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Pedestrians holding Chinese flags outside a Chanel SA store on Nanjing East Road in Shanghai, China, on Wednesday, Oct. 2, 2024. 

Qilai Shen | Bloomberg | 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

Geopolitical uncertainty  
Major U.S. indexes all closed slightly
above the flatline on Wednesday. Oil prices continued rising, helping energy stocks outperform. Nike fell 6.8% and Tesla lost 3.5%. Europe’s regional Stoxx 600 inched up 0.05%. Defense stocks like Saab and Thales rose in response to the escalating conflict in the Middle East.  

OpenAI’s $157 billion valuation 
OpenAI has raised $6.6 billion in its latest funding round, putting it at a valuation of $157 billion. The round was led by Thrive Capital – which planned to invest $1 billion – and included participation from Microsoft, Nvidia and Softbank, said a person with knowledge of the matter.  

Tesla’s deliveries missed expectations 
Tesla stocks fell 3.5% after it reported deliveries that missed expectations. In the third quarter of 2024, Tesla delivered 462,890 vehicles, slightly below the 463,310 estimate compiled by FactSet StreetAccount. Tesla doesn’t report sales numbers for specific models or regions, so deliveries are the closest approximation to them. 

More-than-expected private jobs added 
The U.S. private sector added 143,000 jobs in September, according to a report by payrolls processing firm ADP. That’s more than the 128,000 predicted by economists polled by Dow Jones and higher than August’s upwardly revised figure of 103,000. It’s a sign that the labor market isn’t as flabby as some had feared. 

[PRO] October’s volatility has begun 
The S&P 500 moves an average of more than 1% in either direction each day in October, according to CNBC Pro analysis, based on FactSet data going back to 1950. And October is already living up to that reputation, writes CNBC Pro’s Fred Imbert. Here’s how one Wall Street analyst is preparing for the historically choppy month.

The bottom line

The nature of today’s globalized world means that the manufacturing process of one smartphone may take it to more places around the world than I will ever be. 

It may begin with designing a blueprint in the U.S., sourcing minerals from China, manufacturing semiconductors in Taiwan, assembling the product in India and working with the European Union to meet standards. 

But supply lines are so intricately connected that the moment one link in the chain snaps, the whole process can be interrupted. 

That’s why the recent tension in the Middle East – already simmering for a year, now bubbling slightly more furiously – has weighed on investor sentiment across the world. The conflict’s effects are magnified because the region is the epicenter of oil production, and oil is, well, literally the fuel for the global economy.  

Furthermore, producing oil is not like manufacturing a smartphone, in which a company can shift assembly to another country. Either there is or isn’t oil in the land. Oil suppliers are bound to where they are. 

You’d expect that markets would have been shaken by that threat to the global economy. But all major U.S. indexes managed to close just a tad above the flatline. The S&P 500 was mostly unchanged, the Dow Jones Industrial Average eked out a 0.09% gain and the Nasdaq Composite ticked up 0.08%. 

Headwinds blowing from Middle East might have been tempered by optimism in China.  

Lifted by Beijing’s recent announcement of economic stimulus, Chinese stocks have been on a tear. That’s caused U.S. exchange-traded funds that track Chinese stocks to rally, helping to keep the U.S. market afloat amid worries over the escalating Middle East conflict. 

Indeed, U.S. stocks tend to benefit whenever the Chinese government unleashes economic stimulus and credit expansion, according to Ryan Grabinski, strategist at Strategas Securities. 

Here’s the flipside of globalization: Negative developments in one part of the world may weigh down others, but positive ones will radiate optimism beyond their origin. 

– CNBC’s Hakyung Kim, Yun Li, Alex Harring and Samantha Subin contributed to this story.   

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Oil prices jump more than 3%, adding to last week’s surge, as Israel strikes Iran energy facilities

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Oil prices jump more than 3%, adding to last week's surge, as Israel strikes Iran energy facilities

Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.

Getty Images | Getty Images News | Getty Images

Crude oil futures jumped more than 3% Sunday after Israel struck two natural gas facilities in Iran, raising fears that the war will expand to energy infrastructure and disrupt supplies in the region.

U.S. crude oil rose $2.72, or 3.7%, to $75.67 per barrel. Global benchmark Brent was up $3.67, or 4.94%, at $77.90 per barrel.

Israeli unmanned aerial vehicles struck the South Pars gas field in southern Iran on Saturday, according to Iranian state media reports. The strikes hit two natural gas processing facilities, according to state media.

It is unclear how much damage was done to the facilities. South Pars is one of the largest natural gas fields in the world. Israel also hit a major oil depot near Tehran, sources told The Jerusalem Post.

Iranian missiles, meanwhile, damaged a major oil refinery in Haifa, according to The Times of Israel.

Oil prices closed more than 7% higher Friday, after Israel launched a wave of airstrikes against Iran’s nuclear and ballistic missile programs as well as its senior military leadership.

It was the biggest single-day move for the oil market since March 2022 after Russia launched its full-scale invasion of Ukraine. U.S. crude oil jumped 13% in total last week.

The war has entered its third day with little sign that Israel or Iran will back down, as they exchanged barrages of missile fire throughout the weekend.

