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Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024. 

Angela Weiss | AFP | 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

Wall Street rally 
Stocks rose after Federal Reserve Chair Jerome Powell said the “time has come” to cut interest rates. The Dow Jones Industrial Average jumped 462 points, while the Nasdaq Composite and the S&P 500 climbed 1.47% and 1.15%, respectively. For the week, the Dow gained 1.3%, the Nasdaq 1.4% and the S&P 500 rose 1.45%. Meanwhile, the yield on the 10-year Treasury slipped, while U.S. oil prices rose more than 2% to move back above $74 a barrel. 

‘The time has come’
Following Powell’s indication of an impending interest rate cut, market attention has pivoted to the timing and extent of the reduction. Traders currently anticipate a quarter-point cut in September, with rising expectations of a more aggressive half-point reduction. The likelihood of a larger cut is gaining traction, particularly if the August jobs report reflects the weakness seen in July’s figures. As the Fed’s mid-September meeting approaches, CNBC’s Jeff Cox cast an eye over the key economic indicators that could influence the final decision

Returning empty
Boeing‘s Starliner capsule will return from the International Space Station without astronauts. NASA astronauts Butch Wilmore and Suni Williams will instead return via SpaceX’s Dragon spacecraft, extending their stay on the ISS by about six months. The decision follows issues with Starliner’s propulsion system during its crew flight test. “We want to further understand the root causes and understand the design improvements so that the Boeing Starliner will serve as an important part of our assured crew access to the ISS,” NASA Administrator Bill Nelson said. The setback could threaten Boeing’s involvement with NASA’s commercial crew program, which has already absorbed losses of more than $1.5 billion.

Activist defense 
Intel is working with Morgan Stanley and other advisors to defend against potential activist investors as it struggles to compete with rivals like Nvidia. Intel is cutting 15,000 jobs as part of a $10 billion cost-reduction program as CEO Pat Gelsinger attempts to turn the chip maker around. Morgan Stanley has previously worked with the Intel, including spinning off Mobileye in 2022. The company’s difficulties stem from missing key market trends, including the smartphone boom and the current AI surge.

Export control list
China strongly opposes the U.S. decision to add 42 Chinese firms to its export control list due to alleged ties to the Russian military. The United States also added 63 Russian companies and 18 from other countries for sending U.S. electronics to Russian military-linked entities that produced thousands of Shahed-136 drones for use against Ukraine. China’s Ministry of Commerce said the decision disrupts international trade, pledging that Beijing would protect the rights of Chinese companies.

[PRO] Trading Fed rate cuts
As the Fed prepares for interest rate cuts, Evercore ISI highlights a few regional banks poised to outperform. These banks are actively reducing asset sensitivity through strategic balance sheet adjustments, positioning them for success in a lower-rate environment.

The bottom line

“This is going to be a drop-the-mic moment” for Nvidia, Wedbush’s Dan Ives told CNBC’s Worldwide Exchange. “Powell, Jackson Hole — so important — but the market, what it’s going to do for the rest of the year and I could argue 2025, it starts with this Nvidia earnings.” 

On Wednesday, Nvidia — the undisputed leader in AI — will deliver its second-quarter earnings after the closing bell. The stock has soared 161% this year, despite plunging to a low of $90.69 on Aug.  5, as markets capitulated on economic concerns.

Wall Street remains bullish on Nvidia. As CNBC’s Jesse Pound reports, the options market is betting that Nvidia will get a boost from its earnings report. Enthusiasm for the stock appears undiminished, even in light of the delay for its Blackwell chip — a project CEO Jensen Huang said cost the company $10 billion to develop.

“A delay of two to three months, I view that as a sort of an asterisk. This is not moving the needle in terms of a demand perspective,” Ives said. 

As footnotes go, while Nvidia continues to dominate the AI chip market, its competitor Intel has fallen significantly behind. Not only did Intel miss the smartphone revolution, but it’s also lagging in the AI race. Nvidia has overtaken Intel as the largest chipmaker by revenue, with Intel now roughly 35 times smaller in market capitalization. Facing these challenges, Intel has enlisted the help of Morgan Stanley and other advisors to fend off potential activist investors.

Wall Street ended the week on a strong note, reassured by Powell’s signal for imminent rate cuts, though the timing and scale remain contingent on upcoming economic data.

Former PIMCO chief economist Paul McCulley expects a series of 25-basis-point reductions at the next several FOMC meetings. McCulley also believes a more aggressive 50-basis-point cut could be implemented if August’s jobs report, due on Sept. 6, shows signs of weakeness.

Powell “drew a line in that we don’t want to see further deceleration in the labor market — we’re there,” McCulley said on CNBC’s “Squawk on the Street.” “I don’t think that’s the base case yet, but clearly he’s opened the door for front-loading of the easing process.”

Powell’s dovish tone also sends a strong signal to the market, according to David Russell, global head of market strategy at TradeStation. “This keeps a tailwind at the market’s back into year-end, making it harder to expect a retest of this month’s lows,” he said.

