Investors can breathe a sigh of relief now that September — historically the worst month of the year for stocks — is in the rear-view mirror. This past September certainly lived up to its reputation, with the S & P 500 and the Nadsaq suffering its biggest monthly loss in 2023. However, changing the calendar may not be enough to erase three material hurdles standing in the way of stocks returning to their winning ways. We’re talking about this year’s rise in bond yields, oil prices and the dollar — all at the time same. The 10-year Treasury yield on Monday hit its highest level since October 2007, breaking slightly above 4.7%, in a continuation of its march higher since April. In the third quarter alone, the 10-year yield climbed from roughly 3.8% to Friday’s settle of nearly 4.58%. In the three months that ended Friday, both the U.S. oil benchmark and the international crude standard posted their largest quarterly price increases since the first quarter of 2022, when Russia’s invasion of Ukraine roiled energy markets and sent the commodity soaring. The U.S. dollar index — which measures the greenback against six other currencies including the euro and Japanese yen – is riding an 11-week win streak, en route Monday to fresh highs for the year. To be sure, other factors such as a potential U.S. government shutdown — which has been temporarily avoided — and the multiweek United Auto Workers strike against General Motors (GM), Jeep parent Stellantis (STLA) and Club holding Ford Motor (F) have also injected uncertainty into the marketplace. Nevertheless, bond yields, oil prices and the dollar always have far-reaching implications for the stock market. Here’s a closer look at how they’re currently impacting things. US10Y YTD mountain 10-yield Treasury yield YTD It all starts with the bond market. “The higher yields, that’s what’s been pressuring the equity market,” Wharton School professor Jeremy Siegel said Monday on CNBC. Indeed, U.S. government bond prices sold off in September. The resulting jump in yields — which move inversely to bond prices — accelerated after the Federal Reserve on Sept. 20 indicated interest rates may stay “higher for longer,” as the central bank seeks to bring inflation down further, and the market finally listened. Of course, there are those of us who are worried that the full impact of the 11 rate hikes already made by the Fed since March 2022 has not fully been realized in the economy. Therefore, we think a higher for longer policy may be misguided. In September, the S & P 500 dropped 4.9% while the tech-heavy Nasdaq slumped 5.8%. The Dow Jones Industrial Average proved to be the relative outperformer, falling only 3.5% in the month. Still, the Dow’s decline was its worst monthly decline since February. Bonds impact stocks in multiple ways, including competing over investment dollars. Higher yields on U.S. government notes — which are the closest possible thing to a risk-free investment — can make bonds more attractive to own compared to stocks. That results in fewer incremental dollars going into riskier equities. Essentially, the risk-reward bar for stocks is raised when bonds offer more competitive returns than they did before. This plays out most notably in the Utilities sector , which has by far been the worst-performing sector in the S & P 500 this year, down more than 20%. The group traditionally is slower growing but offers large dividend payments, kind of like bonds. Bonds figure heavily into the way investors think about valuing stocks, especially for growth-oriented companies whose profits are largely expected to be generated years down the road. In a higher yield environment, those projected future earnings are worth less to investors today. This dynamic manifests in investors reconsidering the “multiple” they’re willing to pay for each dollar of earnings — which in turn can lower the price at which they’re willing to buy shares of a given company. Unprofitable companies tend to get hit harder when interest rates rise, which is why when the Fed started hiking last year we made a rule for the Club to only buy stocks of profitable, cash-flow generative companies. In general, companies generating substantial profits are typically less sensitive to the change in yields. @CL.1 @LCO.1 YTD mountain WTI vs. Brent crude YTD In the third quarter, West Texas Intermediate crude, the U.S. oil standard, rose more than 28% to nearly $91 per barrel. The global benchmark, Brent crude, jumped more than 27% to just over $92 per barrel. Both oil gauges are riding four-month win streaks after WTI traded in just the upper $60s in mid-June and Brent traded in the low $70s around the same time. The increase in oil prices over the summer months into the fall largely reflects a mismatch between demand (as economic data has proven more resilient than expected) and available supply (as major oil exporters Saudi Arabia and Russia took voluntary steps to reduce production). In early September, the two