1. Tesla Introduces Cybertruck Leasing Option
2. Hedge Funds Heavily Bet on U.S. Stocks Following Trump’s Election
3. Consumer Confidence Hits 7-Month High
4. BlackRock May Acquire Minority Stake in Millennium
5. Paramount Earnings Exceed Expectations
6. Chinese Local Governments Receive ¥10 Trillion in Support
7. Tesla’s Market Cap Returns to $1 Trillion
1. Tesla Introduces Cybertruck Leasing Option
Tesla’s official website shows that starting now, consumers can lease the Cybertruck with a $7,500 down payment and monthly payments of $999 over 36 months. If customers choose zero down payment, the monthly payment increases to $1,715.
The initial batch of Cybertrucks is priced above $100,000, significantly higher than the $39,900 price announced by CEO Elon Musk in 2019.
In last month’s financial report, Tesla revealed that the Cybertruck was its third-best-selling model, behind the Model Y and Model 3.
Tesla’s financial reports still do not separately list quarterly Cybertruck sales, suggesting that sales figures may not be significant.
______
2. Hedge Funds Heavily Bet on U.S. Stocks Following Trump’s Election
Goldman Sachs data showed hedge fund trading volumes in U.S. stocks surged this Wednesday, marking the largest increase in seven months, with most trades being bullish.
Typically, hedge funds reduce positions and lock in profits ahead of U.S. elections, also closing short positions and lowering leverage.
Morgan Stanley data indicates that, with election results finalized, hedge funds are now reinvesting in major banks, healthcare, U.S. industrial companies, and payment firms.
Hedge fund research firm PivotalPath expects Trump will continue to cut taxes and reduce regulations.
______
3. Consumer Confidence Hits 7-Month High
According to Bloomberg’s survey of economists, U.S. consumer confidence reached a seven-month high of 73 in early November, surpassing nearly all economists’ expectations. The index reflecting consumer expectations for the future economy rose to 78.5, the highest level since mid-2021.
Americans expect inflation to gradually ease, forecasting a price increase of 2.6% for the upcoming year—the lowest expected rate since 2020. For the next ten years, consumers anticipate an annual inflation rate of 3.1%.
However, the index measuring consumers’ willingness to buy durable goods slightly declined.
______
4. BlackRock May Acquire Minority Stake in Millennium
Sources familiar with the matter revealed that BlackRock is in talks with Millennium Management and is interested in acquiring a minority stake.
The hedge fund Millennium manages over $70 billion in assets and has never previously sold equity externally. Last year, the firm nearly reached a strategic partnership with Schonfeld Strategic Advisors, but negotiations fell apart after several months.
BlackRock, the world’s largest asset management company, has aggressively expanded into alternative investments over the past year. CEO Larry Fink aims to establish a comprehensive one-stop investment firm.
This year, Millennium plans to raise up to $10 billion for a new fund.
______
5. Paramount Earnings Exceed Expectations
Paramount Global, the parent company of CBS, MTV, and Paramount Pictures, reported third-quarter earnings.
For the quarter ended September 30, revenue declined 6% to $6.73 billion, below expectations of $6.95 billion. However, adjusted earnings per share (EPS) were $0.49, surpassing Wall Street’s forecast of $0.23.
Like other traditional media companies, Paramount is focusing heavily on growing its streaming business. The company said it is actively looking for strategic partnerships to better compete with Netflix and Disney. Paramount shares rose 12% today.
Direct-to-consumer businesses, including streaming services Paramount+ and Pluto TV, saw revenue growth of 10% to $1.86 billion.
______
6. Chinese Local Governments Receive ¥10 Trillion in Support
This week, China’s central bank provided local governments with ¥10 trillion in funds but did not announce new stimulus measures, primarily to retain operational flexibility in anticipation of a potential trade war under Trump’s presidency.
China’s Finance Minister Lan Fo’an pledged stronger fiscal policies by 2025, preparing for potential tariffs of up to 60% that Trump might impose.
Since September this year, China’s A-share market has risen around 30%, benefiting from the central bank’s most aggressive stimulus policy since the pandemic began. With interest rate cuts and support measures for the stock and housing markets, China remains hopeful of achieving its GDP growth target of 5%.
The central bank considers local government debt one of the three primary economic risks.
______
7. Tesla’s Market Cap Returns to $1 Trillion
Tesla shares surged 11% today to $328.71, bringing its year-to-date gain to over 32%. If the stock closes at or above $311.52, Tesla’s market capitalization will securely return to $1 trillion.
Currently, only seven companies in the S&P 500 have market valuations exceeding $1 trillion. The last time Tesla crossed this threshold was April 2022.
Tesla’s stock price experienced volatility in 2024, briefly declining by 4% on April 22 but recovering steadily since then.
Following Tesla’s strong earnings report on October 23, its shares surged 18%, followed by another 30% rise after Trump’s election victory.
______
This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.