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On February 7th, the Dow Jones Industrial Average (DJIA) broke through the 50,000-point mark for the first time in US trading. This is the latest milestone achieved by the US economy after years of strong growth. During this period, the US economy not only outperformed other developed economies but also attracted a large amount of investment globally. Chris Hyzy, Chief Investment Officer of Bank of America Merrill Lynch Private Bank, said, "In any case, we dont believe the opportunities in the US market are over." The DJIAs rise in recent months marks a reversal from the trend earlier last year, when Trumps tariffs triggered market turmoil. However, since then, many of Wall Streets concerns about the impact of tariffs have not materialized, and with the continued strong growth of the US economy, investors are optimistic that the Federal Reserve will continue to lower interest rates this year. However, although the DJIA is steadily moving towards the 100,000-point mark, there are still warning signs in some areas of the economy. Inflationary pressures continue to squeeze the lives of millions of low- and middle-income Americans, and US job growth is weak. At the same time, overseas economic growth and expansionary government policies have led to international markets consistently outperforming the highly valued US market in recent months. This may mean that some of the stocks that drove the DJIAs rise may face greater pressure in the future.Market news: Apple (AAPL.O) will allow external voice-controlled chatbots to be used in CarPlay AI.February 7th - According to AXIOS, the United States and Iran held several hours of nuclear talks in Oman on Friday, and officials from both countries indicated they expect further talks in the coming days. Two sources familiar with the meeting stated that during the talks, Trumps special envoys Witkov and Kushner met directly with Iranian Foreign Minister Araghchi. In most previous meetings, Iran has insisted on communicating with the United States only through mediators, rather than directly negotiating. According to the two sources, part of Fridays meeting was conducted in this format, but officials also had direct exchanges. A US official told the media that a second round of talks is expected in the coming days.Hang Seng Index futures closed up 1.8% at 27,053 points in overnight trading, a premium of 493 points.February 7th - The CME Group stated on Friday that it is aware of the delay in the release of metal settlement data and that its technical support team is addressing the issue. The CME Group did not disclose the specific reason for the delay. Metal settlement prices are closely watched by market participants as they are used for pricing, margin calculations, and valuations in both physical and derivatives markets. Last November, the worlds largest exchange operator experienced its longest system outage in years, causing a complete disruption to trading in stocks, bonds, commodities, and currencies, and paralyzing global futures markets for several hours.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."


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