countries announced their supply cuts would extend through year-end, a surprise decision that added upward pressure on oil prices. For oil-and-gas companies, such as Club names Pioneer Natural Resources (PXD) and Coterra Energy (CTRA), higher prices are a boon to their financials. It’s no surprise energy was the only positive sector of the 11 in the S & P 500 in September. The picture is less clear-cut when considering the impact higher oil prices can have on consumers and non-energy companies. Consumers needing to pay more at the gas pump, in theory, cuts into the money they have available to spend on discretionary goods — an important dynamic to watch given consumer spending makes up about two-thirds of U.S. economic activity. Discretionary spending is on stuff consumers want, not the staples they have to have to conduct their daily lives. For much of the first part of the year, lower energy prices contributed to the decline in inflation. Now, crude has gone from tailwind to headwind in the battle to bring down inflation. To bond traders who have been driving yields higher, stickier inflation means possibly a heavier-handed Fed — the higher-rates-for-longer scenario. Inflation reduces the attractiveness of owning bonds, motivating investors to sell and in the process pushing up yields. “Don’t forget: Bondholders look at overall inflation. They don’t just look at core inflation,” Siegel said. “Core inflation might be doing good. Overall inflation is going to be affected by those oil prices.” Non-energy companies feel pain from more expensive oil, increasing transportation and freight costs that could cut into profit margins. Of course, firms could mitigate higher fuel costs by raising prices on the finished products — protecting their bottom lines in the near term but adding to the inflationary pressures in the broader economy. Technically, the Fed focuses on core inflation data, which strips out more volatile food and energy prices. However, companies passing through their higher energy costs would eventually make their way into inflation data. To be sure, firms “might struggle to pass on rising input costs this time, in contrast to [2021 and 2022],” JPMorgan global equity strategists wrote in a note to clients Monday. In many cases, crude prices trending higher could be interpreted as a sign of economic health — if there’s a lot of activity out there, that’s going to drive demand for oil, supporting prices. In those situations, equity investors might be more encouraged by the strong economic data and what that means for revenue and profit growth, rather than their concern about the inflationary impacts. It’s a bit more nuanced this time around, with the rise in oil prices primarily tied to a “supply shock, Wharton’s Siegel said, versus a significant increase in demand. @DX.1 YTD mountain U.S. dollar index YTD The U.S. dollar is once again something for stock market investors to worry about — territory it occupied for a good chunk of last year, as it soared to its highest levels in two decades. Higher rates often lead to a stronger dollar. In that way, the Fed’s higher-for-longer approach served not only to pump bond yields but the dollar, too. After a downward trend that began last fall , the U.S. dollar index reached its lowest level of 2023 on July 13, at 99.77 – representing a 12.6% decline from its September 2022 high of 114.11, according to FactSet. However, the U.S. dollar index has returned to rally mode, up about 7% to 106.89 on Monday since its July nadir. “Historically, strengthening [in the dollar] was almost always met with risk-off in equities,” JPMorgan wrote in its Monday to clients. A strengthening U.S. dollar is particularly problematic for U.S.-based companies that generate a significant portion of their sales overseas, such as Club holding Procter & Gamble (PG) and tech stalwarts like Meta Platforms (META) and Apple (AAPL). Converting profits generated overseas in weaker currencies into stronger dollars can weigh on reported revenue sales and bottom-line earnings. At the Club, we tend to look through currency fluctuations and focus more on each company’s underlying fundamentals. Our longer-term focus enables this approach, but we recognize that other, influential traders and investors take a different view, which can impact the overall market. (Jim Cramer’s Charitable Trust is long META, AAPL, PG, PXD and CTRA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
People walk along Wall Street outside of the New York Stock Exchange (NYSE) on May 03, 2023.
Spencer Platt | Getty Images
Investors can breathe a sigh of relief now that September — historically the worst month of the year for stocks — is in the rear-view mirror. This past September certainly lived up to its reputation, with the S&P 500 and the Nadsaq suffering its biggest monthly loss in 2023. However, changing the calendar may not be enough to erase three material hurdles standing in the way of stocks returning to their winning ways.
