An Exxon Mobil gas station in Las Vegas on July 25, 2023.
Bridgett Bennett | Bloomberg | Getty Images
This report is from today’s CNBC Daily Open, our new, 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
Prices mostly in line The U.S. consumer price index climbed 0.1% in November and rose by 3.1% from a year earlier. The monthly increase is higher than expected, as economists had predicted prices to remain unchanged. The yearly rate, however, is still lower than the 3.2% in October, signaling a steady downward trajectory. A 2.3% drop in energy prices helped keep inflation in check.
Glut of pigs China’s facing the risk of deflation — and a 31.8% year-on-year plunge in pork prices is adding to the country’s woes. Food makes up an estimated one-fifth of China’s consumer price index basket, with pork being a large component within the food category.
OpenAI’s revenue: $44,486 OpenAI may be valued by private investors at $86 billion, but its revenue from its nonprofit operation in 2022 was just $44,485, according to a filing with the U.S. Internal Revenue Service. OpenAI is a nonprofit — but the company launched a “capped-profit” firm, OpenAI Global, which is responsible for ChatGPT and drew billions in investment from Microsoft.
[PRO] ‘Buy the dip’ Investors have been cautious on Asian markets — but Morgan Stanley’s advising its clients that the market is transitioning to a new cycle, which would favor quality assets from those countries. “Our suggested strategy is to buy the dip on Quality Growth stocks in [Asia Pacific region excluding Japan, and EM],” the bank’s strategists wrote.
The bottom line
The U.S. consumer price index report for November came in a smidge higher than expected, compared with the previous month. However, the annual increase, as well as the monthly and yearly core inflation rates came in exactly as expected. That’s both good and bad.
The positives: Investors don’t like surprises. They could swallow the 0.1 percentage point rise in the monthly inflation rate because the CPI, overall, “was very consistent with expectations,” as Adam Crisafulli, founder and president of Vital Knowledge, put it. And November’s annual rate is slightly lower than the previous month’s, showing that disinflation is, indeed, in progress.
On to the negatives. Although the CPI was “somewhat in line,” said Liz Ann Sonders, chief investment strategist at Charles Schwab, the month-over-month figure was “not as good as some might have hoped.” Indeed, that the number was so “consistent with expectations” means it “changes little,” added Crisafulli. Even U.S. President Joe Biden acknowledged that “Despite this progress, Americans still find too many things unaffordable.”
But investors seemed to take the good where they could, pushing stocks higher. The S&P 500 rose 0.46%, the Dow Jones Industrial Average climbed 0.48% and the Nasdaq Composite gained 0.7% Tuesday. All three indexes touched new intraday 52-week highs.
The rally could be spurred by falling oil prices, which means upcoming CPI reports are likely to show faster disinflation. U.S. crude oil dropped more than 3% yesterday, and gasoline prices in the U.S. are experiencing their first year-over-year decline since 2020, according to Citi.
That’s good news for consumers and central bankers worried about inflation, but a blow to oil companies — Exxon Mobil dropped to a 52-week low on flagging oil prices.
Attention now turns to the Federal Reserve’s last rate-setting meeting for the year. While market consensus is for the central bank to leave interest rates untouched, investors will comb through Fed Chair Jerome Powell’s press conference and a new dot plot — a chart that shows each Fed member’s rate expectations — for hints on when the first cut might come.
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 Tesla allowing texting and driving on FSD v14, Trump killing CAFE’s MPG standard, an Aptera update, and more.
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Kia’s most affordable electric SUV will be here in just over a month. Ahead of its debut, the EV2 was spotted with light camo, offering our best look yet.
Kia EV2 looks more like an SUV with less camo
Just days after Kia confirmed the EV2 will debut at the Brussels Motor Show on January 9, 2026, the small electric SUV was spotted in Europe with barely any camo.
The EV2 is a fully electric B-segment SUV set to be Kia’s new entry-level EV. It will sit below the EV3, which is already the UK’s most popular retail electric vehicle and among the top-sellers in Europe.
“With the EV2, we reaffirm our commitment to make electric mobility truly accessible to a broader audience,” Kia Europe president and CEO, Marc Hedrich, said earlier this month.
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Despite its compact size, the EV2 looks and feels much bigger in person. It has a similar high-riding, blocky design as Kia’s latest electric SUVs, such as the EV5 and three-row EV9.
Kia EV2 teaser (Source: Kia)
In the teaser images Kia posted a few days ago, the EV2 was shown under a drape with a design that looked nearly identical to the EV2 Concept from earlier this year.
Now, we can finally confirm it. The Kia EV2 was recently spotted in Europe in light camo, rocking a tall, SUV-like stance. The latest image from KindelAuto gives us a solid look at its profile, which still resembles a mini EV5 or EV9.
