Devon Drew, CEO and chief investment officer at DFD Partners, joined Cheddar News to discuss the state of the economy as the major indexes continue their positive trends. He also had a few suggestions for investors who are weighing risks. "On that same note with the banking crisis, you've seen money flow out of the banks and into money market mutual funds," Drew said. "From a sector perspective, looking at financials and looking at all the mid and smaller tier banks that could potentially be under similar stresses as we've seen from Credit Suisse and SVB and First Republic."

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Tesla’s profit fell in third quarter even as sales rose
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
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