Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market pressure : The major stock benchmarks were moving lower Wednesday, with the Dow getting the worst of it again. Adding pressure on equities, bond yields moved higher following a poor auction of $44 billion worth of 7-year Treasury notes. Nvidia was bucking the overall market decline, but its modest gain was much cooler than the incredible march higher over the past three sessions after last week’s earnings. American Airlines shares sank roughly 15% after a company sales strategy backfired and the carrier cut growth guidance. Sector watch : All of the S & P 500 sectors were under pressure Wednesday, led by energy and utilities. Tech has been flirting with positive territory as Nvidia, which opened lower, reversed to the upside. Fellow Club names Apple and Microsoft were also in the green. Combined, the three account for nearly 49% of the tech sector index. Apple and Nvidia, our two “own, don’t trade” stocks were also the top performers among the entire 33 stock Club portfolio. Deal movers : ConocoPhillips has agreed to buy Marathon Oil in a $17 billion all-stock transaction. Marathon shares rose about 7.5%, while Conoco stock fell roughly 4%. Additionally, Hess shareholders approved the company’s pending merger with Chevron . And, Merck has reached a deal to acquire privately held Eyebiotech for $1.3 billion in cash. Banking news : Here’s a dispatch from our Investing Club reporter Morgan Chittum about what Wells Fargo CEO Charlie Scharf said Wednesday at Bernstein’s 40th annual Strategic Decisions Conference: Scharf said Wells Fargo has been focusing on investment banking in a “very, very targeted way.” There were several mentions of the bank’s quiet hiring spree to beef up its Corporate and Investment Banking (CIB) division, which we reported on last week . Building out lucrative underwriting and advisory fee capabilities is “staring us in the face,” he added, as long-dormant IPO and M & A activity have started to perk up. Expanding Wells Fargo’s Wealth Management franchise, another fee-based revenue stream is “one of the bigger opportunities” ahead, Scharf said. The bank has around 12,000 advisors and is better positioned than in years past, the CEO added. We have been encouraged by Wells Fargo’s push to boost fees business lines. Scharf said Wells Fargo remains focused on efficiency. The bank has cut staff to 225,000 from 275,000. “The conversation around efficiency is less [about] saving money and it’s more about how do we run a better company,” he added. When the Federal Reserve at some point removes its asset cap on Wells Fargo, Scharf said corporate lending and trading will be areas of growth for the bank. He said he dialed back those areas to stay under the Fed’s $1.95 trillion limit. “When you turn a consumer away, they’ll remember that forever,” Scharf said. Businesses understand and can be won back, he added. The CEO believes it’s just a matter of time before the asset cap is lifted and so do we. Scharf said Wells Fargo was able to get a key regulatory penalty removed back in February by stripping away things like certain incentive plans at branches. The so-called consent order was tied to the bank’s 2016 fake accounts scandal that predated Scharf. There are still several other orders outstanding. Quick hits : The FDA granted accelerated approval for Club name Eli Lilly ‘s Retevmo, which is used to treat certain kinds of advanced or metastatic medullary thyroid cancer in children two and older. Twelve years and older was the prior age threshold. Elsewhere, shares of HubSpot were bucking the broader market decline on further speculation that Club name Alphabet is indeed considering an acquisition. CNBC’s David Faber believes that should a deal occur, it would be all-stock. Up next : Salesforce is set to report earnings after Wednesday’s closing bell. AI monetization commentary and what the team has been seeing in terms of cross-selling opportunities will be key watch items. Foot Locker and Best Buy report before the bell Thursday. Costco is out with results Thursday evening. That will do it for Club name earnings, except for Broadcom, which is set to report next month. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) 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.
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Kia’s first electric van is proving to be even more functional. The new PV5 WAV is specifically designed to be affordable, accessible, and wheelchair-friendly. Meet the new Kia PV5 WAV.
Meet the Kia PV5 WAV electric van
The PV5 is a fully electric midsize van. It’s the first of many from Kia’s new Platform Beyond Vehicle (PBV) business.
