The cartel of oil-producing countries and its allies will probably
continue to ramp up production regardless of what happens. That’s
according to a Bloomberg survey, which found most analysts believe
OPEC+ will boost oil output next year – even though it will likely end
up with an oversupply.
Add Tesla to the long list of American companies trying to separate
themselves from China. The Wall Street Journal reports the electric
carmaker is now requiring suppliers to exclude Chinese components
when building cars here in the U.S. Tesla has reportedly been
frustrated with changing costs amid the ongoing trade dispute
between the two countries.
On Wall Street, futures are mostly higher after what was a choppy few
days of trading last week. The Dow and S&P 500 eked out small gains
– though AI stocks suffered. Investors are gearing up for a huge week
of earnings reports. It’s headlined by the nation’s largest employer –
Walmart – and the leader of the AI trade – Nvidia.