Hyundai Is Becoming the New Tesla

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Hyundai has significantly invested in electric vehicle (EV) production in the United States, notably with a $7.6 billion factory in Georgia, aiming to challenge Tesla's market dominance. This strategic move ensures Hyundai's EVs, like the Ioniq 5, qualify for tax credits under the Inflation Reduction Act, enhancing their appeal to consumers.

However, President-elect Donald Trump's intention to eliminate these tax credits could impede EV sales and affect the industry's substantial investments in electrification. Despite this potential policy shift, Hyundai's diverse lineup—spanning the Hyundai, Kia, and Genesis brands—offers competitively priced, feature-rich electric models that may sustain consumer interest and adoption, positioning Hyundai as a formidable competitor to Tesla in the evolving EV landscape..

  • Forecasts call for the U.S. economy to grow steadily in 2025.

  • Strong consumer spending and a resilient job market underpin expectations for continued economic growth.

  • The policies of incoming president Donald Trump are a wildcard, as the tariffs and mass deportations he has promised could undermine the economy.

  • Goldman's forecasters are among the more optimistic and expect the economy to grow at a healthy 2.5% annual rate in 2025.

The S&P 500 finished virtually flat, the Nasdaq 100 dipped 0.1% and the Russell 2000 climbed 0.7% on Thursday.

The S&P 500’s advance-decline line was positive for the third straight day, with the number of risers outnumbering fallers by 64.

There were no dramatic moves at the sector level. In fact, this was the first session since August 10, 2023 that no S&P 500 sector ETF rose or fell at least 0.4%.

Consumer staples fared the best, while consumer discretionary did the worst with Tesla off 1.8% and Amazon down 0.9%.

What Else Are We Biting

  • New York to fine fossil fuel companies $75 billion under new climate law.

  • Squid Game season 2 is a brutal remix of Netflix’s biggest show.

  • Lego is reinventing its iconic brick sets and keeping the toy industry afloat.

  • A pet food recall over bird flu is linked to a cat's death.

Biting Fact Of The Day

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