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☆ China's Li Auto says to start mass production of its first EV in Feb
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

Staff members stand at the booth of Chinese electric vehicle (EV) maker Li Auto, at a shopping mall in Beijing, China November 3, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsCompanies Li Auto Inc FollowSHANGHAI, Nov 17 (Reuters) - Li Auto (2015.HK) said on Friday it will start mass production and delivery of its first pure electric car in February, as the up and coming Chinese automaker bets on fast charging technologies to solve range anxiety for EV users. The MEGA MPV will also be the first model to be produced at Li Auto's Beijing plant with a designed capacity of 100,000 units annually. Founded in 2015, Li Auto has been offering four extended range hybrid SUVs targeting family users. ($1 = 7.2441 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Muralikumar Anantharaman and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Auto, Tingshu Wang, Li, Zhang Yan, Brenda Goh, Muralikumar Anantharaman, Raju Gopalakrishnan Organizations: REUTERS, HK, Li Auto, Thomson Locations: Beijing, China

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. Shares of Cisco Systems (CSCO.O) shed 11.5% as the communications and networking firm cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. However, regional (Fed) authorities have very diverse opinions and (it) confuses investors," said Peter Andersen, founder of Andersen Capital Management in Boston. However, Andersen said he is still optimistic about the possibility of a soft landing for the economy and a year-end rally. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and for a 1.45-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Peter Andersen, Andersen, Michael Barr, Li Auto, Joe Biden, Xi Jinping, advancers, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, Walmart, Cisco Systems, Target, U.S . Federal, Andersen Capital Management, Treasury, Labor, Dow Jones, Palo Alto Networks, Baidu, U.S, NYSE, Thomson Locations: New York City, U.S, Boston, billings, Bengaluru

☆ Microsoft is fine avoiding China as U.S. considers national security implications, CEO Satya Nadella says
▼ + stars: | 2023-11-15 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft is not focused on China as a domestic market, though the company has notable Chinese customers with operations outside the world's second most-populous country, CEO Satya Nadella said on Wednesday. "A lot of the Chinese multinationals operating outside of China are our bigger AI customers, perhaps." Microsoft provides artificial intelligence services to electric vehicle maker Li Auto and consumer electronics company Xiaomi, among others. Still, Nadella acknowledged on Wednesday that the U.S. government has important restrictions to follow when it comes to doing business in China. The U.S government uses Microsoft Azure cloud services and Microsoft 365 productivity apps.

Persons: Satya Nadella, Nadella, CNBC's Jon Fortt, Li, Nadella's, Joe Biden, Xi Jinping, Meta's, Bing, Deepwater's Gene Munster Organizations: Microsoft, Microsoft's Ignite, Li Auto, U.S, . Commerce Department, Meta's Facebook, Baidu, USG, LinkedIn Locations: China, Seattle, San Francisco, Bing, Beijing, United States, U.S, Europe, Asia

☆ This EV battery stock has potential double-digit gains ahead. UBS thinks it could even surge 100%
▼ + stars: | 2023-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Nomura has a price target of 315 yuan — for an upside of nearly 67% from Friday's close. Even after trimming their price target on the buy-rated stock, the analysts have a price target of 266 yuan — just over 40% upside from Friday's close. They have a price target of 284 yuan, or 50% upside from Friday's close. More products coming to market The company already has just over a third of the global EV battery market, with more products on the way, according to Counterpoint Research. Li Auto, which reported record deliveries in October that beat out Tesla , is launching its first purely battery-powered vehicle in December — with a new CATL battery called Qilin.

Persons: That's, Nomura, CATL, FactSet, Peter Richardson, Li Auto, Tesla, — CNBC's Michael Bloom Organizations: Amperex Technology, BMW, Tesla, Union, HSBC, Revenue, VW, Mercedes, Benz, EV, Jefferies, Research, Chery, UBS Locations: Shenzhen, Friday's, EU, Thuringia, Hungary, —, Jiangxi

☆ CNBC Daily Open: Powell’s hawkish speech sent bond yields soaring
▼ + stars: | 2023-11-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Hawkish PowellIn a speech that carried broad hawkish overtones, Federal Reserve Chair Jerome Powell said the U.S. central bank is "not confident" monetary policy is "sufficiently restrictive to bring inflation down to 2 percent." Still, Powell acknowledged there's a "risk of overtightening," and said "monetary policy is generally working the way we think it should work." Both are economic giants that have yet to achieve their full potential, but hold promises for emerging market investors.

