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Tesla Gets Order for 100,000 Vehicles from Hertz

Popular car rental company Hertz announced an order of 100,000 Tesla cars, in efforts towards changing its fleet of cars to electric vehicles just months after escaping bankruptcy. The 100,000 cars ordered are expected to be delivered by the end of 2022, marking the largest order for the electric carmaker, worth around $4.4 billion. The car rental company also announced that it was installing 3,000 supercharging stations throughout the United States and Europe for its customers.

MACROECONOMIC DATA ANALYSIS

U.S. President Joe Biden will attend a meeting with the Association of Southeast Asian Nations (ASEAN) on Tuesday, leading the American delegation at the ASEAN-USA summit. This presents opportunities for co-operation between the United States and countries in southeast Asia.

The United Kingdom it shall raise its minimum wage for those aged 23 and over to 9.5 pounds ($13.06) per hour from the current 8.91 pounds, to take effect in April 2022, the British finance ministry announced on Monday. Finance minister Rishi Sunak said in a statement that this wage boost ensures that Britain is heading towards its goal of ending low pay.

CURRENCIES

The U.S. dollar bounces back from one-month lows as traders and investors are highly anticipating tighter U.S. monetary policies despite interest rate hikes expected to begin earlier outside the United States. The dollar index jumped 0.18% to 93.793.

GOLD

Gold futures prices escalated on Monday, putting the popular precious metal deemed as a safe haven back on track towards the $1,800 per ounce price tag, for the first time in six weeks. Despite the U.S. dollar surging higher, which typically moves inversely to the U.S. dollar, gold edged 0.82% higher to $1,809 an ounce.

OIL

Crude oil prices extended previous gains to hit multi-year highs, driven by tightening global supply and surging fuel demand in the United States as economies recover from the coronavirus pandemic downturns. Brent oil futures climbed 1.04% to $85.52 a barrel, and WTI oil futures rocketed 1.34% to $84.91 per barrel.

INDICES

USA: S&P500 -0.11%, Dow Jones Industrial Average +0.21%, Nasdaq Composite -0.87%

Europe: FTSE 100 +0.20%, DAX +0.46%, CAC 40 +0.71%

Asia: Nikkei 225 +0.34%, Hang Seng +0.42%, CSI 300 +0.64%, Nifty 50 -0.35%

Newest

Salesmen Threaten to Disrupt Reliance Supply

A letter seen by Reuters unveiled that salesmen from India have threatened to disrupt & derange supplies to stores which are partnered with the renowned Reliance giant. As per the Reuters report, Indian salesmen from companies such as Reckitt Benckiser, Uniliever and Colgate-Palmolive stated that their sales declined 20-25% in the last year as small, family-owned and independent businesses were increasingly in partnership with Reliance to provide lower prices, dominating the market.

Apple: Demand for iPhone 13 Has Weakened

According to people familiar with the matter, Apple has informed to its suppliers that the demand for the iPhone 13 has slowed down. The company has already cut iPhone 13 production by 10 million units due to global semiconductor chip shortages, as well as coronavirus-related manufacturing issues in Asia. The news of weaker iPhone 13 demand has pushed the Apple stock downwards by 2.92% in early trading sessions.

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