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By Michael Martina SAN FRANCISCO (Reuters) -China is ready to be a partner and friend of the United States, and there is plenty of room for bilateral cooperation, President Xi Jinping told American executives in San Francisco on Wednesday, as Beijing looks to reassure global business and counter his country's struggles to entice foreign investment. The U.S. executives dined with Xi on the margins of the Asia-Pacific Economic Cooperation (APEC) forum following a day of talks between Xi and U.S. President Joe Biden, aimed at steadying relations between the world's two largest economies. Xi received a standing ovation as he entered the room, and two more before and after he took the stage to speak. The world needs China and the U.S. to work together, and it is wrong to view China as a threat and play a zero-sum game against it, Xi said in a speech to the audience, including some hand-picked by Beijing. "Whatever stage of development it may reach, China will never pursue hegemony or expansion, and will never impose its will on others. China does not seek spheres of influence, and will not fight a cold war or a hot war with anyone," Xi said. He assured his audience that "no matter how the global landscape evolves, the historical trend of peaceful coexistence between China and the United States will not change." Xi's optimistic tone toward relations with the U.S. was at odds with the negative chorus of voices in Washington, where the U.S. Congress finds unusual bipartisan consensus in the need to counter Beijing. The high-security dinner was a chance for companies to hear directly from China's leader as they search for ways to navigate China's economic slowdown, a U.S. push to "de-risk" some American supply chains away from China, and uncertainty caused by China's expanding security rules. But Xi directed much of his speech toward the American people, and spent little time on commercial relations with the U.S. "I would like to let you know that China sympathizes deeply with the American people, especially the young, for the sufferings that fentanyl has inflicted upon them," he said. China and the U.S. reached an agreement to curb fentanyl production in earlier talks between Xi and Biden. The event attracted nearly 400 people, including government officials and academics. Courses served included coffee-crusted black angus flat iron steak and a vegetable curry with squash and rice. Executives from U.S. corporate giants such as Apple (NASDAQ:AAPL)'s Tim Cook, BlackRock (NYSE:BLK)'s Laurence Fink, Broadcom (NASDAQ:AVGO)'s Hock Tan, Bridgewater Associates' Ray Dalio and Pfizer (NYSE:PFE)'s Albert Bourla were at the dinner tables. CONTROVERSY U.S. Commerce Secretary Gina Raimondo and other senior U.S. officials also attended the event, which generated controversy due to reported high ticket costs for companies seeking to brush shoulders with Xi. Mike Gallagher, the Republican chairman of the U.S. House of Representatives' select committee on China, had called it "unconscionable" that American companies would pay thousands of dollars to join a dinner with a government the United States says is committing genocide against Muslim Uyghurs. Gallagher sent a letter on Monday to the hosts – the U.S.-China Business Council and the National Committee on U.S.-China Relations – demanding a complete list of individuals and companies that purchased tickets to the dinner. Analysts have said Xi's speech alone is unlikely to dramatically alter U.S. business sentiment about China. U.S. and Chinese officials have often described bilateral business and trade relations as the ballast in otherwise contentious ties with the U.S. But the growing economic and geopolitical rivalry between the superpowers has placed companies from both countries in the crosshairs of the other's government. China has grown more suspicious of engagement with Western companies, in line with Xi's emphasis on self-reliance and national security, and this year it has cracked down on some U.S. consultancy and due-diligence firms, further damaging investor confidence. But Gary Dvorchak, whose family hosted Xi in Iowa in 1985 when the Chinese leader was a young official, and who was invited by Beijing to attend the dinner, said Xi's appearance was savvy public relations, allowing the ruling Communist Party to show a Chinese domestic audience he has appeal to regular people. "It humanizes him and it gives him an ability to show a connection to the American people and bypass the American media," Dvorchak said.
