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NEW YORK, NEW YORK – DECEMBER 29: Traders work on the floor of the New York Stock Exchange (NYSE) on the last day of trading for the year on December 29, 2023 in New York City. The Dow was up slightly in morning trading in what has been a strong year for the stock market despite many economists predictions that the American economy would experience a recession. (Photo by Spencer Platt/Getty Images)

Spencer Platt | Getty Images News | Getty Images

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

First and last trading day
Asia-Pacific markets kicked off 2024 mixed. China’s Shanghai Composite dipped 0.21% as official data showed the country’s manufacturing activity contracted in December. Meanwhile, Australia’s S&P/ASX 200 added 0.5%. On Friday, the last trading day of the year, U.S. stocks disappointed investors who were hoping the S&P 500 would close the year on a record high. Still, it was a mighty good year for major indexes.

Bright spots in Asia
The outlook for Asian markets in 2024 is “relatively promising,” according to Pinebridge Investments, which said China and India — Asia’s two biggest economies — can’t be overlooked. Their view is supported by the International Monetary Fund, which projects a higher growth rate for Asia compared with the global rate. Here’s what to pay attention to for the region in 2024.

Bullish on bitcoin
Bitcoin rallied about 152% in 2023 despite high-profile criminal cases against cryptocurrency exchanges FTX and Binance. Bitcoin was last trading above $45,300 — and many industry executives think the cryptocurrency’s poised for a new bull run, thanks to an event known as “halving” and the potential approval of a bitcoin exchange-traded fund in the U.S.

BYD set to beat Tesla
BYD said it produced more than 3 million new EVs in 2023, putting the Chinese electric vehicle maker on track to surpass Tesla, in terms of production, for a second straight year. Tesla is due to release its full-year figures later on Tuesday. But according to a U.S. Securities and Exchange Commission filing, Elon Musk’s EV company produced 1.35 million vehicles during the first three quarters of 2023.

[PRO] Alternative assets?
Interest in alternative assets — which include anything outside public market assets like stocks, bonds, commodities and cash — looks to be growing. It’s no surprise for some analysts, who think there’s “incredible value in private markets.” But others aren’t so sure. Read what the pros say on navigating the private market.

The bottom line

Instead of ending the year with a bang by surpassing its all-time high, the S&P 500 let out a whimper — to paraphrase the poet T.S. Eliot’s famous lines — and fell 0.28% on the last trading day of 2023.

Other major indexes lost momentum and retreated too. The Dow Jones Industrial Average inched down 0.05% and the Nasdaq Composite lost 0.56%.

As with any market move, it’s hard to attribute any definitive reason to it. I think, however, the S&P’s December rally was too reliant on the Federal Reserve’s dovish pivot. Without further positive news, and with the optimism priced in already, the S&P didn’t have a concrete reason to rise further.

Moreover, several analysts have pointed out that stocks are already priced above their fair valuation; that is, the price of a stock may be too high relative to its earnings per share.

“Arguably, the bull market is overbought, and there are too many bulls,” Ed Yardeni of Yardeni Research wrote. Echoing that sentiment, Sarat Sethi, managing partner at DCLA, told CNBC he thinks “valuations are stretched.”

Still, let’s not throw away the baby with the bathwater. Friday’s disappointing session aside, 2023 has been a banner year for a huge swathe of the market. Here are, in my book, the biggest winners and losers of last year:

Winners

  • U.S. indexes: For 2023, the S&P jumped 24.23%, the Dow gained 13.8% and the Nasdaq rocketed 43.42%.
  • Bitcoin: Shrugging off the high-profile criminal cases against FTX and Binance, bitcoin surged around 152%.
  • Gold: The precious metal recorded its first annual gain since 2020 of 13%, as geopolitical risks and peak interest rates made gold shinier to investors.

Losers

Although part of financial journalism necessarily involves making predictions, a quick glance at that list shows how difficult it is to do so. Going into 2023, many thought a recession was in the cards. Instead, markets were dealt a winning hand. Here’s hoping 2024 thwarts all the negative predictions and delivers positive surprises too.

Happy 2024!

