Technology stocks stood tall in the first week of December trading, helping the S & P 500 and Nasdaq Composite finish Friday’s session at record closing highs. The tech-heavy Nasdaq lead the way with a 3.3% gain for the week. The S & P 500 closed nearly 1% higher. Both indexes are now riding three-week win streaks. The Dow Jones Industrial Average , meanwhile, pulled back last week. The 30-stock gauge was largely weighed down by shares of UnitedHealth Group, which came under pressure after the CEO of its insurance segment, Brian Thompson, was killed in a targeted attack in New York City . .IXIC .SPX 1M mountain The Nasdaq Composite versus the S & P 500 over the past month. The big economic release of the week arrived Friday in the form of the November nonfarm payrolls report . The U.S. economy added more jobs than economists had predicted — 227,000 versus the Dow Jones estimate of 214,000 — while the unemployment rate ticked up to 4.2%, as expected. Average hourly earnings were up 4% on a 12-month basis, a pinch above expectations. Economists and investors alike keep a close eye on that metric to help understand inflationary pressures in the economy. Odds of another quarter-point cut rate at the Federal Reserve’s mid-December policy meeting increased following Friday’s jobs data, according to the CME FedWatch tool . Earlier in the week, a look at private-sector job growth from payroll processor ADP came in a bit below forecasts, at 146,000 versus the 161,500 estimate. The week’s batch of non-jobs economic data was relatively mixed. On Monday, a better-than-expected November ISM manufacturing report still showed that the U.S. manufacturing sector contracted last month — but at a slower pace than what we saw in October, at least. The reading was 48.4 versus 47.5 expected. Anything below 50 indicates contraction. Meanwhile, the Commerce Department’s look at October factory orders on Wednesday was in line with expectations, up 0.2% compared with the prior month. That put an end to two-month streak of declines. Also on Wednesday, the November ISM services report — a look at activity in industries from health care to forestry to finance, among others — came in solidly below projections, at 52.1 versus 55.5 expected. Nevertheless, it pointed to continued expansion in a critical part of the U.S. economy. November marked the fifth consecutive month of services expansion in the ISM report. And now 51 out of 54 readings since June 2020 during the Covid-19 pandemic have been expansionary. Within the portfolio, Salesforce provided a very positive update after the close on Tuesday. The enterprise software giant reported solid earnings and offered upbeat commentary on its new artificial intelligence platform Agentforce , which sent shares jumping in Wednesday’s session. Salesforce finished the week as the second best Club stock, climbing 9.7%. The only better performer was Broadcom , which gained 10.8% thanks in large part to a 5.3% surge in Friday’s session. The rally Friday accelerated after a Bloomberg News report said fellow Club holding Apple expects to continue using a radio-frequency chip from Broadcom in the iPhone. Previous reporting suggested Apple planned to drop it next year. Salesforce and Broadcom contributed to the S & P 500’s technology sector being one of three to finish the week in positive territory, adding 3.4%. Tech was joined in the green by top-performing consumer discretionary, which gained 5.85%, and communication services, which rose 4.1% for second place. Big advances for Tesla and Club name Amazon helped lift the consumer discretionary sector to the No. 1 spot — and that’s notable given both stocks are usually lumped in with the broader “tech trade” despite their formal classification. A similar story played out in communication services, with its three biggest constituents by market cap — Google parent Alphabet , Meta Platforms , and Netflix — all climbing. We own Alphabet and Meta for the Club. The remaining eight sectors in the S & P 500 ended the week lower, led to the downside by energy, utilities, and materials. Energy stocks didn’t get any help from commodities. U.S. crude prices suffered their second straight weekly loss, down 1.2%, while natural gas futures slid 8.5%, their first negative week in seven. In the coming days, inflation data will command a great deal of attention — plus, we’ll get earnings from two of the best performing Club holdings this year. Economy All eyes will be on the November consumer price index due out