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☆ Tesla keeps touting self-driving but one analyst's near-crash shows it's 'not even close' to autonomy
▼ + stars: | 2024-07-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewFollowing Elon Musk's bold assertions about "solving autonomy," a Truist Securities analyst took a Tesla Model Y out for a ride to test its Full Self-Driving capabilities. In a note seen by Business Insider, Truist analyst William Stein said the technology was "arguably worse than last time." This story is available exclusively to Business Insider subscribers. He said during the company's second-quarter earnings call that he would be "shocked" if the first Robotaxi ride wasn't possible next year, although he was unable to give an exact timeline.

Persons: —, Elon, William Stein, Stein, FSD, Tesla, Musk, Tesla didn't Organizations: Service, Truist Securities, Tesla, Business Locations: New York

☆ Elon Musk said Tesla robotaxi skeptics should try ‘full self driving.’ A Wall Street analyst nearly crashed
▼ + stars: | 2024-07-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —Tesla CEO Elon Musk says anyone who doubts how valuable robotaxis will make the company should test drive its latest self-driving car. A Wall Street analyst did just that – and said the car almost crashed. The experience of WIlliam Stein, an analyst with Truist Securities, is not unique; others have also reported problems with Tesla’s full self driving, or FSD, feature. But a note from Stein raises questions as to whether the autonomous driving and robotaxis Musk is betting Tesla’s future on are as close as he claims. Tesla’s FSD driver-assist feature is sold as an $8,000 option.

Persons: Elon Musk, WIlliam Stein, Stein, Tesla’s, ”, Truist’s Stein, Yuki Iwamura, Musk, That’s, “, ” Musk, ” Tesla, FSD Organizations: New, New York CNN, Truist Securities, Tesla, Bloomberg, Traffic Safety Administration, NHTSA Locations: New York, ”

☆ Tiffany Haddish defends Zimbabwe grocery store TikTok video after backlash
▼ + stars: | 2024-07-30 | by ( Amarachi Orie | Nimi Princewill | ) edition.cnn.com time to read: +3 min

CNN —Tiffany Haddish has responded to a backlash over a video she posted on TikTok in which she excitedly showed the folk back home that there are grocery stores in Zimbabwe. So, I’m out here in Zimbabwe in Harare and look at the grocery store. They got a grocery store. A screengrab taken from a TikTok video of Tiffany Haddish in a Zimbabwe grocery story. Believe it, believe it, believe it, believe it.

Persons: CNN — Tiffany Haddish, ” Haddish, Tiffany Haddish, “ Aw, “, “ Tiffany Haddish, Haddish, “ Tiffany, Mhako, Tiffany Haddish’s, ” Mhako Organizations: CNN, Zimbabwe National Chamber of Commerce, Boston Consulting Group Locations: Zimbabwe, Harare, Africa, ”

☆ How Flavor Flav became a sponsor and 'official hype man' of USA Water Polo at the Paris Olympics
▼ + stars: | 2024-07-29 | by ( Nicolas Vega | ) www.cnbc.com time to read: +3 min

The American stealing the show at the Paris Olympics is Flavor Flav. The 65-year-old performer, whose real name is William Jonathan Drayton Jr., has been a fixture at the 2024 games thanks to his partnership with USA Water Polo. The Public Enemy rapper has embraced his new role as "official hype man" of the women's team, appearing poolside at the team's matches wearing a water polo cap and Team USA branded waterproof clock necklace. "By sponsoring a water polo team and helping these girls out, this is bigger than me winning a Grammy." In a comment on the post, Flavor Flav committed his support to the team that has won gold for the past three Olympics.

Persons: Forget Simone Biles, Caeleb Dressel, Flav, William Jonathan Drayton Jr, I've, Maggie Steffens, aren't, imma Organizations: Paris, USA Water Polo, USA, USA Water, NBC, Roll Hall of Famer, Associated Press, CNBC Locations: Paris

☆ Female Invest, a Y Combinator-backed fintech startup, is expanding to the US after raising $11.2 million. Check out its 12-slide pitch deck.
▼ + stars: | 2024-07-29 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Female Invest, a fintech startup, has raised $11.2 million in funding to expand operations. Founded in 2019, the platform offers trading and investing education for women globally. AdvertisementFemale Invest, a Y Combinator-backed fintech startup that encourages women to invest, has raised $11.2 million in funding. CEO Anna-Sophie Hartvigsen told Business Insider that there was "there's a big pull from the market for this product." This story is available exclusively to Business Insider subscribers.

