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A man covering his head with Halloween pumpkin sits as trees’ leaves turns the colors of the autumn season at Central Park in New York, United States on October 30, 2023. 

Fatih Aktas | Anadolu | 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

Rebound rally
U.S. stocks
rebounded on Tuesday, with all major indexes rising. Technology stocks, in particular, rallied to lift the Nasdaq Composite. Asia-Pacific markets traded mixed on Wednesday. China’s Shanghai Composite slumped around 4.9% after rocketing in early October. Hong Kong’s Hang Seng index rose 0.5%, recovering slightly from its 9.41% plummet on Tuesday, its worst day in 16 years.

Google, it’s not me, it’s you
Breaking up Google is one recommendation the U.S. Department of Justice made to remedy the tech giant’s monopoly in the search market – a ruling the courts reached in August after the U.S. government filed a case against Google in 2020. Legal experts, however, think a break-up isn’t very likely and that the courts will order Google to pursue other remedies.

Cooling oil prices
Crude oil prices fell on Tuesday amid reports by The New York Times and The Jerusalem Post that Israel might focus on striking Iran’s military sites in retaliation for its missile attacks. Both West Texas Intermediate and Brent futures retreated 4.63% during U.S. trading hours Tuesday, halting the red-hot rally oil prices have experienced the past week. 

New Zealand cuts rates
The Reserve Bank of New Zealand slashed interest rates by half a percentage point on Wednesday. It’s the second consecutive cut after the RBNZ unexpectedly lowered rates by a quarter point in August. The central bank’s likely to make another half-point cut in November, Paul Bloxham, HSBC’s chief economist for Australia and New Zealand, told CNBC.

[PRO] Time to invest in China?
China’s blue-chip CSI 300 index popped 5.93% on Tuesday after markets returned from their seven-day Golden Week holiday. However, there are signs the sizzling rally is cooling. The CSI 300 is currently down around 3.6% as of Wednesday morning. On the back of such turbulence, CNBC Pro asks two strategists whether now’s the time to invest in China.

The bottom line

October in the U.S. is the season for pumpkin spice, but the month also harbors the dangerous edge of Halloween.

And getting spooked and soothed alternately is indeed what markets are doing in October.

After falling 0.96% on Monday, the S&P 500 added 0.97% on Tuesday. (Though it should be noted that doesn’t necessarily mean the S&P erased its losses and is up 1 basis point from Monday to Tuesday. Percentages are hard.)

Likewise, the Nasdaq Composite slipped 1.18% Monday but climbed 1.45% yesterday, zapped higher by a rally in tech stocks like Nvidia, Palo Alto Networks and Meta. The Dow Jones Industrial Average didn’t have that dramatic a swing, losing 0.94% Monday but advancing 0.3% Tuesday.

October, then, is truly living up to its reputation as the most volatile month for stocks. But investors should keep in mind the uncomfortable swings in markets aren’t always a good signal for the underlying health of stocks.  

“While our expectation is for October to remain choppy, we don’t view the overall market action to be bearish and encourage investors to maintain perspective on the longer-term trends,” Robert Sluymer, technical strategist at RBC Wealth Management, wrote to clients in a Tuesday note.

Investment bank Piper Sandler has the same opinion on October’s turbulence. “October is historically a ‘backing and filling’ month as investors react to Q3 earnings results,” Craig Johnson, chief market technician, wrote in a Tuesday note.

In fact, when stocks dip because of mild repricing or a correction, that’s a good opportunity for investors to swoop in, according to Johnson.

The see-saw motion of stocks in October isn’t all that bad, then, if investors can seize the right time to enter the market or solidify their positions further. It doesn’t have to be spooky season all the time. 

– CNBC’s Hakyung Kim, Samantha Subin and Alex Harring contributed to this story.   