Wednesday morning. Economists are expecting to see a 2.7% year-over-year increase at the headline level, according to Dow Jones. The consensus estimate for core CPI, which strips out the impact of volatile food and energy prices, is a 3.2% annual rise, per Dow Jones. The shelter price index will be an important component of the CPI report, given that housing costs have been a huge source of upward pressure on inflation. The November producer price index will be out Thursday, with economists forecasting a 0.2% increase from the prior month, according to Dow Jones. The consensus for core PPI, which also excludes food and energy, is a 0.2% month-over-month increase, too. The PPI report isn’t as closely watched as the CPI reading, but it is still important because it tracks input costs for various businesses. Those inputs impact profit margins and therefore can influence the final selling prices of goods. In that sense, it can help foreshadow future CPI reports. Both reports are particularly notable because they’ll be our last update on inflation before the Fed’s upcoming policy meeting, which wraps up Dec. 18. That’s when the central bank will announce its decision on interest rates followed by Chair Jerome Powell’s closely watched press conference. Earnings Broadcom and Costco are both set to report after the close Thursday. For the three months ended in October, Wall Street expects that Broadcom earned $1.38 per share on sales of $14.1 billion, according to estimates compiled by LSEG, as of Friday. In addition to the headline numbers, we’re interested in hearing about the momentum in Broadcom’s AI networking business, which has proven to be the real growth driver over the past year. We also want to see further confirmation that its legacy hardware businesses — think chips used in end markets such as wireless, broadband and industrial — remains in the process of rebounding. On the software side, management’s commentary on the blockbuster VMWare acquisition will be front and center. How is the overall demand environment? How is the integration into Broadcom going, and is it leading to any additional sales opportunities? And finally, any updates on Broadcom’s capital return plans will be notable. Analysts at Wells Fargo are expecting Broadcom to increase its dividend payout by 12% to 15% and perhaps announce board authorization for a new share repurchase program. For Costco, the Street is looking for quarterly sales of $62.1 billion and earnings of $3.79 per share, according to LSEG, as of Friday. Keep in mind that Costco’s topline is largely known as this point because the company provides sales data on a monthly basis. Instead, the focus will be on profits and shopping activity, such as foot traffic and buyer preferences. We’re also interested to hear if the implementation of card scanners has sparked an increase in membership signups — something analysts at Morgan Stanley have suggested could lead to a “Netflix moment” for the retailer . Week ahead Monday, Dec. 9 After the bell: Oracle (ORCL), MongoDB (MDB), Toll Brothers (TOL), Casey’s General Stores (CASY), and C3.ai (AI) Tuesday, Dec. 10 Before the bell: AutoZone (AZN), Academy Sports and Outdoors (ASO), Ollie’s Bargain (OLLI), and Designer Brands (DBI) After the bell: GameStop (GME), Stitch Fix (SFIX), and Dave & Buster’s (PLAY) Wednesday, Dec. 11 8:30 a.m. ET: consumer price index Before the bell: Macy’s (M) and REV Group (REVG) After the bell: Adobe (ADBE) and Nordson (NDSN) Thursday, Dec. 12 8:30 a.m. ET: initial jobless claims 8:30 a.m. ET: producer price index Before the bell: Ciena (CIEN) After the bell: Broadcom (AVGO) and Costco (COST) (Jim Cramer’s Charitable Trust is long CRM, AVGO, META, GOOGL, AMZN and AAPL. See here for a full list of the stocks.) 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.
The Nasdaq MarketSite in New York, US, on Wednesday, Nov. 6, 2024.
Michael Nagle | Bloomberg | Getty Images
Technology stocks stood tall in the first week of December trading, helping the S&P 500 and Nasdaq Composite finish Friday’s session at record closing highs.
Portable power station specialist EcoFlow is kicking off its third annual Member’s Festival this month and is offering a unique new rewards program to those who become EcoFlow members. The 2025 EcoFlow Member’s Festival will offer savings of up to 65% for its participating customers, and a portion of those funds will be allocated toward rescue power solutions for communities around the globe through the company’s “Power for All” fund.