Persons: Hawkish Powell, Jerome Powell, Powell, there's, Hong, Wynn Macau, Tesla's, Tesla, SMIC Organizations: CNBC, Nasdaq, Wynn, HSBC Global, HSBC, Li Auto, Chinese Passenger Car Association Locations: U.S, Asia, Pacific, Tesla's, China, India, —

☆ Startup Li Auto is beating Tesla China's EV sales
▼ + stars: | 2023-11-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Chinese startup Li Auto sold more cars in October than Tesla's China business did in October, according to the China Passenger Car Association. BEIJING — Chinese startup Li Auto sold more cars than Tesla' s China business did in October, according to the China Passenger Car Association. The startup sold a record 40,422 cars in October, far more than Tesla did at 28,626, association data showed Thursday. Li Auto plans to begin delivering its first battery-only model in February 2024, the MEGA multi-purpose vehicle. The company said it's planning three more battery-only vehicles for launch in the second half of next year.

Persons: Tesla, Li Organizations: Li Auto, China Passenger Car Association Locations: China, BEIJING

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Chinese EV upstart Nio plans to cut workforce by a tenth
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

The logo of NIO seen on an EL6 car model is pictured at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. Nio has told staff the reduction exercise would be completed in November, it said in a statement to Reuters. "We still have a gap between our overall performance and expectations," it told staff in an email, adding that it needed to improve efficiency and ensure adequate resources. Apart from the layoffs, Nio said it would defer or cut long-term project investments that would not contribute to financial performance within three years. Reporting by Zhang Yan, Qiaoyi Li and Brenda Goh Editing by Tomasz Janowski and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Nio, Li Auto, BYD, Tesla, Zhang Yan, Qiaoyi Li, Brenda Goh, Tomasz Janowski, Clarence Fernandez Organizations: REUTERS, Rights, HK, EVs, Reuters, U.S, China's EV, Thomson Locations: Berlin, Germany, Rights SHANGHAI, BEIJING, China, China's, Europe

☆ Nissan CEO weighs in on how the EV market has changed since Covid
▼ + stars: | 2023-11-02 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +3 min

That presents a series of challenges to established automakers like Nissan, which have followed global strategies for decades. The market has been fragmented, and customers' acceptance speed is also different," Uchida said. "So what's important is how much we can start to localize in each respective market," Uchida said. But many of those new Nissan EVs will no longer be global models. For instance, EV customers in China are very sensitive to pricing – but they also want the latest technology, which they've come to expect from the fierce competition between the many domestic Chinese EV makers.

Persons: Makoto Uchida, –, CNBC's Martin Soong, Uchida, they've, Li Auto, Kraft Heinz, FanDuel Organizations: Nissan Motor Co, Nissan Hyper Force, Japan, Nissan, Toyota, Volkswagen, Target, FedEx, Kraft, CNBC PRO Locations: Tokyo, Japan, U.S, Europe, China

☆ CNBC Daily Open: The Fed keeps rates, markets celebrate
▼ + stars: | 2023-11-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

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. Rates unchanged, againThe Federal Reserve kept interest rates unchanged, holding the key federal funds rate in a target range between 5.25% to 5.5%. Markets cheered decisionU.S. markets rallied Wednesday as investors digested — and cheered — the Fed's decision to hold rates steady. [PRO] The S&P 500(0) dreamIn August, Morgan Stanley Investment Management's Andrew Slimmon said the S&P 500 would hit 5,000 this year.

Persons: Jerome Powell, Powell, —, Xpeng, Nio, BYD, Morgan Stanley, Andrew Slimmon Organizations: CNBC, Federal Reserve, Nikkei, U.S . Treasury Department, Li Auto, Morgan, Morgan Stanley Investment Locations: Asia, Pacific, U.S

☆ Chinese EV startups Xpeng, Li Auto deliver a record number of cars in October
▼ + stars: | 2023-11-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Xpeng reveals its G6 SUV at a major auto show in Shanghai on April 18, 2023. BEIJING — Chinese electric car companies Xpeng and Li Auto each delivered a record number of cars in October, according to company releases late Wednesday. Xpeng said it delivered 20,002 cars last month. Li Auto's monthly deliveries remained far ahead of its immediate peers at 40,422 cars in October. Nio said it delivered 16,074 cars in October, up slightly from the prior month but below the 20,462 vehicle deliveries reported for July.

