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Traders work on the floor of the New York Stock Exchange during morning trading on August 06, 2024 in New York City. 

Michael M. Santiago | Getty Images

This report is from today’s CNBC Daily Open, our 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

Broad rally
Wall Street staged a broad-based rally,
snapping a three-day losing streak. The Dow Jones Industrial Average rose almost 300 points, while the S&P 500 and Nasdaq Composite both rose more than 1%. All 11 S&P 500 sectors closed in positive territory. Mega caps rebounded from Monday’s losses, with Nvidia and Meta Platforms, gaining 3.8% and 3.9%, respectively. The yield on the 10-year Treasury ticked higher, while U.S. oil prices rose after hitting six-month lows on Monday.

Not so super
Super Micro Computer shares fell 13% after the company’s fourth-quarter earnings missed estimates. The company, whose first-quarter revenue forecast exceeded Wall Street’s estimates, also announced a 10-for-1 stock split. Super Micro is a key supplier of servers for Nvidia, a major player in the AI boom, and has seen significant growth in recent years. However, the company’s profitability is now a concern for investors. Its gross margin dropped to 11.2% in the reported quarter, down from 17%, a year earlier. 

Microsoft vs Delta
Microsoft accused Delta Air Lines of outdated technology after an IT outage in July caused the airline to cancel more than 5,000 flights. The company, which said the incident had caused it $500 million in losses, is seeking damages from Microsoft and CrowdStrike. A botched software update from CrowdStrike last month had affected millions of computers running Microsoft Windows. Microsoft questioned why Delta struggled to recover compared to other airlines, suggesting Delta hasn’t modernized its IT infrastructure. Delta refutes the claim.

X sues advertisers
Elon Musk’s X, formerly Twitter, is suing a group of advertisers for allegedly orchestrating an illegal boycott that cost the platform billions in revenue. The lawsuit, filed in Texas, accuses the World Federation of Advertisers and its members of violating antitrust laws by stopping advertising after Musk’s takeover. Musk, on X, declared “war” against the advertisers, while X CEO Linda Yaccarino cited evidence uncovered by the U.S. House Judiciary Committee to support the lawsuit’s claims.

Asia markets rise
Japanese stocks rose Wednesday after the Bank of Japan deputy governor said the central bank would not raise rates while markets were “extremely volatile.” The yen fell 2.3% to 147.75 against the dollar boosting Japan’s export-heavy Nikkei 225. The index was up 2.8% after gaining over 10% on Tuesday. Hong Kong’s Hang Seng index rose 1.67% and mainland China’s CSI 300 gained 0.28% after China’s imports in July grew faster-than-expected, while export growth missed forecasts. South Korea’s Kospi jumped 2.45% and Australia’s S&P/ASX 200 climbed 0.55%.

[PRO] ‘Highest conviction’ stocks
Australian investment bank Macquarie has identified 10 high-conviction stocks with buying opportunities amidst market volatility and sell-offs, driven by fears of a U.S. recession and unwinding of the Japanese yen carry trade.

The bottom line

Wall Street spent the session crawling out of a hole but Goldman Sachs warned the correction may not be over yet. And sure enough, futures indicated a lower opening to Wednesday’s session. 

Peter Oppenheimer, Goldman Sachs’ chief global equity strategist, told CNBC the market correction was “healthy and somewhat inevitable” after a very strong first half of the year especially given signs of a slowing U.S. economy and growing “complacency” in the market.

“My feeling is that this correction, although is stabilising, is not yet over. We’re still going to see, I think, some choppy environments in the short-term as investors really start to calibrate and get more confident again about the direction of interest rates and the economy. But at the same time I don’t think we are in a bear market and there are going to be some good opportunities here.”

Asked by CNBC’s David Faber if now was a good entry point to get investors back into the market, with the multiple on the Nasdaq down to 24-time earnings, Oppenheimer said, “I think it hasn’t come down enough.” He expects further declines before value investors see it as a good buying opportunity.

Mega cap stocks were routed on Monday losing $1 trillion in early trading before recovering some ground. There has been a lot of concern around earnings and the billions spent by Microsoft, Meta, Amazon and Alphabet on AI data centers. Hedge fund Elliott Management reportedly told clients that Nvidia was in a “bubble” and the AI frenzy was “overhyped.”

Ankur Crawford, Alger portfolio manager, urged investors to look beyond short-term earnings and focus on the long-term earnings power of companies leading the AI revolution.

“If you look at just Microsoft‘s Azure numbers, they went from being a zero-dollar business seven quarters ago to having a $6 billion run rate today. I would challenge anyone to tell me what other business grew from zero to $6 billion in a year and a half. And that is just the early early innings of this AI trade.”

CNBC’s Hakyung Kim, Samantha Subin, Sean Conlon, Jeff Cox, Rohan Goswami, Leslie Josephs, Spencer Kimball and Dylan Butts contributed to this report.