Persons: —, Anna, Sophie Hartvigsen Organizations: Service, Business

☆ Think N.Y.C.’s Roads Are Crowded? Good Luck on the Sidewalks.
▼ + stars: | 2024-07-29 | by ( Lola Fadulu | ) www.nytimes.com time to read: +1 min

This is Street Wars, a weekly series on the battle for space on New York’s streets and sidewalks. Any New Yorker who regularly walks around the city quickly learns which sidewalks are a pleasure to navigate and which are more like obstacle courses. Some are wide enough to stroll two, maybe three people across. Some are so narrow and crowded that it’s easier to just walk in the street, despite the danger. He was able to track those factors using data from the city and images from dash cameras used widely by ride-share drivers.

Persons: Matthew Franchi Organizations: Yorker, Cornell University Locations: Queens, Manhattan, Brooklyn, Staten Island, Bronx

☆ Female comedians are flipping the script on what they wear to perform
▼ + stars: | 2024-07-29 | by ( Leah Dolan | ) edition.cnn.com time to read: +10 min

CNN —Close your eyes and imagine a stand-up comedian. Today, female comics are more likely to be seen in vintage Versace, Gucci or Alessandra Rich than a denim button-down. To the uninitiated, Barone wore a sparkly silver dress. Dev Bowman“For a long time, female comedians were pressured into dressing like their male counterparts,” said Barone. “I don’t want it to seem like I’m saying I’m the first person to ever wear a dress to do stand up comedy,” she said.

Persons: Versace, Gucci, Alessandra Rich, ” Ziwe, George Santos, Jean Paul Gautlier, Ayo Edibiri, —, Loewe, Thom Browne, Rachel Sennott, Maya Rudolph, Mary Beth Barone, Barone, Kate Moss, Naomi Campbell, Moss, “, Instagram, Barone nodded, ” Barone, Jimmy Fallon, Tom Ford, De, Dave Benett, Sidewalkkilla Barone, Todd Owyoung, Britney Spears, Mary, Kate, Ashley Olsen, Paris, Mary Beth Barone Cat Cohen, ”, ’ ”, Cohen, Kelsely Randall, Chloe, Halle Bailey, Kelsey, aren’t, Phyllis Diller, Jean Carroll, Joan Rivers, Rivers, Midge Maisel, Maisel, Catherine Cohen, Dev Bowman, ” Cohen, ” Margaret Cho —, Betsy Johnson, Todd Oldham, Gemma Kong, Andrew Dice Clay, Louis C.K, ” Cho, ” Margaret Cho, Jay Leno, Margaret Norton, Cho, Ron Galella, Karen Kilgarriff, Janeane Garofalo, Kim Gordon’s, Janeane, Karen, Harry Styles, Forbes earnt Styles, Edebiri, It’s, ” Barone —, Dior Organizations: CNN, YouTube, Sydney, De Beers, NBC, Paris Hilton, Netflix, Globe, MTV, Hollywood Locations: New York, LA

☆ Why Elon Musk Is Supporting Donald Trump: to Save Tesla From Disaster
▼ + stars: | 2024-07-28 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

As market competition heated up, Tesla started cutting prices, which turned into an industrywide price war that Tesla isn't winning. It's a steep fall, considering Tesla's share of the EV market used to be as high as 80%. Critics balked, but Musk assured the Tesla community that this was the only strategy to save the company. Musk is looking for ways to buy time for Tesla — and one of those ways is to get Trump elected. Preserving Tesla's market position is imperative until he can conjure another product that people are excited to buy.

