BREAKING: Boeing 737 Jet Crashes in Iran due to technical issues after takeoff. Source (ISNA) Oil Stuff & The Middle East At least two airbases housing US troops in Iraq have been hit by more than a dozen ballistic missiles. Iranian state TV says the attack is a direct retaliation to the US killing top commander Qasem Soleimani. Presently, it’s unclear whether there are any casualties.
2 fatal plane crashes and 346 lives. That’s what it took for Boeing to admit that things weren’t going so well after all. The firm announced on Monday that it would suspend production of its 737 Max Jetliner. The firm will halt production in January.
There we go. It’s here. President Donald Trump agreed to a phase-one trade deal with China, averting the Dec 15 introduction of new tariffs on $160 billion worth of Chinese goods.
The Fed left interest rates unchanged on Wednesday, and chairman Powell reinstated his belief that the labour market can improve further despite unemployment being at a half-century low. “Even though we’re at 3.5% unemployment, there’s actually more slack out there,” Powell said. “And the risks of using an accommodative monetary policy’’ to boost the labour market are “relatively low.’’
Trade Talks So here’s the thing: I think we’re in a classic game of Russian roulette. At this point in trade talks its really a matter of time before China and US finally admit to each other that they would rather engage in what is clearly a patter of self-destructive behaviour than come to a mutual agreement about any deal that might be on the table.
Jobs Are Here: US Economic data about job gains was released this morning, and unemployment matched half-century lows. Markets chased fresh highs, reaffirming that the Fed’s decision to hold rates was a reasonable one.
Aramco IPO is here The oil-producing giant has priced its initial public offering at the high end of the target range to give it a total valuation of $1.7 trillion. 3 billion shares will be sold, which means investors will have the opportunity to buy a grand total of - wait for it - 1.5% stake of the company. On the Saudi Exchange, the high of the valuation target is 32 Saudi Riyals, ($8.53), a total offering of $25.6 billion.
Stocks Fall, Stocks Rise US and China are moving closer to agreeing on the amount of tariffs that will be rolled back the phase-one deal, despite tensions over Hong Kong and Xinjiang. You can almost know for certain that you will never know for certain when it comes to Trump.