⚡️After The US dockers Strike, It Will Take Up To A Week For The Supply Chain To Normalize

⏺Union dockworkers suspended their strike at East Coast and Gulf Coast ports Thursday night, Oct. 3, until mid-January. But it will take some time for the affected ports to return to normal operations due to the problems that have accumulated during the strike.

⏺The International Longshoremen's Association (ILA) and about 45,000 longshore workers went on strike for about three days before reaching a tentative agreement with the United States Maritime Alliance (USMX), which represents the interests of port employers. The deal, which must be ratified by both sides by January 15, includes a 62% wage increase for dockers.

⏺While negotiations are ongoing, port operators and dockworkers will begin the process of clearing the impact of the strike at East Coast and Gulf Coast ports as they work through delayed cargo, which will likely take several weeks before the supply chain returns to normal.

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☄️EU Will Impose Duties Of Up To 45% On Electric Cars From China

⏺EU member states agreed on Friday to impose tariffs on imports of electric vehicles from China. The decision was the biggest trade dispute between economic superpowers in a decade.

⏺Despite active opposition from Germany and Hungary, the European Commission's proposal to establish anti-subsidy duties of up to 35.3% was supported by the majority of countries. Ten member states voted in favor of the tariffs, five voted against and 12 abstained, two of the sources said.

⏺EU tariffs will be in place for five years and will range from 7.8% for Tesla to 35.3% for SAIC, which owns the MG brand. Chinese automakers have proposed curbing sales and raising prices to avoid tariffs, but the proposal has been rejected by the EU. Brussels said it would continue talks aimed at a negotiated settlement to curb rising imports of Chinese electric vehicles.

⏺China has already retaliated by threatening to impose tariffs on EU brandy imports and has also launched investigations into pork and dairy products.

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☄️Analysts At JPMorgan And BofA Have Changed Their Forecasts For The Fed Rate

⏺Economists at the American banks JPMorgan and Bank of America changed their forecasts for easing the monetary policy of the US Federal Reserve after the published data on the labor market in the country for September.

⏺Analysts at both banks believe that the Fed will cut interest rates by 0.25 percentage points at its next meeting in November, not 0.5 percentage points as they previously expected. Michael Feroli, chief U.S. economist at JPMorgan, and Bank of America economist Aditya Bhave pointed to Friday's jobs report as a boost to temper expectations about the path to rate cuts.

⏺At the end of September, the number of jobs in the non-farm sector increased by 254,000. At the same time, the consensus forecast was at 140,000. Experts believe that these data indicate the stability of the US economy, and a reduction of half a point looks inappropriate.

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⚡️Brent Crude Rose Almost 10% Amid Escalation In The Middle East

⏺Brent, the global oil benchmark, traded just below $79 a barrel on Friday, up nearly 10% from the previous Friday on a strong four-day rally. The rise in prices comes as conflict in the Middle East escalates, raising concerns about the stability of supplies from a region that produces a third of the world's oil.

⏺Concerns about disruptions in oil supplies from Iran and through the Strait of Hormuz contributed to Brent's biggest weekly rise since October 2022. Analysts and traders fear that Israel could strike oil infrastructure, and Iran and its allies would retaliate with attacks on energy facilities in the region.

⏺OPEC+ holds more than 5 million barrels per day outside the market, which could be used in case of disruptions. The most significant supply disruption could occur if Iran decides to block tanker traffic through the Strait of Hormuz, through which about a fifth of the world's oil supplies pass.

⏺A complete blockage of the strait could lead to "unmanageable oil prices" of $150 a barrel or higher. This could have a significant impact on the global economy, analysts warn

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traditionalapothecary

August 12, 2024, 21:16

The mini Samhain earring collection is now available. 2 pairs of Skullies & 2 pairs of Samhain Crows. 🪡⚡️

I won’t have time closer to the season and simply cannot skip out on the opportunity to be festive. Never too early to get in the mood for the season!

SHOP HERE

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⚡️Goldman Expert Expects Rally In US Market From The End Of October

⏺U.S. stocks are likely headed for a year-end rally that could push the S&P 500 above 6,000, said Scott Rubner of Goldman Sachs Group Inc.
He's bullish on U.S. equities for the year-end rally that begins Oct. 28 and is concerned his 6,000-point target is too low

⏺The expert pointed to seasonal factors - as his calculations show, since 1928, the S&P 500 has tended to grow by an average of about 4% from October 27 to the end of the year. On top of this, stocks tend to rise after US presidential elections as investors switch from cash to stocks after the risks associated with the vote fade.

⏺The bank's tactical specialist Rubner's year-end target differs from the 5,600 estimate from Goldman Sachs chief U.S. equity strategist David Kostin. On Wednesday, the index was trading at around 5,700

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traditionalapothecary

August 8, 2024, 18:25

Custom toiletry bag made from new and salvaged materials. The interior is embossed vinyl for easy cleaning.

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EU Indices Face Serious Risks, Including From US Elections

⏺Goldman Sachs and BlackRock warn that the rally in European stocks faces serious headwinds. Fund managers are feeling pressure from worsening earnings forecasts and the upcoming US election. But the opinion on the impact of China's stimulating policies on economic growth is ambiguous

⏺European stocks face a number of headwinds to continued gains in 2024 after hitting another record high last week.

⏺Investors should be prepared for increasing risks associated with the region's weak economy and its impact on corporate earnings. The US elections add an additional layer of uncertainty, warn financial managers at Goldman Sachs Group Inc. and BlackRock Inc.

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⚡️Powell Indicated Further, Smaller Rate Cuts

⏺Fed Chairman Jerome Powell pointed to a further, more minor rate cut and called for attention to the fact that the regulator is not adhering to any given course. The Fed chairman also stressed that the recent half-percentage-point interest rate cut should not be interpreted as a sign that further steps will be as aggressive. In fact, this indicates that the next steps will be smaller, the head of the US Central Bank assured.

⏺At the same time, Powell expressed confidence in the strength of the US economy and believes that inflation continues to decline. He stressed that he and his colleagues will seek to balance lower inflation with support for the labor market and will allow data to guide future actions.

⏺He said that if economic data remains stable, there will likely be two more rate cuts this year, but in smaller increments of a quarter of a percentage point. This contradicts market expectations for more aggressive easing.

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🗓 Coming Up Next Week

Monday 30.09
⏺China Composite PMI
⏺UK GDP
⏺Germany CPI
⏺FED Powell Speech

Tuesday 01.10
⏺China - Markets Closed
⏺US, Japan, Germany, UK, Eurozone PMIs
⏺Eurozone CPI

Wednesday 02.10
⏺China - Markets Closed
⏺US ADP Nonfarm Employment

Thursday 03.10
⏺China - Markets Closed
⏺Japan, Australia, Germany, UK, Eurozone PMIs
⏺US Services PMI

Friday 04.10
⏺China - Markets Closed
⏺US Nonfarm Payrolls

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