Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. Stocks dropped Tuesday after the S & P 500 started the week with a record-high close. Club chip stocks Nvidia and Advanced Micro Devices declined early on a Bloomberg report that the White House could cap exports of their AI chips to countries in the Persian Gulf. We bought more shares of AMD on the dip on Tuesday morning as first promised last week. “This is a very cheap stock versus Nvidia” Jim Cramer said. If you didn’t own these, “this may be your chance,” he added. After the Morning Meeting, disappointing results from a major semiconductor equipment maker piled more pressure on the group. Nvidia closed Monday at a record high. 2. Oil prices were under pressure on reports that Israel won’t target Iran’s oil and nuclear facilities in retaliation for the Oct. 1 missile attack. U.S. benchmark West Texas Intermediate crude fell 5% to around $70 per barrel “We never bought into the idea that oil was going to have a big year,” Jim said. The Club does have a small position in oil and natural gas producer Coterra Energy as a hedge against geopolitical risk. We added to Coterra on Oct. 1 after oil and nat gas jumped that day on the escalating Mideast tensions. 3. Evercore ISI added Alphabet to its “tactical outperform” list late Monday. Analysts said that shares of the Google parent have underperformed heading into third-quarter earnings. Street expectations for search, YouTube, and cloud revenue growth are modest. Out of the mega caps Alphabet is the one Jim still has the “most trouble with.” We trimmed Alphabet on Sept. 25 after the market rose after the Federal Reserve’s jumbo interest rate cut. “If it gets hit and we have room,” Jim said, suggesting we could consider buying. The company is set to report earnings later this month. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were three Dow stocks Johnson & Johnson , UnitedHealth , and Goldman Sachs as well as Bank of America and Walgreens . (Jim Cramer’s Charitable Trust is long CTRA, NVDA, AMD, GOOGL. 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.
U.S. crude futures edged lower Wednesday to trade below $71 per barrel, after selling off steeply in the previous session on reports that Israel will not attack Iran’s oil facilities.
The U.S. benchmark tumbled more than 4% on Tuesday, after Israel told the U.S. that it will limit its retaliatory strikes to military targets in Iran, senior Biden administration officials told NBC News.
Crude oil prices have given up most of the gains made in the wake of Iran’s Oct. 1 ballistic missile attack on Israel, as fears of an oil supply disruption in the Middle East have eased.
Here are Wednesday’s energy prices:
West Texas Intermediate November contract: $70.28 per barrel, down 30 cents, or 0.43%. Year to date, U.S. crude oil has fallen nearly 2%.
Brent December contract: $73.94 per barrel, down 31 cents, or 0.42%. Year to date, the global benchmark has declined about 4%.
RBOB Gasoline November contract: $2.0378 per gallon, little changed. Year to date, gasoline has decreased about 3%.
Natural Gas November contract: $2.464 per thousand cubic feet, down 1.36%. Year to date, gas has pulled back about 2%.
Tesla announced today that it officially launched its Supercharger network in Chile with the first two stations:
One is in Santiago, the country’s metropole, and the other one is in Curauma, on the coast.
Tesla has already opened two stores in Chile, both in Santiago, and the automaker has a service center in the work in the city also:
Tesla is already taking orders in the country and the Chilean Model Y configurator currently shows delivery in “October-November”:
Chile is an interesting choice for a first entry into the South American market. The Chilean auto market consists of only about 300,000 vehicles sold per year.
That’s roughly the number of vehicles sold in Brazil every month.
While the size of the auto market in the country is small, there’s a strong interest for electric vehicles there, which might explain Tesla’s foray.
The country is rich in lithium, a critical material for EV batteries, which has helped create interest for electric vehicles in the country. The government also announced an initiative to allow for only new sales of electric vehicles in the country starting in 2035.
It will be interesting to see how Tesla will compete with Chinese automakers who have so far been leading the electrification of South American markets.
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Kia’s sporty EV6 GT is getting an overhaul. With its debut around the corner, the Kia EV6 GT facelift was spotted without camouflage for the first time.
After revealing the updated EV6 in May, Kia’s high-performance GT model is next in line for a refresh.
Kia claims the EV6 has “returned in a more perfect form” with more range, better ride quality, and a stylish new design. The updated model includes design elements from Kia’s latest EV models, like the EV3 and three-row EV9.
One of the most noticeable is the new daytime running lights and taillights with Kia’s “Star Map Signature Lighting.” The new thin LED light design is inspired by constellations, adding to its already bold look.
Kia didn’t stop at the lights. It fine-tuned the exterior, with the EV6’s hood now seamlessly flowing into the front bumper.
The GT-Line model gained additional details, including a 3D-patterned bumper for a lower, more aggressive stance.
Kia EV6 GT facelift spotted undisguised
With Kia’s most powerful EV, the EV6 GT (not GT-Line), next in line for a refresh, we are finally getting our first look at the updated high-performance EV undisguised.
Although we’ve caught a glimpse of the sporty EV a few times already, this is the first time it’s been spotted without camouflage.
The new photos from ShortsCar reveal the EV6 GT’s updated design. You can see the new DRLs and aggressive new bumper design right off the bat.
Like the EV6 refresh, the GT model will include a bigger battery and its fourth-gen batteries, enabling even more driving range. The new EV6 gets up to 307 miles (494 km) range in Korea, up from 295 miles (475 km).
With increased energy density, the new EV6 model can fast charge (10% to 80%) in just 18 minutes.
The interior will include Kia’s latest ccNC infotainment system, featuring dual 12.3″ driver and center screens.
According to TheKoreanCarBlog, like Hyundai’s IONIQ 5 N, the EV6 GT will also gain a virtual transmission for that “high-performance car” feel.
2024 Kia EV6 trim
Starting Price
Range (EPA)
Light RWD
$42,600
232 mi
Light Long Range RWD
$45,950
310 mi
Light Long Range AWD
$49,850
282 mi
Wind RWD
$48,700
310 mi
Wind AWD
$52,600
282 mi
GT-Line RWD
$52,900
310 mi
GT-Line AWD
$57,600
252 mi
GT AWD
$61,600
218 mi
2024 Kia EV6 prices and range by trim
Starting at $61,600, Kia’s EV6 GT is one of the most affordable sports cars (electric or gas-powered) on the market. Despite the upgrades, the new model is expected to start at around the same price.
The updated model is expected to retain the current GT model’s impressive 577 hp and 546 lb-ft of torque. However, with improved aerodynamics and powertrain, will Kia’s new model top the current GT’s 0 to 60 mph time in 3.4 seconds? We will find out soon, with its debut expected by the end of 2024.
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