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. Muted Monday: Wall Street is having a relatively quiet session to wrap up a volatile, yet positive September and a strong third quarter. Federal Reserve Chair Jerome Powell spoke at the National Association for Business Economics conference in Nashville and fielded questions about his monetary policy outlook. Less than two weeks after the central bank kicked off its rate-cutting cycle by a half-percentage point, Powell indicated additional reductions would be ahead if the “economy evolves broadly as expected.” But, he cautioned, the Fed is “not on any preset course.” He later added that “this is not a committee that feels like it’s in a hurry to cut rates.” This last line caused the S & P 500 to trade at its lows of the day, as market probabilities for the Fed’s November meeting shifted to a traditional quarter-point cut from another 50 basis point move, according to the CME Group’s FedWatch tool . Ultimately, the Fed’s next move will depend on how the data evolves. Don’t overlook Disney : Shares of Club name Disney have quietly put together a solid September, up about 6% in the month. This comes after the stock spent most of August trading in the mid-$80s. Shares broke down on Aug. 7, falling more than 4% to $85.96 after a disappointing reaction to a good quarter . The entertainment giant beat estimates on revenue and delivered a sizeable bottom-line beat, thanks in part to its first profitable quarter from its streaming business. Nevertheless, the stock sold off on concerns about a moderation in spending at its theme parks . Since the quarter, the stock has rallied as the market has become more comfortable with Disney’s outlook, expecting that sluggish trends for its experiences business could reverse if multiple Fed rate cuts take some pressure off the consumer. Indeed, an improving macroeconomic outlook — coupled with emerging profitability at streaming — was the basis of Seaport Research Partner’s upgrade of Disney on Monday. The analysts now rate the stock a buy, up from neutral, with a price target of $108 a share. “While we have tangibly soft Parks data, it is likely temporary, and emergent DTC profitability is getting the benefit of the doubt, with recent price increases and paid sharing announcements possibly supporting further [average revenue per user] and sub growth,” Seaport told clients. Disney’s market valuation is heavily tied to the health of its experiences business, so we agree that an improving economic outlook should help boost the stock. The question is how long this normalization from a post-pandemic boom will last? In the meantime, we are encouraged by the progress Disney has made to make its streaming unit profitable and its recent box office success. Energy woes : The S & P 500 energy sector is on pace to finish the third quarter as the only sector in the red, down more than 3%. For the year, the energy sector is up about 5%, easily the worst-performing group. There have been a few winners in the oil-and-gas group, but for the most part, the independent exploration-and-production companies have been a big disappointment. Fortunately, we’ve only had one small energy position in Coterra Energy , a disciplined driller that balances oil and natural gas production based on commodity prices. At 2.15% of Jim Cramer’s Charitable Trust, our energy exposure is less than the 3.5% energy weighting of the S & P 500, as of Aug. 30, and we have correctly held off from averaging down since our last buy in late May at $27.50. But natural gas is now finally starting to move — tracking for its best month since July 2022 and trading at its highest levels since late June, when Coterra traded around just below $27 per share. Against that backdrop, we see value in Coterra shares trading at almost $24 with a 3.5% dividend yield and are debating adding to our position. Up next: Before the open Tuesday we’ll see earnings from payroll processor Paychex and spice maker McCormick . On the economic data side, there is the so-called JOLTS report, which measures job openings and serves as a good measure of tightness in the labor market. We’ll also see the September ISM manufacturing index, which could impact how the industrials trade. (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.
The Hyundai IONIQ 6 N is finally here, and it delivers. Hyundai’s electric sports car is loaded with fun new features, a sleek design (including a massive rear wing), 641 horsepower, and much more.
Meet the Hyundai IONIQ 6 N
After teasing the new model for the first time last month, Hyundai created quite a buzz. Now, we are finally getting our first look at the upgraded high-performance EV.
Hyundai unveiled the new IONIQ 6 N at the famed Goodwood Festival of Speed on Thursday in West Sussex, England. The upgraded model follows Hyundai’s first high-performance EV, the IONIQ 5 N.
At the event, the company boasted that its new electric sports car marks “a pivotal milestone in Hyundai N’s electrification journey,” adding “Hyundai N is once again redefining the boundaries of high-performance electrification with the debut of the IONIQ 6 N.”
