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VRA Letter: Q3 Earnings Underway. PPI Beat. Gold/miners Jump. Tesla Launches the Cybercab, Robovan and Optimus.

Good Friday morning. Brief update from the road.  Q3 earnings kicked off this AM with major money center banks JP Morgan and Wells Fargo posting results that the markets seem to like, based on early trades. JPM +1.5%, WFC +3.2% ...

Posted On October 11, 20243 MIN Read
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Good Friday morning. Brief update from the road. 

Q3 earnings kicked off this AM with major money center banks JP Morgan and Wells Fargo posting results that the markets seem to like, based on early trades. JPM +1.5%, WFC +3.2%. Blackrock also higher on earnings,+1.5%. 

We also got the PPI this AM, coming in with a beat for the month with producer prices flat. PPI rose 1.8% y/y.

Right on cue, gold rallied yesterday following the CPI report with the miners (GDX) jumping 2.8% and with VRA Buy Rec NUGT (2 x Miner ETF) posting gains of 5.7%. 

Tesla Launches the Robocab 

In a splashy (if detail light) futuristic event, Musk and team launched the RoboCab last night. I encourage everyone to watch...the future is arriving. When you go to this Tesla link fast forward one hour (yes, it was an hour late getting underway).  

https://x.com/Tesla/status/1843922599765590148

In addition to the 20 Robocabs (or Robotaxi) that Musk had driving around for attendees to experience, Tesl...

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