56m agoWed 23 Jul 2025 at 9:35pmMarket snapshotASX 200 futures: -0.3% to 8,721 pointsAustralian dollar: flat at 65.99 US centsS&P 500: +0.8% to 6,358 pointsNasdaq: +0.6% to 21,020 pointsFTSE: +0.4% to 9,061 pointsEuroStoxx 600: +1.1% to 550 pointsSpot gold: -1.3% to $US3,387/ounceBrent crude: +0.1% to $US68.67/barrelIron ore: +0.2% to $US100.00/tonneBitcoin: -0.3% to $US117,707
ASX 200 futures: -0.3% to 8,721 pointsAustralian dollar: flat at 65.99 US centsS&P 500: +0.8% to 6,358 pointsNasdaq: +0.6% to 21,020 pointsFTSE: +0.4% to 9,061 pointsEuroStoxx 600: +1.1% to 550 pointsSpot gold: -1.3% to $US3,387/ounceBrent crude: +0.1% to $US68.67/barrelIron ore: +0.2% to $US100.00/tonneBitcoin: -0.3% to $US117,707Prices current around 7:30am AEST.
Live updates on the major ASX indices:
9m agoWed 23 Jul 2025 at 10:22pmTesla says production on affordable model to ramp up later this year
When delivering its quarterly results this morning, Tesla has confirmed that it has built initial versions of an affordable car, which analysts expect could help the company stem the steep decline in sales its seen globally.
The electric vehicle maker said it expects volume production of the long-promised cheaper vehicle in the second half of this year, raising hopes it will rekindle demand as it battles rising competition from cheaper EVs, especially in China, and a persistent backlash against boss Elon Musk’s political views.
Tesla chief financial officer Vaibhav Taneja said on a call with investors that production of the cheaper car would ramp up next quarter, slower than initially expected, and the company did not provide an update on its full-year deliveries forecast.
“Tesla’s disappointing results aren’t surprising given the rocky road it’s travelled recently,” said Emarketer analyst Jacob Bourne.
 “A truly affordable model will hit the bullseye in terms of boosting sales if Tesla can effectively position it right without detracting from its higher-priced models.”
Reporting with Reuters
21m agoWed 23 Jul 2025 at 10:10pmTesla share price falls 2 per cent in after-hours trade
As Elon Musk and Tesla’s chief financial officer have been addressing investors, we’ve seen the company’s share price decline in extended trading, losing around 2 per cent.
29m agoWed 23 Jul 2025 at 10:02pm
Elon Musk talking about Tesla’s Optimus robot
Elon Musk has been asked about the company’s humanoid robot Optimus.
He says he’s much more confident predicting five years ahead, versus the next year or two.
He forecasts that Tesla will be producing 100,000 Optimus bots a month in five years’ time.
38m agoWed 23 Jul 2025 at 9:54pm
Impact of tariffs ‘unpredictable’: Tesla CFO
Tesla chief financial officer Vaibhav Taneja is speaking now.
He’s calling out the uncertainty Donald Trump’s tariffs and “Big Beautiful Bill” have created for the company.
“We are in an unpredictable environment on the tariff front,” he said.
“We are seeing customers willing to accept some of the impact from tariffs,” Mr Taneja noted, referring to its energy business.
43m agoWed 23 Jul 2025 at 9:48pmTesla’s Musk says naysayers have “egg on their face”
Tesla boss Elon Musk is currently speaking at the company’s second quarter results briefing.
“So far 2025 has been a very exciting year,” he said, saying there’d been “demonstrable” progress on autonomous vehicles.
“Doesn’t mean we’re always on time but we get it done… naysayers are sitting there with egg on their face.”
“I think Tesla has a shot at being the most valuable company in the world,” he added.
It comes after the electrical vehicle maker posted a 12 per cent fall in quarterly revenue, the steepest decline in more than a decade.
50m agoWed 23 Jul 2025 at 9:41pmTariff deal hopes buoy global stocks
Yesterday’s news that the US and Japan had struck a trade deal, first revealed by Donald Trump on his social platform, gave stocks a boost on Wednesday.
The ASX 200 added 0.7 per cent yesterday, while the Nikkei 225 surged 3.5 per cent.
“Risk assets rallied in Asia yesterday following the US-Japan trade deal… and extended overnight on growing expectations of a similar deal with the EU,” NAB’s head of market economics Tapas Strickland wrote in his morning note.
“The details of the US-Japan trade deal were taken very positively. The tariff rate of 15 per cent is lower than the 25 per cent which was initially threatened.”
With August 1 just over a week away, we expect to see more deal making news — you can open up our politics blog in a new tab for local developments, including the government lifting Australia’s ban on US beef imports.
59m agoWed 23 Jul 2025 at 9:32pmTesla revenue slumps, Bullock address ahead
Good morning. I’ll be joining you on the blog this morning and it’s shaping up to be a fairly busy one.
We’ve got a strong lead for the local share market after Wall Street climbed overnight. The Dow added 1.1 per cent.
The gains on the ASX may be more modest, with local futures up around a quarter of a per cent. But early days.
Overnight, electric vehicle maker Tesla reported its quarterly results, which missed analyst expectations — its revenue slumped 12 per cent.
Better news for Google owner Alphabet, which reported quarterly revenue ahead of estimates and increased its spending plans, citing demand for cloud services and AI.
Locally, Reserve Bank governor Michele Bullock will deliver a keynote address at about lunchtime (1:05pm AEST to be precise).
Stick with us!
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