CHILE: Opposition Lawmakers Present Constitutional Accusations Against Ministers
Jan-04 19:26
- Bloomberg reporting that Chile opposition lawmakers are moving to oust two of President Gabriel Boric’s cabinet members, heightening political tensions as his administration seeks to advance key economic reforms.
- Constitutional accusations have been made against both the social development and justice ministers.
- A constitutional accusation in Chile is a lengthy process. A special commission of deputies first writes a report recommending to accept or reject the charges. The lower house must then approve it and the senate has the final word as judge.
- Worth noting roughly 61% of voters disapprove of Boric while only 24% back the president, according to the latest CEP poll published on earlier today.
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US-EU: Joint Press Conference Following US-EU Trade Talks Underway Shortly
Dec-05 19:21
US Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, and Trade Rep Katherine Tai will shortly lead a joint press availability with European Commission Executive Vice President Valdis Dombrovskis and European Commission Executive Vice President Margrethe Vestager following trade talks within the US-EU Trade and Technology Council (TTC) format at the University of Maryland.
- Livestream: https://www.state.gov/
- According to the US State Department, Blinken and Raimondo used the ministerial meeting to "emphasize the importance of the transatlantic relationship and the need to reach economically meaningful outcomes for citizens and economies on both sides of the Atlantic."
- Primary focus of the ministerial session was to hammer out issues with the US Inflation Reduction Act legislation - seen as raising the risk of a damaging trade dispute between the US and EU.
- Sabine Weyand, EU Director General for trade said ahead of the ministerial that the TTC is "key to address the challenges of the Inflation Reduction Act."
Weyand: "EU and US share climate objectives and a will to promote transatlantic trade. That means cooperation, also on subsidies for the green transition. They have to be transparent, proportionate and non-discriminatory."
US STOCKS: CORRECT Equity Roundup: Energy, Consumer Disc. Sectors Sagging
Dec-05 19:16
US stock indexes continue to sag lower Monday, Energy and Consumer Discretionary sectors weighing. SPX eminis currently trade -73.75 (-1.81%) at 4001; DJIA -492.57 (-1.43%) at 33934.06; Nasdaq -223.9 (-2%) at 11236.79.
- SPX leading/lagging sectors: Energy and Consumer Discretionary sector were both appr -2.81% on the day, a wide array of petroleum companies (Haliburton -5.84%, MPC -3.92%, MRO -3.7%, VLO -3.48%) weaker on the day as crude prices reversed early gains (WTI -2.31 at 77.67). Consumer Discretionary not far behind weighed by auto makers (TSLA -5.67%), Ford and GM distant second/third (-2.24% and 2.01% resp). Leaders: Utilities (-0.74%), Health Care (-1.14%) and Consumer Staples (-1.30%) sectors outperformed
- Dow Industrials Leaders/Laggers: Carry-over bid for Boeing (BA) +3.29 at 186.13 on reports United Airlines looking to buy dozens of new 787 Dreamliners; Amgen (AMGN) +.65 at 286.16, American Express (AXP) +0.02 at 156.77. Laggers: Carry-over selling in Salesforce.com (CRM) -10.77 at 133.79 w/ CEO Stewart Butterfield annc exit in Jan'23, Goldman Sachs (GS) -10.48 at 370.10 w/ banks, financial shares generally weaker on the day.
US STOCKS: Equity Roundup: Energy, Consumer Discretionary Sectors Sagging
Dec-05 19:12
US stock indexes continue to sag lower Monday, Energy and Consumer Discretionary sectors weighing. SPX eminis currently trade -26 (-0.64%) at 4056; DJIA -116.23 (-0.34%) at 34284.99; Nasdaq -94.1 (-0.8%) at 11390.35.
- SPX leading/lagging sectors: Energy and Consumer Discretionary sector were both appr -2.81% on the day, a wide array of petroleum companies (Haliburton -5.84%, MPC -3.92%, MRO -3.7%, VLO -3.48%) weaker on the day as crude prices reversed early gains (WTI -2.31 at 77.67). Consumer Discretionary not far behind weighed by auto makers (TSLA -5.67%), Ford and GM distant second/third (-2.24% and 2.01% resp). Leaders: Utilities (-0.74%), Health Care (-1.14%) and Consumer Staples (-1.30%) sectors outperformed
- Dow Industrials Leaders/Laggers: Carry-over bid for Boeing (BA) +3.29 at 186.13 on reports United Airlines looking to buy dozens of new 787 Dreamliners; Amgen (AMGN) +.65 at 286.16, American Express (AXP) +0.02 at 156.77. Laggers: Carry-over selling in Salesforce.com (CRM) -10.77 at 133.79 w/ CEO Stewart Butterfield annc exit in Jan'23, Goldman Sachs (GS) -10.48 at 370.10 w/ banks, financial shares generally weaker on the day.
