Traders work on the floor of the New York Stock Exchange during afternoon trading on July 18, 2023 in New York City.
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This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
More mixed markets U.S. stocks closed Friday mixed. The Nasdaq Composite was the only major index to fall. The pan-European Stoxx 600 rose 0.3%, with household goods adding 1.2% to lead gains — possibly aided by the news that U.K. retail sales in June rose 0.7% month over month, higher than the 0.2% estimate.
Bye China, buy Tesla Cathie Wood’s Ark Innovation ETF has completely exited stocks that generate revenue from China, the famed tech investor revealed Thursday. That means shares like Tencent and KE Holdings are out — and the fund’s holdings of Wood’s favorite bets like Tesla, Coinbase and Roku are further consolidated. Wood might be on to something: ARKK is up more than 50% this year.
Booming U.S. economy? Morgan Stanley has made a “sizeable upward revision” to its estimates for the U.S. economy. The bank expects GDP to grow 1.9% for the first half of this year, almost four times the original forecast of 0.5%. For the second half, the bank thinks GDP will grow 1.3%, compared with 0.6%. Joe Biden’s Infrastructure Investment and Jobs Act is “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley.
Demand for oil Oil prices might spike in the second half of the year as supply fails to keep up with demand, Secretary General of the International Energy Forum Joseph McMonigle told CNBC. “India and China combined will make up 2 million barrels a day of demand pick-up in the second half of this year,” he said. However, McMonigle thinks OPEC+ will respond to a “big supply-imbalance.”
[PRO] Fully packed week This week’s packed full of economic data releases and earnings reports, and will see the Federal Reserve meet to decide on the path of U.S. interest rates. CNBC Pro’s Sarah Min breaks down what analysts are expecting and how they are positioning their portfolios to deal with the heavy week.
First, the numbers. The S&P and the Dow were essentially flat, while the Nasdaq Composite lost 0.22% Friday. (Technically, the Dow squeezed out a 0.01% gain to give it a 10-day winning streak, but that figure’s so negligible I don’t think it’s worth making a big fuss over it.)
On a weekly basis, the S&P advanced 0.79%, the Nasdaq fell 0.57% — but the Dow gained an impressive 2.08%.
A large part of the Dow’s showing was because of how the index is composed and calculated. It includes just 30 stocks, ostensibly chosen to represent the broader U.S. economy. To give an example, Goldman Sachs and JPMorgan Chase represent banks; Apple and Microsoft show up for technology; Nike and Procter & Gamble stand in for consumer goods.
The Dow’s other key difference from the S&P and Nasdaq is that it is price-weighted, that is, the more expensive the stock, the bigger its influence on the index. Conversely, the other two major indexes are capitalization-weighted, meaning that the higher the total value of the company’s total shares, the more sway it has in moving the index.
Now, let’s look at Friday’s stock movements.
Nvidia slumped 2.66%. It has a market capitalization of over $1 trillion. Unsurprising, then, that it had the biggest negative impact on both the S&P and Nasdaq. The Dow? The index doesn’t even include Nvidia, so it was spared.
The Dow, on the other hand, benefited from gains in firms like UnitedHealth and Goldman Sachs. Their stock prices are high — around $500 and $350 per share, respectively — but their total market capitalizations are comparatively low. Those gains wouldn’t register much on the S&P and Nasdaq, but boosted the Dow.
What does this all mean? Honestly speaking: Not much. According to CNBC’s calculations, over the past 15 years, the Dow and the S&P have moved in the same direction 94% of the time. So while it’s true the major indexes have diverged as of late — this week aside, the Nasdaq is leading by a 34% increase for the year, the S&P 18% and the Dow a meagre 6% — in the long run, it shouldn’t really matter what index you’re tracking. The lesson here? Don’t take short-term blips as long-term trends.
Lotus Cars’ compelling, high-performance electric sports sedan and SUV received a number of fresh updates earlier this week, but packs superior infotainment tech, styling tweaks, and (of course) a mind-bending 905 electric horsepower. (!)
The next update on the list is the addition of 22″, 10-spoke ultralight alloy wheels across the entire Eletre lineup. Both the 600 and 600 SE variants retain last year’s 6-piston fixed front and floating rear brake calipers, while the top-tier 900 model gets a high-performance, 10-piston, carbon-ceramic braking system that’s more than capable of hauling the Eletre SUV down from speed, lap after lap.
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They’ll need those brakes, too – because these things are fast, and getting faster with seemingly every new software update. “Things can always go faster,” reads the official Lotus copy. “The new Eletre and Emeya ‘900’ provide unmistakable evidence, representing superlatives in terms of performance. Both rely on a 675 kW (~915 hp) strong dual-motor powertrain.”
Both Lotus 900s can put that power to the ground effectively enough to rocket from 0-62 mph (100 km) in a well under 3.0 seconds on their way to an electronically-limited top speed of 155 mph (256 km/h) in the Eletre, and 160 mph (265 km/h) in the Emeya. The 600s aren’t exactly slow, either, packing 405 kW electric motors (~600 hp) good for 0-60 times in the mid 4s.
Inside, the Eletre and Emeya designs carries over without major changes. Lotus enhanced the features list on various trims. The 600 models now include 12-way power-adjustable front seats with heating and ventilation, as well as 15-speaker audio systems from KEF. The 600 SE further adds a PDLC smart panoramic sunroof, 20-way power-adjustable front seats, front seat massage function, and active rear-wheel steering.
CarNewsChina reports that the updated 900 model builds upon the 600 SE’s new offerings with an intelligent, active anti-roll control suspension system.
