Daily Briefing: In-depth Summary of Top 10 Headlines from Most Popular News
- Top 5 things to watch in markets in the week ahead: This week promises to be an eventful one for global markets. Investors should keep an eye on a variety of factors, including:
- Nonfarm payrolls: The U.S. employment report will be a significant event. Economists are expecting the economy to have added 200,000 jobs. This data is a key indicator of the health of the U.S. economy and can influence market trends and Federal Reserve policy decisions.
- Fed minutes: The minutes from the Federal Reserve’s latest meeting will be closely watched by investors. These minutes provide insights into the Fed’s views on the economy and potential future policy actions. Any hints about changes in monetary policy could impact markets.
- Second half gets underway: As we move into the second half of the year, investors will be looking at how markets are positioned and what the prospects are for the rest of the year. This includes assessing the impact of factors such as inflation, economic recovery from the pandemic, and central bank policies.
- RBA decision: The Reserve Bank of Australia’s decision on interest rates will be in focus. Central bank decisions can influence global financial markets, especially in countries like Australia, which is a significant exporter of commodities.
- China factory PMI: China’s factory Purchasing Managers’ Index (PMI) will be another key data point to watch. This index provides insights into the health of China’s manufacturing sector. Given China’s role as a major global economic player, this data can influence markets worldwide.
- Energy & precious metals – weekly review and outlook: The past week has seen a flurry of activity in the energy and precious metals sectors. Prices have been influenced by a variety of factors, including geopolitical tensions, supply and demand dynamics, and economic indicators. Looking ahead, the outlook for these sectors will depend on a number of factors. Key among these will be policy decisions from major economies, which could influence commodity prices.
- This week in tech: Meta’s meteoric Threads launch; Rivian’s auspicious week: The tech sector has seen some significant developments this week. Meta, the company formerly known as Facebook, has launched its new product, Threads, to much acclaim. Meanwhile, electric vehicle manufacturer Rivian has had a positive week, with several significant developments that could bode well for its future growth. These developments highlight the rapid pace of innovation in the tech sector.
- Yellen sees ‘progress’ in rocky US-China ties, expects more communication: US Treasury Secretary Janet Yellen has noted some progress in the often strained relationship between the US and China. She anticipates that there will be increased communication between the two nations in the future, which could lead to improved cooperation on a range of economic and policy issues. This could have significant implications for global markets, given the economic heft of both nations.
- Six dead in private jet crash outside Los Angeles: A tragic event has occurred outside Los Angeles, with a private jet crash resulting in six fatalities. The cause of the crash is currently under investigation. This incident serves as a stark reminder of the risks associated with air travel, even as advances in technology and safety protocols have made it safer than ever before.
- Russian, Turkish ministers talk after Turkey sends Ukrainian commanders home: High-level talks have taken place between Russian and Turkish ministers following Turkey’s decision to send Ukrainian commanders home. The discussions could have significant implications for the geopolitical situation in the region, particularly given the ongoing tensions between Russia and Ukraine. The outcome of these talks could influence the future direction of these tensions.
- Tesla, Ford, GM report hefty deliveries; shareholders vs. Rivian: This week in EVs: It’s been a big week in the electric vehicle (EV) industry. Major manufacturers Tesla, Ford, and GM have all reported significant delivery numbers, highlighting the growing demand for EVs. Meanwhile, Rivian has faced challenges from its shareholders, adding a note of discord to an otherwise positive week for the industry.
- Biden due to meet King Charles, PM Sunak during brief UK visit: US President Joe Biden is set to meet with the UK’s King Charles and Prime Minister Sunak during a brief visit to the UK. These meetings could have significant implications for US-UK relations, particularly in the post-Brexit era. They could also influence international policy on a range of issues, from trade to climate change.
- ‘Chinese storm’ looming over Europe’s EV sector, Renault chairman warns: The chairman of Renault has issued a stark warning about the future of the European electric vehicle sector. He has warned of a ‘Chinese storm’, referring to the increasing competition from Chinese EV manufacturers. This competition could disrupt the European market, potentially leading to a shake-up of the industry.
- Netanyahu bristles at protests as Israel’s judicial reform edges ahead: Former Israeli Prime Minister Netanyahu has expressed his displeasure at ongoing protests as the country’s judicial reform continues to progress. The reform could have significant implications for Israel’s legal system and political landscape, potentially leading to a shift in the balance of power.
Daily Briefing: Cryptocurrency
- Russian, Turkish ministers talk after Turkey sends Ukrainian commanders home Russian and Turkish ministers have engaged in discussions following Turkey’s decision to send Ukrainian commanders back home. This move could have significant implications for geopolitical relations and the commodities market, given the countries’ roles in global trade.
