Connect with us

Published

on

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.   

Continue Reading

Environment

After 300 years of innovation, Husqvarna definitely dreams of electric sheep

Published

on

By

After 300 years of innovation, Husqvarna definitely dreams of electric sheep

Founded in 1689, Husqvarna was a musket maker for the king of Sweden – but now, the company best known for quirky motorcycles and commercial riding mowers is becoming an innovator in the field of robotics, and its latest fleet of electric autonomous mowers are eager to get grazing.

Husqvarna’s autonomous lawnmowers made history earlier this year at the AIG Women’s Open, when they became the first autonomous groundskeeping solution to see duty during a UK Major golf week.

“At the AIG Women’s Open, the Husqvarna portfolio is helping us deliver this goal through improved resource management, regular lightweight mowing and reduced carbon usage,” explains Royal Porthcawl’s Course Manager, Ian Kinley, who has championed the use of robotic technology at the course. “With the AIG Women’s Open set to be the largest-ever women’s sporting event in Wales, we know there’s tremendous pressure to produce playing surfaces that are worthy of such a high-profile event.”

The robots themselves operate a bit differently than Husqvarna’s traditional line of big, bad, zero-turn riding mowers that whip through thick grass once or twice a month with heavy, whirling blades. Instead, they employ a series of tiny razor blades that gently nibble at the grass daily – just like little electric sheep grazing on the turf.

Advertisement – scroll for more content

“That cutting system, developed by Husqvarna engineers, has then become the basis for the entire robot mower industry, of which we’re the market leader,” Nick Rawson, VP of Strategy and Business Development at Husqvarna told Forbes.

Events like the AIG Women’s Open are proving that the little robot Huskies can get the job done quietly, sustainably, and with significantly less operator input. As such, you’d think everyone at Husqvarna would be excited about them.

You’d be wrong. The company’s franchise dealers have been hesitant to push them forward, effectively putting the parent company in the position of going B2C, or going home.

“Dealers live and breathe the previous technology,” said Yvette Henshall-Bell, Husqvarna’s President of its Forest and Garden division for Europe, in that same Forbes piece. “They want to protect that servicing, that aftermarket revenue. Whereas if they really thought about what the customer’s problems are and the job to be done, they would be looking at a completely different solution.”

A solution, frankly, that looks a lot like a little robot mower.

The things, themselves


Autonomous mowers at Women’s Open; via Husqvarna.

Husqvarna offers three types of autonomous electric mowers aimed at commercial golf courses, but the Husqvarna CEORA for large-area mowing, and Husqvarna Automower, for smaller, steeper and more complex areas, are the models relevant to this story.

The bigger CEORA can handle up to 18 acres of ground twice each week, while the Automower, with its 80V battery and pinpoint precision EPOS (Exact Positioning Operating System) software, can handle another 2.5 acres. Both are fully electric, and can guide themselves back to their pens to recharge as needed.

Prices aren’t public, but the Husqvarna CEORA and Automowers are available as part of a custom lease package through Husqvarna Finance that will include access to the company’s customizable back end and ongoing support. Check with your local dealer for more.

Electrek’s Take


As a typically pro-union, pro-labor type of guy, I am hesitant to heap praise upon a robot taking away anyone’s job. That said, it does seem to be difficult for landscapers and construction crews to keep and find good labor at rates they can afford (and, let’s face it – the current Trump Administration isn’t going to be making that any easier). As such, if companies like Husqvarna and John Deere and Einride and others can build a demonstrably better mousetrap at a compelling price point … good for them. (?)

Let us know what you think in the comments.

SOURCES: Forbes, Golf Monthly; images by Husqvarna.


Did you know: grid-connected solar systems automatically shut off when the grid fails? That means you won’t have power in a blackout, even with solar panels.

To keep the lights on, you’ll need a whole home backup battery – your personalized solar and battery quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. The best part? No one will call you until after you’ve decided to move forward. Get started today, hassle-free, by clicking here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Podcast: Apple CarPlay in Tesla cars, VW on Superchargers, Toyota electric pickup, and more

Published

on

By

Podcast: Apple CarPlay in Tesla cars, VW on Superchargers, Toyota electric pickup, and more

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Apple CarPlay possibly coming to Tesla cars, VW getting access to Superchargers, a Toyota electric pickup, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

Advertisement – scroll for more content

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

October EV sales slid, but deals and rebates are still in play

Published

on

By

October EV sales slid, but deals and rebates are still in play

US EV sales declined in October following the expiration of the $7,500 federal tax credit on September 30, and the average transaction price (ATP) edged up, according to initial estimates from Kelley Blue Book, a Cox Automotive brand. However, there are still deals to be had.

Kelley Blue Book’s initial estimates show that US EV sales fell to 74,835 in October, down 48.9% from September, which was a record month, and 30.3% year-over-year.

Prices also ticked up. The average transaction price (ATP) for a new EV climbed 1.6% month-over-month to $59,125, which is 2.3% higher than a year ago.

Tesla didn’t escape the downturn, but it held up better than the overall EV market. The company’s ATP fell 1.1% from September to $53,526, and its prices are 5.5% lower than they were in October 2024. Sales of the Model 3 and Model Y both declined month-over-month, and overall Tesla sales decreased by 35.3% from September and 23.6% year-over-year, which are smaller declines compared to the broader EV segment.

Advertisement – scroll for more content

Cox Automotive senior analyst Stephanie Valdez Streaty said the shift wasn’t surprising:

We expected this shift in the electric vehicle market. With the IRA-backed sales incentives gone, lower-cost EV volume was hit hard, pushing the mix toward more luxury and driving October’s EV ATP to a 2025 high of $59,125 – now $9,359 above the industry average. Affordability has always been the core challenge with EV sales, and this reset only underscores how critical it is to bring more attainable EV options to market.

Electrek’s Take

September was a record-breaking month for both EV deals and sales. Dealers were offering all sorts of sweet incentives to stack with the federal tax credit to move cars off the lot. October’s sales drop was entirely anticipated, like a pounding headache after a big blowout party.

We didn’t know what the post-federal tax credit EV market would look like. As Valdez Streaty rightly states, EVs do have a higher ATP than the industry average. But it turns out that, so far, it’s not all doom and gloom, and the federal tax credit isn’t the only incentive in town.

Every month, I compile great EV lease deals, and for the last few months, some EVs’ monthly lease payments have been cheaper than before the federal tax credit expired. Many states are still offering rebates on EV purchases, and dealers still have really good deals. While cheaper models would definitely be welcome, there are good deals available right now.

And let’s not forget the fact that EVs are much cheaper to drive than gas cars, with or without that tax credit.

Read more: From $189 a month: 5 of the best EV lease deals in November [Updated]


If you’re looking to replace your old HVAC equipment, it’s always a good idea to get quotes from a few installers. To make sure you’re finding a trusted, reliable HVAC installer near you that offers competitive pricing on heat pumps, check out EnergySage. EnergySage is a free service that makes it easy for you to get a heat pump. They have pre-vetted heat pump installers competing for your business, ensuring you get high quality solutions. Plus, it’s free to use!

Your personalized heat pump 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. – *ad

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending