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- Automakers Challenge California's EV Plan ⚡
Automakers Challenge California's EV Plan ⚡
Ryan Serkes
April 29, 2025
The
Daily Trade
Hey Daily Traders,
Major automakers are challenging California's plan to phase out gasoline-only vehicles by 2035, citing concerns over sales targets and consumer impact. As Congress prepares to vote on potentially revoking California's waiver, this debate underscores the ongoing tension between environmental objectives and industry capabilities.
Meanwhile, Toledo, Ohio, has emerged as the top market in the Spring 2025 Housing Market Ranking, highlighting the growing demand for affordable housing. This trend reflects a broader shift as regions with balanced affordability and quality of life gain attention amid rising home prices.
Here's what's happening today:
- 🚗 Automakers challenge California's electric vehicle mandate.
- 🏠 Toledo tops Spring 2025 Housing Market Ranking.
- 🔋 Flotek expands into mobile power generation.
- 🌍 California becomes world's fourth-largest economy.
- 🇨🇳 US-China trade tensions force global alliances.
Question
Do you think California's push for electric vehicles by 2035 will ultimately benefit consumers, or will it create more challenges in terms of vehicle availability and pricing?
Reply to this email with your answer
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Stock Market  Major automakers are urging Congress to block California's ambitious plan to phase out gasoline-only vehicles by 2035. The plan, which has been adopted by 11 other states, aims to mandate at least 80% electric vehicles by 2035. Automakers argue that the current sales targets are unattainable and could lead to reduced vehicle availability and increased prices for consumers. The U.S. House of Representatives is set to vote on legislation to repeal the waiver granted by the U.S. Environmental Protection Agency, which allows California to implement these mandates. California's regulations are seen as crucial for reducing greenhouse gas emissions and cutting smog-forming pollutants. However, with the auto industry warning of significant impacts on vehicle supply and consumer choice, the debate highlights the tension between environmental goals and industry capabilities. The potential revocation of the waiver using the Congressional Review Act remains a contentious issue, as it could set a precedent for state-level environmental regulation and its influence on national policy. Key Takeaway
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Real Estate The Wall Street Journal and Realtor.com® have released their Spring 2025 Housing Market Ranking, with Toledo, Ohio, emerging as the top market in the United States. The ranking evaluates key housing market data, economic vitality, and lifestyle metrics to identify emerging markets with high quality of life and potential for home price appreciation. This quarter's ranking highlights the growing demand for affordable housing, particularly in the Midwest, as rising home prices continue to affect first-time and lower-budget buyers. The ranking considers various indicators, including real estate demand, supply, median listing price trends, and economic health. Toledo's top position reflects its balance of affordability and quality of life, making it an attractive option for homebuyers. As affordability becomes a critical factor in the housing market, regions like Toledo are gaining attention for their potential to offer both economic stability and lifestyle benefits. Key Takeaway
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Stock Market Flotek Industries has announced a significant expansion into the mobile power generation sector with the acquisition of power generation assets from ProFrac Holding Corp. for $105 million. This strategic move includes a multi-year lease agreement, providing Flotek with a $160 million revenue backlog and immediate earnings accretion. The acquired assets feature advanced technologies for real-time gas monitoring and dual fuel optimization, enhancing Flotek's capabilities in remote power generation applications. This acquisition aligns with Flotek's strategy to diversify its offerings and strengthen its Data Analytics segment. The company anticipates a substantial increase in high-margin rental revenue, positioning itself for growth in the rapidly expanding mobile power generation market. The move is expected to provide stable cash flow and enhance shareholder value while maintaining a low leverage profile. Key Takeaway
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Real Estate  California has officially become the world's fourth-largest economy, surpassing Japan, according to preliminary estimates of nominal GDP for 2024. Governor Gavin Newsom highlighted the state's economic growth and strength in sectors such as agriculture, high-tech, and manufacturing as key factors contributing to this milestone. California's economy grew by 6% in 2024, outpacing the growth rates of the world's top three economies: the United States, China, and Germany. While Governor Newsom celebrates California's economic achievements, experts note that the state's ranking is partly due to slower growth in Japan and Germany. Despite this, California's focus on sustainability and innovation continues to drive its economic success. The state's economic performance underscores the importance of strategic investments in key industries and the potential impact of global economic shifts on regional economies. Key Takeaway
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Stock Market  The ongoing trade tensions between the United States and China are forcing countries to align with one of the two economic giants. As President Donald Trump's trade policies continue to impose high tariffs on Chinese goods, nations are reassessing their economic partnerships. While some countries are strengthening ties with China to hedge against U.S. tariffs, others are negotiating with the U.S. to avoid economic repercussions. China is actively engaging with countries worldwide to expand its influence and secure trade deals, positioning itself as a stabilizing force amid global economic uncertainty. The geopolitical landscape is shifting as countries navigate the complexities of aligning with either the U.S. or China. This situation highlights the broader implications of trade wars on global economic alliances and the strategic decisions nations must make in response to these tensions. Key Takeaway
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Today's Technical Analysis
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Hold | ULTOSC Sell | STOCH Sell |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Hold |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Hold |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Hold | STOCH Hold |
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Technical Indicator Information
Relative Strength Index (RSI) | Period: 14 days | Overvalued threshold: 70 | Undervalued threshold: 30
Money Flow Index (MFI) | Period: 14 days | Overvalued threshold: 80 | Undervalued threshold: 20
Williams Percent Range (WillR) | Period: 14 days | Overvalued threshold: -20 | Undervalued threshold: -80
Aroon Oscillator (AO) | Period: 14 days | Overvalued threshold: 75 | Undervalued threshold: -75
Moving Average Convergence/Divergence (MACD) | Period: 26/12/9 days | Overvalued threshold: MACD crosses below MACD Signal | Undervalued threshold: MACD crosses above MACD Signal
Stochastic Oscillator (STOCH) | Period: 14/3/3 days | Overvalued threshold: %K crosses below %D above 80 | Undervalued threshold: %K crosses above %D below 20
Commodity Channel Index (CCI) | Period: 20 days | Overvalued threshold: 100 | Undervalued threshold: -100
Bollinger Bands (BBANDS) | Period: 20 days | Overvalued threshold: price >= upper band | Undervalued threshold: price <= lower band
Parabolic Stop and Reverse (SAR) | Period: variable 50 - 100 days | Overvalued threshold: SAR crosses above price | Undervalued threshold: SAR crosses below price
Triple Exponential Average (TRIX) | Period: 15 days | Overvalued threshold: TRIX crosses below 0 | Undervalued threshold: TRIX crosses above 0
Ultimate Oscillator (ULTOSC) | Period: 28/14/7 days | Overvalued threshold: 70 | Undervalued threshold: 30
Directional Movement Index (DMI) | Period: 14 days | Overvalued threshold: PlusDI crosses below MinusDI | Undervalued threshold: PlusDI crosses above MinusDI
Average Directional Index (ADX) | Period: variable 14 days | Requirement: >= 25
Analysis is only performed on securities with market caps in excess of $100 million and with daily trade volume in excess of $50 million.
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