Analysts and investors are eagerly awaiting Elon Musk’s big reveal—a fully functional autonomous vehicle that could revolutionise ride-hailing.

Tesla’s stock has soared 52% since Musk first announced the event in April, reflecting high hopes for the launch of its much-anticipated robotaxi.

The vehicle, dubbed the “Cybercab,” is said to be a sleek, two-seater without a steering wheel or pedals—straight out of the future.

Tesla also teased a ride-hailing app that will summon these driverless cars to pick up riders at their chosen locations.

Not convincing

But not everyone is convinced—some analysts warn that while Musk’s vision is bold, the timeline for these innovations may not deliver immediate results.

Musk has a history of overpromising on autonomous tech, and this event might be more about grand ideas than tangible products.

Tesla first floated the robotaxi idea in 2016, with Musk hinting at a future where owners could lease their cars to others for extra income.

If the software keeps pace with Musk’s ambitions, the future of driverless Teslas might be closer than we think.

The core consumer price index (CPI) climbed 3.3% year-over-year in September, signalling continued inflationary pressure in the U.S.

Month-over-month, the increase was 0.3%, slightly higher than the expected 0.2%, raising concerns about the Federal Reserve’s ability to ease policy.

This latest inflation data narrows the Fed’s room to manoeuvre, making a significant rate cut at their next meeting less likely.

In other economic news, weekly U.S. unemployment claims have risen to 258,000.

Latest numbers

Ticker’s Ahron Young spoke with Steve Gopalan from SkandaFX about the latest numbers.

Steve Gopalan discusses the impact of rising unemployment claims, inflation, and geopolitical tensions on the market, including the potential effects of Israeli strikes on Iran and China’s policies.

He also addresses expectations for the Fed reserve rate cut and near-term risks affecting the Australian economy and talks about how traders are preparing for China’s Finance Minister news conference on fiscal policy.

The increase in claims is partly attributed to the impact of Hurricane Helene and furloughs at Boeing.

Economists are closely watching how these factors will play into broader economic trends.

With inflation rising and unemployment numbers fluctuating, the economic outlook remains uncertain.

Tehran is threatening to target oil-rich Gulf states and other U.S. allies if their territories are used in any attack on Iran, Arab officials reveal.

Israel has warned Tehran of severe consequences after a recent barrage of Iranian ballistic missiles hit the country. In response, Iran vows to strike Israel’s civilian infrastructure and any Arab state that aids in the assault.

Countries like Jordan, the UAE, Saudi Arabia, and Qatar have already expressed concerns to the Biden administration, saying they don’t want to be part of any offensive actions against Iran.

These Gulf states, traditionally under U.S. protection, fear Iran could target their vital oil facilities if the conflict escalates.

With U.S. troops stationed across the region, officials are on high alert as Tehran’s threats loom over an area packed with American military personnel.

Tensions between Israel and Iran continue to rise, with both sides exchanging warnings of devastating consequences.

The energy-rich Persian Gulf, known for its stability under U.S. protection, could now be at risk as the situation remains tense.

The eyes of the world are focused on the region, as threats of conflict keep mounting.