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.
How does a fully charged battery in under 100 seconds sound? China’s CATL, GAC Group, and JD.com revealed a battery-swappable version of the Aion UT that can swap batteries quicker than you can pump gas.
The Aion UT Super can swap EV batteries in 99 seconds
The new battery swap version looks about the same as the current Aion UT sold in China, but it’s equipped with CATL’s Choco-SEB battery packs.
CATL introduced the new battery packs in December that can be swapped for a fully charged one in under 100 seconds, making it just as fast as filling up a gas tank.
The new Aion UT Super draws power from a 54.036 kWh CATL LFP battery, providing a CLTC driving range of 500 km (310 miles). Drivers can swap, charge, or rent batteries at one of CATL’s Choco Battery Swap Stations. It also features a single electric motor with 134 horsepower (100 kW).
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Measuring 4,270 mm in length, 1,850 mm in width, and 1,575 mm in height, with a wheelbase of 2,750 mm, the electric hatch is about the size of the Volkswagen ID.3.
Don’t feel like swapping? The electric hatchback can still recharge from 30% to 80% in 26 minutes, the company said.
Inside, the setup is relatively simple, with a floating infotainment screen at the center and a smaller driver display cluster.
The new Aion UT Super will be sold exclusively on JD.com, also known as the “Chinese Amazon.” GAC opened blind pre-orders on Wednesday ahead of its official launch next week during the 11.11 shopping festival, China’s largest shopping event.
According to CarNewsChina, prices for the swappable Aion UT Super are expected to range from 100,000 yuan ($14,000) to 120,000 yuan ($16,800).
The Aion UT Super just swapped its battery at a CATL Chocolate Battery Swap Station. Time: 88 seconds.#CATLpic.twitter.com/U3K4ecaypX
Although the company promotes a full battery swap in as little as 99 seconds, it’s actually even quicker. A video from ThinkerCar shows the Aion UT Super swapping its battery at a CATL Chocolate Battery Swap Station in just 88 seconds.
The Aion UT Super joins other Chinese EVs, including the Changan Oshan 520, that are rolling out with CATL’s 99-second swappable batteries.
Several major Chinese brands, including GAC, Chery, NIO, FAW, and BAIC, are partnering with CATL to launch vehicles powered by its Choco-SEB batteries.
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In a landmark move for sustainable maritime transport, Swedish firm Candela is bringing its hydrofoiling electric vessel, the Candela P‑12, to the Maldives, promising faster, cleaner, seasickness-free transfers from the airport to the remote atolls.
Reef rescue and comfort for tourists
The Maldives’ atolls face a serious threat from the thousands of twin-outboard speedboats that shuttle tourists and locals across the archipelago.
They’re heavy on fuel, produce large wakes, and are responsible for significant reef damage. These traditional gasoline-powered boats burn around 5 liters (1.3 gallons) of fuel per mile (15 times more than a bus), generate large wakes that erode coral, and emit CO₂ emissions that rank among the country’s worst.
Enter the P-12: By flying 1.5 meters (5 feet) above the water surface on two computer-controlled hydrofoils, it cuts energy consumption by 80% compared to conventional hulls, enabling long-range electric operation. The vessel produces minimal wake and engine noise, drastically reducing the impact on reef ecosystems and marine life – a critical win for one of the world’s most fragile marine environments.
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For vacationers, the change should be dramatic.
The ride inside the P-12 is described as a “magic carpet” experience: an air-conditioned cabin, wi-fi, entertainment screens, refreshment service, stroller and wheelchair access – and thanks to the hydrofoil system and active flight controller, virtually no waves, no slamming hull, and no seasickness.
It’s like flying, but without any turbulence.
Maldives order and deployment
In 2026, a fleet of ten P-12 vessels will begin operating between Malé International Airport and outer-island resorts, managed by operator Ego Shuttle, which has also signed for an additional ten units.
This will be the Maldives’ first electric vessel deployment, and the largest hydrofoil electric fleet in the world, according to the release. The vessels will be assembled, maintained and operated locally, with a logistics hub and green-job training for Maldivian workers.