Kia promised its PBVs would go “Beyond Mobility,” and the company is proving it. On Tuesday, Kia unveiled the new PV5 WAV, calling it “a new era for wheelchair accessible electric vehicles.”
The PV5 is the perfect electric van for the task. Based on its new E-GMP.S EV platform, it has a flat floor design and extended wheelbase, unlocking more interior space.
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Kia designed the electric van not only for wheelchair users but also for their families, caregivers, and drivers. The PV5 WAV features a custom side-entry system to make it easier to get in and out of. An adjustable third-row seat enables users to assist from the side.
It will also feature a specially developed wheelchair belt fastener and entry ramp that can handle up to 661 lbs (300 kg).
According to Kia, the PV5 will include all necessary equipment for individuals with disabilities, based on the AAOS open software platform.
Kia PV5 WAV electric van interior (Source: Kia)
The new electric van variant will be built alongside other PV5 models at Kia’s Hwaseong EVO Plant in Korea. Kia opened PV5 Passenger pre-orders (shown below) in the UK on May 1, starting at £32,995, or about $44,000. It will launch in Europe and Korea later this year, followed by other global markets in 2026.
Kia’s Passenger electric van is offered with two battery options: 51.5 kWh or 71.2 kWh, good for up to 179 miles or 249 miles of WLTP driving range.
After partnering with Motability Operations in February, Kia said, “users receiving a disability allowance can choose an affordable and accessible vehicle.”
The PV5 WAV will initially launch in the UK, but Kia plans to expand sales to other global regions. A larger PV7 van will arrive in 2027, followed by the PV9 in 2029. Kia will continue launching new electric variants and use cases. By 2030, the company aims to sell 250,000 electric vans as it taps into a new market.
Last month, at the 2025 Seoul Mobility Show, Kia and LG Electronics unveiled two new “Speilraum” PV5 electric van concepts for camping and other fun uses. What’s next?
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US republicans have unveiled their new tax proposal, which kills a slew of tax credits to help working families become more energy efficient, improve US air quality, and boost US manufacturing. The republican proposal instead channels that money to wealthy elites, increasing the deficit by trillions of dollars along the way.
Republicans in Congress released their 389-page proposal today and, as expected, it includes several provisions to eliminate popular clean energy credits which were driving a boost in American manufacturing.
The credits were largely established under President Biden as part of the Inflation Reduction Act, which raised hundreds of billions of dollars through tax enforcement on wealthy individuals and corporations and channeled that into energy efficiency credits for American families.
We’ve covered how families could save thousands of dollars on upgrades to lower their energy costs through these credits.
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But these credits aren’t just money-saving for Americans, they also work to boost American manufacturing.
But now, republicans in Congress are trying to roll much of that progress back.
Here’s a life of the bill’s various effects (via the BlueGreen Alliance):
Attaching restrictions to clean energy and manufacturing tax credits that would make them unusable in practical terms while also “sunsetting” those tax credits early, a move that research suggests will increase costs for American families;
Repealing the Clean Vehicle Tax Credits;
Repealing the Clean Hydrogen Tax Credit;
Clawing back unspent funds for air quality monitoring in schools, clean manufacturing, state and community energy programs, and electric grid upgrades;
Defunding and delaying the Methane Emissions Reduction Program (MERP), which reduces pollution and protects the health of workers and communities;
Clawing back all unspent Inflation Reduction Act funds, including many provisions that would have lowered energy bills, created jobs, and reduced pollution; and
Attacks on many additional Inflation Reduction Act programs and initiatives.
You can perhaps see a pattern in these effects: they’re primarily targeted towards increasing costs for regular American families who were taking advantage of these tax credits, and towards programs that would keep you and your children healthier.
It should not be any surprise to anyone that has been paying attention that republicans want to poison you and raise your costs, but some people apparently still need more examples, so here we are.
In particular, the new tax proposal eliminates the US EV tax credit which had driven so much of that investment due to its domestic manufacturing provision (though there are some small carveouts). Not only does that inflate the cost of the best vehicles available today for Americans, it also takes away one of the incentives that was driving investment in US manufacturing.
