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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, September 26, 2023.

Brendan McDermid | Reuters

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

Some up, some down
U.S. stocks were mixed Wednesday, with the Dow Jones Industrial Average slipping 0.2%, the S&P 500 remaining mostly unchanged and the Nasdaq Composite adding 0.22%. The 10-year Treasury yield hit 4.607%, its highest since 2007. Europe’s Stoxx 600 dipped 0.18%, its fifth straight day of decline and lowest close since March 28, according to LSEG data.

Fiscally weaker than 2011
The U.S. is weaker now, fiscally speaking, than it was in 2011 when S&P Global Ratings downgraded the country’s long-term credit rating from AAA to AA+, said John Chambers, former chairman of S&P’s ratings committee. That’s because of even higher government debt and more intractable political gridlocks in Congress. The implication: Don’t be surprised by another ratings downgrade.

Rates aren’t high enough?
Minneapolis Federal Reserve President Neel Kashkari thinks the current interest rate range of 5.25% to 5.5% might not be high enough to be restrict inflation, he told CNBC. His evidence: The auto and housing sectors, traditionally most sensitive to rates, are “starting to show some recovery,” Kashkari noted.

Meta doubles down on the metaverse
Meta announced Quest 3, the latest version of its virtual reality headset. Available for $499 — $200 more expensive than the Quest 2 — the headset includes a feature called “passthrough” that allows users to see the world outside quickly. At the company’s event, Meta also announced new artificial intelligence software and digital assistants modeled by celebrities.

[PRO] Not the bottom yet
Stocks had an awful Wednesday — and September — and August. Well, it just hasn’t been great for stocks lately. But even after that turmoil, it doesn’t look like stocks have hit their bottom yet, writes CNBC Pro’s Bob Pisani. Here are the signs he’s looking for before he thinks stocks can rally again.

The bottom line

September’s story hasn’t changed: High yields and oil prices are dragging down stocks. But a twist in the story — a potential and increasingly unavoidable U.S. government shutdown — is making it truly difficult for stocks to have any confidence to climb.

Let’s look at each factor in turn.

Yields on the U.S. 10-year Treasury breached 4.6%, while that of the 2-year Treasury inched up to 5.137% yesterday. If yields continue on their upward trend, it’s likely they’d trigger fresh fears of recession as the cost of borrowing increases.

Rising Treasury yields aren’t the only costs weighing on the economy. Futures for West Texas Intermediate crude popped more than 3% to $93.83 while Brent rallied 2.76% to $96.55. As oil is an input cost for so many components of the economy — from the obvious like gasoline for vehicles, to the more unexpected like food and grocery prices — there’s a possibility companies and consumers will cut back on spending.

Last, a government shutdown means economic data will be delayed, hobbling a Federal Reserve that’s repeatedly said it’s “data-dependent.” With interest rates the highest they’ve been in more than 20 years, even the most careful calibration will have an outsized impact on the economy. Going at it blind — through no fault of the Fed’s — won’t inspire confidence in markets. And a shutdown risks another downgrade by ratings agencies.

Even though September’s already ending, things, as BTIG’s Jonathan Krinsky puts it, “are likely to remain messy.”

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BYD now has the world’s largest car transport ship and it just set sail overseas

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BYD now has the world's largest car transport ship and it just set sail overseas

The BYD “Shenzhen” set sail on its first voyage overseas this week. With 9,200 parking spots, or about enough to fill 20 football fields, BYD’s new car transport ship is now the world’s largest.

BYD’s largest car carrier sets sail for Brazil

BYD’s Shenzhen is on its maiden voyage to Brazil after setting sail on April 27. The vessel is carrying over 7,000 new energy vehicles (NEVs), including electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs). It’s the largest single batch of NEVs exported from China so far.

The new vessel is BYD’s fourth car transport ship and the world’s largest, capable of carrying 9,000 vehicles. According to the company, that’s enough to fill about 20 football fields.

BYD launched its first car carrier, the Explorer No 1, in January 2024. It has already completed several trips to Germany, Spain, and Brazil.

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Its second, the BYD Changzhou, set sail in December 2024, followed by the Hefei earlier this year. All three vessels can carry up to 7,000 vehicles, making the Shenzhen the largest so far.

BYD's-largest-car-transport-ship
BYD Shenzhen, the world’s largest car transport ship (Source: BYD)

The Shenzhen is named after the automaker’s hometown and demonstrates “BYD’s firm determination to promote sustainable development in Brazil.”

BYD is preparing to launch two more vessels, the Changsha and Xi’an. The Changsha is expected to launch soon, while the Xi’an was introduced on April 2.

The new car carriers will help accelerate BYD’s aggressive overseas expansion. In the first three months of 2025, the company sold over 206,000 NEVs overseas, more than double the number it sold last year.

BYD sells a wide range of vehicles in Brazil, including the low-cost Dolphin Mini, starting at around $20,000 (99,800 BRL). In October, it launched its first hybrid pickup truck, the Shark, starting at 379,800 BTL ($66,900).

