misty energy
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Iranian President’s Oil Watch confirmed dead; Saudi King was treated for a lung infection. (00:28) china sanctions Boeing (BA) unit and two other U.S. defense companies fought over Taiwanese arms sales. (01:39) Approved by Minnesota State Legislature minimum wage Contracts for Uber and Lyft drivers. (03:06)
This is a summary transcript of the podcast.
Oil prices are in the spotlight after it was confirmed that Iran’s president died in a helicopter crash.
Iranian President Ebrahim Raisi, Foreign Minister Hossein Amirabdollahian and other government officials found dead after a helicopter crash early Monday morning. Near the Azerbaijan border. The cause of the crash is unknown. Iranian Vice President Mohammad Mokber will serve as acting president.
Raishi has been around for a long time. successor candidate In 2021, he became Supreme Leader Ayatollah Khamenei. During his term, Iran’s nuclear program accelerated and its relations with Russia and China strengthened.
In other news, Saudi Arabia’s Crown Prince Mohammed bin Salman has postponed a four-day visit to Japan due to King Salman’s medical treatment. for lung inflammation. The trip was scheduled to begin on Monday.
Crude oil futures fell slightly early Monday, with last month’s Nymex crude oil (CL1:COM) June delivery fell 0.3% to $79.83/bbl, compared with the previous month’s July Brent crude (CO1:COM) fell 0.1% to $83.91 per barrel.
“The developments in Iran and Saudi Arabia have so far had a limited impact on the market,” said Francesco Pesole, foreign exchange strategist at ING.
On the day of the presidential inauguration, China imposed sanctions on three US defense companies over arms sales to Taiwan.
The Boeing Company (NYSE:BA) General Dynamics, Defense, Space and Security Division (NYSE:GD) land systems, General Atomics air systems are all certified.
China’s Ministry of Commerce announced on Monday that it had added three companies to its “list.”untrusted entity”, banning China-related import and export activities and new investments in the country.
“Such measures are taken to protect China’s national sovereignty, security and development interests,” the ministry said, state news agency Xinhua reported.
“The move will also ban the executives from entering China and revoke their work permits and existing visas.” Added.
The move comes shortly after Taiwan swore in Lai Ching-de as its new president. Mr. Lai (popularly known by his English name William) has pledged to maintain strong military ties with the United States and strengthen Taiwan’s security through the import of advanced fighter jets.
China labeled Lai a “dangerous separatist” and warned he would bring “war and decline” to the island.
The move is the latest in a series of sanctions imposed by the Chinese government on defense contractors for providing weapons to Taiwan, an autonomous island that China claims as its own territory.
Lockheed Martin (LMT) and a subsidiary of Raytheon Technologies (RXT) was added to the “Untrusted Companies” list in early 2023. In 2022, China imposed sanctions on Boeing CEO Ted Colbert (BA) Defense, Space and Security.
Minnesota lawmakers reportedly struck a deal with Uber (NYSE:Uber) and Lyft (NASDAQ:lift) establish minimum wage standards for drivers;
Uber (Uber) and Lyft (lift) had He threatened to withdraw his business from Minnesota. Regarding a proposed ordinance that would strengthen worker protections for rideshare drivers.
Under the new agreement, the statewide minimum wage for rideshare drivers will be $1.28 per mile and $0.31 per minute. The rule would override a higher tax rate originally proposed by the Minneapolis City Council. CNN reported.
“If you look at this as a mixed rate, it looks like this: 20% increase in salary For Minnesota drivers,” Democratic House Majority Leader Jamie Long told reporters Saturday night, according to CNN.
The bill also includes “the strongest insurance provisions for motorists in the nation,” Long added.
If the bill becomes law, the new fees would go into effect in January next year.
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Microsoft will host a showcase of new Surface hardware and AI in Windows 11 ahead of its Build event the next day.
Norwegian Cruise Line Holdings (NCLH) will hold its 2024 Investor Day at the New York Stock Exchange. The event will feature a presentation and Q&A with President and CEO Harry Sommer and other members of the company’s senior leadership team.
4 days of Dell Technologies (Dell) The world event begins at The Venetian in Las Vegas.
The four-day Advanced Clean Transportation Expo begins at the Las Vegas Convention Center. rider(R) CEO Robert Sanchez was the keynote speaker, and Nicola (N.K.L.A.) will be showcasing the purpose-built Nikola zero-emissions Class 8 truck. Other companies showing off electric and fuel cell trucks include Cummins (CMI), Daimler Trucks (OTCPK:DTRUY), Ford (F), General Motors (GM), green power motor (GP),Honda(HMC), Hizon Motors (Hisun), Lion Electric (LEV), Rivian Automotive (Riven), Stellantis (STLA), and main group (Wikipedia). Tesla is also scheduled to appear at a conference, which is rare for Tesla.TSLA) and interesting presence with BYD trucks (OTCPK:BYDDF).
US stocks ended mixed on Friday.
S&P (SP500) rose 0.12%. Nasdaq (Comp:IND) fell 0.07%.
Dow(DJI) rose 0.34% to close at 40,004.35 points.On Thursday, the Dow briefly Beyond It reached the 40,000 point mark for the first time in history, but then fell back and finished just below the mark.
Eight of the S&P’s 11 sectors finished in the green.
This week’s Dow (DJI) +1.24% up, S&P (SP500) added 1.54%, while the Nasdaq (Comp:IND) increased by 2.11%.
Now let’s take a look at the market price as of 6am. Dow, S&P, and Nasdaq futures are mixed ahead of today’s opening bell. Crude oil fell 0.3% to more than $79 per barrel. Bitcoin fell 0.4% to over $66,000.
In global markets, the FTSE 100 rose 0.2% and the DAX rose 0.3%. Indian markets are closed due to elections.
of the biggest mover Day-ahead market: Li Auto (NASDAQ:Lee) fell 4.3% as both sales and bottom line missed consensus estimates, despite the Chinese EV maker achieving 36% year-over-year growth in sales and nearly 53% growth in deliveries. did.
Today’s economic calendar:
At 9 a.m., the Federal Reserve’s Christopher Waller will deliver welcome remarks to the third conference on the international role of the U.S. dollar in Washington, D.C.
At 9 a.m., the Fed’s Michael Barr will speak at the 2024 Market Conference in Northeast Florida.
At 10:30 a.m., Fed’s Philip Jefferson will speak at the Mortgage Bankers Association conference in New York. The themes are the US economic outlook and housing price trends.