— CNBC’s Sarah Min, Rohan Goswami, Lisa Kailai Han, Michele Luhn, Michael Sheetz, Jesse Pound, Jeff Cox, Alex Harring, Yun Li, Pia Singh and Spencer Kimball contributed to this report.

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This hilarious-looking electric motorcycle just launched after a seven year tease

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This hilarious-looking electric motorcycle just launched after a seven year tease

Back in 2018, when most electric motorcycle startups were showing off what looked like clunky science experiments or budget-minded e-scooters, a little company out of Stuttgart quietly unveiled one of the wildest-looking two-wheelers I’d ever seen. As one of the first motorcycle journalists to cover Sol Motors and their outlandish debut seven years ago, I’ve been keeping tabs on them ever since. And now I am excited to share that the Sol Pocket Rocket is finally preparing to launch in full production form. Yes, really.

The German company is now taking pre-orders for its uniquely tubular electric motorcycle that somehow looks like a mashup between a torpedo, an irrigation pipe, and a Star Wars prop. And yet, despite its cartoonish silhouette, it might just be one of the coolest ultra-urban e-motos headed for the streets.

The Sol Pocket Rocket comes in two versions: the standard model and the more powerful Pocket Rocket S. The latter packs an 8.5 kW (roughly 11.4 hp) electric motor that propels the bike to a top speed of 85 km/h (53 mph), while the standard version tops out at 45 km/h (28 mph), putting it in moped territory in many markets.

That makes it a perfect fit for cities, especially in Europe where light electric mopeds and motorcycles are gaining traction among young riders who want something fast, fun, and emissions-free, but without the size, weight, or cost of a traditional motorcycle. The bike’s 2.5 kWh battery may not sound like much, but the company says it offers up to 108 km (67 miles) of range for the lower speed version or 68 km (42 miles) of range for the higher speed version, which is generally more than enough for most urban commutes. The battery is also removable, allowing for convenient charging inside your apartment or office. That can be a neat trick for riders who charge at work, essentially doubling the maximum range they can commute.

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And while we’re on the topic of design – yes, it’s unusual. The Pocket Rocket’s oversized aluminum top tube houses the battery and electronics, while a minimalist seat juts out from the back like a café racer’s rear hump. There’s no bodywork to speak of, giving it a raw and industrial aesthetic that’s either futuristic or ridiculous, depending on the lighting and your mood. But I’ve got to admit, I kind of love it.

The frame, wheels, and swingarm are all nicely machined, giving the whole thing a premium feel, or at least as premium as a potato gun on wheels can look. It’s like if Bauhaus made a Hot Wheels bike that could run on electrons.

Sol Motors is positioning the Pocket Rocket not just as a stylish e-motorcycle, but as a viable alternative to cars for city dwellers who want to skip traffic and parking headaches. It’s light, fast enough for urban streets, and small enough to squeeze into even the tiniest bike parking spot.

Pre-orders are now open and pricing starts at €5,990 for the standard model and €6,980 for the S version. That’s certainly not cheap, but not outrageous in today’s market for well-designed, European-made electric two-wheelers.

Electrek’s Take

I’ve covered a lot of oddball EVs over the years, but the Sol Pocket Rocket has a special place in my heart. There’s something honest about a company that doubles down on such a bold design and actually makes it work. Sure, it looks like a giant spool holder from the wrong angle, but it also looks like a lot of fun from the right angle! And the fact that it’s fast, fun, and actually headed to production means it offers three things that are far from a guarantee in today’s market.

It may have taken the scenic route and had a false start or two, but it looks like the company is finally ready to put that rubber on the road for good this time.

After nearly seven years of anticipation, I’m thrilled to see this bizarre beauty finally hitting the road. And hey, if anyone wants to send one over for a review, my driveway’s been waiting just as long.

They even have this cool charging stand for topping up the battery in your apartment

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The 2026 Chevy Blazer EV lineup looks a bit different, but prices still start at under $45K

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The 2026 Chevy Blazer EV lineup looks a bit different, but prices still start at under K

Chevy is introducing an updated lineup for the 2026 Blazer EV, including a few slight modifications. Despite the changes, prices will still start at under $45,000.

2026 Chevy Blazer EV prices by trim

GM’s Chevrolet is currently the fastest-growing EV brand in the US. Through May, Chevy sold over 37,000 EVs, surpassing Ford, which sold about 34,000.

Although the Equinox EV stole the spotlight, becoming the third top-selling EV behind Tesla’s Model Y and Model 3, Chevy’s electric Blazer has quiety been driving growth. In April, the Chevy Blazer EV was the sixth-best-selling EV.

With “the Equinnox and Blazer right in the heart of the market, they are really benefitting from that,” Tom Libby, an analyst at S&P Global Mobility, explained.

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With the 2026 model years arriving with a few updates, Chevy looks to continue closing the gap with Tesla. Earlier this month, the 2026 Chevy Silverado EV configurator went live with base prices about $10,000 cheaper than the outgoing model. Now, it looks like the electric Blazer will be next.