EcoFlow remains one of the industry leaders in portable power solutions and continues to trek forward in its vision to power a new tech-driven, eco-conscious future. Per its website:
Our mission from day one is to provide smart and eco-friendly energy solutions for individuals, families, and society at large. We are, were, and will continue to be a reliable and trusted energy companion for users around the world.
To achieve such goals, EcoFlow has continued to expand its portfolio of sustainable energy solutions to its community members, including portable power stations, solar generators, and mountable solar panels. While EcoFlow is doing plenty to support its growing customer base, it has expanded its reach by giving back to disaster-affected communities by helping bolster global disaster response efforts the best way it knows how– with portable power solutions.
Source: EcoFlow
EcoFlow and its members look to provide “Power for All”
Since 2023, EcoFlow has collaborated with organizations worldwide as part of its “Power for All” mission. This initiative aims to ensure access to reliable and timely power to disaster-affected communities across the globe, including rescue agencies, affected hospitals, and shelters, to support rescue and recovery efforts.
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This fund most recently provided aid for communities affected by the recent Los Angeles wildfires, assistance to the Special Forces Charitable Trust (SFCT) in North Carolina following severe hurricanes, and support for non-profits engaged in hurricane preparedness in Florida and the Gulf Coast. Per Jodi Burns, CEO of the Special Forces Charitable Trust:
In the wake of devastating storms in Western North Carolina, reliable power was a critical need for the families we serve. Thanks to EcoFlow’s generous donation of generators, we were able to provide immediate relief, ensuring these families and their communities had access to power when they needed it most. We are so impressed with EcoFlow’s commitment to disaster response through their ‘Power for All’ program. It has made a tangible impact, and we are deeply grateful for their support and partnership in helping these families recover and rebuild.
In 2024, the US experienced 27 weather and climate events, each causing losses exceeding $1 billion, marking the second-highest annual total on record, according to National Centers for Environmental Information. The increasing frequency and severity of natural disasters underscore the critical need for reliable and timely power solutions during emergencies, much like EcoFlow and its members are helping provide through the “Power For All” initiative.
To support new and existing EcoFlow members, the company is celebrating its third annual Member’s Festival throughout April to offer a do-not-miss discount on its products and donate a portion of all sales to the “Power for All” fund to provide rescue power to those in need in the future. Learn how it all works below.
Source: EcoFlow
Save big and give back during the 2025 Member’s Festival
As of April 1st, you can now sign up to become an EcoFlow member to participate in the company’s exclusive 2025 Member Festival.
As a member, you can earn “EcoFlow Power Points” by completing tasks like registration, referrals, and product purchases and tracking your individual efforts toward disaster preparedness and recovery.
Beginning April 4, EcoFlow members will also be able to take advantage of exclusive discounts of up to 65% off select portable power stations, including the DELTA Pro Ultra, DELTA Pro 3, DELTA 2 Max, DELTA 3 Plus, RIVER 3 Plus, and more. However, these sale prices only last through April 25, so you’ll want to move quickly!
Click here to learn more about EcoFlow’s “Power for All” campaign. To register for EcoFlow’s 2025 Member Festival in the US, visit the EcoFlow website. To register as a member in Canada, visit here.
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Tesla is losing another top talent: its long-time head of software, David Lau, has reportedly told co-workers that he is exiting the automaker.
Tesla changed how the entire auto industry looks at software.
Before Tesla, it was an afterthought; user interfaces were rudimentary, and you had to go to a dealership to get a software update on your systems.
When Tesla launched the Model S in 2012, it all changed. Your car would get better through software updates like your phone, the large center display was responsive with a UI that actually made sense and was closer to an iPad experience than a car.
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Tesla also integrated its software into its retail experience, service, and manufacturing.
David Lau deserves a lot of the credit for that.
He joined Tesla in 2012 as a senior manager of firmware engineering and quickly rose through the ranks. By 2014, he was promoted to director of firmware engineering and system integration, and in 2017, he became Vice President of software.
