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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.

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John Deere adds new, updated Gator GX and GX Crew electric UTVs for 2026

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John Deere adds new, updated Gator GX and GX Crew electric UTVs for 2026

Just weeks after writing about John Deere’s tried-and-true Gator side-by-side and extolling the virtues of its two-plus decades of design stasis, the engineers at Deere have launched a pair of new, li-ion Gator models that offer all-day power to move people and things all over your property in true, go-anywhere Gator fashion.

John Deere is quick to point out that these new GX side-by-side utility vehicles are not golf carts. Fair enough – while they;re not quite in the same go-anywhere league as Deere’s TH 6×4 Gas or TE 4×2 Gators, the Gator GX and GX Crew offer more than enough capability to handle just about anything you’ll find on a typical campus, golf course, or job site.

To that end, the sturdy composite dump bed, comfortable and supportive high-back foam seats seem credible enough at first glance. And, if you give the new Deere UTVs a second glance, you’ll see a 367-L (13-cu ft) cargo box can haul more than 800 lbs. (~365 kg) of mulch, nursery plantings, building supplies, firewood, animal feed, or tools.

These are serious machines, in other words, ready to get down and do some serious work, but without the noise, vibration, and harmful exhaust emissions of gas.

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“The Gator GX lineup offers property owners the opportunity to increase productivity around their properties with less noise, less maintenance and more versatility,” said John Deere Go To Market Manager Eric Halfman. “These utility vehicles are intuitive and durable while offering users the comfort, reliability and convenience they expect from a John Deere Gator.”

The key component in the new GX and GX Crew is the new, 5.4 kWh, 51.2V lithium-ion battery that sends power to a high-efficiency electric drive motor with responsive torque and smooth acceleration. An onboard charger allows for convenient charging anywhere with a standard, grounded 120 outlet, eliminating the need for handling fuel or trips to the gas station and fully charging the 5.4 kWh battery over night, with more than 8 hours of continuous operation on tap that’s extendable with clever use of the new Deere’s regenerative braking.

These new electric Gators are available in classic John Deere green or grey metallic, and start at $17,499 with a whole suite of available accessories to make upfitting a breeze. The company says they’ll be available for order at your local John Deere TriGreen dealer in Q1 of 2026.

Electrek’s Take


I imagine that applying the Gator name to a vehicle that I’d call a glorified golf cart makes me feel something similar to what the Mustang guys feel whenever they see a Mach-E drive past. As such, I’ll give myself the same advice I give them: the people who make the thing decide what makes it worthy of the name, not you.

As such, I’d better get used to it. The good news there, of course, is that it seems like Deere’s latest Gator is going to be more than good enough to win me over. Eventually.

SOURCE | IMAGES: John Deere, via Charged EVs.


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GM hydrogen: the reports of my death are greatly exaggerated

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GM hydrogen: the reports of my death are greatly exaggerated

GM has scrapped plans to build $55 million hydrogen fuel cell factory in Detroit, triggering a tsunami of headlines about the General’s future plans for hydrogen. The reality? GM isn’t scaling back its hydrogen efforts. It’s thinking bigger.

The reports of my death are greatly exaggerated.

MARK TWAIN (sort of)

Like the great Sam Clemens, there seems to be plenty of confidence in the greater automotive press that GM’s decision to cancel a $55 millions fuel cell plant on the former Michigan State Fairgrounds site in Detroit. That plant, a JV with Southeast Michigan’s Piston Automotive, would have created ~140 jobs and built compact hydrogen fuel cells for light- and medium-duty vehicles under the Hydrotec brand.

That plan, frankly, was never going to work. It was always a cynical incentive grab and the first fruits of GM’s Hydrotec efforts were so laughably far behind the state of the electric art that the facts themselves blurred the line between satire and reality. Which, of course, didn’t matter – as long as the incentive money (Biden’s Department of Energy awarded GM $30 million in grants for the State Fairgrounds plant) kept flowing.

The new Trump Administration put an end to that flow last week, however, terminating 321 financial awards for clean energy worth $7.56 billion.

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“Certainly the decisions of the DOE are an element of that overall climate but not the only driver,” explained GM spokesperson, Stuart Fowle, in a statement. “We want to prioritize the engineering talent and resources and everything we have to continuing to advance EVs given hydrogen is in a different spot.”

That spot is heavy-duty, off-highway, maritime, and data centers.

Bigger trucks, bigger fuel cells


Fuel cell semi truck; via Honda.

Instead of dying, GM is continuing on the hydrogen fuel cell it’s been on for literal decades – with no plans (publicly, at least) to shutter its Fuel Cell System Manufacturing joint-venture with Honda in Brownstown Township, MI.