2026-Chevy-Blazer-EV
2025 Chevy Blazer EV SS (Source: Chevrolet)

New order guide data show the 2026 Chevy Blazer EV LT FWD will still start at $44,600, not including the destination fee. The 2026 model year will be available in FWD, AWD, and performance AWD configurations. However, Chevy is dropping the RWD option.

Although the base LT model is priced the same, the 2026 Chevy Blazer RS AWD is $500 more than last year’s model, starting at $50,400.

-2026-Chevy-Blazer-EV
Chevy Blazer EV RS (Source: GM)

The 615 horsepower Blazer EV SS, the quickest SS Chevy vehicle to date, will still start at $60,600. Like the 2025MY, GM’s Super Cruise is standard on the SS and available for other trims. It costs $3,255 this year, the same as it did in 2025.

Other upgrades for the new model include a new Polar White Tricoat paint option and a standard dual-level charging cord, but it still lacks a NACS port.

2026-Chevy-Blazer-EV-prices
Chevy Blazer EV SS interior (Source: GM)

A Chevy spokesperson confirmed to Car and Driver last month that “To simplify the product lineup while still offering the most popular options for consumers, RWD will not be available beginning with the 2026 model year.”

Up next will be the 2026 Chevy Equinox EV, or “America’s most affordable 315+ mile range EV,” as GM calls it. The base 2025 LT model starts at $34,995. Chevy keeping entry-level Blazer prices the same could be a good sign for the Equinox.

2026 Chevy Blazer EV trim Starting MSRP* Range
(*2025MY EPA-estimated)
LT FWD   $44,600 312 miles
RS FWD   $50,400  312 miles 
SS AWD $60,600 303 miles
2026 Chevy Blazer EV prices by trim (*Does not include destination fee)

With the federal EV tax credit set to expire at the end of September, Chevy is offering some serious savings opportunities. Starting at just $289 per month, the 2025 Equinox EV is hard to pass up. GM is also offering 0% APR across all 2025 Equinox EV, Blazer EV, and Silverado EV models.

Ready to test one out for yourself? You can use our links below to find deals on Chevy EV models at a dealer near you.

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Tesla’s penis-shaped Robotaxi expansion illustrates how unserious the business is

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Tesla's penis-shaped Robotaxi expansion illustrates how unserious the business is

Tesla has expanded the service area of its Robotaxi service in Austin, and it did so to draw a penis-shaped service map, seemingly for no other reason than to satisfy the juvenile humor of its CEO, but what it really achieved is to illustrate how unserious Tesla’s Robotaxi business is compared to other efforts.

Last month, Tesla launched its Robotaxi service in Austin, Texas, and as expected, the service was mostly for show and to give CEO Elon Musk a win after years of failed predictions regarding Tesla’s self-driving efforts.

The service was launched only for a small group of Tesla stock promoters on X, and it required a Tesla employee sitting in the front seat with a finger on a kill switch at all times.

In other words, it’s basically Tesla’s Supervised Full Self-Driving (FSD) in consumer vehicles, but with the supervisor moved from the driver’s seat to the front passenger seat.

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Tesla also launched into a small area of South Austin, but last week, Musk said that the company would expand the service area by the weekend.

Late on Sunday, Tesla did update the service area, and it now looks like this:

There’s no practical reason to cover this specific section of Austin. The update appears to be solely to satisfy Musk’s famously juvenile sense of humor, which includes fascinations with the numbers “69” and “420”.

Tesla has also been offering rides in Robotaxi (invite-only) for $4.20 a ride.

In practice, what this joke does is illustrate just how unserious Tesla’s Robotaxi effort is in comparison to other autonomous ride-hailing programs.

Waymo already operates a larger area of Austin, and it does so without any supervisor inside the vehicle. It also operates in San Francisco, the Bay Area, Los Angeles, and Phoenix:

Tesla shareholders are holding on to the hope that Tesla will be able to scale faster, but Waymo has even launched in Atlanta since Tesla launched its limited service in Austin, and they are preparing to launch in Philadelphia and New York.

Meanwhile, Tesla still operates with supervisors inside its vehicles – a step that Waymo completed years ago.

Electrek’s Take

Look, I love a joke as much as the next guy, but when the whole service is a joke, maybe don’t draw a penis with the service map.

In China, I rode in Baidu’s Apollo Go, and it simply works without anyone in the car, and it is in operation in half a dozen cities.

It’s cool to see Tesla making progress here, but what’s less cool is the moving of the goalpost that leads to people forgetting that Tesla has promised unsupervised self-driving in all vehicles built since 2016.

Meanwhile, its progress has yet to outpace competition and CEO Elon Musk is out there claiming Tesla is the leader in self-driving with no close second.

It’s a level of delusion that you don’t want to see in someone deploying “self-driving” 5,000-lb machines moving at high speeds on public roads.

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