In case you missed it... Ferrari’s first fully electric car was sold for a record $40mn, making it the most expensive new car ever auctioned despite a backlash over its design.
First unveiled in May, the Luce was sold by Sotheby’s to an unnamed buyer at Monterey Car Week, an annual event in California where rare classic cars and luxury vehicles are showcased, according to the auction house. The auctioned vehicle was a one-off, produced by Ferrari for its charitable arm. The Luce is designed by former Apple designer Sir Jony Ive, and a standard model is priced from €550,000. The Luce’s auction price, which far exceeded presale estimates of $1.1mn, sets a record for a new car, surpassing the $26mn paid for a one-off Ferrari Daytona SP3 at last year’s Monterey event. Ferrari’s first EV remains short of the record for any car sold at auction, which was set instead by a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé that sold for €135mn in 2022. The Italian luxury carmaker said the sale was an “outstanding result” and that all proceeds would benefit its foundation’s educational programmes. Ferrari polarised fans and investors with the EV launch in May, with critics arguing that its five-seat, battery-powered design marked too sharp a departure from the luxury car maker’s traditional styling and eroded the marque’s identity. Ferrari’s shares have since fully recovered but they fell more than 8 per cent on the day after the Luce was unveiled. Source: FT
In the US, fear of rising prices is climbing toward record highs as the U.S. saving rate collapses to 2.6%.
Source: Hedgeye
Energy stocks are up by nearly 38% so far this year ... so far, that ranks as the third best year going back to 1990.
Source: Kevin Gordon Bloomberg
There is no more vol left to sell
Source: zerohedge Bloomberg
All the AI revenue is fake. Really?
Source: Lance Roberts The Daily Shot
Equity options on specific assets will begin trading at 7:15 ET starting this Monday (TODAY).
Here are the full requirements for eligibility for pre-market options trading: -the option class has an average daily volume of 150,000 contracts or higher -the underlying equity to the option has a $50 billion or higher market capitalization, and -the underlying equity to the option has an average daily traded volume of 10 million shares or higher. Source: Trend Spider
The 🇯🇵 Japanese 10 year yield just jumped to 2.93%.
Can the parabolic rise continue without hurting global bond markets and stocks? Source: Financelot
Donald Trump's net approval rating remains close to record low ahead of midterms
Nate Silver thru Christophe Barraud
