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$6.51 trillion

The amount in U.S. money market funds as of the latest ICI data on October 23, a new record and up from $6.13 trillion just three months ago. The total amount of cash in these ultra-short-term, high-yielding vehicles has increased 41% from just two years ago. Extended valuations in the stock market and concerns of rising yields might explain the persistence of the cash buildup. Optimists might view such a large amount of cash as dry powder to be deployed in future market corrections.

18.9%

Tesla’s (TSLA) automotive gross margin in the third quarter, the highest quarterly reading since 4Q22. The EV maker benefited from lower raw material costs, unexpected Cybertruck profitability, and what seems to be stabilizing pricing for its most popular models. In the analyst call following last Wednesday’s results, CEO Elon Musk forecast between 20% and 30% growth in vehicle sales in 2025. TSLA shares gained 21% last week after a recent bout of weakness following an underwhelming robotaxi event on October 10.