Tesla tried to cozy up to a mining giant | China's still struggling |

Hi Finimizer, here's what you need to know for November 1st in 3:09 minutes.

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Today's big stories

  1. Tesla explored closer ties with mining giant Glencore in a bid to shore up vital mineral supplies
  2. Here's why this year could soon get better for stocks – Read Now
  3. China’s economy showed more signs of weakness last month

Digging For Blue Gold

Digging For Blue Gold

What’s Going On Here?

Leading electric carmaker Tesla held talks with Swiss mining giant Glencore about taking ownership in the company, according to details out on Monday.

What Does This Mean?

Tesla’s already cemented a deal to buy cobalt – a key ingredient in EV batteries – from Glencore, but it looks like the OG electric carmaker was recently angling for a direct stake. That could’ve been a savvy move: a lot of the materials used to make EV batteries are found in less stable parts of the world, and this year’s war in Ukraine has shown us how quickly supply chains can be disrupted by geopolitical instability. Tesla, then, might have been looking to one of the world’s biggest mineral producers in a bid to further shore up supply. But it seems like Glencore’s coal mining activities – a blow against Tesla’s decarbonization goals – stopped any deal from getting over the line: Musk might be many things, but a hypocrite isn't one.

Why Should I Care?

Zooming in: Focus, Elon.
Tesla’s always been a bit of a one-man show, and shareholders are getting worried that the one man in question is more focused elsewhere: Twitter. So the news that Tesla was lining up a stake in Glencore will do little to calm those nerves. After all, Musk does nothing by halves, and a minority stake might have just been the beginning.

Zooming out: Two birds, one stone.
Extracting materials for EV batteries is dirty business, so buddying up to mining firms might seem like a seedy slant for Tesla’s image. But if Musk uses any potential involvement to push the ugly business in a less ugly direction, he could fix an ongoing supply chain problem and try to tidy up the industry’s image in one fell swoop.

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Analyst Take

Five Things That Could Drive Stocks Higher This Year

Five Things That Could Drive Stocks Higher This Year

By Luke Suddards, Analyst

In investing, you always want to look for opportunities where the upside potential looks bigger than the downside.

And at its current levels, the S&P 500 may be one of those – at least for the next few months.

So you’ll want to take a look at the five factors that are likely to drive the key US stock index higher between now and the end of the year.

That’s today’s Insight: the five things that could drive stocks higher for the rest of this year.

Read or listen to the Insight here

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Country Overboard

Country Overboard

What’s Going On Here?

Data out on Monday showed more signs that the Chinese economy’s lost at sea.

What Does This Mean?

China’s economy has been stuck in a long, dark tunnel, and there’s still no light in sight. See, monthly surveys ask companies’ managers how busy they’ve been compared to the month before, and give an almost real-time snapshot of economic performance. And last month’s results are less than encouraging: both China’s manufacturing and services sectors saw business activity shrink even more than economists expected.

China can partly blame the faltering global economy for the dip, but a lot of the onus lies closer to home. The country’s complete devotion to its zero-Covid stance is still causing trouble, with separate survey data out last week showing that locked-down locations make up nearly 10% of China’s economic output, up from 7% in mid-October. So while the People’s Republic did manage to grow more than expected last quarter, it might struggle to repeat that this quarter.

Why Should I Care?

The bigger picture: Self-fulfilling prophecy.
There’s no sign of that anti-Covid commitment wavering anywhere soon – if anything, China’s upping the ante. The country’s triggered more restrictions since the survey wrapped up last week, and there might be more to come: China recorded its biggest nationwide Covid surge since August over the weekend, and the winter months ahead could be a breeding ground for new cases too. And because economists are betting that the government will take a long time to phase out its zero-Covid policy, they expect China’s economic growth to stay capped below 5% each year until 2024.

Zooming out: Apples for Christmas.
Those on-again, off-again lockdowns are restricting the companies that manufacture in China too. Case in point: the biggest iPhone production plant in the country is grappling with potentially production-hampering outbreaks. That’s bad timing for Apple: the tech giant only recently released the iPhone 14, which it’ll be hoping will be one of the must-have gifts this festive season – if there’s enough to go around, that is.

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💬 Quote of the day

“Another belief of mine: that everyone else my age is an adult, whereas I am merely in disguise.”

– Margaret Atwood (a Canadian poet, novelist, and teacher)
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🥳 Coming Up This Week…

All events in UK time.

🎨 How To Buy And Sell NFTs: 6pm November 1st
🤑 Asset Allocation For Young Investors: 5pm, November 2nd
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😎 How To Build A Portfolio Ready For The Next Decade: 1pm, November 3rd

👀 And After That…

💰 Strategies For Market Volatility: 1pm, November 8th
🔧 Tools Value Investors Use For Turbulent Times: 6pm, November 10th
🌍 How To Build An Eco-Friendly Crypto Portfolio: 1pm, November 14th
3️⃣ Three Investment Themes You Need To Know Now: 5pm, November 16th
🚀 Modern Investor Summit: 12pm, December 6th – 7th

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