Wednesday, December 11, 2024
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Monday’s Stock Market Opening

The following news items are the most crucial for investors to know as they begin their trading day:

1. Feeling disoriented

As a full-fledged war broke out between Israel and Palestine on Saturday (more on that below), investors were uneasy, and stock futures were lower Monday morning as a result. The energy market may be affected by the escalating geopolitical unrest, which could cause even more volatility in a market that is already experiencing its fair share of worries about rising inflation and interest rates.

2. The Israel-Hamas conflict

After Hamas, a terrorist group, launched a surprise offensive early on Saturday morning, Israel is in shock at the bloodiest attack it has endured in fifty years. Operation Al Aqsa Flood, as it is known by Hamas, has claimed the lives of over 700 Israelis, and Israeli strikes in retaliation have claimed at least 490 Palestinian lives in the Gaza Strip. More than 1,200 people have died overall, including visitors.

3. A second UAW strike

Members of the United Auto Workers who work for Mack Trucks, a Volvo Group company, are joining their coworkers on the picket line. A vote to strike was approved by almost 3,900 workers after they rejected a tentative agreement on Sunday. Although they are represented by a separate branch of the union than the UAW members who work for GM, Ford, and Stellantis, the employees expected to receive the same raises and benefits as their union counterparts at the Detroit automakers. The Detroit automakers currently have more than 25,000 workers on strike.

4. The outlook for oil

Is the era of fossil fuels ending? Or is there a boom in demand for oil that will necessitate massive investment? Answers from two energy goliaths are divergent. On Monday, OPEC increased its medium- and long-term predictions for the world’s oil demand, stating that the sector will require $14 trillion in investment to keep up with the rise.

5. Mexican alcohol

A lighter (beer) note: American consumers are drinking more Mexican alcoholic beverages than ever before. Thanks in part to savvy marketing, shifting consumer preferences, and the expanding Hispanic population in the U.S., Mexico’s premium beers and agave-based spirits find their biggest market in the U.S. Tequila and mezcal, two indigenous Mexican agave-based spirits, are predicted to overtake vodka in terms of volume in 2023 to become the nation’s fastest-growing spirits category.

Source (CNBC)

SourceCNBC
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