EcoFlow’s extended Prime Day savings take up to 60% off TRAIL compact power stations at new lows from $104
As part of its extended Prime Day Sale, EcoFlow is continuing to offer the best rates yet on its new TRAIL series of power stations, with extra sitewide savings too. You can pick up the TRAIL 200 DC 60,000mAh Portable Power Station at $103.55 shipped, after using the code 25PDFAFF at checkout for an additional 5% off, while the TRAIL 300 DC 90,000mAh Portable Power Station is down at $141.55 shipped, after using the same code. What’s more, you’ll be getting a free RAPID 30W GaN Charger too (valued at $26), with the prices here also beating out Amazon by up to $7. These new charging solutions launched back at the top of August carrying $200 and $250 MSRPs, which we saw brought down to $113 and $151 with launch savings, dropping further to these rates for the earlier phase of the brand’s Prime Day Sale. You’re getting an extended period to pick them up at the best rates we have tracked, with a total $96 and $108 in savings off the going rates on top of the additional $26 in free gear. Head below to also check out their bundle options.
We’ve been seeing many of our favorite backup power brands releasing similar-sized devices to rival the ones from Anker SOLIX, which might have kicked off the trend with its popular PowerCore Reserve/C200 DC/C300 DC stations. EcoFlow’s smaller TRAIL 200 DC power station is a 4-pound unit with a 60,000mAh LiFePO4 battery, with the 300 DC model bumping things up to a 90,000mAh LiFePO4 capacity. These stations deliver up to 220W and 300W output through their four or five port options. The 200 DC sports two 12W USB-A ports, a 140W USB-C port, and a 100W USB-C port, while the 300 DC has the same USB-A ports but two 140W USB-C ports and a 120W car outlet.
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EcoFlow’s TRAIL power stations have a bunch of protections built right in against overvoltage, overloading, short circuiting, and much more – with both also being given built-in woven handles to make carrying them easier when not stashed inside a bag. Recharging from a standard AC outlet provides 200W or 280W speeds, with the 300 DC model being the one boasting a 110W maximum solar input via an appropriate panel.
***Note: Remember to use the sitewide code 25PDFAFF at checkout to score these prices below!
Bring home Leviton’s 48A level 2 EV chargers with or without smart controls starting from $514
Amazon is offering the Leviton 48A Hardwired Level 2 Smart EV Charger at $599.20 shipped, with this being from carried-over Prime Day savings. Normally fetching $749 at full price, discounts have almost entirely kept costs above $629 over the year, with a single fall further to the $527 low back during July’s Prime Day event. While the savings last here, you’re looking at a 20% markdown from the going rate that cuts $150 off the tag for the second-lowest price we have tracked. Of course, if you want to save a bit more and don’t mind losing the in-app smart controls, you can pick up the standard EV charger variant at $514.28 shipped, down from $643.
Get a more adaptive cleaning experience with Greenworks’ Pro 3,000 PSI electric pressure washer at $320
Amazon is now offering the newest Greenworks Pro 3,000 PSI Electric Pressure Washer at $319.99 shipped. Normally fetching $450 at full price, discounts over the year have largely kept costs above $330, save for a few drops to the $292 low until Prime Day cut the tag to $305. If you missed out on the two-day-only Prime rate, you can get it for just $15 higher in price while these savings last. You’re still getting a solid $130 markdown here, which lands it at the third-lowest price we have tracked and equips you with the latest and most powerful of the brand’s electric pressure washers.
Birdfy’s Nest Polygon smart solar birdhouse is back at $200 low + more from $290 (Today only)
As part of its Deals of the Day, Best Buy is offering the Birdfy Nest Polygon Smart Solar Birdhouse with camera back at $199.99 shipped, as well as two bird feeder discounts, also only lasting through the rest of the day (more on those below the fold). While it carries a $300 MSRP direct from the brand (currently priced $20 higher), we’ve been seeing it more often keeping between $240 and $260 elsewhere, with discounts regularly falling between $220 and $210 over the year. This low price first appeared in July and repeated once in September, and now it’s back again to give you a $40 to $60 markdown off the going rate for the best price we have tracked. It’s also beating out Amazon’s pricing by $20 right now too.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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Tesla is now selling retrofit turn signal stalks for Model 3 vehicles in the US, after having deleted the stalks in its update of the Model 3. At first, they were only available in China for certain cars, for the equivalent of ~$350. Now they’re available in the US, but for $595 instead.
In August, Tesla updated its China website with a new accessory: turn signal stalks. This led to speculation as to when or if the product might make it to the US, and today, it has.
