A view from the Alaska Bootanical Park, fall, Halloween and harvest season themed version of the Alaska Botanical Park with special displays, inside the Far North Bicentennial Park, Alaska, United States on September 22, 2024.
Hasan Akbas | 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.
GM’s not slowing down General Motors aims to bring in between $13 billion and $15 billion in adjusted earnings before interest and taxes for 2024. The Detroit automaker also expects its 2025 adjusted earnings to be in a “similar range,” said CFO Paul Jacobson during the company’s investor day. That’d be an accomplishment, given the slowdown in the industry.
Shorting Roblox Short seller Hindenburg Research alleged on Tuesday that Roblox conflated daily active users with the number of people visiting its platform. This distorts the true number of people accessing Roblox because DAUs could include bots or alternate accounts, Hindenburg said. Roblox denies all claims in the report.
[PRO] Slower earnings growth Third-quarter earnings season ramps up this week, with banking giant JPMorgan Chase slated to announce its financial results on Friday. Investors might want to temper expectations. For companies in the S&P 500, Wall Street projects a slower pace of earnings growth compared with its estimate in June, according to FactSet data.
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.)
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.
A Vestas wind turbine near Baekmarksbro in Jutland.
Afp | Getty Images
European wind power stocks tumbled Wednesday after President-elect Donald Trump said he would prevent the construction of new turbines.
“We’re going to try and have a policy where no windmills are being built,” Trump told reporters at a press conference at his Mar-a-Lago home in Florida on Tuesday afternoon.
The Danish wind turbine manufacturer Vestas Wind Systems and Danish wind developer Orsted fell about 7% Wednesday in the wake of Trump’s remarks.
The president-elect went on a lengthy attack against wind turbines during yesterday’s press conference, arguing that they are too expensive, require subsidies and lack public support.
Trump’s opposition to wind power creates further challenges for an industry that has already struggled in the face of high interest rates that have raised the cost of developing new projects more expensive. In late 2023, for example, Orsted took a $4 billion writedown and canceled two offshore wind projects off the coast of New Jersey.
Still, wind power has expanded in the U.S., growing from 2.4 gigawatts in 2000 to 150 gigawatts by April 2024, according to data from the Energy Information Administration. Electricity generation from wind hit a record in April 2024 and beat generation from coal-fired plants, according to EIA data.
The US Department of Energy (DOE) has released an encouraging new report revealing that 90% of wind turbine materials are already recyclable using existing infrastructure, but tackling the remaining 10% needs innovation.
That’s why the Biden administration’s Bipartisan Infrastructure Law has allocated over $20 million to develop technologies that address these challenges.
Why this matters
The wind energy industry is growing rapidly, but questions about what happens to turbines at the end of their life are critical. Recyclable wind turbines means not only less waste but also a more affordable and sustainable energy future.
According to Jeff Marootian, principal deputy assistant secretary for the Office of Energy Efficiency and Renewable Energy, “The US already has the ability to recycle most wind turbine materials, so achieving a fully sustainable domestic wind energy industry is well within reach.”
The report, titled, “Recycling Wind Energy Systems in the United States Part 1: Providing a Baseline for America’s Wind Energy Recycling Infrastructure for Wind Turbines and Systems,” identifies short-, medium-, and long-term research, development, and demonstration priorities along the life cycle of wind turbines. Developed by researchers at the National Renewable Energy Laboratory, with help from Oak Ridge and Sandia National Laboratories, the findings aim to guide future investments and technological innovations.
What’s easily recyclable and what’s not
The bulk of a wind turbine – towers, foundations, and steel-based drivetrain components – is relatively easy to recycle. However, components like blades, generators, and nacelle covers are tougher to process.
Blades, for instance, are often made from hard-to-recycle materials like thermoset resins, but switching to recyclable thermoplastics could be a game changer. Innovations like chemical dissolution and pyrolysis could make blade recycling more viable in the near future.
Critical materials like nickel, cobalt, and zinc used in generators and power electronics are particularly important to recover.
Key strategies for a circular economy
To make the wind energy sector fully sustainable, the DOE report emphasizes the adoption of measures such as:
Better decommissioning practices – Improving how turbine materials are collected and sorted at the end of their life cycle.
Strategic recycling sites – Locating recycling facilities closer to where turbines are decommissioned to reduce costs and emissions.
Advanced material substitution – Using recyclable and affordable materials in manufacturing.
Optimized material recovery –Developing methods to make recovered materials usable in second-life applications.
Looking ahead
The DOE’s research also underscores the importance of regional factors, such as the availability of skilled workers and transportation logistics, in building a cost-effective recycling infrastructure. As the US continues to expand its wind energy capacity, these findings provide a roadmap for minimizing waste and maximizing sustainability.
More information about the $20 million in funding available through the Wind Turbine Technology Recycling Funding Opportunity can be found here. Submission deadline is February 11.
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Mazda is finally stepping up with plans to build its first dedicated EV. The upcoming Mazda EV will be made in Japan and based on a new in-house platform. Here’s what we know about it so far.
The first dedicated Mazda EV is coming soon
Although Mazda isn’t the first brand that comes to mind when you think of electric vehicles, the Japanese automaker is finally taking a step in the right direction.
Mazda revealed on Monday that it plans to build a new module pack plant in Japan for cylindrical lithium-ion battery cells.
The new plant will use Panasonic Energy’s battery cells to produce modules and EV battery packs. Mazda plans to have up to 10 GWh of annual capacity at the facility. The battery packs will power Mazda’s first dedicated EV, which will also be built in Japan using a new electric vehicle platform.
Mazda said it’s “steadily preparing for electrification technologies” under its 2030 Management Plan. The strategy calls for a three-phase approach through 2030.
The first phase calls for using its existing technology. In the second stage, Mazda will introduce a new hybrid system and EV-dedicated vehicles in China.
The third and final phase calls for “the full-fledged launch” of EVs and battery production. By 2030, Mazda expects EVs to account for 25% to 40% of global sales.
Mazda launched the EZ-6, an electric sedan, in China last October. It starts at 139,800 yuan, or around $19,200, and is made by its Chinese joint venture, Changan Mazda.
Based on Changan’s hybrid platform, the electric sedan is offered in EV and extended-range (EREV) options. The all-electric model gets up to 600 km (372 miles) CLTC range with fast charging (30% to 80%) in 15 minutes.
At 4,921 mm long, 1,890 mm wide, and 1,485 mm tall with a wheelbase of 2,895 mm, Mazda’s EZ-6 is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall with a 2,875 mm wheelbase).
Inside, the electric sedan features a modern setup with a 14.6″ infotainment, a 10.1″ driver display screen, and a 50″ AR head-up display. It also includes zero-gravity reclining seats and smart features like voice control.
The EZ-6 is already off to a hot sales start, with 2,445 models sold in November. According to Changan Mazda, the new EV was one of the top three mid-size new energy vehicle (NEV) sedans of joint ventures sold in China in its first month listed.
Will Mazda’s first dedicated EV look like the EZ-6? We will find out with Mazda aiming to launch the first EV models on its new in-house platform in 2027. Stay tuned for more.
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