Lau listed the responsibilities of his team on his LinkedIn:
Vehicle Software:
Firmware for the powertrain, traction/stability control, HV electronics, battery management, and body control systems
UI software and underlying Embedded Linux platforms
Navigation and routing
iOS and Android Mobile apps
Distributed Systems:
Server-side software and infrastructure that provides telemetry, diagnostics, over-the-air updates, and configuration/lifecycle management
Data engineering and analytics platforms that power technical and business insights for an increasingly diverse set of customers across the company
Diagnostic tools and fleet management, Manufacturing and Automation:
Automation controls (PLC, robot)
Server-side manufacturing execution systems that power all of Tesla’s production operations
Product Security and Red Team for software, services, and systems across Tesla
Bloomberg reported today that Lau told his team he is leaving Tesla. The report didn’t include reasons for his stepping down.
Electrek’s Take
Twelve years at any company is a great run. At Tesla, it’s heroic. Congrats, David, on a great run. You undoubtedly had a significant impact on Tesla and software advancements in the broader auto industry.
He is another significant loss for Tesla, which has been losing a lot of top talent following a big wave of layoffs around this time last year.
I wonder who will take over. Michael Rizkalla, senior director of software engineering and vehicle firmware, is one of the most senior software engineers after Lau. He has been at Tesla for 7 years, and Tesla likes to promote within rather than hire outsiders.
There are also a lot of senior software execs working on AI at Tesla. Musk has been favoring them lately and he could fold Lau’s responsibilities under them.
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Kia’s electric SUVs are taking over. The EV3 is the best-selling retail EV in the UK this year, giving Kia its strongest sales start since it arrived 34 years ago. And it’s not just in the UK. Kia just had its best first quarter globally since it started selling cars in 1962.
Kia EV3 is the best-selling EV in the UK through March
In March, Kia sold a record nearly 20,000 vehicles in the UK, making it the fourth best-selling brand. It was also the second top-seller of electrified vehicles (EVs, PHEVs, and HEVs), accounting for over 55% of sales.
The EV3 remained the best-selling retail EV in the UK last month. Including the EV6, three-row EV9, and Niro EV, electric vehicles represented 21% of Kia’s UK sales in March.
Kia said the EV3 “started with a bang” in January, darting out as the UK’s most popular EV in retail sales. Through March, Kia’s electric SUV has held on to the crown. With the EV3 rolling out, Kia sold over 7,000 electric cars through March, nearly 50% more than in Q1 2024.
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The EV3 was the best-selling retail EV in the UK in the first quarter and the fourth best-selling EV overall, including commercial vehicles.
Kia EV3 Air 91.48 kWh in Frost Blue (Source: Kia UK)
Starting at £33,005 ($42,500), Kia said it’s the “brand’s most affordable EV yet.” It’s available with two battery packs, 58.3 kWh or 81.48 kWh, good for 430 km (270 miles) and 599 km (375 miles) of WLTP range, respectively.
From left to right: Kia EV6, EV3, and EV9 (Source: Kia UK)
With new EVs on the way, this could be just the start. Kia is launching several new EVs in the UK this year, including the EV4 sedan (and hatchback) and EV5 SUV. It also confirmed that the first PV5 electric vans will be delivered to customers by the end of the year.
Electrek’s Take
Globally, Kia sold a record 772,351 vehicles in the first quarter, its best since it started selling cars in 1962. With the new EV4, the brand’s first electric sedan and hatchback, launching this year, Kia looks to build on its momentum in 2025.
Kia has also made it very clear that it wants to be a global leader in the electric van market with its new Platform Beyond Vehicle (PBV) business, starting with the PV5 later this year.
Earlier today, we learned Kia’s midsize electric SUV, the EV5, is the fourth best-selling EV in Australia through March, outselling every BYD vehicle (at least for now). The EV5 is rolling out to new markets this year, including Canada, the UK, South Korea, and Mexico. However, it will not arrive in the US.
For those in the US, there are still a few Kia EVs to look forward to. Kia is launching the EV4 globally, including in the US, later this year. Although no date has been set, Kia confirmed the EV3 is also coming. It’s expected to arrive in mid-2026.
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