1h agoThu 6 Nov 2025 at 8:29pm
Market snapshot
- ASX 200 futures: flat at 8,842 points
- Australian dollar: -0.4% to 64.80 US cents
- S&P 500: -0.6% to 6,747 points
- Nasdaq: -1.3% to 23,190 points
- FTSE: -0.4% to 9,735 points
- EuroStoxx: +0.2% to 567 points
- Spot gold: flat at $US3,981/ounce
- Brent crude: flat at $US63.54/barrel
- Iron ore: -1.2% to $US103.55/tonne
- Bitcoin: -2.4% to $US101,081
Prices current around 7:25am AEDT.
Live updates on the major ASX indices:
3m agoThu 6 Nov 2025 at 10:16pm
Tesla expects to start robotaxi production in April
Musk has moved on to talk about full self-driving cars.
He says Tesla’s robotaxi, called Cyber Cab, will begin production in April.
8m agoThu 6 Nov 2025 at 10:10pm
More than 75% of Tesla stock voted in favour of Musk pay deal
If you’re just joining us, Tesla shareholders have voted overwhelmingly in favour of a pay deal that could make CEO Elon Musk the world’s first trillionaire in the next decade.
According to the preliminary tally, more than 75% of Tesla stock was voted in favour of the pay proposal.
Tesla shares are rising in extended trade.
13m agoThu 6 Nov 2025 at 10:05pm
Hang onto your Tesla stock: Musk
Musk is really musing at this point, now talking about a future beyond money.
“I guess what I’m saying is, ‘Hang on to your Tesla stock’,” he laughs.
16m agoThu 6 Nov 2025 at 10:02pm
Optimus will be the biggest product of all time: Musk
Elon Musk is mainly talking about Tesla’s Optimus humanoid robots so far.
He says it will be “the biggest product of all time by far… bigger than cell phones”.
He’s talking about “tens of billions” of the robots being out in the world.
He says it could eliminate poverty and “give everyone amazing medical care”, as it would be better than the best human surgeon.
“I think that’s a pretty wild concept,” Musk says. That we can agree on.
21m agoThu 6 Nov 2025 at 9:57pm
Humanoid robots are dancing
This really isn’t what I expected to spend my morning watching.
Elon Musk says he “super appreciates it”, in response to shareholders approving his up to $US1 trillion pay package.
23m agoThu 6 Nov 2025 at 9:56pm
Elon Musk is taking the stage
23m agoThu 6 Nov 2025 at 9:55pm
Tesla shareholders approved Musk pay deal
Preliminary results show shareholders have overwhelming voted in favour of Elon Musk’s up to $1 trillion pay package.
The crowd at the meeting cheers and a brief chant of “Elon, Elon” breaks out.
Board directors who were up for re-election have also been re-elected.
25m agoThu 6 Nov 2025 at 9:53pm
Tesla polls have closed
Preliminary results are being read out.
26m agoThu 6 Nov 2025 at 9:52pm
Shareholder proposals continue to be outlined
A slew of shareholder proposals are being outlined, most critical of a lack of independence on the Tesla board and proposing to rectify this.
One investor calls Tesla, Elon Musk’s “liquid piggy bank that fuels his other ventures”.
32m agoThu 6 Nov 2025 at 9:46pm
Tesla shareholder meeting is underway, and it’s not all a Musk love-in
It’s not all about Elon Musk’s potential trillion-dollar payday either.
There is a shareholder proposal that seeks to restore shareholder rights to sue Tesla management and the board for failing to act in shareholder interests after the company passed bylaws limiting those rights after moving its registered headquarters to Texas.
Thomas DiNapoli, New York State Comptroller, as trustee of the New York State Common Retirement Fund, which owns more than 3.3 million shares, spoke in favour of this resolution.
“As soon as Texas offered an opportunity to do so, the new bylaw allowed Tesla to block nearly every investor from bringing a derivative suit unless they hold 3% of the company’s stock. Currently about $30 billion in Tesla shares,” he said.
“That threshold leaves only Elon Musk and a handful of giant Wall Street funds with any legal standing to act on their own. It effectively makes the board immune from accountability.
“Tesla claims this rule is meant to discourage frivolous lawsuits, but courts already have tools to dismiss meritless cases. This bylaw doesn’t stop abuse. It stops proper oversight, and it tells shareholders that the board no longer wants to be answerable to them. Our proposal simply seeks to repeal that bylaw and restore accountability. It ensures that if directors violate their duties, all investors still have a power to protect the company’s long term value.
“Unfortunately, this attack on shareholder rights is part of a larger pattern at Tesla.
