TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Tesla has reason to celebrate.
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00:00I'm Conway Gittins reporting from New York. Here's what we're watching on the street today war and walkouts
00:05Those were the two dominant themes behind a volatile session on Wednesday
00:09But jobs were a close third private hiring rose for the first time in six months
00:15Suggesting a labor market that is holding its own data from payroll processing company ADP showed
00:22143,000 new jobs in September
00:24Investors will get more jobs info Thursday with the weekly update on jobless claims and a look at the health of the mighty services sector
00:33Turning now to other business headlines
00:35Tesla has done something that it hasn't done all year
00:38The third quarter was the first quarter in 2024. The electric car maker saw a sales gain
00:46463,000 Tesla's were delivered globally between July and September
00:50That's up 6% from a year ago and up 4% from the April to June quarter
00:56The sales bump is a welcome relief as Tesla posted its first ever back-to-back sales drop earlier this year
01:04Those two losing quarters have put Tesla into an annual sales deficit year to date
01:09Tesla has sold 1.3 million vehicles. That's down 2% from the same time in
01:152023 Elon Musk could use a little bit of good news
01:18Even though Tesla set the trend and recently regained its spot as the world's top EV seller
01:24Competitors are coming on hard and fast
01:26Chinese automakers are eating into Tesla's market share in parts of Asia and in Europe
01:32BYD is nipping at Tesla's heels with year-to-date sales of 1.2 million
01:37Tesla however is a formidable challenger
01:40The Model Y overtook the Toyota Corolla as the world's most popular vehicle last year
01:45Becoming the first ever EV to take that prize
01:49That'll do it for your daily briefing from New York. I'm Conway Gittins with the street