Kia will begin EV2 production alongside the EV4 hatch at its Zilina, Slovakia, plant shortly after its debut at the Brussels Motor Show next month, ramping up output throughout 2026.
Although Kia has yet to reveal specifics, the EV2 is expected to be about 4,000 mm (157″) long, or slightly smaller than the EV3 at 4,300 mm (169.3″). It will be closer in size to the Hyundai Inster EV.
The Kia Concept EV2 at IAA Mobility 2025 in Munich (Source: Kia)
Prices are expected to start at around €30,000 ($35,000) in Europe, given that the EV3 starts at about €36,000 ($42,000).
The compact electric SUV is expected to ride on Hyundai’s E-GMP platform, with similar battery pack options as the EV3. The EV3 is available with 58.3 kWh and 81.4 kWh battery options, delivering a WLTP range of 410 km (255 miles) and 560 km (348 miles), respectively.
The EV2 will debut at the Brussels Motor Show on January 9, 2026. Kia will hold a press conference at 10:40 am CET to introduce the new entry-level EV. Check back for updates leading up to the event.
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Cross Segway e-scooters and e-bikes off gift lists with hundreds of savings for Christmas Holiday Sale – models start from $150
It didn’t take much time at all for Segway to change lanes from its Black Friday event into the now live Christmas Holiday Sale that saves you hundreds on the brand’s EVs, including the returning pricing on the ZT3 Pro All-Terrain Electric Scooter at $849.99 shipped, which matches the pricing over at Amazon. While it may carry a $1,300 MSRP from Segway, you’ll more often find it down around $1,000 instead, especially at other marketplaces like Amazon, with this same low rate having previously appeared during July and October’s Prime Day events, as well as the most recent Black Friday sale. Now, you’re getting a longer period of getting it at this all-time low price, complete with $150 off the going rate (and $450 off the MSRP). Head below to learn more about it and the other models included in the Segway’s Christmas Holiday Sale.
Segway’s ZT3 Pro electric scooter is a solid all-terrain option that can certainly go the distance, as many riders are learning while riding around on them through the streets of NYC, with the full suspension and additional 6 inches of deck clearance from the ground serving urban riders well on more pothole-lined streets. What’s more, in a city so massive and populated, having the included Apple Find My and auto-proximity locking/unlocking functionality definitely adds peace of mind should you ever be leaving it unattended for a set amount of time.
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The whole system – which includes a 1,600W brushless motor as its heart – comes powered by a 597Wh battery, providing up to 43.5 miles of commuting assistance at speeds as high as 24.9 MPH. Another nice feature is the regaining of 6.2 miles for just 30 minutes of charging, allowing you to get moving faster to tackle last-minute plans. Along with everything already mentioned, there’s also 11-inch tubeless tires, a Segride stability enhancement system, a traction control system, six inches of extra clearance from the ground, and more.
Segway’s Christmas Holiday Sale gifts ‘made to wow’
Segway’s commuting Christmas Holiday Sale gifts under $750
EcoFlow Cyber Week flash sale cuts up to 63% off expanded DELTA 2 Max bundle + batteries at new lows from $329 (ends tonight)
As part of EcoFlow’s ongoing Cyber Week Sale, the first of this new extended event’s flash sales has officially launched with up to 63% savings on three expansion battery bundles and alongside the DELTA 2 Max Portable Power Station bundled with a smart extra (expansion) battery for $1,369 shipped. This flash deal lasting through tomorrow night (Friday, December 5) beats out its Amazon pricing by $130 and its direct Cyber Week pricing by $230 (which does offer a $99 waterproof bag for FREE). While this bundle carries a $3,298 MSRP direct from the brand, you’re more likely to find it down around $2,149 at full price elsewhere, with it having kept between $1,699 and $1,499 since late September, with all the sales. Discounts have previously gone as low as $1,424, but these flash savings are cutting a larger than ever $780 off the going rate (and $1,929 off the MSRP) and landing it at a new all-time low price.
Extended Ride1Up Cyber Monday sale continues up to $600 savings on e-bikes and extra batteries from $195
Ride1Up has an ongoing Cyber Monday Sale with up to $600 savings on e-bikes and extra batteries, which doesn’t provide any end dates, but is likely following the trend we’ve seen from several other brands and continuing through the weekend. Among the bunch, one model that is getting more and more attention from riders is the Revv1 DRT Off-Road e-bike that is down at $2,295 shipped. Normally running at $2,595 without discounts, we mostly saw sales bring the cost down to $2,495 or $2,395 over 2025, with more recent events seeing returns to the $2,295 low. That low price circled back around the track for Black Friday and Cyber Monday, with it holding strong for an unknown time longer at the best price tracked, courtesy of the $300 markdown.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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