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GBP HAS GONE COLD
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By Aditi Shah, Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -China's loss in India could be Elon Musk's gain. Tesla (NASDAQ:TSLA) has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China's BYD, has been stopped cold by increased scrutiny from New Delhi. The result could be an opening for Tesla to negotiate terms for an entry to the world's third-largest auto market without the competitive threat from BYD that it faces in other emerging markets, like Thailand. "The future of who wins in India will have some bearing on who wins globally in the EV race," said Jasmeet Khurana of the World Economic Forum. Since a meeting between Musk and Indian Prime Minister Narendra Modi in June in New York, Tesla has fast-tracked closed-door discussions with Indian officials on a potential plant investment and plans to build a new low-cost $24,000 EV. Those talks continued over the past week with Tesla discussing minute details of its plans to gain access to India's fast-growing EV market, and Modi personally tracking developments, sources say. Those meetings, though, have been strictly kept under wraps, with officials putting out no photos on social media of handshakes with executives which otherwise is a usual affair after high-profile meetings. BYD, meanwhile, appears to be taking a backseat. Months after seeking clearance for its own $1 billion investment in India, BYD is no longer keen to pursue the approval, Reuters reported. In a further setback, BYD is facing an investigation over allegations that it underpaid import tax in India. Among other concerns, Indian officials are worried about the national security implications of Chinese-made vehicles and the data they could collect. India is "uncomfortable with Chinese automakers," an official said. While all investments from China have faced tightened approval requirements in India since a border clash between the two in 2020, there could be an outsized effect on the developing market for EVs in India because of China's dominance in battery materials, battery production and other technology. Tesla, too, has Chinese suppliers that have helped it slash production costs at its Shanghai factory and it now wants to bring them to India - where it appears to have an upper hand in talks with New Delhi. India has told Tesla it will allow its Chinese suppliers into the country if they forge partnerships with local firms, just like Apple (NASDAQ:AAPL) did. But at the same time, India is hesitant on BYD's $1-billion plan even though that too was proposed as a partnership with a domestic engineering firm. The Global Times, a Chinese state-run newspaper, said the reported pushback on BYD's investment plan "will lead to a chain reaction and deal a blow to the overall confidence of Chinese companies in investing India." BYD has not commented on its $1 billion India plan while Musk, after meeting Modi, said Tesla plans to make significant investments in the country. INDIA'S GROWING EV MARKET Tesla wants to sell 20 million cars globally by 2030, up from 1.31 million in 2022, but faces hurdles to expanding its Shanghai factory. BYD was the world's biggest seller of EVs and plug-in hybrids in 2022 with a total of 1.86 million units - the vast majority in China. It trails Tesla in terms of sales of fully electric cars. "Tesla sees competition mainly with BYD, and both are expanding globally at great speed," said Gaurav Vangaal of S&P Global (NYSE:SPGI) Mobility. "If they want volumes, they have to come to India," he said, adding that with the government incentivising companies to build EVs locally, India can also serve as an export base. Annual production of light electric vehicles in India is expected to rise to 1.4 million by 2030, close to 19% of total forecast production of 7.25 million, according to estimates by S&P Global Mobility. It was less than 50,000 in 2022. India's nascent EV market is dominated by local player Tata Motors (NYSE:TTM), whose best-selling Nexon EV sells for as high as $19,000 while Chinese carmaker MG Motor's ZS EV starts at $28,000 while BYD's Atto 3 retails at around $41,000 in India. Toyota Motor (NYSE:TM), Hyundai Motor and Kia all sell mid-sized gasoline SUVs priced at around $24,000, Tesla's identified entry point. Tesla does not currently sell vehicles in India. "Tesla has become a desirable product in name alone," said Sam Fiorani of AutoForecast Solutions. "Add to that an affordable product tailored for the Indian market and it has the potential to be a hit locally."
