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. Wild week: The stock market was little changed Friday, which masked the drama we saw in this holiday-shortened week of trading. Nvidia soared to all-time highs on Tuesday and became the most valuable U.S. company — if only briefly. Back-to-back losses Thursday and Friday put Nvidia in the No. 3 position of $3 trillion-plus stocks. Club names Microsoft regained the throne followed by Apple . The Dow was poised to be the big weekly winner, a change from its recent also-ran status. The S & P 500 and Nasdaq , while off their record highs, were holding on weekly gains in Friday afternoon trading. The CME FedWatch tool indicated a high likelihood of two Federal Reserve interest rate cuts before the end of the year — one in September and the other in December. Energized : West Texas Intermediate crude , the U.S. oil benchmark, was on track for its second consecutive positive week. In Friday’s session, WTI lost nearly 1% to trade around $80.50 a barrel. Strong gasoline demand in the U.S. is one factor cited for crude’s advance. Alongside the move, energy is the top-performing sector in the S & P 500 this week, up more than 2%. However, Club name Coterra Energy has largely sat out the rally, with the stock only slightly higher week to date. Natural gas prices have cooled off recently, which could be pressuring Coterra given the producer’s significant exposure to nat gas and oil. Coterra did shift more resources to oil production earlier this year, which has so far been a good move due to the volatility in nat gas. Alexa overhaul : Amazon is planning a huge overhaul of Alexa that could include two tiers of new generative artificial intelligence features, Reuters reported on Friday. This follows a CNBC report in May that Club name Amazon could charge a monthly subscription fee for its AI-powered voice assistant services. A paid version can complete more complex tasks like “composing a brief email, sending it and ordering dinner for delivery from Uber Eats, all from a single prompt,” Reuters reported. Amazon aims to complete the project, known internally as “Banyan,” by August. An Amazon spokesperson told CNBC in a statement that the company has “already integrated generative AI into different components of Alexa, and are working hard on implementation at scale … to enable even more proactive, personal, and trusted assistance for our customers.” “Amazon’s pricing strategy for Alexa could help keep losses down, but it’s too early to know if consumers will be willing to pay for it,” said Jeff Marks, the Investing Club’s director of portfolio analysis. Amazon shares are up about 0.4% Friday, to nearly $187 each. Over the past month, the stock is up around 1.9%. Caffeinated deals : Starbucks is looking to win back price-conscious customers through discounts. According to The Wall Street Journal , the company launched a $5 value menu and ran promotions for about half of May. The coffee deals follow weak traffic that led to a sales slump last quarter, driven by higher prices and slow service. “It’s good to see Starbucks recognize it needs to provide more value to its customers to get them back in the store, but this is one small step in what will be a long turnaround,” Marks said. The sentiment around Starbucks stock has been negative, with shares down roughly 17% so far this year. Shares are still nearly $10 below where they were trading before their May 1 earnings rout. Jim Cramer has said he’s tentative about the next steps and has the stock in the penalty box. He’d prefer waiting a few more quarters to see if management can deliver on plans to improve financials. Next week : There are a handful of economic reports on the agenda, including housing data on Tuesday, Wednesday and Thursday. Also on Thursday, we get durable goods orders for May, weekly jobless claims, and the final look at first-quarter gross domestic product. The Fed’s favorite inflation gauge — the PCE price index — is released next Friday. — CNBC’s Matthew J. Belvedere and Kevin Stankiewicz contributed to this article. (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.
On today’s informative episode of Quick Charge, we’ve got Honda engineers Jason Hwang and Emilio Sanchez to talk us through some of the things that make the GM Ultium-based Honda Prologue EV feel like a real Honda, and why that matters.
Jason and Emilio talk about some of the choices they made to make the Honda Prologue and Acura ZDX feel different from its GM-branded cousins, and explain why this was much more than a case of badge-engineering. Give it a listen, then let us know what you think of the Prologue and ZDX in the comments.
Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations site wide. Learn more by clicking here.
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The first EV charging hub funded by the Charging and Fueling Infrastructure (CFI) Program in the Eastern US is now online in Deerfield, Massachusetts.
The town installed the region’s first DC fast chargers (four ports), along with four Level 2 chargers, at 59 North Main Street in South Deerfield.
These new charging stations, funded with $2.46 million from the CFI program, are conveniently located near Interstate 91 in Franklin County, the most rural county in Massachusetts, which serves drivers from Connecticut up to the Canadian border.
The hub also features local and regional bus stops and designated bike lanes with secure onsite bike racks. The chargers are meant to cater to everyone: from local residents and visitors to municipal EVs and commercial vehicles that service the region’s businesses, like those in food and beverage manufacturing.
Gabe Klein, executive director of the Joint Office of Energy and Transportation, sees this as a model for future projects:
Multi-modal charging hubs in communities are key to giving more people the choice to ride and drive electric. The Town of Deerfield is showing leadership in building out convenient charging infrastructure that brings new transportation choices to rural and disadvantaged communities while supporting local commerce.
In recent years, Deerfield has experienced increased climate change-driven flooding from nearby rivers, including the Deerfield River, the Connecticut River, and the Bloody Brook. The project incorporates environmental engineering designed to mitigate and adapt to the effects of flooding and climate, including the installation of permeable asphalt and rain gardens, planting of native trees, grasses, and shrubs, and the creation of new greenspace in the center of Deerfield.
The Biden-Harris administration’s CFI Grant Program is expanding EV infrastructure nationwide. It offers grants for projects that complement and expand upon the initiatives of the NEVI program in urban, rural, and disadvantaged and low-income communities. So far, the CFI Grant Program has allocated over $1 billion to nearly 100 projects across the US, encouraging private investments and expanding the EV charging network to make EV ownership more practical and convenient.
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Kia’s upcoming EV4 electric sedan was just spotted testing in the US for the first time. The low-cost EV is expected to make its big debut by the end of the year. Here’s a look at the new model.
The EV4 will round out Kia’s new “EVs for all” master plan launched last year. Kia showcased three new models, the EV3, EV4, and EV5, during its first annual EV Day in October 2023.
During the event, Kia outlined its new global strategy to “lead and accelerate the EV revolution” with a wide range of models priced from $30,000 to $80,000.
Kia plans to rapidly expand its lineup with a series of smaller, lower-priced models. It launched the EV9, its first three-row electric SUV, which is already proving to be a hot seller in the US. Starting at under $55,000, the EV9 is still a great deal compared to others in its class, but Kia plans to go even lower.
The EV3 and EV4 are expected to be among the most affordable electric vehicles when they arrive in the US.
Kia’s new EV4 is now testing in the US
Ahead of its official debut, Kia’s new EV4 sedan was recently caught driving on US streets for the first time.
The latest image from KindelAuto doesn’t reveal much more than what’s been shown in the past, but the fact that it’s now testing in the US is significant.
Kia’s EV3 is already on sale in Korea, starting at around $30,000 (42.08 million won). Earlier this week, the company said its new compact SUV is now available across Europe, starting at around $38,000 (36,000 euros) with a “segment-leading range” of up to 375 miles (WLTP).
Next up will be the EV4. Kia is expected to officially reveal the new EV by the end of the year, with deliveries starting in 2025. It could be as soon as next week at the 2024 LA Auto Show.
The interior will feature Kia’s advanced new ccNC infotainment system with dual 12.3″ navigation and driver display screens. An otherwise minalimalistic design is expected inside.
Kia’s EV4 will also be available in a hatchback variant. Although the hatch is likely aimed at European buyers, it was also recently spotted testing in the US for the first time.
We will learn official prices closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Kia is teasing five new vehicles for the US, at least one being a new EV, that will debut at the LA Auto Show next week. Will it be the EV3? EV4?
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