Persons: Elon Musk, Donald Trump —, Tesla, Trump, Joe Biden's, Kelley Blue, Musk, Ford, —, Critics, shouldn't, ZEV, Steve Granitz, Vaibhav Taneja, China's, Elon — Organizations: Elon, Trump, Tesla, White, EV, GM, Getty Images Trump, PAC Locations: China, USA, Shanghai

☆ What is 'underconsumption core'? A new trend on TikTok aims to get GenZ to buy less.
▼ + stars: | 2024-07-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

For many Gen Zers, the generation between the ages of 12 and 27, TikTok is the primary social media platform where they find products to buy. Gen Z doesn't really trust influencers anymoreInfluencers don't hold the same power they once did among younger audiences, some research suggests. Because of limited regulation of the social media advertising space, fraud runs rampant on social media . Some evidence suggests Gen Z is benefiting financially from living at home but may not feel these benefits because of money dysmorphia. This dysmorphia can sometimes be fueled by social media, where wealthy lifestyles are on display.

Persons: —, Zers, TikTok, it's, Stanley, Jade Taylor, Gen Z, Influencers, aren't, Gen, Z, Brett House Organizations: Service, Business, New York Times, Times, Yahoo News, Columbia

☆ I drove a $71,000 Genesis GV60 electric SUV. It's a luxurious delight that I wished had more range
▼ + stars: | 2024-07-28 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +1 min

The Genesis GV60 Performance is a compact luxury electric SUV that debuted in 2023. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGiven the popularity of compact luxury SUVs, it was inevitable that the segment would also blossom in the EV space. One of the latest entrants to the segment is the GV60, Hyundai's growing Genesis luxury brand. The Genesis GV60 debuted in 2023 and carries over unchanged for 2024.

Persons: —, Hyundai's Organizations: Service, Tesla, Mercedes, Benz

☆ Surprising element found in traces of Tyco Brahe’s alchemy lab confounds scientists
▼ + stars: | 2024-07-27 | by ( Ashley Strickland | ) edition.cnn.com time to read: +12 min

The covert nature of Brahe’s work was common among alchemists of the Renaissance, who kept their knowledge close to the vest. “Tungsten had not even been described at that time, so what should we infer from its presence on a shard from Tycho Brahe’s alchemy workshop?” Rasmussen said. In addition to serving as Brahe's home, Uraniborg functioned as a scientific center where students across Europe came to live and work. And Brahe himself wrote that the king was eager to support the scientist’s work in both astronomy and alchemy. Given the amount of gold found in Brahe’s remains, he may have also taken medicine containing potable, or drinkable, gold.

Persons: Tycho Brahe, Brahe, Kaare Lund Rasmussen, Poul Grinder, Hansen, Uraniborg, Lund University Gold, Rasmussen, ”, “ Tungsten, ” Rasmussen, Ann Ronan, Carl Wilhelm Scheele, Juan José, Fausto d’Elhuyar y de Suvisa, wolfram, Georgius Agricola, Agricola, Lawrence Principe, Drew, ” Principe, King Frederick II of Denmark, De Agostini, Paracelsus, Rudolph II, Emperor, Stjerneborg, “, ” Brahe, Isaac Newton, Johns, King Frederick II’s, Christian IV, Johannes Kepler, Kepler, Newton, Galileo Galilei Organizations: CNN, University of Southern, National Museum of Denmark, Heritage, Lund University, Getty Images, Humanities, Singleton Center, Johns Hopkins University, De Agostini Editorial, Culture, Hulton, Art, Sun, Scientific Locations: Danish, Ven, Sweden, University of Southern Denmark, Copenhagen, Europe, Baltimore . Principe, Norway, Uraniborg, Brahe’s, Mercury, Principe, Johns Hopkins

☆ Grimes, Elon Musk's ex, is speaking out in support of his estranged trans daughter
▼ + stars: | 2024-07-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk's former partner, Grimes, has spoken out in support of the Tesla chief's daughter, Vivian Jenna Wilson. "I love and am forever endlessly proud of Vivian," Grimes wrote in an X post on Thursday. It's notable that in her support of Wilson, Grimes referred to her as "Vivian." AdvertisementWilson is one of the 12 children that Musk shares with three different women — his ex-wife, Justine Musk, Grimes, and Neuralink executive Shivon Zilis. AdvertisementRepresentatives for Musk and Grimes did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Elon Musk's, Grimes, Tesla, Vivian Jenna Wilson, Vivian, lamm, " It, ong Organizations: Service, Business Locations: Wil, usk

☆ Trump running mate JD Vance doubles down on 'childless cat ladies' comment about Harris, Democrats
▼ + stars: | 2024-07-26 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

Sen. JD Vance, the running mate of former President Donald Trump, on Friday defended his comments accusing key Democrats — including Vice President Kamala Harris — of being miserable "childless cat ladies" who want to "make the rest of the country miserable too," as well as anti-family and anti-kids. Vance has been under fire for days after the "cat ladies" remark resurfaced online following the Ohio Republican's nomination as the party's vice presidential candidate. I explicitly said in my remarks," Vance said. At the time Vance made his remarks Buttigieg was in the process of adopting twin babies with his partner. A month after his comment in 2021, Vance appeared on Tucker Carlson's now defunct-show on Fox News — Kelly's former employer — and expanded on it.

