CNBC Daily Open: An ‘immaculate disinflation’ amid uncertainty?

Published

2 years ago

September 19, 2023

admin

The New York Stock Exchange welcomes executives and guests of Ormat Technologies, Inc. (NYSE: ORA), on Sept. 6, 2023, to celebrate entering its 20th year of trading on the NYSE.

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

Bracing for Fed meeting
U.S. stocks were little changed Monday as traders await the Federal Reserve’s September meeting. Asia-Pacific markets retreated Tuesday. Australia’s S&P/ASX 200 slipped around 0.4% as minutes from the RBA’s last meeting revealed the central bank thinks inflation is still “too high.” Meanwhile, Japan’s Nikkei 225 slumped 1.1%, leading losses in the region.

Rare returns
Early-stage investing in China hasn’t been lucrative. Only four U.S. dollar-denominated venture capital funds established between 2015 and 2020 have returned investors the money they put in, according to data from Preqin, a research firm. The four firms are: Fengshion Capital Investment Fund, LYFE Capital USD Fund II and GGV Capital V.

Top of the shelf
Instacart priced its initial public offering at $30 a share, the top end of its expected range. That gives the grocery delivery company a valuation of about $10 billion, a figure around 3.5 times its annual revenue. By comparison, DoorDash, a competitor, trades at 4.25 times. Instacart’s the first venture-backed tech startup to list since December 2021, and will signal the health of the IPO market.

Monthly payment for X
X, previously known as Twitter, will charge users “a small monthly payment” to combat “vast armies of bots,” Elon Musk said. Musk also divulged that X has 550 million “monthly users” who generate 100 million to 200 million posts per day. Separately, Turkish President Recep Erdogan invited Musk to build his next Tesla factory in Turkey, reported the country’s state media.

Extra pricey olive oil
Olive oil prices have surged to $8,900 a ton this month amid severe droughts in the Mediterranean. That’s over 100% higher than the year before — and far higher than the record of $6,242 set in 1996, according to the U.S. Department of Agriculture. And with extreme weather not abating and supplies depleting, prices might continue climbing.

[PRO] Oiling up real estate
Oil prices are currently more than $90 per barrel, and could rise further on the supply cuts by Saudi Arabia and Russia. It’s natural to expect energy and oil firms to reap the rewards from this. But, rather surprisingly, two global real estate stocks could also benefit from higher oil prices, said Morgan Stanley.

The bottom line

Stocks barely budged yesterday. All major indexes ticked up, but the gains were so tiny — measured in the hundredths of a percentage point — that it’s better to think of them as unchanged. Trading volume was muted, too. Both the SPDR S&P 500 and the Invesco QQQ, which tracks the Nasdaq 100, traded around 25% fewer shares than their 30-day average.

It’s not that investors aren’t sure about what the Fed might do at its meeting Wednesday. They’re all but certain the central bank will keep interest rates the same for now, according to the CME FedWatch Tool. It’s the November meeting investors are fretting over. Currently, markets think there’s a 28.7% chance of a hike — but that percentage has reached as high as 50.89% in late August (and was 31.3% just five hours ago!). Those wild swings reflect the uncertainty over the November meeting.

Still, Goldman Sachs thinks “the FOMC can forgo a final hike this year, as we think it ultimately will,” as the bank’s chief economist Jan Hatzius wrote in a Sunday note. But with the U.S. economy running hot, the labor market remaining tight — and roiled by strikes — and oil prices surging again, it’s no surprise the broader market doesn’t really know what inflation — and hence interest rates — will look like for the rest of the year.

Hence, the Fed’s dot plot, which charts where the central bankers think interest rates will be in the short- and long-term, will be closely scrutinized by investors. But Hatzius thinks even if members pencil in one more hike for the year, the Fed won’t actually pull the trigger. It’s “only to preserve flexibility for now,” he wrote.

Perhaps we should give the Fed some benefit of the doubt. Ed Yardeni, president of Yardeni Research, is certainly doing so. “Generally speaking, Fed watchers like to criticize the Fed and suggest that they’re always wrong about their forecast and what they are doing,” Yardeni said on CNBC’s “Squawk Box.”