- Canadian port strike talks resume, supported by federal mediators Talks have resumed to resolve the Canadian port strike, with federal mediators stepping in to support the negotiations. The strike has disrupted the flow of commodities, and a resolution could stabilize supply chains and commodity prices.
- Energy & precious metals – weekly review and outlook The energy and precious metals sectors have seen significant activity over the past week. Market trends and developments in these sectors could influence commodity prices and investment strategies.
- Mexican Pemex estimates platform fire shut in 700,000 barrels of oil Mexican oil company Pemex estimates that a recent platform fire has resulted in the shutdown of 700,000 barrels of oil. This incident could impact oil prices and the broader energy market.
- UN aid chief to Russia: Don’t ‘chuck away’ Black Sea grain deal The UN aid chief has urged Russia not to discard a grain deal involving the Black Sea. The deal is crucial for global grain supply, and its disruption could affect grain prices and food security.
- Natural gas down 8% on week as U.S. weather models suggest mixed trends Natural gas prices have fallen by 8% over the past week, as U.S. weather models indicate mixed trends. Weather patterns play a significant role in natural gas demand and can influence prices.
- Gold clings to above $1,900 after softer June U.S. jobs report Gold prices have managed to stay above $1,900 following a softer U.S. jobs report for June. The jobs data could influence the Federal Reserve’s monetary policy decisions, which in turn can affect gold prices.
- Oil prices up 3% to 9-week high on supply concerns Oil prices have risen by 3% to a 9-week high due to supply concerns. Factors such as geopolitical tensions, production disruptions, and changes in demand can influence oil prices.
- Oil at month high; U.S. rate hike fears cooled somewhat by soft jobs report Oil prices have reached a monthly high, while fears of a U.S. rate hike have been somewhat eased by a softer jobs report. The interplay between oil prices and monetary policy can have wide-ranging effects on the economy and financial markets.
- Analysis-Peru copper miners say red tape snarling red metal production ramp-up Copper miners in Peru report that bureaucratic red tape is hindering the ramp-up of red metal production. This could potentially impact global copper supply and prices.
Daily Briefing: Stock Market News
- Israel stocks lower at close of trade; TA 35 down 1.23% Israeli stocks closed lower, with the TA 35 index down by 1.23%. This decline could be influenced by various factors, including economic indicators, geopolitical events, and corporate news.
- Saudi National Bank was denied taking 40% Credit Suisse stake -report The Saudi National Bank was reportedly denied in its attempt to acquire a 40% stake in Credit Suisse. This development could have implications for both institutions and the broader banking sector.
- European firms look for footing in China-U.S. spat, French execs say European companies are trying to navigate the ongoing tensions between China and the U.S., according to French executives. The geopolitical dispute could impact global trade and the operations of multinational corporations.
- Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.10% Saudi Arabian stocks closed higher, with the Tadawul All Share index up by 0.10%. The performance of Saudi stocks can be influenced by factors such as oil prices, economic developments, and regional politics.
- This week in tech: Meta’s meteoric Threads launch; Rivian’s auspicious week This week in tech saw the meteoric launch of Meta’s Threads and an auspicious week for electric vehicle manufacturer Rivian. These events highlight the dynamic nature of the tech sector and its potential for rapid innovation.
- Eramet in talks with European carmakers over Argentina lithium plan – CEO Eramet, a French multinational mining and metallurgy company, is reportedly in talks with European carmakers regarding a lithium plan in Argentina. The outcome of these discussions could impact the electric vehicle industry and the global lithium market.
- France upbeat on attracting major Tesla investment – Le Maire France is optimistic about attracting a significant investment from Tesla, according to French Finance Minister Bruno Le Maire. Such an investment could boost the country’s automotive industry and contribute to its economic growth.
- Tesla, Ford, GM report hefty deliveries; shareholders vs. Rivian: This week in EVs Tesla, Ford, and General Motors reported substantial vehicle deliveries this week, while Rivian faced pushback from shareholders. These events underscore the competitive and fast-paced nature of the electric vehicle market.
- ‘Chinese storm’ looming over Europe’s EV sector, Renault chairman warns The chairman of Renault has warned of a ‘Chinese storm’ looming over Europe’s electric vehicle sector. This refers to the potential impact of Chinese competition on European EV manufacturers.
- Suspended Twitter account tracking Elon Musk’s jet moves to rival Meta’s Threads A Twitter account that was tracking Elon Musk’s jet has been suspended and has moved to Meta’s Threads. This incident highlights the ongoing debates about privacy and data tracking in the tech industry.