That company is not just developing HFCs, they’re out there selling fuel cells today, to extreme-duty, disaster response, and off-highway equipment customers operating far enough off the grid that access to electricity is questionable and to data center developers for whom access to a continuous flow of energy is mission-critical.

Electrek’s Take


Fuel cells like the ones from GM and Honda will continue to seem like a good idea … for about as long as it takes the heavy equipment guys to watch a ZQUIP video.

SOURCE | IMAGES: Detroit News, FreightWaves, Yahoo!Finance.


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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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Want EV charging at your apartment, as an owner or a renter? Click here (update)

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Want EV charging at your apartment, as an owner or a renter? Click here (update)

EVs are great, and can unlock more transportation convenience with the ease of charging at home. But for apartment-dwellers, this can be a complicated conversation. So a nonprofit called Forth is here to help, through its Charge at Home program.

One of the main benefits of an electric vehicle is in the convenience of owning and charging the car in the place it spends most of its time. Instead of having to go out of your way to fuel it, you just park it at home, in the same place it spends at least 8 hours a day, and you leave the house every day with a full charge.

But this benefit only applies to those with a consistent parking space which they can easily install charging at. When talking about owners who live in apartment buildings, it can sometimes get more complicated.

While certain states have passed “right to charge” laws to give apartment-dwellers a solution for home charging, apartment charging is nevertheless a bit of a patchwork solution so far.

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And as a result of this, EV ownership among apartment renters lags behind that of single-family homeowners. It’s clear that apartments are holding back people from buying EVs, and that’s bad – lots of people live in apartments, and the gas those cars use pollutes the air just as much as any other.

Certain areas where EVs have hit a point of critical mass (namely, the large California cities) have pretty good EV ownership among renters, but it could still be better. And residents are clamoring more and more for easy EV charging in apartment communities.

So, Forth, a nonprofit advocating for equitable access to clean transportation, set up a program called Charge at Home, which is meant to connect renters, apartment building owners or other decisionmakers with resources to help install chargers at multifamily properties.

The site lets you select your situation – a resident or a decisionmaker for a new or existing multifamily development – and then gives you access to tools for your specific situation, whether you be a resident and developer.

The site houses links to help design a multifamily project, find electricians, inform you about right to charge laws or available incentives, and provide case studies, among others.

Charge at Home also hosts roundtable webinars periodically, and includes a library of past webinars with the information you need.

There are a lot of considerations for each of these projects, so it can be helpful to have someone with experience to help you go over it all. Personally, when talking to friends about getting an EV, charging considerations are usually the thing that takes up the bulk of the conversation.

So if the toolkits are still too daunting for you, Charge at Home is offering free charging consultations for multifamily developers, owners, property managers and HOAs.

The charging consultations will last through at least April 2026 – but it wouldn’t hurt to get your requests in soon. Forth may still offer consultations afterwards, but it all depends on funding availability (the program was previously funded by the Department of Energy, which has taken a turn). Regardless, the website will remain up for people to submit questions and find information, whether or not free consultations stick around.

But at the very least, as Forth points out, whether a multifamily development is interested in having EV charging at this moment or not, any developer should think about having the infrastructure, conduit and capacity ready to go for future install of EV chargers, and should consider the needs of current residents who are likely already considering EVs today.

It’s going to be necessary to install this capacity at some point, and doing so earlier can help save money down the line, make your development more attractive to renters today, and allow more renters to make the switch to cleaner transportation which helps air quality and to reduce climate change, both of which harm everyone on the planet.

Head on over to Forth’s Charge at Home site to get access to all the above resources – and to sign up for a consultation before the end of April if you’re a multifamily developer, owner, property manager or HOA.

Update: This article has been updated to account for an extension in program availability.

Electrek’s Take

I’ve long said that the only real problem with EVs is the problem of access to consistent charging for people who don’t have their own garage. Whether this be apartment-dwellers, street-parkers or the like, the electric car charging experience is often less-than-ideal outside of single family homes, at least in North America.

There are workarounds available, like charging at work, or using Superchargers in “third places” where you often spend time, but these still aren’t optimal. The best thing is just to charge your car wherever it spends most of its time, which is your home. When you do that, EVs outshine everything in convenience.

We’ve highlighted some projects before which showed how reasonable it can be to install charging for developments. Every project is going to have its complexities, but when you see projects like this condo complex that managed to install chargers for just $405 per parking spot, all of a sudden it becomes a no-brainer not to have EV charging.

But the fact is, there just aren’t enough apartment complexes out there which have EV charging. So if Forth’s Charge At Home program can help residents or landlords with that, it can go a long way towards solving the only real problem with EVs. Click here to check it out.


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. 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.

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

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