But then, the cherry on top of today’s tax proposal is that its cuts of these credits don’t even have a greater budgetary purpose. Not only was the Inflation Reduction Act revenue-positive – which is to say, it raised more money than it spent, thus reducing the deficit – today’s republican tax bill is revenue-negative, which is to say, it will increase the deficit.
So the government isn’t even getting any savings out of this bill, merely channeling more money from working families to the wealthy elites that the republican party has always tried to benefit (including in other ways than the clean energy credits, like by cutting health care for the poor).
If you have a republican representative, all it takes is 3 republican Congresspeople to oppose this job-killing bill and to stand up for the well-being of their constituents.
But there are many others whose districts have received significant investment, with EV projects being particularly popular in states like Georgia, North Carolina, and others along the burgeoning US “battery belt”. An interactive tool, including the ability to sort by congressional district, is available here.
Of course, if you have a Democratic representative, it’s also worth letting them know that you oppose the tax bill, just in case a few of them decide to jump ranks and join the republicans in harming America. We certainly hope they don’t, but it could happen.
Among the proposed cuts is the rooftop solar credit. That means you could have only until the end of this year to install rooftop solar on your home, before republicans raise the cost of doing so by an average of ~$10,000. So if you want to go solar, get started now.
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. – ad*
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The House’s “One, Big, Beautiful Bill” (yes, it’s really called that) has set an accelerated expiration date of December 31, 2025, for the 30% residential solar tax credit – nearly a decade ahead of its originally planned end date.
Is this the end of the residential solar tax credit?
The point of this giant bill is to extend the expiring Trump-era tax cuts from the 2017 Tax Cuts and Jobs Act, which would cost around $4 trillion over the next decade.
The Republican-majority House Ways and Means Committee proposes terminating section 25D on page 221, which would kill residential solar tax credits at the end of this year, almost a decade ahead of its original end date of December 31, 2034.
(Utility-scale solar’s tax credits remain in place through 2028 before a phase-down to 80% in 2029, 60% in 2030, 40% in 2031, and zero in 2032. That’s earlier than what’s currently law.)
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The original plan included a gradual reduction in residential solar tax credits; this new compressed timeframe leaves no time for the solar industry to prepare. “If Congress eliminates the ITC without a reasonable phase-down, that’s obviously going to cause immediate disruption within the solar industry,” Aaron Nichols with Exact Solar told EnergySage.
The tax credit is known as the Investment Tax Credit (ITC), and it provides homeowners with a tax credit of 30% of the full cost of their residential solar installation. It was part of the Biden administration’s flagship Inflation Reduction Act.
The House Ways and Means Committee will mark up and then vote on the bill today, and then it will be sent to the entire House of Representatives. It will then be sent to the Senate, which has until July 4 to amend, reject, or pass the bill.
The bill also proposes that the EV and energy efficiency tax credits be killed.
Electrek’s Take
It’s not hyperbole to say that this would be one of the worst decisions the Republican Party would ever make for the US economy. Nothing about this makes America great.
That’s why Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA) released a statement yesterday saying that “at a time when billions of dollars are being invested in states that overwhelmingly voted for President Trump, this proposed legislation will effectively dismantle the most successful industrial onshoring effort in US history.”
And Charlie Hadlow, president and COO of EnergySage, told Electrek that “eliminating the 25D tax credit would be a step backward for American families and small businesses. President Trump has emphasized the need for more domestic energy sources, not fewer, and this credit plays a key role in expanding access to reliable, affordable, homegrown power.”
If this reckless proposal to kill the 30% residential solar tax credit passes, it’s going to raise homeowners’ energy bills, kill jobs, kneecap the solar industry, and hurt small businesses. It will be more of an uphill battle to create a more resilient grid as energy demand skyrockets. It’s going to be much more difficult to compete with China. It makes it harder to reduce emissions (not that Trump’s party cares about that).
Nothing about this budget proposal makes sense. And the thing that makes the least sense is that most of the pain will be felt in red states, where most of the solar industry’s growth is happening.
So, will some Republican lawmakers have the guts to stand up for their constituents? I guess we’ll find out.
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. 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. They have 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 Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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