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WSJ What’s News

What's News in Markets: Tesla Deliveries, Spirit's Nosedive, Carmakers' Roadblocks

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 5 October 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Why are global automakers hitting the brakes? And why did Tesla's stock fall despite the company delivering more vehicles? Plus, what sent Spirit Airlines shares into a tailspin? Host Francesca Fontana discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Adobe Express is the quick and easy Create Anything app.

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0:11.0

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0:15.0

Hey listeners, it's Saturday October 5th.

0:21.0

I'm Francesca Fontana for the Wall Street Journal, and this is

0:24.6

what's news in markets, our look at the biggest stock moves of the week and the

0:28.6

news that drove them. Let's get to it. Happy October everybody.

0:33.0

Not only is it now my birthday month, sorry, shameless birthday self-promotion,

0:38.0

we are also coming into the fourth quarter of 2024,

0:42.0

and markets had a lot to digest to kick it off. We had two main

0:46.0

threats to follow this week. One was the escalating conflict in the Middle East.

0:50.2

On Tuesday Iran attacked Israel, prompting vows of retaliation, and we saw the ripple effects

0:56.4

move across the markets. Obviously, global energy markets got a jolt with oil prices rising, and we saw nervous investors turning from stocks to

1:05.1

bonds and oil prices kept moving throughout the week notably after President

1:09.6

Biden suggested on Thursday that US officials are considering whether to support an Israeli strike

1:14.8

on Iranian oil facilities. But the stock market's collective focus turned back to the US economy

1:20.8

and the latest largely upbeat data around the labor market.

1:24.7

The big market mover being Friday's payrolls report, which bolstered expectations for the

1:29.4

Fed to cautiously proceed with future interest rate cuts. On a weekly basis, all three

1:35.0

major indexes ended with small gains and on Friday the Dow notched its 34th

1:40.0

record close of 2024. Global automakers are hitting some roadblocks.

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