Tesla Earnings and EV Boom Drive Tuesday's Focus

Auto Earnings in the Spotlight

The week's biggest market event arrives tomorrow. Tesla reports Q3 2026 results after the close on Tuesday. German car registrations, which ORTEX alt data measures as leading Tesla revenue by 43 days with a strong fit, are running 269% above the same quarter last year across all three months. Short interest sits at just 2.5% of free float, and the cost to borrow is an ultra-low 0.35%. Short sellers are not pressing into the print.

General Motors reports today. The same German registration dataset leads GM revenue by 15 days and is running 133% above year-ago levels. SI % of free float sits at 2.4%, meaning the stock is lightly shorted ahead of the number.

EV Data and Canadian Banks Hit Records

European battery-electric car registrations hit 32,458 vehicles in September 2026. That is the highest reading since the series began in 2016. Malaysia recorded 5,945 new battery-electric registrations in September, also a record for that month. These readings add weight to the bullish setup for auto earnings this week. Canada's bank balance sheets crossed C$20 trillion in August. That is the largest reading on record since 1996, beating last year's C$18.6 trillion peak.

Short Sellers and Index Pressure

Chewy carries the most extreme short position among large US stocks at 91.5% of free float. CoreWeave short interest reached 21.1%, with around $6 billion of shorted value on a $28 billion market cap.

On the index front, Fabrinet's deletion probability from MSCI World jumped to 90% overnight. Today is the rank date for the November review. The stock sits 15% below the $15 billion exit threshold, pointing to $779 million of potential forced selling if it stays out.

Netflix and Intuitive Surgical both report after today's close, rounding out a dense 24 hours for earnings.