Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024.
Angela Weiss | AFP | 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
Wall Street rally Stocks rose after Federal Reserve Chair Jerome Powell said the “time has come” to cut interest rates. The Dow Jones Industrial Average jumped 462 points, while the Nasdaq Composite and the S&P 500 climbed 1.47% and 1.15%, respectively. For the week, the Dow gained 1.3%, the Nasdaq 1.4% and the S&P 500 rose 1.45%. Meanwhile, the yield on the 10-year Treasury slipped, while U.S. oil prices rose more than 2% to move back above $74 a barrel.
‘The time has come’ Following Powell’s indication of an impending interest rate cut, market attention has pivoted to the timing and extent of the reduction. Traders currently anticipate a quarter-point cut in September, with rising expectations of a more aggressive half-point reduction. The likelihood of a larger cut is gaining traction, particularly if the August jobs report reflects the weakness seen in July’s figures. As the Fed’s mid-September meeting approaches, CNBC’s Jeff Cox cast an eye over the key economic indicators that could influence the final decision.
Returning empty Boeing‘s Starliner capsule will return from the International Space Station without astronauts. NASA astronauts Butch Wilmore and Suni Williams will instead return via SpaceX’s Dragon spacecraft, extending their stay on the ISS by about six months. The decision follows issues with Starliner’s propulsion system during its crew flight test. “We want to further understand the root causes and understand the design improvements so that the Boeing Starliner will serve as an important part of our assured crew access to the ISS,” NASA Administrator Bill Nelson said. The setback could threaten Boeing’s involvement with NASA’s commercial crew program, which has already absorbed losses of more than $1.5 billion.
Activist defense Intel is working with Morgan Stanley and other advisors to defend against potential activist investors as it struggles to compete with rivals like Nvidia. Intel is cutting 15,000 jobs as part of a $10 billion cost-reduction program as CEO Pat Gelsinger attempts to turn the chip maker around. Morgan Stanley has previously worked with the Intel, including spinning off Mobileye in 2022. The company’s difficulties stem from missing key market trends, including the smartphone boom and the current AI surge.
Export control list China strongly opposes the U.S. decision to add 42 Chinese firms to its export control list due to alleged ties to the Russian military. The United States also added 63 Russian companies and 18 from other countries for sending U.S. electronics to Russian military-linked entities that produced thousands of Shahed-136 drones for use against Ukraine. China’s Ministry of Commerce said the decision disrupts international trade, pledging that Beijing would protect the rights of Chinese companies.
[PRO] Trading Fed rate cuts As the Fed prepares for interest rate cuts, Evercore ISI highlights a few regional banks poised to outperform. These banks are actively reducing asset sensitivity through strategic balance sheet adjustments, positioning them for success in a lower-rate environment.
The bottom line
“This is going to be a drop-the-mic moment” for Nvidia, Wedbush’s Dan Ives told CNBC’s Worldwide Exchange. “Powell, Jackson Hole — so important — but the market, what it’s going to do for the rest of the year and I could argue 2025, it starts with this Nvidia earnings.”
On Wednesday, Nvidia — the undisputed leader in AI — will deliver its second-quarter earnings after the closing bell. The stock has soared 161% this year, despite plunging to a low of $90.69 on Aug. 5, as markets capitulated on economic concerns.
“A delay of two to three months, I view that as a sort of an asterisk. This is not moving the needle in terms of a demand perspective,” Ives said.
As footnotes go, while Nvidia continues to dominate the AI chip market, its competitor Intel has fallen significantly behind. Not only did Intel miss the smartphone revolution, but it’s also lagging in the AI race. Nvidia has overtaken Intel as the largest chipmaker by revenue, with Intel now roughly 35 times smaller in market capitalization. Facing these challenges, Intel has enlisted the help of Morgan Stanley and other advisors to fend off potential activist investors.
Former PIMCO chief economist Paul McCulley expects a series of 25-basis-point reductions at the next several FOMC meetings. McCulley also believes a more aggressive 50-basis-point cut could be implemented if August’s jobs report, due on Sept. 6, shows signs of weakeness.
Powell “drew a line in that we don’t want to see further deceleration in the labor market — we’re there,” McCulley said on CNBC’s “Squawk on the Street.” “I don’t think that’s the base case yet, but clearly he’s opened the door for front-loading of the easing process.”
Powell’s dovish tone also sends a strong signal to the market, according to David Russell, global head of market strategy at TradeStation. “This keeps a tailwind at the market’s back into year-end, making it harder to expect a retest of this month’s lows,” he said.
— CNBC’s Sarah Min, Rohan Goswami, Lisa Kailai Han, Michele Luhn, Michael Sheetz, Jesse Pound, Jeff Cox, Alex Harring, Yun Li, Pia Singh and Spencer Kimball contributed to this report.