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It floats, it flies, it works: World’s first hydrofoil electric ferry is crushing it

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It floats, it flies, it works: World's first hydrofoil electric ferry is crushing it

It flies, it floats, it’s electric — and now it’s officially a hit. The world’s first electric hydrofoil ferry, a Candela P-12 vessel named Nova, has wrapped up its first season of public service in Stockholm, and new data confirms what many suspected: this sleek, silent, water-skimming machine isn’t just a cool piece of tech — it’s also wildly successful.

The Nova, which first entered Stockholm’s public transport system last fall, uses a combination of electric propulsion and hydrofoil technology to quite literally lift above the water. This reduces drag, increases efficiency, and makes it the fastest electric passenger vessel in the world, cruising comfortably at 25 knots (around 29 mph or 46 km/h).

As it prepares to return to the water on April 15 after a winter pause, Stockholm’s public transport authority has released performance data from Nova’s autumn run. The numbers reveal that the boat isn’t just fast — it’s popular, green, and pulling people out of their cars.

Compared to the diesel ferries it operates alongside, Nova emits 95% less CO₂ and uses 84% less energy per passenger-kilometer. That translates to just 23 grams of CO₂ per passenger-kilometer, compared to 439 grams for the older diesel vessels. In other words, it’s a drop in a bucket compared to the old standard.

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It’s not just an environmental win — it’s a rider favorite too. With 80% average occupancy (and many trips fully booked), Nova has become quite literally one of the hottest tickets on Stockholm’s Route 89. Some of that success may come from its 30-minute travel time between Tappström and Stockholm City Hall — roughly half the time it takes to get there by car or bus.

The numbers are clear with the data revealing that Nova attracts more people to travel on water, with a 30% increase in ridership on route 89. According to Candela CEO Gustav Hasselskog, this shows that high-speed, comfortable waterborne transit can actually convert car commuters into ferry riders — a holy grail for sustainable city planning.

In response to the strong demand, Region Stockholm will expand Nova’s service from five to six days a week this spring, and to daily operations by May. In August, the pilot program will be evaluated — and Candela is already eyeing more routes across Stockholm’s vast archipelago.

The P-12’s combination of speed, silence, and ultra-low operating costs makes it ideal for routes with moderate passenger volume — a gap that many traditional ferries struggle to serve efficiently.

Candela isn’t stopping in Sweden, either. The company already has customers lined up in Saudi Arabia, New Zealand, and the U.S., suggesting that this may be just the beginning of the era of flying electric ferries.

“We are incredibly happy that Region Stockholm has enabled us to demonstrate the hydrofoil technology in the city’s public transport. We see that waterways in most cities have enormous potential for fast, low-cost, and emission-free transport that can relieve road networks and increase accessibility,” said Hasselskog. “This is just the beginning.”

candela
Candela C-8 electric speedboat sails alongside a Candela P-12 electric ferry

Electrek’s Take

I’ve followed Candela with such interest over the years not just because of their fun electric speedboats (though I love those too, as you can tell from my first ride video below), but also because of the company’s ability to help take more cars off the road and switch commuters to ferry riders.

As someone who lives a largely car-free lifestyle, that’s huge for me. When we talk about reforming urban transportation, such lofty goals require a holistic approach and we should include a diverse field of options that can work together to achieve those intentions. Flying electric boats might not be most people’s first thought, but they achieve the same goal as many other alternatives, shifting commuters to more sustainable alternatives to cars.

We’ve already seen how capable electric hydrofoil ferries like these are, even watching the Candela P-12 tackle large swells in open seas. So short commutes like these that allow rapid recharging via DC Fast Charging at each stop make so much sense for such a capable machine.

Even when compared to traditional electric ferries, which are already an improvement by reducing emissions, electric hydrofoil ferries like these go so much further. They not only use even less energy than a traditional electric ferry, but they offer a faster trip and a smoother ride, making the idea of ferry travel that much more enticing. In this case seen in Stockholm, commuters get to arrive faster, more comfortably, and in a pretty cool way. That’s a win-win-win if you ask me!

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World surges past 40% clean power in record renewables boom

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World surges past 40% clean power in record renewables boom

Renewables and nuclear provided 40.9% of the world’s power generation in 2024, passing the 40% mark for the first time since the 1940s, according to a new global energy think tank Ember report. 

Renewables added a record 858 TWh in 2024, 49% more than the previous high in 2022. Solar was the largest contributor for the third year running, adding 474 TWh to reach a share of 6.9%. Solar was the fastest-growing power source (+29%) for the 20th year in a row. 

Solar has doubled in just three years, providing more than 2,000 TWh of electricity in 2024. Wind generation also grew to 8.1% of global electricity, while hydro – the single largest renewable source – remained steady at 14% of global electricity.

“Solar power has become the engine of the global energy transition,” said Phil MacDonald, Ember’s managing director. “Paired with battery storage, solar is set to be an unstoppable force. As the fastest-growing and largest source of new electricity, it is critical in meeting the world’s ever-increasing demand for electricity.”