Iran is considering shutting down the Strait of Hormuz, a senior commander said on Saturday. About one-fifth of the world’s oil is transported through the strait on its way to global markets, according to Goldman Sachs. A closure of the strait could push oil prices above $100 per barrel, according to Goldman.

However, some analysts are skeptical Iran has the capability to close the strait.

“I’ve heard assessments that it would be very difficult for the Iranians to close the Strait of Hormuz, given the presence of the U.S Fifth Fleet in Bahrain,” Helima Croft, global head of commodity strategy at RBC Capital Markets, told CNBC’s “Squawk Box” on Friday.

“But they could target tankers there, they could mine the straits,” Croft said.

Catch up on the latest energy news from CNBC Pro:

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Next Generation Kenworth electric semi truck now available with Bendix ADAS

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Next Generation Kenworth electric semi truck now available with Bendix ADAS

Kenworth has announced the addition of Bendix’ Fusion advanced driver assist system (ADAS) to its line of options on the T680 line of Class 8 commercial semi trucks – a lineup that includes the Next Generation T680E battery electric semi truck.

One of the many new trucks revealed at the 2025 ACT Expo in Anaheim, California earlier this year, the Next Generation Kenworth T680E featured the latest advancements in battery-electric technology, an enhanced exterior design, and a suite of new, in-cab technology that extends to the addition of three Bendix Fusion version: ADAS, ADAS PRO, and ADAS PREMIER.

All three of the announced ADAS packages offer updated Adaptive Cruise Control (ACC) with ACC Stop and Auto Go™, a new Pedestrian Autonomous Emergency Braking (PAEB) feature, and a new High Beam Assist feature to reduce the likelihood of blinding oncoming drivers supported by the addition of a new forward-looking camera.

Those updates are in addition to the ADAS units Autonomous Emergency Braking (AEB), Multi-Lane Autonomous Emergency Braking, Highway Departure Braking (HDB), and Stationary Vehicle Braking (SVB), Lane Departure Warning, and Bendix® Blindspotter® Side Object Detection already available on previous versions of the ADAS-equipped Kenworth.

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Kenworth migital mirrors


Kenworth DigitalVision Mirrors; via Bendix.

Now that we’ve got that acronym-loaded word-salad out of the way, we can get to the point: the newest generation of electric trucks is easier and safer to drive – and not just safer for the truck’s operators, but for the people who share the roads with them, too.

Kenworth T680E electric semi


Next Generation T680E; via PACCAR Kenworth.

The Next-Generation T680E is available with up to 605 peak hp and 1,850 lb-ft of torque from a PACCAR Integrated ePowertrain fed from a 500 kWh li-ion battery pack good for more than 200 miles of loaded range. The updated Class 8 BEV is rated up to 82,000 lb. gross vehicle weight ratings (GVWR), and can get that load back up to speed quickly with a 350 kW peak charge rate that means the T680E can charge up to 90% in just two hours.

That system isn’t just more efficient than the first generation truck, it’s also more serviceable than it was before.

“This move to a fully integrated and ground-up PACCAR design means we were able to design for enhanced serviceability,” explains Joe Adams, Kenworth’s chief engineer. “Providing easier access to the Master Service Disconnects for improved safety and increased uptime and allowing the use of the DAVIE service tool for troubleshooting and diagnostics.”

The Next Generation Kenworth T680E electric semi truck is designed for short and regional-haul, LTL, and drayage operations. It’s available as a day cab as either a tractor or straight truck in a 6×4 axle configuration.

SOURCE | IMAGES: Kenworth; via Kenworth.


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Dealers are slashing prices on 2025 Kia Niro EV, nearly 25% off!

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Dealers are slashing prices on 2025 Kia Niro EV, nearly 25% off!

Just like it says on the tin – retailers are advertising killer deals on the fun-to-drive Kia Niro EV, with one midwest auto dealer reporting more than $10,000 off the sticker price of the Niro EV Wind. That’s nearly 25% off the top line price!

SKIP THE STORYget straight to the deals.

The Kia Niro EV gets overshadowed by its objectively excellent EV6 and EV9 stablemates – both of which are currently available with substantial lease cash and 0% APR financing, in fact – but that doesn’t mean it’s not an excellent little electric runabout in its own right.

The last time I had a Niro EV tester, my kids loved it, I liked that it was quicker and more tossable than I expected it to be, and my wife liked the fact that “it doesn’t look electric. It looks normal.” And, with well over 200 miles of real world range (EPA-rated range is 253 miles), it was more than up to the task of commuting around Chicago and making the trip up to the Great Wolf Lodge in Gurnee and back without even needing to look for a charger.

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It’s not the primary family hauler I’d choose – but as a second car? As a primary car for a slightly smaller family (1-2 kids, instead of 3-4)? The Kia Niro EV Wind, with a $42,470 MSRP, seems like a solid, “can’t go wrong” sort of choice. You know?

You won’t even have to pay that much, though. Raymond Kia in Antioch, Illinois is advertising a $42,470 Niro EV for $32,431 (that’s $10,039, or about 24% off the MSRP), and several others are advertising prices in the $33,000 range.

And, while we’re at it:


SOURCE | IMAGES: CarsDirect, Edmunds, Raymond Kia.


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