Futures lower, Tesla deliveries, Levi Strauss shares dip - what's moving markets
Investing.com -- US stock futures pointed lower ahead of a new batch of economic data on Thursday. Investors took a cautious stance in the previous session, with the implications of Israel's potential retaliation to an Iranian attack earlier this week weighing on sentiment. Elsewhere, Tesla giant reported disappointing third-quarter deliveries despite slashing prices and offering fresh incentives to entice customers.
CEO Elon Musk has previously said Tesla, who has been strained by stiff competition and weak consumer demand for EVs, will increase its annual deliveries from an all-time high of 1.8 million last year. But, at its current pace, the group would need to report record-smashing deliveries in the fourth quarter in order to avoid seeing a dip in full-year deliveries.
In a statement, the San Francisco-based jeans maker said it had taken the decision to evaluate"strategic alternatives" for Dockers in order to address"the areas where we've underperformed." Levi Stauss also reduced its annual sales forecast, guiding for revenue growth of 1% compared to a prior outlook of 1% to 3%.Oil prices rose Thursday as the escalating violence in the Middle East raised concerns that crude flows could be disrupted from this key exporting region.Traders are waiting for Israel’s response to Iran firing more than 180 missiles into its territory, with analysts suggesting the country could target Iranian oil infrastructure.
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