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Opel Frontera GRAVEL concept previews next Jeep Renegade electric 4×4

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Opel Frontera GRAVEL concept previews next Jeep Renegade electric 4x4

Hot on the heels of the Fiat 4×4 Grande Panda Manifesto comes another subcompact Stellantis compact with electric drive and off-road ambitions. Meet the Opel Frontera GRAVEL – which might be our best look yet at the next-generation electric Jeep Renegade coming in 2027.

Based on a lifted Frontera EV and riding on a set of bespoke, 7×16″ Borbet CWE wheels wrapped in aggressive AT tires, Opel says its all-electric Frontera GRAVEL’s emissions-free driving makes it ideally suited for “soft-roading” nature drives (their words, not mine), with a rugged, adventurous 4×4 appearance.

Those rugged, Jeep-like good looks are backed up enhanced by the usual overland accessories, including a front-mounted winch, side storage boxes at the rear, and a lattice-style roof rack. A slew of accessory lights mounted on the Thule Canyon XT carrier and hood, as well, for excellent nighttime visibility off-road and (presumably) retina-searing intensity on-road.

“The new Opel Frontera is already standout,” says Rebecca Reinermann, Vice President of Marketing for Stellantis’ Opel and Vauxhall brands. “It is rugged, practical, and perfect for families and everyday adventures. But with the Frontera GRAVEL show car, we’ve pushed the limits, imagining a tougher, more daring, trailblazing version. This concept is built to fire up our fanbase and test the demand for a bolder, more rugged Frontera in the future. It’s all about freedom, adventure, excitement and pushing boundaries.”

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Like the recent Fiat concept mentioned at the top of this post, the production Frontera EV is based on Stellantis’ “Smart Car” BEV-native platform, and features a 113 hp electric motor and more than 300 km of WLTP range (about 185 miles) standard, with the “long range” version able of traveling up to 400 km (about 250 miles) between charges.

Either version comes with the “Pure Panel” digital cockpit featuring dual 10″ displays. For a few dollars quid more, the GS trim adds automatic climate control and Intelli-Seat front seats. And, if Mopar Insider has any idea what’s up, it might actually make for a decent little Jeep Renegade replacement (below).

Electric Jeep Renegade rendering


2027 Jeep Renegade rendering; via ChatGPT.

The Opel Frontera first came to our attention last October, when it became the first new EV from Stellantis to be offered with both ICE and battery power, for the same price – making EV price parity an objectively real thing.

Jeep parent company Stellantis has already confirmed that a new Jeep Renegade that’s priced below the upcoming Jeep Compass EV would be coming to the US as a 2027 model, and it’s expected to share its mechanicals with both the Frontera and Fiat’s recently teased Grande Panda Manifesto. If that does anything for you, let us know in the comments.


SOURCES | IMAGES: Mopar Insider, Stellantis.

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First-ever production electric Honda motorcycle is here – and it’s a cafe racer!

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First-ever production electric Honda motorcycle is here – and it's a cafe racer!

Year after year, a seemingly endless raft of all-electric concept bikes wearing Honda badges have made their way across the motor show stage without ever making it onto the dealer showroom. But now, it’s here: this unmissable, cafe racer-inspired electric Honda motorcycle is the company’s first – and you can buy it!

We got our first look at this first-ever production electric motorcycle from Honda back in March, when leaked type-approval documents hinted at a 75 mph 125 cc-class motorcycle with cafe racer styling and a “WH8000D” designation first surfaced. It was clear, then, that Honda was seriously working on a for-real electric motorcycle – what wasn’t clear was when (or even if) it would ever see productions.

The wait is over


Honda E-VO 75 mph electric motorcycle; via Honda.

The new Honda E-VO is available in dual- or triple-battery versions that feature either 4.1 or 6.2 kWh of battery capacity. On the triple-pack version, riders can enjoy up to 170 km WMTC (about 105 miles) of riding. Recharging takes about 2.5 hours on a standard outlet or about 90 minutes on an L2 (like the Harley-Davidson backed Livewire or Vespa Elettrica electric bikes, DC fast charging is not available).

Both battery configurations drive a motor with a peak power of 15.3 kW, or about 20 hp. And, like all electric motors, all the torque is available at 0 rpm, giving the Honda E-VO in-town performance similar to much higher (than 125 cc) displacement bikes.