After years of development and months of teasers, Nissan has officially launched a reimagined version of the LEAF as a 2026 model year crossover, set to hit dealerships later this year. We will always love the original LEAF, but this new model is sharp and includes some well overdue upgrades, including a NACS port and Plug & Charge capabilities.
It’s been over fifteen years since the original Nissan LEAF debuted as one of the world’s first viable, mass-market EVs. For nearly a decade, the LEAF was the best-selling plug-in EV in the world, before Tesla took over.
While the original hatchback LEAF will go down in history as one of the earliest successful BEV models, its market status in recent years has been repetitive, laughably archaic (CHAdeMO), albeit nostalgic. The last five or six model years of the Nissan LEAF have essentially been the same car, and the public has been petitioning for something new.
How could an automaker so ahead of the BEV curve in 2009 fall so far behind over the course of a decade? Nissan asked itself that same question and has since bounced back with the ARIYA, which has been in production since 2022, but what about a new LEAF?
Since January 2025, we have been following several camouflaged images of the reimagined LEAF in the wild before Nissan gave us a first official look in March. Earlier this month, Nissan shared even more details, including a timeline for the new BEV’s global debut.
Today, the third-generation Nissan LEAF has officially launched as a 2026 model, and it’s about as nice of an upgrade as we could have asked for.
Nissan’s new LEAF is set to hit dealers this fall
This morning, Nissan shared all the specifications for the four planned trims of the new 2026 LEAF (except pricing, sorry). There’s much to unpack here, so let’s dig right in.
For starters, the first thing you’ll notice, which we’ve already noted in the past, is that the 2026 LEAF has evolved from a compact hatchback to a (slightly) larger, family-friendly crossover SUV.
The new LEAF is marginally shorter in length than the second-generation model (173.4 inches vs. 176.4 inches), but it is about an inch wider and a similar height to its predecessor. So, arriving as a radically looking version of the LEAF without the hatchback, it will fill a similar footprint to the older models.
While the 2026 Nissan LEAF may be similar in size, most of the rest of the BEV has been significantly overhauled in the best ways. For example, the battery packs and electric motors have been bolstered to provide significantly better horsepower, charge rates, and range.
Here’s a quick breakdown of the standard configurations of the four initial LEAF trims in the new generation:
Nissan LEAF Trim
Motor
Battery
Power
Onboard Charger
S
130 kW
52 kWh
174 hp, 254 lb-ft torque
7.2 kW
S+ SV, PLATINUM+
160 kW
75 kWh
214 hp, 261 lb-ft torque
7.2 kW
Nissan also shared initial range estimates for the new LEAF trims, except for the base-level S version. Note that the two versions of the 2025 LEAF offered ranges of 149 and 212 miles, respectively:
2026 Nissan LEAF Trim
Est. Range
S
TBD
S+
303 miles
SV+
288 miles
PLATINUM+
259 miles
Even at its lowest range, the 2026 LEAF can go significantly farther than the previous generation. Better yet, it will be A LOT easier when future owners need to recharge. Yes, Nissan has finally abandoned the long-defunct CHAdeMO port and has replaced it with not one, but two more modern options.
A J1772 port is present on the driver’s side fender for Level 1 and 2 charging, while a North American Charging Standard (NACS) is on the passenger’s side fender, giving drivers access to Tesla’s massive Supercharger network. Per Nissan, the new LEAF models can recharge from 10 to 80% in 35 minutes on a DCFC. 240V charge times remain “TBD.”
The new models also have “Plug & Charge” capabilities.
Moving inward, the 2026 LEAF looks like an entirely new vehicle designed for the modern driver. The two higher-end trims come with dual 14.3-inch dash displays with Google built-in. The two lower trims have dual 12.3 inch displays and all support Apple CarPlay and Android Auto.
Nissan also shared that the cabin has an upgradable dimming panoramic roof—a first for its segment, according to the automaker. The crossover’s cargo area is 55.5 cubic feet behind the second-row seats when they’re folded (20 cubic feet when they’re upright).
Additionally, the new LEAF’s PLATINUM+ trim has 64-color ambient lighting that can be customized to set any mood in the cabin.
One key element we are missing from Nissan is the pricing of these new LEAF models. Those details should come sometime toward the end of summer, as the automaker has said the 2026 LEAF models should hit Nissan dealerships this fall.
While we await more details, be sure to check out Nissan’s b-roll footage of the new 2026 LEAF inside and out below:
Source: Nissan
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Suzuki revealed prices for its first EV, a twin to the upcoming Toyota Urban Cruiser. The e Vitarra will go on sale next month in an increasingly crowded market. Can it keep up with the Kia EV3 and other popular electric SUVs?
Suzuki announces prices for its first EV, built with Toyota
Ahead of sales, which are set to begin next month, Suzuki announced e Vitara prices this week, its first EV that will also serve as a twin to Toyota’s upcoming electric SUV.
The e Vitara will start at £29,999 ($40,500) with prices ranging up to £37,799 ($51,000) for the flagship “Ultra ALLGRIP-e 4WD” trim.