“But I think they’re actually getting it right this time,” Yardeni said. “And I think we may very well have immaculate disinflation, where inflation comes down without an economy-wide recession.” This might be a brazenly optimistic prediction. But it’s an undeniably cheery thought — one of the few certainties to be had today.

Environment

Archer Aviation is planning an air taxi network around the Miami metro area including airports

Published

4 hours ago

December 3, 2025

admin

Archer Aviation is planning an air taxi network around the Miami metro area including airports

Archer Aviation has announced partnerships in the Miami metropolitan area to establish a new air taxi network to support travelers around several key areas in Southern Florida, including local airports.

As you probably alrready know at this point. Archer Aviation ($ACHR) is a California-based developer of eVTOL and eCTOL aircraft that it continues to work toward implementing into commercial air taxi rides in the future. The plans for its network of sustainable aircraft have expanded to cities like New York and Chicago, as well as other countries like Japan and the United Arab Emirates.

In California, south of its headquarters, Archer intends to take to the skies above Los Angeles with a proposed air taxi network announced in August 2024. Building upon that network, Archer shared earlier this year that it had become the exclusive air taxi provider of the 2028 Olympic Games in Los Angeles.

On the other southern coast of the United States, Archer is planning another exciting air taxi network that includes the option of quiet, sustainable air travel around Miami, Fort Lauderdale, and several other key landmarks.

Advertisement – scroll for more content

Archer partners up to establish Miami air taxi network

Archer Aviation shared details of its new air taxi network plans for Miami in a press release early this morning. If and when it comes to friuition, the proposed air taxi network will be a result of several new partnerships established by Archer in the Miami metropolitan area.

Some of those partnerships include real estate company Related Ross, Apogee Golf Club, Hard Rock Stadium – where existing heliports will be configured for eVTOLs and/or new air taxi vertiports will be erected. Stephen Ross, CEO and Chairman of Related Ross and Owner of the Miami Dolphins:

Our partnership with Archer marks a pivotal step in expanding South Florida’s regional connectivity through cutting-edge technology. We are integrating Archer’s electric vertical takeoff and landing aircraft into our flagship locations across South Florida, including the Hard Rock Stadium in Miami, Related Ross developments in West Palm Beach, and Apogee Club in Hobe Sound. We’re excited to embrace a forward-thinking vision that transforms how people and businesses move across the region.

According to Archer, the new air taxi network will connect passengers to populated areas around Miami Fort Lauderdale, Boca Raton and West Palm Beach, offering 10 to 20 minute flights. Plans also include easier travel to major airports around Southern Florida, including Miami International Airport (MIA), Fort Lauderdale–Hollywood International Airport (FLL), and Palm Beach International Airport (PBI), plus several general aviation airports. Miami Mayor, Francis Suarez, also spoke:

Miami has never been afraid to bet on the future. We’re a city that attracts visionaries, embraces breakthrough technology, and turns bold ideas into real impact. For years, I’ve worked with Archer as they’ve advanced a vision for an air-taxi network that will elevate Miami’s position as a global capital for innovation and mobility. What they’re building isn’t just transformational transportation, it embodies the Miami mindset: we lead, we innovate, and we redefine what’s possible.

Archer did not share a timeline on when this air taxi network may be operational around Miami, but we’d wager it’s still at least a couple of years away given the need for additional eVTOl development and FAA certifications in order to begin commercial operations in the US.

Add Electrek as a preferred source on Google

FTC: We use income earning auto affiliate links. More.

Environment

Germany’s largest offshore wind farm fires up its first turbine

Published

14 hours ago

December 2, 2025

admin

Germany’s largest offshore wind farm fires up its first turbine

Germany largest offshore wind farm — EnBW He Dreiht offshore wind farm (Photographer: Rolf Otzipka)

Germany’s largest offshore wind farm hit a big milestone: The first turbine at EnBW’s He Dreiht project has produced its first kilowatt-hour of electricity and sent it into the grid.

More turbines are expected to come online over the coming weeks. European energy provider EnBW has already installed 27 of the wind farm’s 64 turbines, all of which are scheduled to be commissioned by summer 2026.

Peter Heydecker, EnBW board member for Sustainable Generation Infrastructure, described the November 25 milestone as a “significant moment for EnBW.” With 960 megawatts (MW) of total capacity, He Dreiht is now Germany’s largest offshore wind farm.

