Chicago. Phil. Melissa, the reason the stock is shooting higher is because the adjusted eps is 1. 86 profit for the third quarter. And that is far above what most people were expecting. The expect aches, the consensus out on the street was for a loss of 42 cents a share. Revenue came in a little under expectations at 6. 30 billion the expect aches for 6. 33 billion in revenue and looking at the gross margins, 18. 7 is what most of the analyst were zeroing in on in terms of what the expectation was for the third quarter. Remember, many people believed as they were increasing model 3 deliveries, especially at the higher price point, that we might see higher gross margin process. Well the gap auto gross margin coming in at 22. 3 a couple much production notes, first of all, trial production has begun at shanghai plant preponderate remember ramping up production and deliveries in china into the end of the year the model y according to tesla ahead of schedule in the production beginning in
Our top story this morning, President Biden touching. Down in israel. A single blast in a hospital in gaza killing hundreds and israel is letting hamas and hamas is blaming israel. The exposing explosion threatening to tip things over the edge. Pres. Biden based on what i have seen, it appears it was someone on the other team. There are a lot of people out there. We have to overcome a lot of things. Jon the stakes for this trip cannot be hired. How do you ensure aid gets to gaza and civilians are kept out of harms way . President biden has arrived here in tel aviv and he was greeted by Benjamin Netanyahu. This is a very different trip then joe biden planning to do for hours ago, this was a twolegged trip originally. First in tel aviv and the second in jordan. What can joe biden achieve . You can suppose you can show support for the israelis. Chuck schumer was here in this building a few days ago. We understand to client 2000 soldiers on high alert but the third bid, the diplomatic side
Buybacks. And the paramount bidding war is in a new phase after skydance is in the rearview mirror. And now calling for change at the company as schultz speaks out. It is monday, may 6th, 2024. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to cnbcs Worldwide Exchange. We kickoff the hour with the s p having the best day since january. Futures in the green across the board. The dow would open up 77 points higher. Nasdaq and s p are firmly in the green. Investors are feeling bullish on the back of the jobs report on friday and what it could mean for the fed policy pathi moving forward. According to the fed watch tool, traders are betting on odds that powell has a move with 63 compared to a week ago. The tenyear yield is currently 4. 5 . That is pulling back 15 basis points. The twoyear note is 4. 8 . We have a look at the Energy Market and oil is looking to trade below 80 a barrel for wti. Brent crude is 83. 66. Both moving higher. Wti up 1 right now. Thats the
Because the odds for a june fed rate policy pivot, well, theyre going it was just it was ridiculous. It was always going to be hot. Yeah, yeah. No. Plus, big tech divergence, alphabet, amazon at highs, jim, but apple and tesla, i dont know if you noticed, theyve been struggling a bit. Nvidia, were going to talk about that stock, of course. How could we not . Its entering a correction. Well, if you dont know what it is or if you think its my dog, then why dont you sell some. Finally, jim, the airlines are leading s p premarket gainers. Delta topping quarterly estimates. Its focused on efficiencies im focused on the fact that phil lebeau has been here for 25 years and hes the best. Lets not lose sight of real things. Hes the best he is. Rely on phil more than we ever have. Lets start with the market, get your reaction to the hotter than expected cpi print. Weve heard from the analysis in terms of expectations for a fed rate cut, which are fading fast. The yield curve inverting a bit. The
And ive always said this. Its nice to have kids because you need to live to watch them grow up, right i guess time is passing, they cant grow up. Did you have a nice day we did. I i dont know, i thought i had a free rain ein to imbibe. You cant tell what youre doing until its too late. So i have a picture we had a cake when we got home. I was laying on the couch and they took a picture of me because i wouldnt sit up to eat the cake you need those glasses that we had stounounds like a good birth we went in the big city it was fun. Happy belated birthday. Thank you. Folks, lets check out the u. S. Equity futures. The second trading week of the year green arrows dow was up by 577 points gain of 2. 3 nasdaq up by even more 3. 4 just in the first four trading days looks like there are green arrows across the board. Dow futures up comes after big gains up tonight in asia. Nikkei up by. 9. Hang seng up by a quarter of a percent. Shanghai up. Early trading in europe this morning you will see t