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Coca-Cola expands electric delivery fleet with thousands of e-rickshaws

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Coca-Cola expands electric delivery fleet with thousands of e-rickshaws

Coca-Cola’s bottling partners in India are going electric, three wheels at a time. The company just announced a major expansion of its electric delivery fleet, adding thousands of electric three-wheeled vehicles (often called e-rickshaws or electric tuk-tuks) to its logistics operations across the country.

These compact electric vehicles are already a common sight on India’s roads, used for everything from passenger transport to last-mile cargo deliveries. Now Coca-Cola’s bottlers are ramping up their use of these efficient EVs as part of a broader sustainability and welfare initiative dubbed “Vividhta ka Uphaar,” which translates to “a gift of diversity.”

According to the company, the rollout is already underway, with more than 5,000 electric three-wheelers integrated into delivery routes in cities such as Ahmedabad, Bhubaneswar, Bhopal, and more. The vehicles not only reduce tailpipe emissions but also lower noise pollution and operating costs, making them a win for both the company and the communities they serve.

Coca-Cola joins a growing list of multinational corporations turning to electric tuk-tuks to clean up their delivery fleets in Asia. IKEA has deployed similar electric three-wheelers in India and other Southeast Asian countries as part of its push to achieve zero-emissions deliveries. Amazon and Flipkart have also experimented with three-wheeled EVs to reach urban customers on tight, traffic-clogged streets.

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While North America often focuses on four-wheeled electric trucks and vans for commercial use, much of the developing world relies on these nimble three-wheeled workhorses. Affordable, maneuverable, and easy to charge, electric rickshaws are a natural fit for dense cities with hot climates – especially where small businesses and large corporations alike need efficient last-mile solutions.

Electrek’s Take

These types of EVs can’t come soon enough. They use electric drivetrains that are closer in size to an electric bicycle than an electric delivery truck or van (usually 2-4kW motors and 3-5 kWh batteries), yet can carry loads closer in size to those same trucks and vans.

Sure, they can’t carry quite the same tonnage, but they’re often more appropriately sized for the kind of last-mile delivery that so many companies require.

I actually bought an electric tuk-tuk back in 2023 and found it to be the perfect ‘city truck’ for my lifestyle, where I live car-free in a city and my wife and I travel by e-bike and e-motorcycle. For the few times we need to actually haul stuff, an electric tuk-tuk or rickshaw gives truck-like capacity in a smaller and more efficient vehicle. What’s not to like?!

Images via: Coca-Cola

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Yangwang U9 Xtreme cracks 300 mph to become fastest production car EVER [video]

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Yangwang U9 Xtreme cracks 300 mph to become fastest production car EVER [video]

Move over, Bugatti! The new Chinese Yangwang U9 Xtreme electric hypercar just blasted its way to a staggering, 308.4 mph top speed on a German test track, seizing the “world’s fastest car” crown and busting the last traces of the myth that electric cars are slow.

Just weeks after BYD announced that the nearly 3,000 hp, all-electric Yangwang U9 Track Edition model set a new global speed record for electric vehicles after hitting a ridiculous 472.41 km/h (~293 mph), the Yangwang crew returned to Germany’s Automotive Testing Papenburg GmbH (ATP) test track with the U9 Xtreme with its sights set on a new goal. They didn’t want the world’s fastest EV title – they wanted the world’s fastest production car title. Period.

The BYD Yangwang crew got that record, rocketing all the way to 496.22 km/h – that’s 308.4 mph to you and me!

“This record was only possible because the U9 Xtreme simply has incredible performance,” explains German GT racing driver Marc Basseng, who piloted the Chinese EV on its record-setting run. “Technically, something like this is not possible with a combustion engine. Thanks to the electric motor, the car is quiet, there are no load changes, and that allows me to focus even more on the track.”

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The Yangwang U9 features the world’s first mass-produced 1,200V ultra-high-voltage vehicle platform. Developed by BYD, the car is powered by the company’s latest li-ion phosphate batteries in BYD’s now-familiar “blade” configuration.