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The IONIQ 6 N delivers an impressive 641 horsepower (478 kW) and 77 Nm of torque, enabling a 0 to 100 km/h (0 to 62 mph) sprint in just 3.2 seconds. Its top speed is about 160 mph (257 km/h).
Hyundai IONIQ 6 N (Source: Hyundai)
That’s when using Hyundai’s Launch Control, one of the many performance features the new EV offers. Like its other N models, the IONIQ 6 is based on three pillars: Corner Rascal, Racetrack Capability, and, of course, an Everyday Sportscar.
Powered by two electric motors, a 223 hp (166 kW) at the front and another 378 hp (282 kW) motor at the rear, for a combined 600 hp (448 kW).
Hyundai IONIQ 6 N (Source: Hyundai)
Redefining the EV driving experience
The upgraded IONIQ 6 “redefines the EV driving experience,” according to Hyundai, thanks to its advanced in-house vehicle control software.
Central to this is Hyundai’s N Active Sound + system, which mimics the feel and sound of a traditional engine. An added N e-Shift simulates shifting gears.
Hyundai IONIQ 6 N interior (Source: Hyundai)
And that’s just the start. Other performance features, such as N Drift Optimizer, N Grin Boost, and N Torque Distribution, give you even more control over the vehicle while delivering increased power.
The IONIQ 6 N is powered by an 84 kWh battery, providing a WLTP range of up to 291 miles (469 km). However, EPA figures will be revealed closer to launch. Given the IONIQ 5 N has an EPA-estimated range of up to 221 miles, you can expect it to be slightly higher when it arrives.
With a 350 kW DC fast charger, Hyundai’s new performance EV can recharge from 10% to 80% in about 18 minutes.
With a length of 4,935 mm, a width of 1,940 mm, and a height of 1,495 mm, the IONIQ 6 N is about the size of the Porsche Taycan.
Hyundai will showcase the new high-performance EV during the hillclimb event alongside other models like the IONIQ 5 N, IONIQ 6 N Drift Spec, and IONIQ 6 N with N Performance parts. Hyundai promises each vehicle brings unique capabilities to the event, “guaranteeing a dynamic and thrilling on-track experience for all attendees.” Check back soon for more info.
What do you think of Hyundai’s new electric sports car? Would you buy one over the Porsche Taycan? Let us know in the comments.
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Elon Musk said that Tesla owners will “soon” have access to Grok, a large language developed by Musk’s xAI startup, days after the AI started calling itself ‘MechaHitler’.
Yesterday, xAI launched Grok 4, the latest version of its large language model.
The new model is benchmarking very well, but that’s generally the case with the latest model to come out. It edges the latest models from Google and OpenAI on intelligence by a few points, but it falls behind on speed:
At the launch event, Musk announced that Grok will “soon” be integrated into Tesla vehicles.
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This is something that the CEO has been discussing since founding xAI, which has been controversial because Musk has also positioned Tesla to compete in the AI space. He even stepped down from his role at OpenAI due to a “conflict of interest with Tesla.”
The announcement of the imminent integration of Grok into Tesla vehicles comes just days after the language model went haywire on X and started praising Hitler, referring to itself as ‘MechaHitler’, and made several antisemitic comments.
xAI acknowledge the issue and put Grok on timeout while they fixed it:
We are aware of recent posts made by Grok and are actively working to remove the inappropriate posts. Since being made aware of the content, xAI has taken action to ban hate speech before Grok posts on X. xAI is training only truth-seeking and thanks to the millions of users on X, we are able to quickly identify and update the model where training could be improved.
The “bug” came just a few weeks after Musk stated that he was displeased with Grok supporting left-wing narratives, even though it didn’t say anything inncurate, and that he would update Grok to “fix” it.
Now, the large language model (LLM) is expected to power the new voice assistant inside Tesla vehicles.
LLMs are becoming quite common in cars, especially premium vehicles. Ford, Mercedes-Benz, Stellantis, and a few others have all integrated Chat-GPT in some models.
Many Chinese automakers have also developed their own and deployed them in cars, even entry-level ones.
Tesla is playing catch up on that front.