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@Atlas #Emporos Research
the weather is interesting in both countries , i also like the idea of china even though is mostly cold there , but i know of their southern provinces
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the weather is interesting in both countries , i also like the idea of china even though is mostly cold there , but i know of their southern provinces
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(Reuters) - Russia has begun using its new T-14 Armata battle tanks to fire on Ukrainian positions "but they have not yet participated in direct assault operations", the RIA state news agency reported on Tuesday, quoting a source close to the matter. DIPLOMACY * Risks of a direct military confrontation between the two nuclear powers, Russia and the United States, are steadily growing, the TASS news agency quoted a senior Russian diplomat as saying. * Russia may retreat from the moratorium on the deployment of intermediate and shorter-range missiles due to the actions of the United States, TASS quoted a senior Russian diplomat as saying. * U.N. Secretary-General Antonio Gutterres told a meeting chaired by Russia's foreign minister that the invasion of Ukraine is "causing massive suffering and devastation" while Moscow warned global risks were possibly worse than during the Cold War. * Security will be a key issue at a wind energy summit of seven countries surrounding the North Sea, Belgium said. Dutch intelligence agencies have accused Russia of planning sabotage to offshore turbines. Russia rejects that. * EU foreign policy chief Josep Borrell expressed confidence that the bloc would finalise a plan within days to buy ammunition for Ukraine. CHINA SEEKS TO END SOVEREIGNTY ROW * China respects the status of former Soviet member states as sovereign nations, its foreign ministry said, distancing itself from comments by its envoy to France that triggered uproar. FIGHTING * Ukraine's military said on Tuesday that Russia maintained its offensive action in the Bakhmut, Avdiivka and Maryinka areas on the eastern front, with "heavy fighting" for the city of Bakhmut. GRAIN DEAL * Russia's defence ministry accused Ukraine of attempting to attack its ships in the Black Sea, which it said was threatening prospects for a deal on grain exports. * U.N. Secretary-General Antonio Guterres has proposed to Russian President Vladimir Putin a "way forward aimed at the improvement, extension and expansion" of a deal allowing the safe Black Sea export of Ukrainian grain, a U.N. spokesperson said. ECONOMY * A new round of European Union sanctions against Russia is under discussion but adoption of the package is unlikely earlier than "deep into May", Poland's Foreign Minister Zbigniew Rau said. * The European Union and Japan have pushed back against a U.S. proposal for G7 countries to ban all exports to Russia, the Financial Times reported. * Russia needs an estimated 500 billion roubles ($6.1 billion) for the development of a drone project announced by Putin in February, the Russian RBC news outlet reported. RECENT IN-DEPTH STORIES * ANALYSIS-Russia crosses new lines in crackdown on Putin's enemies * EXCLUSIVE-The Russian military commandant who oversaw reign of fear in Ukraine town * EXCLUSIVE-Kazakhstan has ramped up oil exports bypassing Russia -sources
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(Reuters) - U.N. Secretary-General Antonio Guterres told a meeting chaired by Russia's foreign minister Moscow's invasion of Ukraine is "causing massive suffering and devastation" and that the risks of conflict between major powers are at an historic high. SECURITY MOVES * Finland's Foreign Minister Pekka Haavisto said Russia could benefit from the crisis in Sudan and the European Union should do more to try to resolve it. The EU must also accelerate its joint procurement of ammunition for Ukraine, Haavisto said. * Security will be a key issue at a wind energy summit of seven countries surrounding the North Sea, Belgian Prime Minister Alexander De Croo said. Dutch intelligence agencies have accused Russia of planning potential sabotage to offshore turbines. Moscow has said the allegations are baseless. * Turkey's defence minister said he planned to meet his Syrian, Russian and Iranian counterparts in Moscow on Tuesday, amid efforts to rebuild Ankara-Damascus ties after years of animosity during the Syrian war. CHINA SEEKS TO END SOVEREIGNTY ROW * China respects the status of former Soviet member states as sovereign nations, its foreign ministry said, distancing itself from comments by its envoy to Paris that triggered an uproar among European capitals. FIGHTING * Russia's Black Sea Fleet repelled a drone attack on the Crimean port of Sevastopol early on