Money
Tesla unveils longest supercharging route in China
Tesla has unveiled what it claims is the longest supercharging route in China.
Stretching 5,000 kilometers, spanning China from east to west, Tesla has unveiled what it claims is the longest supercharging route in the world. The route is studded with 27 electric-car charging stations along the way.
The electric car company released a promotional video about the ultra-long route, which also pays homage to China’s majestic landscape.
The charging route covers nine cities, starting from the eastern coastal hub of Zhoushan and stretching to the western city of Horgos bordering Kazakhstan.
It loosely follows the same path as the legendary Silk Road, a network of trade routes that for centuries was at the forefront of economic, political, cultural, and religious interactions.
With this new charging route, Tesla drivers will be able to travel to tourist attractions without the fear of their car running out of power.
Destinations on the route include the Kumtag Desert, the Turfan volcano and Sayram Lake, famous scenic destinations in Xinjiang.
China is the world’s biggest electric car market and is critical to Tesla
Elon Musk’s Tesla company has a factory in Shanghai and sells thousands of cars in the nation every month.
The recent unveiling will now see one charging station every 100 kilometers to 300 kilometers along the Silk Road.
EV drivers will have the ability to charge their cars in 15 minutes so that they can run for up to 250 kilometers – but that’s dependant on weather conditions.
Charging facilities are vital to the promotion of electric cars.
As the world embraces new EV technology, ‘range anxiety is one of the main reasons why people don’t want to make the switch away from gasoline vehicles.
The California-based company has already set up around 840 charging stations within China and more than 65,000 supercharging poles covering over 310 cities.
Money
Stocks rally ahead of Thanksgiving as markets log four days of gains
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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Money
Dow surges 500 points amid rate cut optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Money
Gold prices surge as Central Banks buy big, but risks grow ahead
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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