“We see a board that lacks true independence. The board has allowed our CEO to divide his attention among multiple outside ventures, and then offer to pay a proposal that could hand him $1 trillion windfall and even more unchecked power. These are not isolated issues. They all stem from the same problem. A board that refuses to act as an independent check on management.
“Tesla has changed the world through innovation. But no company, no matter how visionary, can thrive without accountability. Strong governance protects investors and strengthens companies over time.”
1h agoThu 6 Nov 2025 at 9:15pm
Wall Street closes, stocks dip again in late trade
While the major US indices closed off the session lows, it was still firmly a negative finish.
Here’s how they ended:
- Dow Jones Industrial Average -0.8%
- S&P 500 -1.1%
- Nasdaq -1.9%
1h agoThu 6 Nov 2025 at 9:07pm
Tesla shareholder meeting not underway just yet
At least on the web stream, the meeting is yet to kick off.
Just enjoying some relaxing techno music from the feed so far.
1h agoThu 6 Nov 2025 at 9:06pm
Record spending expected this Black Friday
Australian shoppers are expected to spend a record $6.8 billion over the Black Friday–Cyber Monday weekend, up 4% from last year, according to Australian Retailers Association (ARA) and Roy Morgan.
They expect around 6 million Australians will take part in the four-day sales this year, with women making up more than half (3.5 million) of the group.
But men ($882) are likely to spend more than women ($750) on a per person basis.
Survey by the ARA and Roy Morgan shows 42% of the shoppers are motivated by low prices and 25% of them want to save money on Christmas gifts.
Separate research by Deloitte suggests participation in Black Friday is also growing among retailers, with 44% of them expected to take part this year, up 3% from 2024.
ARA CEO Chris Rodwell says the shopping event plays a vital role in boosting the sector.
“Black Friday has firmly cemented its place on Australia’s retail calendar — delivering critical cashflow to discretionary retailers and small businesses who’ve faced subdued consumer activity for the past two years.”]
Loading1h agoThu 6 Nov 2025 at 8:45pm
Tesla targets small investor to support Musk trillion-dollar deal
There’s an interesting dynamic at play in Tesla’s investor ranks, which is that it has a large cohort of retail or so-called ‘mum and dad’ investors.
So while some high-profile proxy advisory firms and pension fund have said they intend to vote ‘no’ to Elon Musk’s potential trillion-dollar pay deal, the electric vehicle maker has been staging a campaign seeking to directly influence smaller shareholders.
Vote Tesla website (Tesla)
Of course, Musk himself is also a major shareholder, with about 15% of the stock.
1h agoThu 6 Nov 2025 at 8:35pm
Effect of rate moves blunted by offset accounts and household savings
Some fresh research from economic think tank e61 suggests the Reserve Bank is having to work harder for its interest rate policies to influence the economy.
The study used a comparison between people on variable and fixed rate loans to show that the RBA’s steep rate rises during 2022 and 2023 had surprisingly little effect on spending by those most directly exposed to them.
“Despite a sharp rise in required repayments, variable-rate borrowers spent just as much as those on fixed loans.
“Over 18 months, their mortgage payments rose by about $14,000 on average, yet their monthly spending barely moved,” the report finds.
So how did these borrowers keep spending?
“Roughly 70% of that increase in repayments was financed from savings held in offset and redraw accounts, with most of the rest coming from other funds.
“In other words, households dipped into buffers they had built up during the pandemic, rather than cutting consumption.”
The authors argue that Australia’s relatively unique system of “offset accounts”, which effectively act as tax-free high-interest savings accounts, were a key factor allowing mortgage borrowers to stash away government stimulus during the low-rate good times of 2020 and 2021.
“At its pandemic peak, the household sector saved close to 5 per cent of disposable income through scheduled and excess mortgage payments.
“When rates rose, that ‘rainy day’ saving became a ready-made cushion.”
(e61)
However, e61 finds that this ability to stash away extra cash also means that spending doesn’t appear to be rising as much as expected in response to this year’s interest rate cuts.
“In short, the borrower cash flow channel of monetary policy may have weakened in both directions. The resilience that helped households weather higher rates may also dull the stimulus from lower ones.”
1h agoThu 6 Nov 2025 at 8:26pm
What time is the Tesla shareholder vote?
The Tesla annual general meeting is in Texas mid-afternoon US time, so it’ll be 8am AEDT when proceedings get underway.
Proceedings are being webcast so we’ll bring you live updates as it unfolds.
Elon Musk’s pay package isn’t the only resolution shareholders will be voting on but (expectedly) it’s the one garnering the most attention.
1h agoThu 6 Nov 2025 at 8:26pm
Wall Street down as tech stock slide continues
