The most important news items that investors need to start a trading day are:
1. Stocks appear to pile up last week’s rebounds
The trader is working on the floor of the New York Stock Exchange (NYSE) in New York City, USA on June 22, 2022.
Brendan MacDermid | Reuters
U.S. stock futures rose Before the opening on Monday morning, the stock market was trying to maintain momentum from last week’s strong performance. Since entering the bear market earlier this month, the S & P 500 has risen by about 7.5%. It’s not yet clear if the market has bottomed out after this year’s dramatic decline, but investors will pay attention to economic data.
2. Russia is on the verge of default
Russian President Vladimir Putin will attend the opening ceremony of new medical facilities in some parts of Russia on June 18, 2022, via a video link in St. Petersburg, Russia. third party.
Mikhail Metsel | Sputnik | Reuters
Russian government Approximately $ 100 million in debt to be paid on Sunday, The end of the grace period that began on May 27th. There were reports that bondholders did not receive payments as Western sanctions cracked down on their ability to make payments using Russia’s sovereign currency, the ruble. This will be Russia’s first default since 1918, the year after the Russian Revolution.
3. G-7 aiming to compete with Russia and China
US President Joe Biden will attend the first day of the G7 Summit on June 26, 2022, at Schloss Ermau Castle in Bavaria, near Garmisch-Partenkirchen, Germany.
Lucas Bath | Reuters
Group of Seven leaders are pursuing several new sanctions against Russia. Russian goldWhile strengthening military and humanitarian support to Ukraine.The G7 reportedly Set an upper limit on the purchase price For Russian oil. Countering China remains a priority for G7 countries as well.On Sunday, the leaders pledged $ 600 billion in private and public funding As China pursues the Belt and Road Initiative, it has funded infrastructure in developing countries for over five years. This is a national bid to create a new version of the ancient Silk Road trade route connecting Europe and Asia.
4. Tencent aims to enable foreign automakers to use technology in China’s EV market
According to a Chinese tech company, BMW’s iX electric SUV in China was the first global car brand to feature the car version of Tencent’s WeChat messaging app.
Tencent
Recently announced by China’s leading internet and technology company Tencent New cloud computing products For automakers, we aim to be a major technology supplier in our electric vehicle market. According to Liu Shuquan, vice president of Tencent Intelligent Mobility, Tencent is already working with about 40 car brands, including BMW in Germany and Nio in China. He also said his company is working with several US car makers, but he declined to say which one.
5. ExxonMobil CEO warns against sudden energy shifts
Darren Woods, CEO of ExxonMobil
Michael Newberg | CNBC
Gas prices are already high, according to the CEO of oil giant ExxonMobil, but gas prices could rise as society rapidly shifts from fossil fuels. In an interview with CNBC’s David Faber Darren Woods said Instead, governments need to create market-based incentives to help reduce emissions. President Joe Byden and his administration have criticized ExxonMobil and other oil companies for making profits while fuel prices are soaring, and activists are the main reason countries should move away from oil and gas. In support of renewable energy, he cited Russia’s war in Ukraine, which disrupted the world’s energy supply chain. Check out Exxon Mobilatthe Crossroads, a complete documentary featuring Faber on YouTube, Peacock, and CNBC.com.
— CNBC’s Sarah Min, Matt Clinch, Elliot Smith, Evelyn Cheng, and Reuters contributed to this report.
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