Elon Musk asks Tesla investors to approve $1T pay package, rising oil prices pressure bonds

Group 1: Tesla - Tesla reported third quarter revenue of $28 billion, a 12% increase year-over-year, but operating profit fell 40% to approximately $1.6 billion, with earnings per share below expectations [6][7][5] - CEO Elon Musk urged shareholders to approve a $1 trillion pay package during the earnings call, emphasizing the need for sufficient voting control to maintain his position [10][12][15] - The company is testing a robo taxi service in the Bay Area and plans to expand to 8 to 10 metro areas by year-end, although Musk's cautious tone regarding progress may have dampened investor expectations [8][9] Group 2: Airlines - American Airlines reported a narrower loss than expected and raised its profit outlook for the full year, driven by strong demand in corporate and premium leisure travel [2][36] - Southwest Airlines posted a surprise profit and record operating revenue, attributing success to new initiatives like charging for checked bags and implementing assigned seating [40][41] - The airline expects continued strong demand and anticipates record holiday revenue, with a focus on enhancing customer experience through various service improvements [57][45] Group 3: Oil Prices and Economic Impact - Oil prices surged following new sanctions imposed by the U.S. on Russia's largest oil companies, which may affect global supply and economic conditions [4][20] - The bond market is reacting to rising oil prices, with a noted correlation between oil price increases and bond yield fluctuations, particularly in the context of the ongoing government shutdown [17][21] - Economic data has been sparse due to the government shutdown, leading investors to rely on alternative indicators such as oil prices to gauge market conditions [19][22] Group 4: Honeywell and Dow - Honeywell exceeded third quarter earnings expectations and raised its full-year profit outlook, driven by a 15% sales increase in its aerospace unit [37][38] - Dow reported a reduced loss per share of $0.19, an improvement from the previous quarter, although it faced an 11% decline in packaging and specialty plastics revenue year-over-year [39]