U.S markets are rallying up with power from ultra large cap tech stocks. Earlier in the day, jobs data from the country showed a growth in numbers as unemployment fell to 5.8% from 6.1% in April. A total of more than 5.5 lakh jobs were added in May, just near the estimated numbers. Investors are still assessing what this data will mean for the markets, as concerns of inflation keep returning.
Stoxx Europe is up 0.29%
Dow Jones is up 0.30%
NASDAQ is up 1.20%
2. Launch Of Nissan Electric SUV Delayed
Nissan was planning to start selling its Ariya Electric SUV model from mid-2021 and now it’s been delayed due to the shortage of chips and pandemic situation. The Ariya is Nissan’s first EV in a decade and can travel up to 610 kilometers on a single charge.
3. Grab Your Passport; Get a Vaccine from Russia!
President Vladimir Putin said on Friday they are preparing to vaccinate foreign citizens in Russia against Covid-19 for a fee. Out of four vaccines approved in the country, the most widely used one is its own Sputnik V.
4. Pfizer/ BioNtech Vaccines Approved For 12-15-Year-Olds In The UK
The medicines regulator of the UK on Friday approved the use of Pfizer/BioNTech Covid vaccines for 12-15-year-olds. It hasn’t been decided whether this age group would come under the vaccine deployment program, anyways more and more people getting vaccinated is a good thing.
5. Russia’s April Retail Sales At Better Levels
Russia reported the April retail sales above estimates as the pandemic situation cools down. Retail sales rose 34.7% compared to last year and in month-on-month terms, it’s 0.3% up. President Vladimir Putin, said on Friday Russia’s economy and employment are returning to pre-pandemic levels
6. Another Elon Musk Tweet Takes Bitcoin Down
Bitcoin on Friday fell 7% after Elon Musk tweeted about Bitcoin along with a broken-heart emoji and a picture of a couple discussing a breakup. It is very common now whenever he tweets about a crypto coin, it makes a move, upward or downward and many get trapped.
7. BMW to Build 360,000 EV Charging Sites in China in Green Push
German automaker BMW is building 3.6 lakh Electric Vehicle charging sites in China this year. This move is to push more sales towards the world’s largest EV market that is China. According to BMW, plans are on to launch 12 all-electric BMW and Mini models in China by 2023. This is in line with President Xi Jinping’s goal to make China carbon neutral by 2060. Estimates say that EV sales in China may rise to 20% of total new car sales by 2025 from the current 5%.
8. Goldmann Sachs says China cannot win war against Metal Prices
Analysts at both Goldman Sachs and Citigroup Inc have said that China’s attempts to stop rally in metal prices will likely fail. The two agencies quoted supply shortages and high global demand as the reason. Although till now, China’s Department of Price has found some level of success in bringing down steel and coal prices down from high levels in May.
This fight between the government and basic economics is being watched by traders across the world. Because this will not only affect commodity prices but also, treasury bond yields and tech stocks as inflation fears remain high across the world.
9. China’s Tariff Wars Hurting Business and Revenues: Australian Exporters
We had discussed last day about China’s aggressive position against Australia after the island country launched investigations into where Covid-19’s originated.
Now exporters in Australia are feeling the heat. Normal operations with China are now said to be “impossible” with bad relations and high tariffs. China’s top diplomat for Australia has blamed Scott Morrison’s government for worsening ties, and accused the country for “provocations.”
10. “Get A Shot, Have A Beer”: Biden’s Push To Boost Covid Vaccination Rate
Drink a beer, get yourself a haircut and get your Covid-19 vaccine. This is what U.S President Joe Biden announced yesterday in the country’s race to vaccinate 70% of the adult population by July 4th. “That’s right: get a shot, have a beer. Free beer for everyone 21 years or over to celebrate the independence from the virus,” President Joe Biden said in the speech announcing the campaign.
The White House has recruited big brewers like Anheuser-Busch to lead the operation, who will be distributing one free beer if the country hits the 70% target by July.