“Wake and noise impact has been a real problem in many marine sanctuaries around the world. Until now, there have been no real options to electrify waterborne transport, as conventional hulls are simply too inefficient. With the P-12, we finally have a vessel with the range and speed to replace fossil-fuel boats — while minimizing the impact on this unique environment,” says Shabir Walji, CEO of Ego Shuttle.
The Maldives will now join other countries also incorporating the Candela P-12 electric ferry into their own sustainable over-the-water transportation systems, from Thailand to New Zealand, among several others.
Candela was founded just over a decade ago with a mission to design and build faster, more efficient, cleaner boats that outperform fossil-fuel vessels.
The company has become world famous for its signature hydrofoils that lift the hull out of the water, dramatically reducing drag and thereby energy use. I’ve spent some helm time on both the C-7 and C-8, the pair of electric hydrofoil speedboats produced by Candela ahead of their expansion into commercial ferries like the P-12. And as someone who has operated both models, I can attest to how smooth the ride is and how impressive it truly feels to soar over the water.
Candela’s P-12 vessels have already entered service in Stockholm. One of its early pilots, a vessel called Nova, reportedly cut a 15 km route commuting time to 30 minutes, while using 84% less energy per passenger-kilometre compared to the diesel ferry it replaced.
Electrek’s Take
This is a serious step forward – both for island-nation sustainability and for electrifying maritime transport. The Maldives face existential threats from climate change and ecosystem degradation, so reducing boat noise, wakes, and emissions is both environmentally urgent and commercially smart (since tourism depends on those healthy reefs).
In spite of the other major social challenges the country still faces – from limited freedoms for women to broader human rights concerns – it’s encouraging to see real progress on the environmental front. Meaningful climate action doesn’t erase those issues, but it does show that even small nations can take bold technological steps toward a cleaner future.
All told: This looks like a win-win for guests, operators and the environment. I’ll be closely watching how the service performs in 2026 – especially how much of a wake/reef benefit is achieved and how the guest experience compares to typical speedboat transfers. And if the Maldivian operators need someone to come report on the new fleet directly from a white, sandy beach, I’ll see if I can clear my schedule.
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Tesla has quietly expanded its new MultiPass feature to more regions across Europe, allowing owners to charge at third-party stations directly through their Tesla account — no separate app, card, or registration required.
The feature, which first launched in the Netherlands earlier this year, is now rolling out to additional countries, including Germany and France, according to Tesla’s own support page. The update builds on Tesla’s push to make charging as frictionless as possible — not just at Superchargers, but across an entire network of compatible public chargers.
What is Tesla MultiPass?
Tesla describes MultiPass as a “seamless charging option” that lets drivers find and charge at third-party charging stations using their existing Tesla Account. By partnering with a network aggregator, Tesla now connects to over 1,000 charging networks and thousands of stations across Europe.
In practice, MultiPass aims to make the charging experience at third-party stations as close to a Tesla Supercharger as possible — you can simply tap your Tesla key card or select the stall in your Tesla app at a supported charger, and the cost of the session is automatically billed to your Tesla account. The same payment method used for Supercharging applies, and sessions appear right in your Tesla app’s charging history, unified with your Supercharger activity.
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Tesla’s goal is to reduce the number of sign-ups and third-party accounts you need to charge outside of Tesla’s own network. MultiPass turns the Tesla key card into a universal charging credential.
Tesla owners simply need to activate MultiPass through the Tesla app:
Open the Tesla app and check “Messages” for the MultiPass invitation
Tap Learn More → Next
Follow on-screen steps to activate your key card via NFC
Once activated, you can start charging sessions in two ways:
Tap your key card directly on the supported third-party charger
Or, start the session in the Tesla app, selecting the stall remotely
Your session appears instantly in the app, complete with cost and time details, just like any Tesla Supercharger session.
Electrek’s Take
Tesla already operates the world’s most reliable and extensive DC fast-charging network. Supercharger is probably the best thing Tesla has ever done.
But outside of the Supercharger footprint, especially in Europe’s dense urban areas, third-party chargers fill critical gaps.
MultiPass eliminates one of the last friction points for Tesla drivers to use these third-party charging stations.
It looks like after a short testing phase in the Netherlands, Tesla is now ready to expand access throughout Europe.
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