• US imposed new sanctions on Russian oil trade on Jan 10, 2025
• Global diesel prices and refining margins increased after sanctions
• At least 150,000 barrels per day of Russian diesel exports are at risk
• ExxonMobil leads US shale production rankings in 2024
• Top 10 US public onshore producers now account for 62% of production among Top 50
Browsing: Finance
• China’s GDP grew 5.4% in Q4 2024, exceeding expectations of 5.0%
• Full-year 2024 growth reached 5.0%, above forecasts of 4.9%
• Chinese exports to US hit $48.8B in December 2024, up 16% year-over-year
• Trump plans new tariffs on Chinese goods, potentially up to 60-100%
• Traders rushing to beat potential tariff implementation after inauguration
• UnitedHealth reported weaker-than-expected Q4 2024 revenue
• CEO Andrew Witty addressed the murder of UnitedHealthcare CEO Brian Thompson
• Witty cited high medical service prices as root cause of healthcare problems
• Company wants healthcare to be less confusing, complex, and costly
• CEO highlighted price disparities, noting US anti-obesity drugs cost 10x more than in Europe
TLDR Swiss digital asset bank Sygnum has achieved unicorn status following a $58M funding round The funding was led by…
• California insurers declined to renew 2.8M homeowner policies between 2020-2022
• Economic losses from recent LA fires estimated at $135 billion
• Many insurance companies are dropping coverage or refusing new policies
• The state’s FAIR Plan (insurer of last resort) faces potential funding shortages
• Insurance costs are rising dramatically for California homeowners
• Medicare spent nearly $50 billion in 2022 on 25 high-cost drugs including Ozempic and Trulicity
• Drug prices have almost doubled since market introduction
• Nearly 24 million people enrolled in ACA plans for 2025
• ACA enrollment doubled compared to Trump administration numbers
• Enhanced federal premium subsidies will expire end of 2025
• Markets showed mixed performance with S&P 500 up 0.2% and Dow up 0.3%
• Federal Reserve minutes revealed ongoing inflation concerns
• Bitcoin price declined 3%, staying below $100,000
• Stock markets will close on January 9 for Jimmy Carter national day of mourning
• Bond markets will operate reduced hours, closing at 2 p.m. ET on January 9
• National Day of Mourning for Jimmy Carter set for January 9, 2024
• Stock markets (NYSE and Nasdaq) will be fully closed
• Bond markets will close early at 2 PM ET
• Flags to fly at half-staff for 30 days
• President Biden will deliver eulogy at Washington National Cathedral
TLDR: The British pound reached its strongest position against the euro since March 2022, rising 0.3% to 0.8249 per euro…
TLDR: Fed expects headline inflation to rise to 2.7% annually in November, up from 2.6% in October, with core inflation…
TLDR: Bank of England Governor Andrew Bailey indicates four quarter-point interest rate cuts are likely in 2024, with inflation falling…
TLDR: Meta is seeking 1-4 gigawatts of nuclear reactor capacity for its data centers, starting in early 2030s The company…
TLDR: Wells Fargo sets highest Wall Street S&P 500 target of 7,007 for 2025, predicting 26% rise Multiple strategists expect…
TLDR: President Yoon Suk Yeol briefly imposed martial law in South Korea, leading to opposition parties filing an impeachment motion…
TLDR: Japan allocates ¥1.5 trillion ($9.9 billion) for chip and AI development in extra budget ¥1.05 trillion earmarked for next-gen…
TLDR: S&P 500 had an unexpected banner year in 2024, with gains over 20% despite initial concerns about economic downturn…
TLDR: US equity futures gained as Trump’s Treasury pick signals pragmatic approach to tariffs Dollar experienced biggest weekly decline in…
TLDR: Trump names Scott Bessent as Treasury Secretary, causing Dow futures to hit record high with 0.68% increase Bessent is…
TLDR: Goldman’s Scott Rubner predicts S&P 500 will reach 6,200 points in year-end rally starting this week US equities saw…
TLDR: Global markets experiencing sharpest decline since August following Trump’s election win Non-US MSCI index fell 1.6%, with European stocks…
TLDR: Fed cut interest rates by 0.25 percentage points to 4.5%-4.75% range This is the second rate cut of 2024,…
TLDR: Powell firmly states Trump cannot legally fire him from Fed Chair position Trump’s senior adviser indicates Trump may let…
TLDR Nvidia overtakes Apple as world’s most valuable company at $3.43T Company stock up 850%+ since late 2022 AI-linked cryptocurrencies…
TLDR: Fed’s independence at stake in 2024 election with multiple positions to be filled Trump signals potential for deeper disruption…