Sukuki’s first EV is available with two battery options: 49 kWh or 61 kWh, providing WLTP range of 346 km (215 miles) and 428 km (266 miles), respectively.
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Buyers can choose from “Motion” or “Ultra” grades, with single (2WD) and dual-motor (4WD) options. Suzuki developed the new four-wheel drive (4WD) ALLGRIP-e system specifically for the e Vitarra and is one of the few auto brands to offer an electric SUV with 4×4.
Suzuki’s first EV, the e Vitara electric SUV (Source: Suzuki)
The e Vitara sits on a new dedicated “HEARTECT-e” EV platform, which houses the eAxle and lithium iron phosphate (LFP) batteries.
As part of a deepening alliance, Toyota will use Suzuki’s EV powertrain for its upcoming electric SUV, the Urban Cruiser (shown below in white). Toyota will launch the Urban Cruiser in the next few months, which will essentially be a rebadged e-Vitara.
The e Vitara measures 4,275 mm in length, 1,800 mm in width, and 1,635 mm in height, with a wheelbase of 2,700 mm. That’s about the size of Kia’s new EV3 at 4,300 mm in length, 1,850 mm in width, and 1,560 mm in height, with a wheelbase of 2,680 mm.
In the first quarter, the Kia EV3 was the best-selling retail EV and the fourth best-selling electric vehicle (including commercial EVs) in the UK.
The interior of Suzuki’s first EV, the e Vitara (Source: Suzuki)
The EV3 starts at £33,005 ($42,500) in the UK. IT’s also available with two battery options: 58.3 kWh or 81.48 kWh. The former is good for a WLTP range of 430 km (270 miles), while the latter provides a range of 599 km (375 miles), respectively
Suzuki e Vitara trim
OTR Pricing
49kWh Motion 2WD
£29,999
61kWh Motion 2WD
£32,999
61kWh Ultra 2WD
£35,799
61kWh Motion ALLGRIP-e 4WD
£34,999
61kWh Ultra ALLGRIP-e 4WD
£37,799
Suzuki announces prices for its first EV, the e Vitara
Suzuki is offering a few discounts for early buyers, including 0% PCP for two years with a 20% deposit. With a deposit of £8,436 ($11,500), monthly payments for the 61 kWh Motion 2WD model would be £379 ($513).
If you order before September 30, Suzuki will give you a free Ohme home charger, plus 10,000 miles in home charging credit.
Can Suzuki’s new e Vitara keep pace with the Kia EV3 and other popular electric SUVs like the Hyundai Inster? Let us know your thoughts in the comments below.
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Tesla (TSLA) is currently sitting on so much inventory in the US that it has to take over parking lots outside of its exciting delivery centers to act as “overflow lots.”
Over the last few weeks, there have been increased reports of Tesla vehicles spotted in parking lots not directly linked to Tesla retail, delivery, or service locations.
In Chesterfield near St. Louis, Missouri, Tesla has rented the parking lot of a partly demolished mall where it is parking hundreds of unsold cars, which its delivery location three miles away can’t hold.
This is what is known as an “overflow” lot to handle rising inventory levels. Tesla has been using a lot more of these this year amid demand problems.
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There was another Tesla overflow lot spotted in Farmington Hills, Michigan earlier this month that has been controversial. The lot was reportedly not coded for vehicle storage, and the city notified Tesla:
About 100 Cybertrucks were spotted in the Farmington Hills lot.
Similar Tesla overflow lots were also spotted in Nevada, Florida, and Ohio in recent months.
Tesla’s inventory in the United States can be difficult to track. Some sites track Tesla listings, but the automaker can sometimes post a single listing for multiple vehicles with the same configuration.
Nonetheless, the latest data points to Tesla inventory increasing over the last week, with a surge of Model 3 listings:
Tesla’s overall inventory is higher than it was at the same time last quarter.
Cybertruck inventory has decreased slightly as Tesla has reduced production, but the automaker is still holding over 3,000 unsold Cybertrucks.
Electrek’s Take
Tesla is now offering record-low lease prices and subsidized financing to move its vehicles in the US, and yet, it still has higher inventory this quarter than it did the last, with only two weeks left in the quarter.
This is a problem for Tesla because the US is its last market where things are not completely terrible.
Sales in Canada are now gone. Almost completely. Europe is down roughly 40% even with the new Model Y.
In China, Tesla is currently down approximately 3,000 units compared to Q1, despite having ramped up Model Y production, made all variants available, and offered 0% financing.
At this point, it looks like Tesla is going to deliver between 350,000 and 360,000 vehicles in Q2, despite the Wall Street analyst consensus still being at 410,000 vehicles.
That would be down a whopping 80,000 units compared to the same period last year, and this time, Tesla has no Model Y changeover to blame things on. All that amid surging EV sales globally.
Maybe Tesla shareholders start to wake up and realize that there’s a problem that needs fixing, but I wouldn’t bet on it.
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