Auto Earnings, Bitcoin and a Busy Market Monday

Tesla and GM Dominate the Week

The biggest story this week is auto earnings. GM reports today, with German car registration data tracked by ORTEX running 133% above the same quarter last year. That is a strong leading signal. Tesla follows tomorrow after the US close. The same German car dataset leads Tesla revenue by 43 days and is running 269% above the same quarter last year. Analysts raised revenue estimates for Tesla today ahead of the print. Options traders are loading up on both names, with elevated implied volatility typical of the earnings window. Also reporting today: GE, RTX, Northrop Grumman, and Netflix after the close.

Europe: Adidas Beats, Energy Approval Looms

Adidas delivered Q3 sales of €7.25 billion, up 9% year-on-year. Operating profit rose 37%. The company expects full-year operating profit of around €2.5 billion and received a €200 million US tariff refund. The UK government is expected to approve the Jackdaw gas field on Wednesday. That would benefit Shell and Equinor, both of which moved on the report today.

Bitcoin and M&A

Michael Saylor declared Bitcoin's next bull run has begun, lifting Strategy Inc. Separately, Legendary Entertainment revived its takeover approach for Lionsgate Studios, submitting a fresh offer. The deal would reshape the independent studio landscape.

Market Outlook

Morgan Stanley strategist Mike Wilson said the recent market correction is nearly over and sees the S&P 500 reaching 8,500. That call added a broadly positive tone to today's session, with earnings results from defence and industrial names set to refine the picture further before the close.