Persons: Xpeng, Li, Nio Organizations: Li Auto Locations: Shanghai, BEIJING, That's

☆ Jeep, Dodge maker Stellantis to invest $1.6 billion in Chinese EV startup Leapmotor
▼ + stars: | 2023-10-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCStellantis on Thursday said it will invest 1.5 billion euros ($1.58 billion) in Chinese electric vehicle startup Leapmotor , as traditional automakers look for a way to compete in China's cutthroat market. The companies will form the Leapmotor International joint venture, aiming to boost sales of the Chinese brand's electric cars overseas. China, the world's biggest electric vehicle market, is dominated by domestic company BYD , as well as U.S. automaker Tesla . Traditional vehicle companies have been seen to be too slow to transition to manufacturing electric vehicles, hampering potential growth in the Chinese market. Stellantis eyes China boostThe deal could boost Stellantis' efforts in China, by having a local partner lead the way.

Persons: Arjun Kharpal, Li Auto, Stellantis, Abhik Mukherjee, Carlos Tavares, Leapmotor, Zhu Jiangming, Counterpoint's Mukherjee, Bill Russo Organizations: Leapmotor, CNBC, International, JV, Chrysler, Maserati, Tesla, Huawei, Counterpoint Research, EV, IAA, Guangzhou Automobile Company Locations: Leapmotor . China, China, Hangzhou, Munich, Greater China, Europe, Stellantis, China's Xpeng

☆ The U.S. is trying to tighten the screws on Chinese AI. What that means for stocks
▼ + stars: | 2023-10-22 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

The artificial intelligence behind ChatGPT-like products and autonomous driving is driving enormous demand for Nvidia's chips in China. Chinese companies also dominate the burgeoning electric car market , where Nvidia has had a fast-growing business of selling chips for assisted and fully autonomous driving. When it comes to such chips for cars, Nomura analysts said there's little reason to worry. Auto chip market BYD, Nio , Li Auto and Xpeng are among the China-based electric automakers using the Orin chip. In the automotive chip category, they noted Nvidia's Thor chip and Qualcomm's Snapdragon Ride Flex chip both fall into that more advanced category.

Persons: Orin, Orin X, Joel Ying, Li Auto, Albert Liu, Weeks, Kneron, Liu, Julian Ma, Ma, Inceptio, Nomura, Inovance Organizations: Nvidia, Nomura, Nomura China Technology, Auto, CNBC's East Tech West, Apple, HSBC, SEC, U.S, Management Locations: China, U.S, Nomura China, South, German, Inovance's, Hong Kong

☆ Chinese EV stocks tank after Tesla earnings disappoint
▼ + stars: | 2023-10-19 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

(Photo by VCG/VCG via Getty Images)Shares of Chinese EV-makers were battered on Thursday after Tesla reported disappointing third-quarter results on Wednesday where the company missed estimates. It was the first time Tesla, co-founded by Elon Musk, missed on both earnings and revenue since second-quarter 2019. On Thursday morning, Hong Kong-listed shares of Chinese EV makers BYD and Xpeng fell 2.18% and 8.76% respectively. Musk said the company is working to bring down the prices of its cars amid high interest rates, but it is as challenging as "Game of Thrones, but pennies." "I'm worried about the high interest rate environment we're in," he said, adding that it will be much harder for consumers to purchase cars if interest rates were to increase further.

Persons: Tesla, Elon Musk, Li Auto, Geely, Musk Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Getty, Elon Locations: SHANGHAI, CHINA, Shanghai, China, Hong Kong, Xpeng

☆ China's car sales quicken in Sept; exports rise 50%
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Passenger vehicle sales totalled 2.04 million units in Sept, the China Passenger Car Association (CPCA) said on Wednesday. Reuters GraphicsNew energy vehicle (NEV) sales were up 22.1% in September from a year earlier, making up 36.6% of total car sales, and helping several local brands set record high sales. Reuters GraphicsSeptember is traditionally a bumper month for car sales in China, partly because many people go on a shopping spree ahead of the Mid-Autumn Festival and National Day holidays. CPCA Secretary General Cui Dongshu said the downturn in the property market bode well for car sales, as many people were now choosing to buy cars instead of investing in housing. For the first nine months, sales in the world's largest car market rose 2.1% to 15.41 million units.

Persons: Tingshu Wang, General Cui Dongshu, bode, Tesla, Qiaoyi Li, Zhang Yan, Brenda Goh, Miral Organizations: Business, REUTERS, Rights, China Passenger Car Association, Reuters Graphics, Reuters, CPCA, Overseas, EU, Exports, EV, Li, HK, Thomson Locations: China, Rights BEIJING, U.S

☆ UK's CMA says examining Qualcomm's buyout of Israel's Autotalks
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Autotalks and Qualcomm logos are seen in this illustration taken, May 8, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsCompanies Autotalks Ltd FollowQualcomm Inc FollowSept 29 (Reuters) - Britain's antitrust regulator on Friday said it was examining whether Qualcomm's (QCOM.O) purchase of Israeli auto-chip maker Autotalks would lessen competition in the UK market. Qualcomm had said it would acquire Autotalks, a maker of chips used in crash-prevention technology in vehicles, but had not disclosed the terms of the deal. Autotalks, which makes dedicated chips used in the V2X communications technology sector for manned and driverless vehicles, would help Qualcomm expand its automotive business. Qualcomm and Autotalks did not immediately respond to Reuters' request for comment.