Electrek’s Take
As I have previously stated, I think Musk is setting up Tesla to invest or even merge with xAI at a ridiculous valuation – making Tesla shareholders virtually pay twice for Twitter, which is now part of xAI.
This is how he will be able to gain wider control over the company’s share.
From the first discovery in Prudhoe Bay in 1968, Alaskans have had a love-hate relationship with oil.
On one hand, it allowed Alaska to abolish its state income tax, fund most government operations and provide every Alaskan with a dividend that continues to this day. On the other hand, it has left the state at the near total mercy of the global oil market.
In recent years, that has proven to be a bad bet. And it is the major reason Alaska finishes at the bottom of the CNBC America’s Top States for Business rankings in 2025.
With the price of Alaska North Slope crude oil down by double digits from a year ago, according to the Alaska Department of Revenue, Alaska has America’s worst economy as measured by the CNBC study. Economy is the heaviest-weighted category under this year’s methodology.
More coverage of the 2025 America’s Top States for Business
Alaska’s gross domestic product growth is in the bottom ten nationally. The state’s economy grew by just 1.5% last year, compared to 2.8% nationally.
More crucially, the state’s fiscal year 2026 budget is based on a forecast of $68 per barrel for crude oil, and it is unclear if that will hold. Alaska North Slope crude traded as low as $63.49 on May 5 before rebounding above $70 in recent weeks. State forecasters are counting on oil for around 70% of the state’s revenue over the next ten years, or nearly half the state’s operating budget. And some localities are far more dependent.
“When you look at the economic engine by default,” North Slope Borough Mayor Josiah Patkotak told CNBC last month, “That happens to be oil and gas by about 98% of our operating budget.”
$40 billion bet on natural gas as diversifier
For decades, Alaska has sought ways to diversify its economy, but it has had limited success. Proposals have involved alternative energy, agriculture, and the state’s tourism sector.
Alaska Governor Mike Dunleavy speaks during a news conference at his office in Anchorage, Alaska, U.S. March 22, 2022.
Yereth Rosen | Reuters
In 2023, Gov. Mike Dunleavy, a Republican, signed legislation to put Alaska into the carbon market, using the state’s vast public lands for carbon storage, and to generate carbon offset credits for high carbon emitters in other states. But the program is still in the study phase. A report to the legislature in January said the program is not expected to generate any revenue until at least 2027.
More recently, the Trump administration is backing a proposal to build a natural gas pipeline alongside the Trans-Alaska oil pipeline, allowing the U.S. to ship liquid natural gas — a byproduct of North Slope oil production — to Asia.
The idea has been around for years, but the price tag, estimated at around $40 billion, was impossible for the industry to swallow even when petroleum prices were high.
Now, however, administration officials think that trade tensions might change the economics.
“There [are] countries around the world looking to shrink their trade deficit with the United States, and of course, a very easy way to do that is to buy more American energy,” U.S. Energy Secretary Chris Wright told CNBC’s Brian Sullivan in Prudhoe Bay last month.
“If you get the commercial offtakers for the gas, financing is pretty straightforward,” Wright said.
If the project gets off the ground, it could provide a huge boost to Alaska’s economy, though it would still be at the mercy of commodity prices.
Lack of tech infrastructure, high costs
Alaska’s struggling economy is a major reason for its poor competitive performance, but it is not the only one.
The state ranks No. 49 in Infrastructure. While the state’s roads and bridges are in better shape than in many states in the Lower 48, its virtual infrastructure leaves much to be desired. Fewer than 2% of Alaskans have access to affordable broadband service, according to BroadbandNow Research. The data center boom has passed Alaska by thus far, with only four in the entire state.
Alaska is a notoriously expensive place to live, especially in the many remote parts of the state.
“When you’re paying 16 bucks a gallon for milk, we’ve got to figure out how to make sure that you can afford to buy the milk so you can live here. We’ve got to make sure you can afford to buy the gas so you can hunt here,” said Patkotak.
But one aspect of life is a bargain in Alaska. At a time of soaring homeowner premiums, online insurance marketplace Insurify projects Alaska homeowners insurance premiums will average $1,543 this year, the second lowest in the nation.
Join the conversation. Didn’t see your state mentioned? You can see where it ranked overall, and in all 10 categories of competitiveness, in the full rankings of the 2025 America’s Top States for Business.