Brazil is only one overseas market that BYD is targeting. BYD’s sales are expected to double in Europe in 2025, with significant growth in other key regions like Southeast Asia, Japan, Mexico, and South Korea, to name a few.

Source: BYD

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‘Tesla homes’ with solar roof and Powerwalls go on sale

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'Tesla homes' with solar roof and Powerwalls go on sale

‘Tesla homes’ in a Houston neighborhood where all the homes have Tesla solar roofs and Powerwalls went for sale.

7 out of the 11 homes have reportedly already sold.

Tesla neighborhood is a term that is being used for new developments where all the homes integrate all or part of Tesla’s power ecosystem, including the Powerwall home battery pack.

The best example is a giant new development project in Austin, Texas, by Brookfield Asset Management and Dacra in which up to 12,000 new homes are to be built and offering Tesla solar roofs and Powerwalls.

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However, since the announcement, it looks like only some of the homes in the new neighborhood have Tesla energy systems.

In 2022, Tesla also announced a similar project in Las Vegas.

A year later, the company claimed to have deployed “over 600 solar neighborhoods” worldwide, with a total capacity exceeding 100 MW.

One such ‘Tesla neighborhood’ is a small block of 11 townhouse homes featuring Tesla solar roofs and Powerwalls in Houston, Texas.

The homes were recently completed and went on sale, starting at $544,900.

Here are some pictures from the listings:

Utopia Homes, the developer behind the project, described the properties (via Chron):

Step into modern elegance expertly crafted by Utopia Homes. This property showcases groundbreaking Tesla Solar Roof Shingles and Power Wall technology, ensuring 100% energy security and eliminating electric bills for a truly sustainable lifestyle.

The house has proved popular according to the real estate agents, with 7 out of 11 homes already sold.

As we recently reported, Tesla’s solar roofs have proven to be a more expensive and niche product than the company previously presented.

Tesla has largely stopped discussing it, but it is still being deployed through some third-party installers, such as in this case, on new homes.

However, its Powerwall product remains a very popular solution for homeowners seeking greater energy independence and protection against outages, which have been a frequent problem in Texas.

More homeowners are turning to generators, and alternatives like home battery packs are gaining popularity.

Now is a great time to begin your solar journey. If you want to make sure you’re finding a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage. EnergySage is a free service that makes it easy for you to go solar – whether you’re a homeowner or renter. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20 to 30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online, and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Vision Marine launches 2 new electric pontoon boats with 90 nautical miles of range

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Vision Marine launches 2 new electric pontoon boats with 90 nautical miles of range

Canadian electric propulsion specialist Vision Marine continues to graduate beyond advanced outboard motors into a provider of all-electric boats. This month, Vision introduced two new electric pontoon boats – the 12-passenger V24 and 15-passenger V30, each capable of a range up to 90 nautical miles.

Vision Marine Technologies ($VMAR) is a Canadian technology company with over 25 years of experience in the marine industry. The company made waves (literally) by introducing its E-Motion turnkey powertrain system, which it has since integrated into a catamaran speedboat, which set a speed record of 109 mph in 2022.

Since then, Vision has introduced six hp two-cruiser vessels – the Fantail 217 and Volt 180, each capable of transporting 10 passengers via its E-Motion technology. Most recently, Vision Marine has integrated the full power of its 180 hp electric powertrain technology into two additional vessels, both electric pontoon boats.

Earlier this month, the company officially began sales of the Vision V24 and V30, which you can view below.

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  • Vision electric pontoon
  • Vision electric pontoon

Vision Marine brings power and range to electric pontoons

According to Vision Marine Technologies, orders for its two new electric pontoon boats are now open, and they are touting the same E-Motion technology that put the company on the map a few years ago.

The first model is the V24, a 12-passenger electric pontoon that is 24′ 8″ in length and has 180 hp. The ultra-quiet E-Motion powertrain is powered by a standard 43 kWh marine battery pack, offering 40 nautical miles (46 miles) of all-electric range on a single charge. For added range, Vision sells a version of the electric pontoon with a second battery pack, totaling 86 kWh and delivering up to 90 nautical miles (104 miles) of range.

While the V24 offers more of a classic attempt at the pontoon boat, Vision’s additional new vessel, the all-electric V30, is a tad sportier and provides room for more passengers aboard (15). This 30′ vessel features the same E-Motion powertrain options, complete with the same two battery configurations to offer the same ranges as the V24.

However, the V30 has additional features such as 4 x 6.5″ interior speakers and cool-touch seats. Both models feature an integrated onboard charger that supports both 120- 240V (30 to 50 amps) for seamless charging, no matter the dock plug while moored.

The Vision V24 starts at $99,995 for the standard battery pack version, while the V30 starts at a higher price of $139,995. As previously mentioned, both electric pontoon boats are available to order today.

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