Stock futures climbed on Monday after the U.S. government avoided a shutdown, and bond yields rose as Wall Street turned its focus back to the future of interest rates.
Tesla Expected to Report Strong Third-Quarter Deliveries
Today, Tesla (TSLA) is expected to announce its third-quarter delivery numbers. According to FactSet, estimates suggest that the electric-vehicle giant will report approximately 461,000 deliveries. In the second quarter, Tesla delivered around 466,000 vehicles. Additionally, Tesla has unveiled an updated version of its Model Y in China. As a result, the stock saw a 0.8% increase in premarket trading.
Chinese EV Makers NIO, XPeng, and Li Auto See Increased Trading Figures
U.S.-listed shares of Chinese EV makers NIO (NIO), XPeng (XPEV), and Li Auto (LI) were also trading higher after reporting a combined 66,831 deliveries in September. This marks a 116% increase from the same period last year and the second-highest combined month ever. NIO saw a 1% rise, while XPeng gained 1.3%, and Li Auto increased by 1.8%.
AMC Entertainment Rises on Potential Movie Distribution Deal
AMC Entertainment (AMC) saw a 2.1% increase after Variety reported that the filmmakers behind a movie based on Beyonce’s Renaissance World Tour were in advanced talks with AMC to distribute the film directly to its theaters. This news comes after AMC announced in August that it would release the “Taylor Swift: The Eras Tour” concert film on October 13 and serve as its global distributor.
Apple Shares Trade Higher Amid Announcement of Software Update
Apple (AAPL) shares traded up by 0.8% as the company announced plans to release an iOS 17 software update over the weekend. The update aims to address overheating issues with the recently released iPhone 15.
Earnings Reports Expected from Prominent Brands
Investors can anticipate earnings reports this week from Constellation Brands (STZ), Lamb Weston (LW), Conagra Brands (CAG), and Levi Strauss (LEVI).