Daily Briefing: Economic Indicators News
- Argentina inflation seen at 142% this year, down from previous poll Inflation in Argentina is projected to reach 142% this year, a decrease from previous estimates. This high inflation rate underscores the economic challenges facing the country.
- US bank credit rose last week, while commercial and industrial loans fell -Fed data According to Federal Reserve data, US bank credit increased last week, while commercial and industrial loans saw a decline. These trends provide insights into the health of the US economy and the lending behavior of banks.
- U.S. Black employment falls despite wider job market stability Despite overall stability in the job market, employment among Black Americans has fallen. This highlights the ongoing disparities in employment opportunities and outcomes among different racial and ethnic groups.
- US job gains smallest in 2-1/2 years; labor market still tight The US saw its smallest job gains in two and a half years, although the labor market remains tight. This could influence Federal Reserve policy decisions and the direction of the US economy.
- Job gains slow, but rising wages, low unemployment keep Fed hikes on track Job gains have slowed, but rising wages and low unemployment are keeping Federal Reserve rate hikes on track. These economic indicators will play a key role in shaping monetary policy.
- Canada posts strong job gains in June, raising odds of rate hike Canada posted strong job gains in June, increasing the likelihood of a rate hike. This positive employment data could signal a robust recovery for the Canadian economy.
- Instant View: June US jobs growth cooled, but wages won’t comfort Fed US jobs growth cooled in June, and rising wages are unlikely to comfort the Federal Reserve. The central bank will be closely monitoring these trends as it considers its monetary policy options.
- U.S. economy adds 209,000 jobs in June The US economy added 209,000 jobs in June, indicating continued recovery from the pandemic-induced downturn. This job growth could boost consumer spending and overall economic activity.
- Mexican inflation continues downward trend in June Inflation in Mexico continued its downward trend in June. This could ease cost pressures on consumers and businesses, and influence the country’s monetary policy.
- Taiwan June exports slump the most in 14 years on weak China, US demand Taiwan’s exports in June experienced their biggest slump in 14 years due to weak demand from China and the US. This could impact Taiwan’s economic growth and its trade balance.
Daily Briefing: Economy News
- Netanyahu bristles at protests as Israel’s judicial reform edges ahead Former Israeli Prime Minister Benjamin Netanyahu has shown discontent towards protests as the country’s judicial reform makes progress. The outcome of this reform could have significant implications for Israel’s political and legal landscape.
- For Hong Kong’s youth, government-backed hostels offer a smidgen of housing hope Government-backed hostels are providing a glimmer of hope for Hong Kong’s youth amidst the city’s housing crisis. These initiatives aim to alleviate the housing affordability issues that many young people in Hong Kong face.
- Business leaders left in limbo by rate hike impact lag The lag in the impact of rate hikes has left business leaders in a state of uncertainty. The timing and magnitude of rate hikes can significantly affect businesses, particularly in terms of borrowing costs and consumer spending.
- Yellen sees ‘progress’ in rocky US-China ties, expects more communication US Treasury Secretary Janet Yellen has noted progress in the tumultuous US-China relationship and anticipates increased communication. The dynamics of this relationship can have far-reaching effects on global economic and geopolitical affairs.
- As earnings loom, investors weigh recession resilience As earnings season approaches, investors are considering the resilience of companies to potential recessions. Companies’ earnings reports provide valuable insights into their financial health and their ability to withstand economic downturns.
- Top 5 things to watch in markets in the week ahead Market participants will be closely watching several key events and indicators in the week ahead. These could include economic data releases, corporate earnings reports, policy announcements, and geopolitical developments.
- French central bank head warns against raising ECB inflation target The head of the French central bank has warned against raising the European Central Bank’s inflation target. Changes to the inflation target could influence monetary policy decisions and economic conditions in the Eurozone.
- China sets wide-ranging rules for $2.9 trln private investment funds China has established comprehensive rules for its $2.9 trillion private investment funds sector. These rules could shape the operations of private investment funds and impact the broader financial market in China.
- Turkey aims to ensure fiscal discipline and lower budget deficit -Finance Minister Turkey’s Finance Minister has stated that the country aims to maintain fiscal discipline and reduce its budget deficit. These fiscal goals are crucial for Turkey’s economic stability and credibility in international markets.
- U.S. calls Pan Gongsheng China’s central bank ‘head’, suggesting unannounced promotion The US has referred to Pan Gongsheng as the head of China’s central bank, suggesting an unannounced promotion. Changes in the leadership of central banks can influence monetary policy and financial market dynamics.
