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

Published

2 years ago

September 19, 2023

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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

US clean energy jobs hit 3.56M in 2024 but the feds may kill the boom

Published

4 hours ago

September 19, 2025

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US clean energy jobs hit 3.56M in 2024 but the feds may kill the boom

US clean energy jobs — Photo by RAZE Solar on Unsplash

Clean energy jobs surged in 2024, growing more than three times faster than the rest of the US economy and adding nearly 100,000 new positions. That brought the total clean energy workforce to 3.56 million people, according to the 10th annual Clean Jobs America report from E2.

But growth slowed compared to 2023. Amid policy uncertainty and an overall cooling economy, clean energy jobs expanded at their slowest pace since 2020, with about 50,000 fewer new jobs than the year before.

Even so, the sector still outpaced the broader economy. Solar, wind, batteries, energy efficiency, storage, and grid jobs made up more than 7% of all new US jobs last year and 82% of new energy jobs. Clean energy also takes a bigger share of the overall workforce: it now accounts for 42% of all US energy jobs and 2.3% of the total workforce. More people work in clean energy today than as nurses, cashiers, restaurant servers, or preschool through middle school teachers.

The report lands as the clean energy industry faces major headwinds. Federal policy moves have canceled projects, revoked tax credits, and added new regulatory hurdles targeting solar, wind, EVs, and more. While not yet reflected in 2024’s numbers, those actions are already hitting jobs hard. E2 found that since January 2025, companies have canceled more than $22 billion worth of clean energy factories and projects that would have created 16,500 jobs. Other analyses warn that more than 830,000 jobs could vanish under Trump’s big bill, signed on July 4.

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“This was one of the hottest and most promising job sectors in the country at the end of 2024,” said E2’s executive director Bob Keefe. “Now, clean energy job growth is at serious risk – and with it, our overall economy.”

Clean energy and EV jobs have added more than 520,000 positions over the last five years, a 17% increase. That’s far more growth than fossil fuels, ICE vehicle manufacturing, or the economy overall. In fact, over the past five years, clean energy companies have added jobs 60% faster than the rest of the US economy.

Energy efficiency remains the largest employer in the sector, with nearly 2.4 million workers after adding 91,000 jobs last year. Renewable generation jobs reached 569,000 (+9,000 in 2024), while clean vehicle jobs totaled 398,000. The clean vehicle sector shrank by 12,000 jobs in 2024 due to an industry-wide decline across all vehicle sectors, but employment is still up 52% since 2020.

Regionally, the South is leading the way. More than 1 million clean energy workers are based there, and the South added 41,000 jobs in 2024. The West and Northeast each added over 20,000 jobs, and the Midwest added 13,000. At the state level, 23 states now have at least 50,000 clean energy jobs, and in all but eight states, clean energy employment outnumbers fossil fuel jobs.

“Every year, clean energy jobs become more intertwined and critical to our overall economy,” said Michael Timberlake, E2’s director of research and publications. “These jobs are now a vital anchor of America’s energy workforce. The strength of the US job market and the future of our energy economy are now inseparable from the growth of clean energy.”

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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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Environment

Genesis is about to launch a slew of new luxury EVs and hybrids: Here’s what’s coming

Published

10 hours ago

September 18, 2025

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Genesis is about to launch a slew of new luxury EVs and hybrids: Here's what's coming

Genesis is turning 10, and it’s celebrating with a few big surprises. The rising luxury brand is rolling out a slate of new hybrids and EVs, including an ultra-luxe flagship SUV and off-roader.

Genesis gears up for new EVs, hybrids, and EREVs

Hyundai’s luxury brand has quickly emerged as a dark horse in the luxury market. Genesis is celebrating its 10th anniversary with a bang.

By 2030, the brand aims to sell 350,000 vehicles annually. Genesis is launching a new lineup, including its first hybrid, a new flagship SUV, an off-roader, and several performance vehicles.

Hyundai confirmed during its CEO Investor Day on Thursday that Genesis will launch several new models soon, including new EVs, hybrids, and extended-range vehicles (EREVs).

