Tesla Receives Green Light to Host County Fair
Elon Musk’s Tesla gets the approval to host the ‘Giga-Fest’ near Berlin Germany, with 9,000 attendees after local authorities agreed that the event is COVID-safe. This however, has electrified the Germany-California culture clash, with environmentalists arguing that Tesla have been given too much leeway in acting recklessly in the European nation.
MACROECONOMIC DATA ANALYSIS
The North American Treaty Organization (NATO) chief Jens Stoltenberg stated that the discharge of eight members of Russia’s NATO mission is not linked to a specific event or occurrence, urging the alliance to be vigilant when facing “malign” Russian actions & activity.
Japan’s new Finance Minister Shunichi Suzuki warns against sharp currency changes and volatility, as he was closely examining the foreign exchange market with the Asian nation’s yen hovering close to 18-month lows against the U.S. dollar greenback.
The U.S. dollar remains to be near 14-month highs, driven by soaring global energy prices which persuaded investors to take a cautious stance as the risk of the U.S. Federal Reserve normalizing policies sooner than expected increases. The dollar index edged slightly lower to value at 94.177.
Gold prices hold firm despite a lightly declining U.S. dollar greenback which typically moves inversely to the precious metal, with nervous traders & investors continuing to hedge their risks by securing their wealth with gold. Gold futures are currently priced at $1,760 an ounce.
Crude oil prices extend their downward direction as the United States stated that it considers selling oil from its reserve piles, and Russia being prepared to stabilize the natural gas industry & market on an international scale. Brent oil slumped 0.31% to $80.83 per barrel, while WTI oil edged 0.19% higher to $77.58 a barrel.
USA: S&P500 +1.50%, Dow Jones Industrial Average +1.57%, Nasdaq Composite +1.56%
Europe: FTSE 100 +1.29%, DAX +1.71%, CAC 40 +1.62%
Asia: Nikkei 225 +0.54%, Hang Seng +3.57%, CSI 300 +0.90%, Nifty 50 +0.82%
E-commerce leader Amazon, as part of its Climate Pledge Fund, has invested in the Italian CMC Machinery, which manufactures custom-sized packages which eliminate the necessity of single-use plastic packaging. The Climate Pledge Fund is a corporate venture capital fund, which invests in organizations driven to develop sustainable products, services and technologies.
The toymaking leader Hasbro stated that global supply chain issues cost the company around $100 million, due to an array of disruptions such as lost toy orders in the third quarter. The American multinational conglomerate has also warned of declining sales in the crucial holiday shopping season due to such supply chain bottlenecks.