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Ember’s sixth annual Global Electricity Review, published today, provides the first comprehensive overview of the global power system in 2024 based on country-level data. It’s published alongside the world’s first open dataset on electricity generation in 2024, covering 88 countries that account for 93% of global electricity demand, as well as historical data for 215 countries.

What drove the rising power demand

The analysis finds that fossil fuels also saw a small 1.4% increase in 2024 due to surging electricity demand, pushing global power sector emissions up 1.6% to an all-time high.

Heatwaves were the main driver of the rise in fossil generation, accounting for almost a fifth (+0.7%) of the increase in global electricity demand in 2024 (+4.0%), mainly through additional use of cooling. Without these temperature effects, fossil fuel generation would have risen by only 0.2%, as clean electricity generation met 96% of the demand growth not caused by hotter temperatures.

“Amid the noise, it’s essential to focus on the real signal,” continued MacDonald. “Hotter weather drove the fossil generation increase in 2024, but we’re very unlikely to see a similar jump in 2025.”

Aside from weather effects, the increasing use of electricity for AI, data centers, EVs, and heat pumps is already contributing to global demand growth. Combined, the growing use of these technologies accounted for a 0.7% increase in global electricity demand in 2024, double what they contributed five years ago. 

Clean power will grow faster than demand

Ember’s report shows that clean generation growth is set to outpace faster-rising demand in the coming years, marking the start of a permanent decline in fossil fuel generation. The current expected growth in clean generation would be sufficient to meet a demand increase of 4.1% per year to 2030, which is above expectations for demand growth. 

“The world is watching how technologies like AI and EVs will drive electricity demand,” said MacDonald. “It’s clear that booming solar and wind are comfortably set to deliver, and those expecting fossil fuel generation to keep rising will be disappointed.”

Beyond emerging technologies, the growth trajectories of the world’s largest emerging economies will play a crucial role in defining the global outlook. More than half of the increase in solar generation in 2024 was in China, with its clean generation growth meeting 81% of its demand increase in 2024. India’s solar capacity additions in 2024 doubled compared to 2023. These two countries are at the forefront of the drive to clean power and will help tip the balance toward a decline in fossil generation at a global level.

Professor Xunpeng Shi, president of the International Society for Energy Transition Studies (ISETS), said: “The future of the global power system is being shaped in Asia, with China and India at the heart of the energy transition. Their increasing reliance on renewables to power demand growth marks a shift that will redefine the global power sector and accelerate the decline of fossil fuels.”

Read more: Made-in-America solar just got a big win in Louisiana


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Nissan’s new LEAF EV was caught at a Tesla Supercharger in Canada

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Nissan's new LEAF EV was caught at a Tesla Supercharger in Canada

The next-gen LEAF is almost here, and it’s looking better than ever. This isn’t the electric hatch you are used to seeing. Nissan’s new LEAF EV has more range, a fresh crossover design, and yes, it can finally charge up at Tesla Superchargers with an NACS port. With the official reveal just around the corner, someone already spotted the new LEAF at a Tesla charger in Canada.

Nissan is launching the new LEAF in the US and Canada

A little over a week ago, we finally got our first look at the third-generation LEAF. Nissan’s iconic electric hatch has grown into a “sleek and spacious family-friendly crossover.”

The US and Canada will be the first to see the reimagined LEAF later this year. It will join the Ariya in Nissan’s North American EV lineup as it looks to spark growth in one of its most important markets.

Based on the CMF-EV platform, the same one underpinning the Ariya, Nissan promises the new LEAF will have “significant range improvements.” Although no other details were revealed, Nissan’s vehicle programs chief, Francois Bailly, told TopGear.com that it’s expected to have WLTP driving range of up to 373 miles (600 km).

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It will likely be lower on the EPA scale, but anything even close to 300 miles would be a major improvement over the current 212 EPA-estimated miles offered on the 2025 LEAF SV Plus.

Nissan-new-LEAF-EV
Nissan’s new LEAF EV (Source: Nissan)

The next-gen LEAF will also be Nissan’s first EV to feature an integrated NACS charging port. With its official debut later this year, the new model is out for testing and was just caught testing at a Tesla Supercharger in Canada.

Nissan’s next-gen LEAF charging at a Tesla Supercharger in Canada ahead of its debut (Source: KindelAuto)

If you didn’t know what vehicle it is, the LEAF is hardly recognizable. The new image from KindelAuto gives us a closer look at the new crossover design. It almost looks like a Tesla sitting in front of the charger.

The new LEAF is one of 10 new and refreshed Nissan vehicles set to launch in the US and Canada. It will arrive later this year, followed by the fourth-gen Rogue in 2026, which will be available as a PHEV for the first time.

Nissan-new-LEAF-EV
Nissan’s upcoming lineup for the US, including the new LEAF EV and “Adventure Focused” SUV (Source: Nissan)

Nissan also plans to build a new “adventure-focused SUV” at its Canton, Mississippi, plant in late 2027. The teaser shows what appears to be a rugged electric Xterra. We’ll have to wait for more details on that one.

Nissan will reveal additional info about the upcoming LEAF mid-year. Check back soon for more updates.

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