Five Things You Need to Know to Start Your Day: Americas

Good morning. Tesla’s shares soar on its plans to roll out cheaper cars as soon as this year, Meta is set to report earnings and there’s another record Treasury auction coming up. Here’s what people are talking about. — Sofia Horta e Costa

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Tesla’s shares are up almost 11% in early New York trading, indicating the stock will recoup some of the 42% it has lost since the start of 2024. The company said it’s accelerating the launch of cheaper cars, aiming to start production of new models by early 2025, if not before year-end — well ahead of the late-2025 timing it had previously pledged. The news was enough to offset Tesla’s third quarter of worse-than-expected profit and revenue. The team at Jefferies said CEO Elon Musk seems to be “appeasing the market by accelerating new product launches.” Oh and Martin Viecha, Tesla’s head of investor relations, announced his resignation at the end of yesterday’s analyst call.