That sounds like the setup for a joke (ha ha, those Tesla drivers never using their signal, am I right?!?! (…. I am a Tesla driver and I always use my signals, get off it everyone)), but for those who are out of the loop, it’s actually a solution to a self-inflicted problem by Tesla a few years ago.
The Tesla Model 3 Highland refresh, released in 2023, came with quite a lot of updates. The model had been out for 6 years without major changes, and got quite a slew of them including better sound dampening, a new front end, a slower steering ratio (not a fan of this change), ventilated seats, rear touchscreen, and so on.
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But one of the more controversial changes, within the various cost-cutting that Tesla did to offer these improvements, was the deletion of the turn signal stalk.
Tesla had already been moving in this direction, with the introduction of a “yoke” wheel on the Model S, which didn’t have stalks and used buttons on the wheel for turn signals and the vehicle touchscreen to change gears.
But the deletion of the turn signal stalk, even on a car with a normal steering wheel, was quite controversial. Even though some drivers have gotten used to using the buttons on the steering wheel, or letting FSD signal for you when it decides to change lanes, the convenience and familiarity of a turn signal stalk was still hard to give up for many.
This all happened in 2023, and Tesla got a lot of flack for it, but didn’t relent for some time. Then, in January of 2025, Tesla released the Model Y Juniper refresh, with many of the same changes that the Model 3 had seen.
In that refresh, Tesla did change the steering wheel, including removing the gear selection lever… but also brought back the turn signal stalk. Reason finally ruled the day.
And now, we’re finally seeing the problem get rectified… first in China, but now it’s available in North America, for $595. The installation includes shipping and labor costs to install the stalk, steering wheel, and column control module.
The stalks seem to be available now. So if you want to set up your appointment, you can head over to Tesla’s website, or find the new item in your Tesla app (which the website will direct you to, anyway).
Interestingly enough, the stalks are more widely available in North America than in China. In China, only vehicles that were produced after February 7, 2025 qualify for the stalks, whereas in the US, it seems that all non-stalk Model 3s will qualify, as the website states that any vehicle produced in 2024 or 2025 can install the retrofit. Given that the Highland Model 3 didn’t come out in North America until January 2024, that should mean all of them can get this stalk installed.
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Nissan’s electric SUV is due for its first major refresh. The new Nissan Ariya broke its cover, revealing a design closer to the 2026 LEAF, but those in the US won’t get to see it.
The 2026 Nissan Ariya looks like new LEAF
We are finally getting our first look at the new 2026 Nissan Ariya, which will arrive with a fresh new look, updated infotainment, and a smoother ride.
Nissan gave us a sneak peek of the new electric SUV ahead of its official debut at the upcoming Japan Mobility Show.
The new Ariya drops the black, closed-off grille and air intakes for a cleaner, minimalist look similar to the third-generation LEAF. It also adopts the LEAF’s slim, angled LED light design. Nissan said the new front-end design “exudes a more advanced and high-quality feel.”
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Although the front end was fully revealed, we still have yet to see what the rear will look like. Like the 2026 LEAF (which we already got to test out), it will likely arrive with a cleaner shape and updated lights.
The new 2026 Nissan Ariya (Source: Nissan)
Nissan confirmed the new electric SUV will feature a new infotainment system with Google built in. It will also gain vehicle-to-load (V2L) capabilities. Both of which are already featured in the new LEAF.
With an updated suspension, Nissan said the updated Ariya will feel more comfortable to drive. We will learn more, including prices, range, and other specs, closer to launch.
Nissan unveils the new LEAF in Japan (Source: Nissan)
The new Nissan Ariya will debut at the Japan Mobility Show 2025, which starts on October 31. It will launch in Japan later this fiscal year, followed by overseas markets.
However, those in the US won’t get to see the updates. Nissan is dropping the Ariya SUV from its US lineup for the 2026 model year as it focuses on launching the new LEAF. The automaker said it will still support current owners, but whether it will return for a 2027 model year remains unclear.
The 2025 Nissan Ariya starts at just under $40,000 in the US with an EPA-estimated driving range of 216 miles. The longer range model, with 289 miles of range, starts at $44,370.
Nissan said the 2026 LEAF will have the lowest starting MSRP of any new EV currently on sale in the US, priced from just $29,990.
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