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Stellantis (STLA) shares jolted higher by $13B investment in U.S. manufacturing. (00:23) Netflix (NFLX) to carry video podcasts under new tie-up with Spotify (SPOT). (01:40) JPMorgan CEO Jamie Dimon says it’s ‘semi-rational’ to own gold. (02:55)
This is an abridged transcript.
Stellantis (NYSE:STLA) announced plans to invest $13B over the next four years to expand its manufacturing capabilities in the U.S., the largest in the company’s history.
The investment will also facilitate the production of five new vehicles.
By expanding production at several existing plants, Stellantis (NYSE:STLA) intends to increase production by 50% over current levels and add 19 refreshed products and updated powertrains planned through 2029.
As part of the $13B investment, Stellantis (NYSE:STLA) will increase research and development and supplier costs to execute its full product strategy over the next four years.
The plan includes $600 million to reopen the Belvidere Assembly Plant to expand Jeep output, $400 million to upgrade the Toledo Assembly Complex for Wrangler and Gladiator production, new funding for the Warren Truck plant to build an all-new range-extended EV and ICE SUV, and additional investment in Kokomo, Indiana, to produce the GMET4 EVO engine.
Besides increasing production, the investment in the U.S. will help mitigate as much as $1.74B in tariff costs on affected vehicles and components.
STLA is up 0.4% in premarket action after closing more than 2.5% lower on Tuesday. At one point it was up as much as 5% premarket.
The CEO of JPMorgan Chase (JPM) said he sees some logic in holding gold.
Jamie Dimon said, “I’m not a gold buyer — it costs 4% to own it.” He said, “….it could easily go to $5,000 or even $10,000 in environments like this.” He went on to say, “This is one of the few times in my life it’s semi-rational to have some in your portfolio.”
Gold (XAUUSD:CUR), which traded below $2,000 an ounce just two years ago, has now climbed nearly 58% year-to-date, topping $4,200 as of the time of this recording.
The metal has outperformed equities over the past two decades, buoyed by investor demand for safe-haven assets amid rising inflation and geopolitical tension.
Adding to the bullish sentiment, Bank of America’s October Fund Manager Survey found that “being long gold (XAUUSD:CUR)” has become the most crowded trade globally, according to 43% of fund managers. The position narrowly overtook the “Magnificent Seven” tech trade, which came in second at 39%.
And Citadel founder Ken Griffin, who said investors are increasingly viewing gold as safer than the U.S. dollar, calling the trend “really concerning.”
Netflix (NASDAQ:NFLX) is teaming up with Spotify (NYSE:SPOT) to bring select video podcasts onto its platform.
As part of the agreement, shows like The Bill Simmons Podcast, The Zach Lowe Show, The McShay Show, The Rewatchables, and Conspiracy Theories, among many others, will be available to watch on Netflix (NASDAQ:NFLX).
The video podcasts will be available on Netflix in the U.S. in early 2026, with other markets to follow.
The financial terms of the partnership were not disclosed.
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Brown-Forman Corporation (BF.A) (BF.B) will host an investor conference in Nashville, Tennessee. The event will feature a live webcast of presentations by members of the company’s executive leadership team and Jack Daniel’s leaders focused on the Jack Daniel’s Family of Brands’ strategic priorities and long-term growth.
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Dollar Tree (DLTR) will hold its Investor Day event.
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Hewlett Packard Enterprise (HPE) will hold an analyst meeting to review the company’s strategy and long-term financial outlook.
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Salesforce (CRM) will hold an Investor Day as part of its Dreamforce conference.
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The NACS Show Expo will begin. The gathering is considered the premier annual event for the convenience and fuel retailing industry. Companies showing off new products include Mars Wrigley, General Mills (GIS), Molson Coors Beverage Company (TAP), Hershey (HSY), and Mondelez International (MDLZ).
Dow, S&P and Nasdaq futures are in the green. Crude oil is flat at $58/barrel. Bitcoin is down 0.5% at $112,000.
The FTSE 100 is down 0.25% and the DAX is up 0.2 %.
The biggest movers for the day premarket: Veritone (NASDAQ:VERI) +54% – Shares soared after announcing major contracts with leading hyperscalers for its Veritone Data Refinery platform, boosting total bookings and pipeline to nearly $40M.
On today’s economic calendar:
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9:30 am Federal Reserve Board Governor Stephen Miran will participate in conversation before the CNBC Invest in America Forum.
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1:00 pm Federal Reserve Board Governor Christopher Waller will speak on artificial intelligence before the 2025 DC Fintech Week event.
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1:35 pm Kansas City Federal Reserve Bank President Jeffrey Schmid will speak on monetary policy, the outlook and the Federal Reserve at an event hosted by the Federal Reserve Bank of Kansas City’s Omaha branch.
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2:00 pm This book is produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee. On each occasion, a different Fed district bank compiles anecdotal evidence on economic conditions from each of the 12 Federal Reserve districts.