Persons: Sen, JD Vance, Donald Trump, Kamala Harris —, Vance, Trump, I've, Megyn Kelly, —, it's, Harris, Pete Buttigieg, Cory Booker, Alexandria Ocasio, Douglas Emhoff's, Buttigieg, Tucker Carlson's, Fox News —, We're, they've, Kamala Harris Organizations: Ohio, Democratic, Intercollegiate Studies Institute, Transportation, Fox News Locations: Ohio, Alexandria, Cortez

☆ Senate prepares for key vote on kid's online safety bills
▼ + stars: | 2024-07-25 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

The Senate is poised to take a key vote on major legislation to keep kids safe online Thursday- the most sweeping regulation of the tech industry in more than a decade. said the measures social media companies have put in place are "not sufficient." One, known as the Children and Teens' Online Privacy Protection Act, would ban targeted ads to kids and teens. Social media companies would have to automatically enable the strongest privacy setting for kids. But House Speaker Mike Johnson said in an interview that Americans need to have more power over what their kids see online.

Persons: Charles Schumer, Joe Biden, Sen, Edward Markey, they're, NetChoice, Carl Szabo, Mike Johnson Organizations: U.S, Capitol, Senate, CNBC, FTC, Social, Snap Inc, Microsoft, Meta, Google, Yahoo

☆ Parisian Airbnb hosts are raking it in this summer as hotels suffer
▼ + stars: | 2024-07-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

Many will stay in the French capital's tens of thousands of hotel rooms, but many others are opting for short-term rentals, including Airbnbs. There are 44% more short-term rentals listed in Paris than there were last summer, according to AirDNA, a collector of industry data. The French capital had the fastest-growing short-term rental market in the EU over the last year, according to Lighthouse, a firm that analyzes the hotel market. National lawmakers are also poised to raise taxes on income from short-term rentals as a way to encourage homeowners to rent out their properties long-term. Airbnb, which dominates the short-term rental market in France, has leveraged the Olympics to expand its roster of hosts and guests in France.

Persons: —, Airbnb, Dave Stephenson, it's, AirDNA, RICCARDO MILANI, Blake Reiter, Reiter, they're, John van Hasselt, Anne Hidalgo, Hidalgo, wouldn't, " Reiter Organizations: Service, Olympic, Business, Games, City of, Getty, Time, Olympic Games Locations: Paris, That's, EU, France, City, Weeks

☆ Openness in AI is necessary to promote fair and competitive markets, said FTC's Lina Khan
▼ + stars: | 2024-07-25 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +6 min

"These conditions have allowed, in some instances, the biggest technology companies to get a layup in the AI space," Khan said. In particular, Khan called for AI models' weights to be publicly available. In the age of AI, Khan said both consumers and enterprises are uncertain of their data's protections when using foundation models. "We only focus on deals that have problems…it's a narrow set of deals that satisfy a narrow set of criteria." In March, Microsoft paid $650 million in a licensing deal to Inflection AI, an emerging OpenAI rival, to use its AI models and hire most of its employees.

Persons: —, Lina Khan, Khan, We've, you've, Jonathan Kanter, Kevin Dietsch, Kanter, execs Organizations: Service, Federal Trade Commission, FTC, Big Tech, Microsoft, Google, Business, Meta, Antitrust, Department of Justice, DOJ, Apple, Tech, New York VC, YC, Amazon Locations: OpenAI, America

☆ Here are Wednesday's biggest analyst calls: Tesla, Spotify, Apple, GM, Alphabet, Imax, Disney & more
▼ + stars: | 2024-07-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: RBC upgrades Estee Lauder to outperform from sector perform RBC said it sees an attractive risk/reward. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by shares of Tesla following the release of disappointing earnings. Morgan Stanley initiates Biohaven as overweight Morgan Stanley said it sees "value creation" for the biotech company. Morgan Stanley downgrades General Motors to equal weight from overweight Morgan Stanley said it sees a more "balanced" risk/reward for shares of GM. " Cantor Fitzgerald downgrades Tesla to neutral from overweight Cantor downgraded Tesla following earnings on Tuesday.