Daily Briefing: World News
- Senior US diplomat to travel to Addis Ababa to discuss Sudan conflict A senior US diplomat is set to travel to Addis Ababa to discuss the ongoing conflict in Sudan. The outcome of these discussions could influence the international community’s response to the crisis.
- At least 300 migrants missing at sea near Spanish Canary Islands – aid group An aid group has reported that at least 300 migrants are missing at sea near the Spanish Canary Islands. This incident underscores the risks faced by migrants attempting to reach Europe and the need for comprehensive migration policies.
- Biden due to meet King Charles, PM Sunak during brief UK visit US President Joe Biden is scheduled to meet with King Charles and Prime Minister Rishi Sunak during a brief visit to the UK. These meetings could cover a range of bilateral and global issues.
- Pope Francis puts stamp on Church future with new cardinals Pope Francis has influenced the future of the Church by appointing new cardinals. These appointments could shape the Church’s direction and its response to various social and theological issues.
- US congressional Democrats raise concerns on cluster bombs for Ukraine US congressional Democrats have raised concerns about the provision of cluster bombs to Ukraine. The use of these weapons raises humanitarian and legal issues, given their potential to cause civilian casualties.
- Israel, Saudi normalization a long way off, Biden says US President Joe Biden has stated that the normalization of relations between Israel and Saudi Arabia is a long way off. This suggests that significant obstacles remain in the path towards improved ties between the two countries.
- Biden begins three-nation tour with stop in London President Biden has begun a three-nation tour with a stop in London. The tour could cover a range of issues, including international security, climate change, and economic cooperation.
- Republican 2024 hopeful DeSantis supports revoking China’s trade status Republican 2024 hopeful Ron DeSantis has expressed support for revoking China’s trade status. This stance could shape the US’s trade policy towards China and influence the 2024 presidential race.
- FARC dissidents and Colombian government reach agreement to begin peace talks Dissidents from the Revolutionary Armed Forces of Colombia (FARC) and the Colombian government have reached an agreement to start peace talks. This development could mark a significant step towards ending the country’s longstanding conflict.
- US central command says it killed ISIS leader in Eastern Syria The US central command has announced that it killed an ISIS leader in Eastern Syria. This operation forms part of the international efforts to combat terrorism and promote regional stability.
Daily Briefing: Politics News
- Top US-China exchanges since Biden took office There have been several significant exchanges between the US and China since President Biden took office. These interactions could shape the bilateral relationship and have implications for global politics and economics.
- California governor to stop fighting against parole for Manson follower The Governor of California has decided to stop opposing parole for a follower of Charles Manson. This decision could stir debate about the parole system and the treatment of individuals involved in high-profile crimes.
- Biden says US destroys last of chemical weapons stockpile President Biden has announced that the US has destroyed the last of its chemical weapons stockpile. This development marks a significant milestone in the global efforts to eliminate chemical weapons.
- Idaho sued over bill restricting trans students’ restroom use Idaho is facing a lawsuit over a bill that restricts the use of restrooms by transgender students. This legal challenge highlights the ongoing debates about transgender rights and discrimination.
- Biden says decision to provide cluster munitions to Ukraine was difficult -CNN interview In a CNN interview, President Biden stated that the decision to provide cluster munitions to Ukraine was a difficult one. This decision could have significant humanitarian and geopolitical implications.
- Senate banking panel to vote on Fed nominees Wednesday The Senate banking panel is set to vote on Federal Reserve nominees on Wednesday. The outcome of this vote could influence the composition of the Federal Reserve and its future policy decisions.
- Giuliani should be disbarred over 2020 election case, ethics panel finds An ethics panel has found that Rudy Giuliani should be disbarred over his handling of the 2020 election case. This finding could have significant consequences for Giuliani and stir debate about legal ethics and professional conduct.
- White House says no clear answer on how to return WSJ reporter detained in Russia The White House has stated that there is no clear answer on how to secure the return of a Wall Street Journal reporter detained in Russia. This situation underscores the challenges of protecting press freedom and the rights of journalists in different countries.
- Biden: U.S. jobs report shows ‘Bidenomics in action’ President Biden has stated that the latest US jobs report demonstrates ‘Bidenomics in action’. This statement reflects the administration’s economic policies and their impact on the job market.
- US state attorneys general clash over EPA emissions plan State attorneys general in the US are clashing over the Environmental Protection Agency’s emissions plan. This dispute could shape the country’s environmental policies and its efforts to combat climate change.