Tesla, SAP and a SpaceX Curveball Set the Tone

Earnings Day Arrives

TSLA and META both report Q3 2026 results this evening. The two prints land on the same day, a rare double from the market's most-watched growth names. Tesla carries the sharper setup. ORTEX alt data tracking German car registrations, a dataset that leads Tesla revenue by 43 days with a strong fit, is running 269% above the same quarter last year. That is a striking directional read, not a forecast of the print. LRCX also reports today. Taiwan export orders jumped 69% year-on-year in September, reaching TWD 36,223 hundred million, a broad signal of demand for semiconductor equipment heading into the quarter.

In Europe, SAP posts its Q3 results today. The German software group trades at a premium valuation, making the numbers unusually price-sensitive.

Musk Merger Noise and Starlink

Elon Musk confirmed Tesla-SpaceX merger committees in pre-market, pulling options traders in both directions ahead of the Tesla print. Separately, Musk said Starlink is "rewriting telecom with entirely new pieces," directly challenging T, VZ and TMUS. The carriers pushed back, but the comment added to the day's noise around the Musk empire.

Oilfield Services Beat

WFRD narrowed its full-year 2026 sales guidance to $4.68 to 4.73 billion, above the $4.67 billion estimate. Q4 guidance of $1.28 to 1.33 billion also beat consensus. The Weatherford International print is an early read on oilfield services demand heading into year-end.

Index Radar

Nine names remain in play for deletion from the MSCI World after the 19 October rank date closed. XRO sits closest to the exit, just 2.3% above the deletion line with $418 million of forced selling at stake. The announcement falls on 11 November. PBF sits on a knife-edge at the Russell 1000/2000 border, just 0.2% from the line in either direction, with the 30 October cut-off deciding its fate.