Lucid CEO Marc Winterhoff acknowledges challenges in ramping up production of the Gravity SUV. The company expects to produce 18,000 to 20,000 EVs in 2025, with 6,075 vehicles produced in the first half of the year. Winterhoff plans to counter demand fluctuations with incentives, potentially impacting profitability. Lucid reported Q2 revenue of $259.4 million, an adjusted loss of $0.24 per share, and ended the quarter with $4.86 billion in total liquidity. The company also announced partnerships with Uber and access to Tesla’s Supercharger network. Lucid plans a 10-to-1 reverse stock split later this year. 1. The stock market hit record highs today, with the S&P 500 reaching 3,000 points for the first time. Analysts attribute the surge to positive economic data and hopes of a trade deal with China. The Nasdaq also saw gains, closing at 8,000 points.

2. A new study found that 70% of Americans are not saving enough for retirement. The report highlighted the importance of starting to save early and consistently. With Social Security facing uncertainty, experts recommend increasing contributions to retirement accounts.

3. The latest job report revealed that the unemployment rate has dropped to 3.5%, the lowest in 50 years. The economy added 136,000 jobs in September, slightly below expectations. Despite concerns about a global economic slowdown, the U.S. job market remains strong.

Read more at Yahoo Finance: ‘Not where we want to be’ with Gravity SUV ramp; ‘volume’ will eventually solve profitability issues