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Genesis will launch its first hybrid in 2026, followed by EREVs shortly after. At least two new SUVs are set to join the lineup, a full-size flagship model and an off-roader.

Hyundai said the new luxury SUVs will be based on the Neolun and X Gran Equator concepts. Although we have yet to learn all the details, the Neolun is expected to arrive as the GV90, an “ultra-luxe,” full-size flagship electric SUV. The X Gran Equator concept is a more rugged, luxury off-road SUV.

Genesis plans to expand the brand into up to 20 European markets while strengthening its presence in the US. Those in the US will see the first hybrid Genesis vehicles roll out, starting in 2026.

The luxury brand will also launch its first EREV, which Hyundai promises will deliver over 600 miles of range by using a battery and a gas engine that acts as a backup generator.

Genesis is entering “the realm of high-performance vehicles” with its new Magma brand. The first performance model, the GV60 Magma, will arrive later this year.

In under eight years, the Genesis brand sold a total of over 1 million vehicles. Over the next few years, it’s betting on new EVs, hybrids, advanced tech, sleek designs, and more to solidify its position in the luxury space.

Hyundai is also launching new vehicles across nearly all powertrains and segments. Check out our recap of Hyundai’s CEO Investor Day to see what’s coming.

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Environment

Is the Chevy Equinox EV the best bang for your buck?

Published

12 hours ago

September 18, 2025

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Is the Chevy Equinox EV the best bang for your buck?

Starting at under $35,000 with up to 319 miles of range, class-leading tech, and more, the Chevy Equinox EV is hard to beat. But, is “America’s most affordable 315+ miles range EV,” really the best value?

The Chevy Equinox EV wins best value electric vehicle

The fastest-growing EV brand in the US is not Tesla or Rivian, it’s Chevy, largely thanks to the electric Equinox. After launching the lower-priced LT model last year, starting at just $34,995, Chevy’s electric SUV has been flying off the lot.

GM expects the Chevy Equinox EV will be the third top-selling electric vehicle in the US in 2025, behind the Tesla Model Y and Model 3.

Considering what it offers, the electric Equinox is hard to beat, but is it really the best value? According to Cars.com, it is. The online marketplace released its latest Top EV picks ahead of the Federal EV tax credit, set to expire on September 30, naming the 2025 Chevy Equinox EV the best value electric vehicle.

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The online car-shopping marketplace sifted through the 77 EV models now available, naming the best for 2026 across value, usability, performance, and technology.

Other top EV picks included the 2026 Hyundai IONIQ 5 for best 2-Row SUV, the 2026 Kia EV9 for best 3-Row SUV, and the 2026 Hyundai IONIQ 6 for top electric car.

The 2026 Lucid Air was named the top luxury EV, while the 2026 Chevy Silverado EV took the title for top electric pickup truck.

Chevy-Equinox-EV-interior — Chevy Equinox EV interior (Source: GM)

“The federal EV tax credit helped make EVs more affordable, and while its expiration at the end of September may slow demand in the short term, it doesn’t mean the end of affordable EVs,” Aaron Bragman, Detroit Bureau Chief at Cars.com, explained.

Many automakers, including Chevy, Nissan, and Hyundai, are planning to launch lower-priced electric vehicles, while several state and local incentives will remain.

2025 Chevy Equinox EV trim	Starting Price	EPA-estimated Range	Monthly lease Price (September 2025)
LT FWD	$34,995	319 miles	$249
LT AWD	$40,295	307 miles	$319
RS FWD	$45,790	319 miles	$324
RS AWD	$49,090	307 miles	$367

2025 Chevy Equinox EV prices, range, and lease price September 2025 (Including $1,395 destination fee)

With leases starting at just $249 per month, the Chevy Equinox EV is hard to match right now. Chevy is offering pretty significant discounts across its entire EV lineup, including a $10,000 bonus on most models and 0% APR financing on any 2025 model year EV.

The Equinox EV is not only one of the most affordable to lease, but it’s also one of the cheapest to insure. According to a recent study from Insurify, the Chevy Blazer and Equinox are the most affordable EVs to insure.

If you’re looking to grab the savings while they are still available, we can help you get started. You can use our links below to find deals on the top electric vehicles in your area.

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