Vestas supplied the 15 MW turbines, marking their world debut. Nils de Baar, president of Vestas Northern and Central Europe, said the giant turbine’s technology sets a new standard for offshore wind. “Its efficiency and performance enable a significant increase in energy yield per turbine.”

Advertisement – scroll for more content

Just one rotation of the 15 MW turbine’s rotor can power the equivalent of four households for a day. The hub stands 142 meters (466 feet) tall, and the rotor’s 236-meter (774-foot) diameter sweeps a 43,742-square-meter (10.8-acre) area — roughly the size of six football fields. To put the scale into perspective, EnBW’s first offshore project, Baltic 1 in 2010, used 2.3 MW turbines.

EnBW wrapped up the wind farm’s internal cabling in August. Those lines connect all the turbines and feed into a converter platform operated by transmission system operator TenneT. That’s where the power is collected, converted from AC to DC, and sent to shore through two high-voltage DC cables.

Once complete, He Dreiht will generate enough electricity to power about 1.1 million households. The project is being built without state funding and sits roughly 85 kilometers (53 miles) northwest of Borkum and 110 kilometers (68 miles) west of Heligoland. EnBW’s offshore office in Hamburg is coordinating the build.

A partner group made up of Allianz Capital Partners, AIP, and Norges Bank Investment Management owns 49.9% of the project. Total investment comes in at around €2.4 billion.

If you’re looking to replace your old HVAC equipment, it’s always a good idea to get quotes from a few installers. To make sure you’re finding a trusted, reliable HVAC installer near you that offers competitive pricing on heat pumps, check out EnergySage. EnergySage is a free service that makes it easy for you to get a heat pump. They have pre-vetted heat pump installers competing for your business, ensuring you get high quality solutions. Plus, it’s free to use!

Your personalized heat pump 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. – *ad

FTC: We use income earning auto affiliate links. More.

Environment

BYD tried crushing its $180K luxury SUV with a 2-ton tree and it barely left a mark [Video]

Published

14 hours ago

December 2, 2025

admin

BYD tried crushing its $180K luxury SUV with a 2-ton tree and it barely left a mark [Video]

BYD-luxury-SUV-tree-drop — BYD Yangwang U8L (Source: Yangwang)

The Yangwang U8L is among the most expensive Chinese vehicles, starting at about $180,000. To prove it’s built for just about anything, BYD dropped a 2-ton tree on it, three times, and the ultra-luxury pretty much brushed it off.

BYD drops a tree on its ultra-luxury SUV during testing

BYD launched the Yangwang U8L in September, a long-wheelbase version of the U8 off-road SUV. The U8 was first introduced in September 2023 as the first vehicle from BYD’s ultra-luxury sub-brand, Yangwang.

Yangwang is a new energy vehicle (NEV) brand that sells high-end plug-in hybrids (PHEVs) and 100% battery electric (BEV) vehicles as BYD expands into new segments.

The U8L is Yangwang’s fourth vehicle, following the U8, U9, and U7. It’s available in China with a quad-motor extended-range electric vehicle (EREV) system, delivering a CLTC range of 200 km (124 miles) on battery power alone.

Advertisement – scroll for more content

A 2.0-liter turbocharged gasoline engine serves as a generator, delivering a combined CLTC range of 1,160 km (720 miles).

Measuring 5,400 mm in length, 2,049 mm in width, and 1,921 mm in height, the Yangwang U8L is even bigger than the Rolls-Royce Cullinan and Range Rover Long Wheelbase.

BYD’s ultra-luxury SUV is priced from 1.28 million yuan ($180,000), making it one of the most expensive models from a Chinese brand.

It may look pretty, but the Yangwang U8L is built for far more than just good looks. Like the U8, the long-wheelbase version is equipped with advanced features such as emergency float mode, which allows it to float on water for up to 30 minutes, tank turns, crab walking, and more.

To prove its durability, BYD engineers put the luxury SUV through the paces, dropping a massive 2-ton tree on it, not once, but three times.

During the final drop, the company said the maximum impact energy reached 50.4 kJ, or about 37,200 lb-ft. After three consecutive drops, the Yangwang U8L barely even got a scratch. The body structure remained intact, the door still opened, the columns didn’t bend, and the vehicle could even drive like normal.

FTC: We use income earning auto affiliate links. More.