Persons: Lauder, Raymond James, Taylor Morrison, it's, Morgan Stanley, Tesla, Tesla's, TD Cowen, JFrog, Cowen, Lockheed Martin, Goldman Sachs, Goldman, Smith, Stifel, GOOGL, Jefferies downgrades, Gamble, Jefferies, Piper Sandler downgrades Ulta, Piper, Gordon Haskett, Joel Anderson, Cantor Fitzgerald downgrades Tesla, Cantor Organizations: RBC, Taylor Morrison Homes, Tesla, Lockheed, Spotify, JPMorgan, Garden Entertainment, Apple JPMorgan, Apple, Jefferies downgrades Colgate, Palmolive, Procter, Colgate, Gamble, Deutsche Bank, Deutsche, Motors, GM, Barclays, Disney, Universal Studios, Davidson Locations: GenAI, Malibu

☆ ‘Coup’ and ‘Cover-Up’: How the G.O.P. Is Reacting to the Harris Candidacy
▼ + stars: | 2024-07-24 | by ( Karen Yourish | Lazaro Gamio | ) www.nytimes.com time to read: +7 min

Recent polling suggests nearly 9 in 10 Americans believe Mr. Biden’s decision to step aside was the right one. 65 called Mr. Biden’s withdrawal a coup or said it amounted to election interference. These statements have tended to argue that Mr. Biden’s decision to end his candidacy was not his own, was not democratic or both. Some of this language began to bubble up among Republicans even before Mr. Biden announced that he would drop out. One common line of attack, positing that Ms. Harris failed as a “border czar,” is misleading.

Persons: ’, Joe Biden, ‘, Harris, Kamala Harris, Biden’s, Harris’s, Biden, Mr, Biden —, —, ’ Thomas Massie, Trump, ’ Mark Alford, Josh Hawley, Donald J, Chris LaCivita, Trump’s, ”, I’m, Biden Harris, he’s, ’ Eric Schmitt, Roger Marshall Senator, Kan, Kat, ‘ Kamala Harris, ’ Ron DeSantis, ’ Jack Bergman, ’ Mike Johnson, ‘ Where’s Biden, Nancy Mace, S.C, ’ Markwayne Mullin, Okla, ’ Lauren Boebert, ” Harris, Greg Abbott Governor, ’ Elise Stefanik, Cackling Kamala, ’ Warren, ‘ Fran, ’ Mike DeWine, ’ Lindsey Graham, ’ Lisa Murkowski Organizations: Left, New York Times, White, The Times, ’ Thomas Massie Representative, Republican, Convention, Biden, Kat Cammack, Fla, House, Democrats, Colo, Far Left Democrats ’, ’ Warren Davidson Representative Locations: Delaware, Covid, Ky, Mo, Fla, Washington, Greg Abbott Governor , Texas, Ohio, Alaska

☆ Tesla's cars are starting to look pretty basic — and that's a problem
▼ + stars: | 2024-07-24 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

But people looking for a flashy new design in Tesla's more traditional car lineup are stuck waiting for now. The Model S and Model X used to be the ultimate status symbol. In 2020, TikTok star Addison Rae made headlines when she was spotted in her bright pink Tesla Model X. And the design of the Model S and Model X hasn't been meaningfully updated since 2021. "If you start announcing some great thing, it affects our near-term sales," Musk said on Tuesday.

Persons: —, Tesla, Addison Rae, Brian Moody, Elon Musk, Tesla's, Edmunds, Ivan Drury, that's, Moody, Musk, Osborne, Stephanie Valdez, Valdez, Streaty Organizations: Service, Business, Cox Automotive, Streaty, Cox Automotive Industry, EV

Typically if one bank account owner dies, the surviving owner gets sole control of the account. IntroductionOpening a joint bank account is different from opening up an individual bank account. Both owners have full access to a bank account, and joint bank account rules also dictate specific actions if one owner dies. Rights of survivorshipWhen you're opening up a new bank account, you'll receive a bank account agreement that lists the bank's conditions and rules. A joint bank account beneficiary can't set up direct deposits, make withdrawals, or view your bank account when you're alive.