The U9 Xtreme’s record-setting run dethrones the previous Bugatti Chiron Super Sport 300+, which managed 304.8 mph back in 2019. The Bugatti now has to settle for the lesser “world’s fastest combustion-powered production car” title, which is objectively lame.

Definitely NOT lame


Yangwang U9 Xtreme; via BYD.

The company says it’s selling “no more than 30” of the Xtreme U9 EVs, presumably to customers with incredibly long driveways. The Xtreme version features smaller, 20″ wheels (instead of 21s), and gets wider, 325 mm tires (up from 275 mm) to match the rears. The fronts also ride on a narrower track.

You can watch Marc Messang put the 3,000 hp Yangwang U9 Xtreme electric hypercar to the test in the video, below, then let us know what you think of China’s first-ever world record-setting vehicle in the comments section at the bottom of the page.

Fastest production car EVER


SOURCE: CarNewsChina.


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10,000 buyers snapped up 776 hp electric AUDI wagon – in its first 30 minutes!

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10,000 buyers snapped up 776 hp electric AUDI wagon – in its first 30 minutes!

With dual electric motors pumping out 776 hp, over 400 miles of all-electric range, and a relatively low MSRP, the new AUDI E5 Flagship Quattro electric wagon is electrifying the Chinese wagon market – scoring over 10,000 orders in its first thirty minutes on sale!

First launched last fall, the new Audi-backed AUDI sub-brand kept the sexy wagon aesthetic but ditched the Germans’ interlocking rings and Auto Union heritage in favor of a simple, all-caps AUDI logo on the E concept wagon. Now seen in production trim, the production AUDI E5 Sportback is surprisingly true to the original concept – except in the horsepower department, that is.

But, while a production car having lower horsepower figures than the concept car that preceded it is pretty typical, the production AUDI E5 is different: it actually offers more peak power than the 765 hp concept!

That’s right, kids! the range-topping Flagship Quattro version of the new AUDI E5 Sportback offers buyers 776 horsepower (that’s 11 more than the concept), and gets 402 miles (CLTC) of range from its 100 kWh battery. And, while that version is a monster, even the base-level Pioneer version at just 235,900 yuan ($33,000, as I type this) offers a 76 kWh battery pack sending power to a 295 hp rear-mounted electric motor and over 600 km of range (~385 miles).

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It’s a solid achievement in value and tech, and the Audi people seem pretty proud of themselves. “The AUDI E5 Sportback is our first model based on the Advanced Digitized Platform, and it delivers on our brand promise: the best of both worlds,” says Fermín Soneira, CEO of the Audi and SAIC Cooperation Project. “Audi’s DNA and engineering excellence is blended with China’s digital ecosystem and innovations, specifically tailored for our tech-savvy customers.”

And it’s pretty.

AUDI E5 Sportback


The wagon’s exterior, while not necessarily shouting “Audi” in the conventional, Western sense, is still proportioned well enough to carry the four rings (or, looked at another way, a VW logo). But, while it’s a great-looking wagon on the outside, it’s on the inside that the all-new E5 AUDI Sportback really sets itself apart.

The interior of the AUDI E5 Sportback is noticeably different from any Audi model, being much more inline with similar entry-luxe EVs sold in China. The E5 dash also sports a 59″-inch” wide screen that stretches across the entire dash, digital side mirrors, Alcantara seating surfaces, and wireless phone chargers.

All that tech is powered by the QUALCOMM Snapdragon 8295 automotive chipset with 5-nanometer precision and the ability to perform 30 billion operations per second, and the Chinese-market AUDI OS offers what its makers call, “an intuitive experience designed to make the vehicle occupants’ lives easier.”

You can take a look at the new E5 Sportback’s interior, below, then let us know whether or not you think an Audi AUDI like this (and its purple mood lighting) would be a hot seller Stateside in the comments.

E5 Sportback interior


SOURCE | IMAGES: AUDI.


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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.

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