Check out Tesla’s Cybercab robotaxi

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how Tesla’s newest unveiling.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching

00:03on the street today. The Dow and the S&P 500 could once again reach new highs Friday. Wholesale

00:09inflation was flat in September, while prices were up 1.8 percent from a year ago. Earnings

00:15were also market friendly. Two of America's biggest banks, J.P. Morgan Chase and Wells

00:19Fargo, both topped quarterly estimates. In other news, Elon Musk finally let the world

00:25see the robo-taxi he's been talking about for years. And well, the early reviews are

00:30underwhelming. Ever the showman as well as one of the most successful entrepreneurs of

00:35our time, Musk used a Warner Brothers movie lot to show off a prototype of what is now

00:40being called the Cyber Cab. This version was a sleek silver two-seater without the familiar

00:45steering wheel or pedals of a traditional car. And that's where the criticism comes

00:51in. Tesla experts described the unveil as high on style and low on substance. For one

00:57thing there was no mention of artificial intelligence. In the few details that were offered, Musk

01:03plans to sell the Cyber Cab for less than $30,000, with planned production to start

01:08before 2027. Besides a lack of detail on how AI will be used in the car, experts point

01:14out that according to Musk's admission, the Cyber Cab may not be fully capable of autonomous

01:19driving when the first keys are handed over. Along those lines, Musk said the Tesla Model

01:253 and Model Y should have unsupervised, full self-driving capabilities in Texas and California

01:32sometime next year. Musk often exaggerates with his timelines. But he is a futurist.

01:40You can't take that away from him. He showed off a drink-mixing, dancing humanoid robot

01:45in a so-called robo-van. Both pointed to the future, but did little to answer this

01:50question. How is Musk going to stop his EVs from losing market share in the here and now?

01:58That'll do it for your daily briefing. From the New York Stock Exchange, I'm Conway Gittins

02:01with the Street.