Persons: you'll, Sophia Bera Daigle, —, Bera Daigle, Bera Daigle doesn't, there's Organizations: Gen, Insurance

As Tesla CEO Elon Musk continues to make lofty promises about his company's future in autonomous driving and robotics, investors keep watching profit margins deteriorate. It's the fourth straight quarter of shrinkage. The company reported just $1.48 billion in net income on revenue of $25.5 billion, which included $890 million in regulatory credits. "Affordability remains top of mind for customers," said Vaibhav Taneja, Tesla's chief accounting officer, on the company's earnings call. Tesla began offering a five-year, zero interest loan offer to spur sales of its EVs in China in April.

Persons: Elon Musk, Tesla, Vaibhav Taneja Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Nasdaq Locations: Beverly Hills , California, China, CnEVPost, Shanghai, Germany

☆ From Gowanus to Rhinebeck: ‘It’s a Whole Lifestyle Change.’
▼ + stars: | 2024-07-23 | by ( Tim Mckeough | ) www.nytimes.com time to read: 1 min

When Charles Brill and Merrill Lyons bought land in upstate New York, they imagined building a weekend home there, an escape from their full-time life in Gowanus, Brooklyn. But that was before the pandemic made them rethink the way they lived. For years before they bought the property, said Mr. Brill, 40, a founder of the lighting company RBW, “we would seek out all the different farmers markets of the Hudson Valley and take day trips to different towns,” trying to figure out which places they liked best. They finally settled on an eight-acre lot outside Rhinebeck, N.Y., paying $123,000 in September 2019.

Persons: Charles Brill, Merrill Lyons, Brill Locations: New York, Gowanus , Brooklyn, “, Hudson, Rhinebeck, N.Y

☆ June home sales slump, pointing to a buyer's market as supply increases
▼ + stars: | 2024-07-23 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

"We're seeing a slow shift from a seller's market to a buyer's market," said Lawrence Yun, chief economist for the Realtors. These inventory levels are the highest supply since May 2020, boosted by homes sitting on the market longer. Supply of homes for sale is weakest on the lower end, but is seeing a new surge now. While the sales price nationally is high, new listing prices are lower. Either home sales rise, or, if the prices do not rise, the prices would buckle down," Yun added.

Persons: Lawrence Yun, Danielle Hale, Yun Organizations: National Association of Realtors, Realtors, Realtor.com, Investors Locations: Patchogue, N.Y, Patchogue , New York

☆ The stock market is approaching 2 catalysts that will spark the next leg of the bull run, market vet says
▼ + stars: | 2024-07-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The record stock market rally will get a boost from key economic data and earnings results, Ed Yardeni said. Yardeni highlighted strong company earnings and profit margins supporting the market in a way it didn't in 2000. AdvertisementThe stock market rally is set to continue this week as investors digest two key pieces of economic data and an onslaught of second-quarter earnings results. "We've acknowledged that the current stock market rally is reminiscent of the valuation-led market meltup of the 1990s. "We're expecting S&P 500 earnings per share of $250, $270, and $300 in 2024, 2025, and 2026, respectively.

Persons: Ed Yardeni, —, We've, we've, Yardeni, We're Organizations: Service, Yardeni Research, PCE, Federal Reserve

☆ Rivian's CEO has a theory for the slowdown in EV growth
▼ + stars: | 2024-07-23 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

The CEO said there's bias skewing conversations about EV growth and what's caused a slowdown. Tesla's Model Y remains the world's best-selling vehicle and the second most popular vehicle from the EV giant is the Model 3 sedan. "Maybe they wanted something that was a little bit bigger, but they got something that was more like the Model Y," Scaringe said. AdvertisementThe CEO said that similarly to the R1, Rivian's R2 is "very intentionally" "not trying all to be a Tesla Model Y." The model will cost $45,000, comparable to Tesla's Model Y, which starts at $43,000.

Persons: —, RJ Scaringe, haven't, Scaringe, Tesla, Rivian, It's Organizations: Service, Business, Tesla's, Tesla, EV

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