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In addition to superior stop-and-go performance, the Honda E-VO offers riders a number of other innovative (for a motorcycle) features, including a 7-inch TFT instrument display paired with a second 7-inch TFT screen for navigation, music, tire pressure, and battery SOC information. The smaller battery pack version of the E-VO includes a front dash cam, while the larger model has both a front and rear dash cam as standard equipment.

The Honda E-VO is available in the black and off-white color schemes (shown). Prices start at 29,999 yuan, or about $4500 for the 4.1 kWh version, and 36,999 yuan (about $5100) for the 6.2 kWh triple-pack version.

Electrek’s Take


Honda E-VO electric motorcycle; via Honda.

Yes, this is a Chinese-market bike built by Honda’s Chinese Wuyang venture. No, we probably won’t ever get something like this in the US, where a raucous, 113 hp 600 cc CBR600RR is somehow positioned as a “good starter bike” by cowards with 3″ wide chicken strips on their tires. That said, if the motorcycle industry as-a-whole wants to survive in North America, zippy, affordable, lightweight motorcycles are exactly what’s needed.

Here’s hoping we get something like this stateside rather sooner than later.

SOURCE | IMAGES: Wuyang Honda; via Ride Apart, the PACK.


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What $100,000 gets you in China: Rolls looks, Maybach luxe, Huawei tech – and 850 hp

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What 0,000 gets you in China: Rolls looks, Maybach luxe, Huawei tech – and 850 hp

Westerners in-the-know look longingly at the affordable, value-packed electric cars rolling out of China – but what could you get if money was no object? If you were to spend 100,000 US American dollars on a Chinese EV, how good could these Chinese cars really get? Huawei’s 852 hp Maextro S800 is the answer.

Packing up to 852 hp and a cutting-edge technology stack developed by Huawei, Chinese luxury brand Maextro revealed its latest entry into the Mercedes-Maybach EQS and Rolls-Royce Spectre segment of ultra-luxe EVs, the S800, back in February. Now, it’s officially on sale, priced at 708,000 and 1,018,000 yuan (approx $97,500-140,000), and ready to make an entrance.

As I wrote at the car’s launch, the Maextro S800’s bespoke, purpose-built platform doesn’t share any parts with a lesser offering in the Huawei lineup in the same way a Mercedes or BMW or Volkswagen does with a Maybach, Rolls-Royce, or Bentley, respectively. And, while I admit that that may not mean much to you and me, I maintain that it might to the people shopping six- and seven-figure cars. And that might be especially true to people willing to shell out that kind of cash for a car in China’s generally lower-priced market.

That seems to be the kind of upmarket experience people of the People’s Republic want, if the S800’s two thousand initial orders (in just two days) are and indication. And, lucky for those buyers, the Maextro is set to deliver plenty in return.

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The vibe is immaculate


Maextro S800 at launch; via Huawei.

Those well-heeled buyers will get a choice of EREV or “pure” battery electric powertrains good for between 480 and 852 all-electric horsepower. 32 ADAS sensors including both radar and lidar compliment a suite of cameras analyze the road ahead and feed data to Huawei’s ADS road perception system, which is constantly adjusting torque distribution, suspension compression and rebound, and front and rear steering to deliver a tech-driven chauffeur experience that Huawei insists is second to none.

Huawei says its robotic driver is pretty handy when the weather gets nasty, too, thanks to an advanced sensor array that helps to increase the detection distance in rain, fog, and dust by 60% compared to the benchmarked competition.

While the car is its passengers around, they’ll get to enjoy luxurious, reclining rear seats with next-level mood lighting handled by a fully independent rear passenger system that supports intelligent track lighting, gesture dimming, and a panoramic “starry sky” moonroof that includes meteor shower effects.

The Maextro S800 also offers intelligent privacy glass and a unique door-closing function are also controlled with advanced gesture controls, in case you needed reminding that China is living in the year 3000 while the US is being plunged headlong into the 1940s by a pack of pseudo-conservatives too old to realize their gold standard policies will do nothing but hurt a fiat economy that’s consistently proved out the basic hypotheses behind modern monetary theory over the last five or six decades – but that’s a lot for an EV blog.

Instead of that, let’s ooh and ahh over the Maextro S800’s ultra-luxe interior in the photo gallery, below, then keep the debate to the relative merits of one of these over, say, a Mercedes-Benz EQS in the comments.


SOURCES | IMAGES: Huawei Central; CarNewsChina.


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