Persons: Dado Ruvic, Autotalks, Eva Mathews, Rashmi Aich, Dhanya Ann Thoppil Organizations: Qualcomm, REUTERS, Markets Authority, Politico, U.S . Federal Trade Commission, Reuters, Thomson Locations: Bengaluru

☆ Stocks making the biggest moves midday: Alcoa, Nio, Williams-Sonoma, Chefs' Warehouse and more
▼ + stars: | 2023-09-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Alcoa — Shares of the aluminum stock slipped 6.1% after the company said executive vice president William Oplinger would succeed Roy Harvey as CEO and president. Li Auto — U.S.-traded shares of the Chinese EV company dropped 10% following news that Huawei made moves in the increasingly competitive space. GE HealthCare Technologies — Shares of the medical technology gained 3.3%. JD.com — U.S.-listed shares of the Chinese e-commerce stock slid 2.1% as concerns over the state of the country's economy grew. Chefs' Warehouse — The specialty food distributor popped 1.6% after UBS initiated coverage of the stock at a buy.

Persons: William Oplinger, Roy Harvey, Oplinger, Nio, Li, Leonard Green, Canaccord Genuity, Yun Li, Jesse Pound, Pia Singh, Brian Evans, Hakyung Kim Organizations: Alcoa Inc, Davenport, Alcoa —, U.S, Li Auto, EV, Huawei, GE HealthCare Technologies, GE HealthCare, Williams, Sonoma —, Green Equity Investors, Partners, Dow Inc, JPMorgan, Technologies, Citi, Chefs, UBS, Hudson Technologies Locations: Riverdale , Iowa, Williams, Sonoma, —

☆ Going beyond Tesla: ETF bets solely on electric vehicle makers
▼ + stars: | 2023-09-23 | by ( Natalie Zhang | ) www.cnbc.com time to read: +1 min

Defiance ETFs runs the Solactive Pure U.S. Electric Vehicle ETF — which is also known as the Pure EV Index fund. Tesla is the top holding for many electric vehicles ETFs after gaining more than 98% so far this year. Other EV ETFs including Global X autonomous & electric vehicles ETF and KraneShares Electric Vehicles & Future Mobility ETF have holdings in companies that produce EV components or are tech-related. However, the Pure EV Index fund is composed of only the five largest market-cap EV makers: Tesla , Nio , Rivian, Li Auto and Xpeng . The Pure EV Index fund's total net assets are currently $5.1 million.

Persons: It's, Sylvia Jablonski, CNBC's, Tesla, Li Auto, Jablonski Organizations: Electric, ETF, Apple, Microsoft, Nvidia, Global, KraneShares Electric Vehicles, Future Mobility

☆ S&P 500, Nasdaq notch biggest weekly losses since March
▼ + stars: | 2023-09-22 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. All three posted weekly losses, with the S&P 500 and the Nasdaq registering their largest Friday-to-Friday percentage drops since March. On Thursday, the S&P 500 dipped below its 100-day moving average - a key support level - for the first time since March, Its failure to break above that level suggests the index is still under downward pressure. Among the 11 major sectors of the S&P 500, consumer discretionary (.SPLRCD) suffered the steepest percentage loss, while tech (.SPLRCT) and energy (.SPNY) were the only gainers. The S&P 500 posted one new 52-week high and 35 new lows; the Nasdaq Composite recorded 33 new highs and 321 new lows.

Persons: Brendan McDermid, Alibaba, Zachary Hill, Hill, Jerome Powell, Michelle Bowman, Robert Pavlik, Li Auto, Stephen Culp, Ankika Biswas, Shristi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Reuters, UAW, Dow, Nasdaq, Horizon Investments, Benchmark U.S, Treasury, Dakota Wealth, Dow Jones, Ford Motor, United Auto Workers, Activision, Microsoft, PDD Holdings, Baidu, Bloomberg, Hong, NYSE, Thomson Locations: New York City, U.S, Hong Kong, Charlotte , North Carolina, Fairfield , Connecticut, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.

Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Ford Motor (F.N) advanced 2.5% after Reuters reported the United Auto Workers (UAW) was set to announce progress in labor contract talks with the carmaker. Several Fed policymakers, including policy voting member Minneapolis President Neel Kashkari, are set to speak during the day. Advancing issues outnumbered decliners by a 2.11-to-1 ratio on the NYSE and by a 1.44-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and 26 new lows, while the Nasdaq recorded 14 new highs and 102 new lows.

Persons: Brendan McDermid, dampening, Jason Pride, Neel Kashkari, Li Auto, Alibaba, Bernstein, Wells, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Ford, Reuters, UAW, Dow, Nasdaq, United Auto Workers, U.S, Treasury, Apple, Nvidia, Minneapolis, Dow Jones, PDD Holdings, Baidu, Hong, Charter Communications, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Hong Kong, Bengaluru

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSummaryCompanies Spirit Airlines slips on revenue outlook cutFord rises on plans to double production of pickup trucksConsumer prices data due at 8:30 a.m. ETFutures down: Dow 0.12%, S&P 0.12%, Nasdaq 0.15%Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. "All indications are that higher oil costs are going to influence the headline inflation print. Investors will also closely monitor August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.

Persons: Mike Segar, Tim Waterer, Li Auto, Ankika Biswas, Shristi, Shubham Batra, Savio D'Souza, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Spirit Airlines, Dow, Nasdaq, stoke, Labor, KCM, Federal Reserve, Dow e, Apple, Li, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Xpeng, Bengaluru

☆ Wall Street analysts tore down a Chinese Tesla rival and say it's exactly why Elon Musk should be worried about China
▼ + stars: | 2023-09-12 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Chinese electric car maker BYD might be the closest thing to a true Tesla competitor. Experts say the auto company's Seal electric sedan is comparable to the Tesla Model 3. UBS analysts tore down the Seal and found it's a great Model 3 alternative for less. AdvertisementAdvertisementInterestingly, unlike Tesla, BYD seems to be steering clear from autonomous driving technology, and instead, is opting for a standard, Level 2, advanced driver assistance system. "Given the Chinese EV development cycle is still faster than that of the foreign brands, we believe Chinese brands' market share gains from foreign brands will be structural and continuous."

Persons: Warren Buffett's Berkshire Hathaway, Elon, Tesla, Li Auto, it's Organizations: Tesla, UBS, Service, EV, Tesla's, Getty Images Locations: Wall, Silicon, China, Europe, Munich, German

☆ UBS loves these electric vehicle stocks — and says one offers China's 'answer to Tesla Model 3'
▼ + stars: | 2023-09-08 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

UBS named electric vehicle stocks it likes in China and described one car as a "Chinese answer to Tesla Model 3." It enjoyed some edge not only over foreign incumbents, but also Chinese EV startups," UBS analysts led by Paul Gong wrote in a Sept. 1 research note. UBS described the Seal model as having a large interior space, with 5G connectivity and a rotating cockpit screen. "The result is a decent alternative to Tesla Model 3 at 10-20% lower selling price," the analysts wrote. Chinese EV stocks Alongside BYD, the bank is buy-rated on Great Wall Motor , which has several EV models.

Persons: BYD, Paul Gong, — CNBC's Michael Bloom, Ganesh Rao Organizations: UBS, Tesla, China EV, Hong, Toyota, BYD, Li, Amperex Technology, Shenzhen Stock Exchange, VW, Renault Locations: China, Europe, Hong Kong

☆ China's auto workers bear the brunt of price war as fallout widens
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Millions of auto workers and suppliers in China are feeling the heat as an electric vehicle price war forces carmakers to shave costs anywhere they can. State-run China Automotive News estimates there are over 100,000 auto suppliers in the country. Suppliers typically negotiate prices once a year, but many have been pressed to lower prices on a quarterly basis in 2023, two senior executives at auto suppliers said. And in June, a group of small suppliers wrote to state-owned Changan Automobile to push back against 10% price reductions. Three months later, he told Reuters that price cuts had been more aggressive in 2023 than in previous years.

Persons: Aly, Mike Chen, Chen, carmakers, Tesla, George Magnus, Elon Musk, Mike Chen's, Li Auto, Liu, Changan Automobile's, Chen Yudong, They've, Zhang Yan, Brenda Goh, Kripa Jayaram, Marius Zaharia, David Clarke Organizations: SAIC Volkswagen, REUTERS, Rights, Shanghai, SAIC, Volkswagen, VW, Oxford University's China, China Passenger Car Association, Tesla, GM, HK, Changan Automobile, Mitsubishi Motors, Toyota, Hyundai, China Automotive, Automobile, EV, Reuters, Thomson Locations: Shanghai, China, China's, Beijing, Shenzhen, Hefei, Chongqing, Chery's, Qingdao

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