Pricing for the 2026 Lotus EVs starts at 538,000 yuan (74,800 USD) in China, and climbs to over 838,000 yuan (116,500 USD) for the top-shelf Lotus Eletre 900 SUV. All models carry the same two-speed transmission and 112 kWh battery (102 kWh in the UK), good for up to 610 km (~375 miles) of driving between charges.
It wasn’t that long ago that a 900+ hp car was a cammy, rough-riding mess of a machine that you could barely take through a drive thru, but could probably land on the cover of a car magazine. Today, that same 900 hp in a quiet, smooth, reliable EV hardly generates a headline. And, almost in defiance of the “everything just keeps getting more expensive” truism, these mind-bending supercars can be had for less than what cars like this used to cost with gas engines and a third of the power.
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The welding equipment experts at Lincoln Electric know a thing or two about high-voltage equipment. Now, they’re bringing that electrical expertise to a whole new market with a portable, self-contained, 50 kW DC fast charger designed to deliver a quick shot of range and get stranded drivers back on the road.
Lincoln Electric’s Velion 50 kW DC fast charger is pitched as a durable, compact mobile charging unit that’s perfect for tow truck operators and construction fleets dealing with vehicles and fleet assets that couldn’t quite make their way back to a charger. So, you’re looking at this and thinking of one of those red, 5-gallon gas tanks that helps get drivers off the highway and to the next exit, congratulations: you get it!
“[Velion is] Designed for flexible, mobile use,” said Bruce Chantry, Vice President, Electric Vehicle Solutions at Lincoln Electric, during a buzzword-packed introduction of the new machine. “Designed in collaboration with the market and leveraging decades of expertise in power electronics, our solution is engineered to provide the flexibility customers need today, with a future-ready design to meet the demands of tomorrow.”
Designed, engineered, and assembled in the United States with over 70% domestic content, the Velion charger meets all National Electric Vehicle Infrastructure (NEVI) and Build America, Buy America (BABA) requirements.
Lincoln Electric plans to sell the Velion DCFC to municipal fleets and state highway agencies, first, and envisions it being deployed in tough environments like construction sites, emergency response arenas, and complex fixed fleet depots. Car dealerships, museums, and probably ambulances too, could benefit – but I’m sure that’s just scratching the surface.
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Watch the Lincoln Electric launch video for the Velion from earlier this summer, below, then let us know how you’d like to see a mobile fast charger get deployed in the comments section at the bottom of the page.
Lincoln Electric Velion DCFC
Velion 50 kW mobile charger; via Lincoln Electric.
The company hasn’t announced pricing or battery energy capacity (in kWh) for the new Velion, but I’d guess it’s something higher than 15 kWh, but less than 20. If you guys have a better guess, I’d love to hear it!
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Electric vehicles have come a long way, but let’s be real—they still have their hangups: “range anxiety,” long charging times, and questions about safety and sustainability. But what if all those worries could be put to rest?
At IAA Mobility in Munich, CATL, one of the world’s biggest battery makers, unveiled a new technology that could revolutionize EVs.
Shenxing Pro: Go Far, Last Long
CATL debuted two versions of its next-gen Shenxing Pro battery. One is all about distance and durability. Picture this: a single charge gets you up to 758 km (or about 470 miles). That’s enough to drive from Houston to Memphis without a single stop. And it’s not just about the distance; this thing is built to last. It promises a lifespan of 12 years or 1,000,000 km, with only around 9% degradation after 200,000 km. That’s a huge leap from today’s EV batteries, which often lose up to 30% of their capacity over the same period.
Fast Charging, Even When It’s Freezing
Tired of waiting around for your car to charge? The second version of the Shenxing Pro is for you. It’s the Super Fast Charging model, designed to get you back on the road in minutes. CATL says it can add a whopping 478 km of range in just 10 minutes under perfect conditions. And here’s the best part: it holds its own in the cold. We all know how much cold weather messes with most EV batteries, but the Shenxing Pro still delivers up to 410 km of range in just 20 minutes at a chilling -20°C. That’s better than many EVs perform in normal temperatures!
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No Propagation 3.0: Safety First
Safety is a top concern with EV batteries, especially the risk of thermal runaway—that’s when one cell overheats and triggers a dangerous chain reaction. CATL’s new No Propagation 3.0 platform is engineered to stop that domino effect cold. It uses special fireproof coatings and a cell structure that quickly cools down and relieves pressure. In the rare event of a problem, the battery can still provide stable power for over an hour. That extra time is a lifeline, giving drivers the chance to get to safety and ensuring critical systems like advanced driver-assistance features stay online when you need them most.
Getting Greener, At Scale
CATL is also tackling the sustainability issue head-on. Through a new initiative called the Global Energy Circular Commitment (GECC), they aim to cut the use of new raw materials by half over the next two decades. They’re already a leader in this space, operating the world’s largest battery recycling network. Since 2024, they’ve recycled over 130,000 tons of used batteries, recovering 99.6% of crucial metals like nickel, cobalt, and manganese.
The Whole Package
What’s so impressive about the Shenxing Pro isn’t just one feature—it’s everything working together. By improving range, charging speed, safety, and sustainability all at once, CATL isn’t just fixing a single problem; they’re taking on the biggest obstacles to widespread EV adoption. If these batteries live up to the hype, the next wave of EVs could be more efficient, more reliable, and a whole lot greener.
The bottom line? CATL’s latest battery tech in tandem with other commitments could prove to be the building blocks for the next wave of EVs in Europe and beyond.
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