1. Tech Stocks Restart Rally; NASDAQ Up
After lagging behind stocks linked to economic re-opening, tech stocks rallied up as markets opened on Monday.
General markets lagged behind with S&P 500 trading flat. The U.S. jobs report is expected to show growth in payrolls in June on Friday.
Stoxx Europe is down by 0.47%
Dow Jones is down by 0.43%
NASDAQ is up by 0.61%
2. Israel To Reach Highest Ever Exports In 2021
According to the Economy Ministry of Israel, in 2021 the country’s exports will reach the highest-ever level of $120 billion against the $114 billion in 2020. The Ministry said goods exports and services exports are up 2% and 15% respectively. Software and computer service exports are the major contributors, up by more than 20%.
3. Boeing Takes A Hit After The Delay In Certification For 777X
American multinational aerospace company Boeing fell more than 2% inthe New York Stock Exchange(NYSE) on Friday after the delay in certification for its 777X Aircraft. The Federal Aviation Administration asked the company to resolve multiple technical issues in the long-range, wide-body, twin-engine jet.
4. China Launches 2 Units Of A Hydropower Station, Said To Be The World’s Largest
China on Monday announced the launch of two units of a hydropower station, said to be the world’s largest. The hydropower station is located on the Jinsha River, having a total cost of $34 billion. It will be operational in July 2022 and will generate an average of 62.4 billion kilowatt-hours of electricity every year.
5. . Nvidia Rises On Support To Buy The Chip Designer Arm Ltd.
American technology company Nvidia on Friday, moved 5% up in NASDAQ after the rise in support from ARM customers to buy the U.K.-based chip designer. In the September of 2021, Nvidia signed a deal with Softbank to acquire its stake in ARM for $40 billion. Broadcom, MediaTek, and Marvell Technology are ARM’s first customers to publicly support the takeover by Nvidia.
6. Carnival Corporation To Sell $500 Million Shares
Cruise operator Carnival Corp. on Monday revealed the plans to sell shares worth $500 million(~Rs 3,700 crores) as they are preparing to resume the operations. The amount will be used to purchase ordinary shares of Carnival Plc, trading in the United Kingdom, and for general corporate purposes.
7. The U.S. Carries out Air Strikes in Iraq and Syria
The United States carried out airstrikes in the early hours of Monday against two Iranian-backed militias in Iraq and Syria. The Pentagon said these groups had conducted drone strikes against American personnel in Iraq in recent weeks.
The strikes were the second time that Mr. Biden has ordered the use of force in the region.
8. Malaysia Readies $36 Billion Stimulus Package as Lockdown Extended
Malaysia unveiled a $36 billion(~Rs 2.62 lakh crore) package to help people through a nationwide lockdown that is once again extended. The plan includes direct fiscal injection and will result in the government disbursing 10 billion ringgit in cash aid to the people by the end of the year.
Lockdown measures were set to end today, but they will not be eased until daily cases fall below 4,000.
9. Mixing Pfizer and Astra Covid Shots Creating Strong ImmunoResponse
A University of Oxford study has shown that mixing doses of Covid-19 vaccines from Pfizer and AstraZeneca creates a strong immune response. This can be used to tackle the scarcity of vaccine supply around the world.
The ideal order is found to be Astra followed by Pfizer with a 4-weeks gap. AstraZeneca’s vaccine is being manufactured by the Serum Institute of India and marketed as Covishield.
10. Oil Prices fall Slightly Ahead of OPEC+ Meeting
Oil prices slightly fell on Monday after hitting their highest since 2018 before this week’s OPEC+ meeting. The spike in Covid-19 cases in Asia and Europe is also causing concerns of slowing demand to traders.
Even with the fall, Brent Futures are trading at $75.45/barrel now. Crude prices are not expected to fall, as OPEC’s output will likely trail global crude demand. To read more about OPEC+ and how they control crude prices, click here.