property Investing In 2022](: 12pm, October 11th
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ð [Modern Investor Summit](: 12pm, December 6th-7th ð¯ On Our Radar - âFunny but sadâ. Discover the world of [Martin McDonaghâs latest film](.
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