NEWS

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The world's largest oil fields service company Schlumberger reported better than expected Q3 earnings Friday. Higher demand for its services and equipment, as producers capitalize on a rebound in crude and natural gas prices.

Natural gas futures rallied all week towards  the cycle high at $6.466 intraweek high after holding $5.393 on supply shortage fears remaining. U.S. LNG exports of LNG continue to grow. EIA reported a larger build of +92Bcf of working gas in storage.

Freeport-McMoRan, the world's biggest publicly listed copper producer more than than tripled its profit in Q3. Higher copper prices and an increase in demand for the metal at a time when copper inventories are plunging. $FCX has been repaying debt and distributing dividends from the surge in revenues.

Canadian National Railways reported a modest Q3 earnings beat. $CNI is not seeing labor issues and is in good shape from a labor standpoint which was a concern with investors after JB Hunt reported earnings. Fellow Canadian rail giant Canadian Pacific recently beat out CNI in merging with Kansas City Southern $KSU.

Tesla reported record  Q3 earnings after the market close Wednesday. $TSLA made $1.62bn in the third quarter, beating its old record $1.14bn last quarter. Tesla said it expects sales to grow an average of 50% annually.Gross automotive margins were 30.5%,up from 28.4% over the previous quarter.

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