Monday, the Moscow-installed governor of the city said through social media. * Russia said on Sunday its forces had advanced in Bakhmut while a top Ukrainian commander said his troops were holding the front line through the city. GRAIN DEAL * Former Russian President Dmitry Medvedev said on Sunday that if the G7 moved to ban exports to Russia, it would respond by terminating the Black sea grains deal, which it has already signalled it will not allow to continue beyond May 18. * A first batch of Russian fertilizer that Latvia seized last year is being shipped to Kenya by the U.N. World Food Programme, Latvia's foreign ministry said on Saturday. Russia has cited the seizure as a key stumbling block to its continued participation in the grains deal. ECONOMY * Global military spending rose to a record last year as Russia's war drove the biggest annual increase in expenditure in Europe since the end of the Cold War three decades ago, a prominent conflict and armaments think tank said on Monday. * Russia's richest people have added $152 billion to their wealth over the past year, helped by high prices for natural resources - rebounding from the huge losses they experienced after the start of the war in Ukraine, Forbes Russia said. RUSSIAN OFFICIAL'S SON * The son of Russian President Vladimir Putin's spokesperson said in an interview published on Saturday that he had served in Ukraine under an assumed name as an artilleryman in the Wagner mercenary force, the Komsomolskaya Pravda newspaper reported. RECENT IN-DEPTH STORIES * ANALYSIS-Russia crosses new lines in crackdown on Putin's enemies * EXCLUSIVE-The Russian military commandant who oversaw reign of fear in Ukraine town * EXCLUSIVE-Kazakhstan has ramped up oil exports bypassing Russia -sources
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10 minutes in cold water shower is the best for stress...and is true
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By Senad Karaahmetovic U.S. futures are trading higher on Monday after the U.S. equities secured a strong close to the last trading week. The S&P 500 closed 1.4% higher while the Dow Jones Industrial Average (DJIA) added 1.2%. The tech-focused Nasdaq Composite Index (IXIC) finished the week 1.65% higher. Thanks to the outperformance of mega-cap stocks like Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT), the S&P 500 is up 3.4% year-to-date. However, the equal-weighted index is down about 5.5%. With Microsoft and Apple up 17% and 23% year-to-date, respectively, BTIG analysts warn that the "clock is ticking for technology stocks as divergences grow larger." "We believe the risk is that these names, and therefore tech broadly, catch-down to other parts of the market and that is what ultimately moves the SPX lower." What happened last week? As was the case with the penultimate week, investors were laser-focused on the banks. Stocks outperformed on Friday after staging a big drop two days earlier on fears that the global banking crisis is not over. Late last week, investors were focused on the Deutsche Bank (ETR:DBKGn) with costs of insurance of the company's bonds rising sharply. "The banking turmoil is also a crisis of confidence, and these tend to take time to ease. While volatility may persist in the near term, we continue to believe that there are not yet signs of wide-scale contagion or systemic risk in the U.S. banking system," Edward Jones analysts wrote in a regular weekly note. The Fed hiked its key interest rate by 25 basis points, although the dovish forward forecast implies the end to the ongoing hiking cycle is near. Given that the Fed is likely to stop hiking soon, the outlook for the stock market looks more balanced now despite the increasing odds of a U.S. recession. "A further tightening in lending standards due to banking system pressures looks set to do the rest of the Fed’s job for them, dragging on economic growth and inflation but reducing the risk of further rate hikes," JPMorgan analysts said. Week ahead The banks managed to rally on Friday, helping the overall risk sentiment to improve heading into the weekend. No news over the weekend is good news, hence futures are up in early Monday trading. As far as economic data is concerned, the key release is the core personal consumption expenditures (PCE) report on Friday. Investors will be also closely following speeches of Fed officials, including congressional testimony by Vice Chair for Supervision Michael Barr on Tuesday and Wednesday and speeches by New York Fed President Williams and Fed Governor Waller on Friday. On the Fed front, the market is now pricing 8 bps of hikes in May, followed by 13 bps and 23 bps of cuts in June and July, respectively. This is despite Fed Chair Powell stating last week that the FOMC doesn't "see rate cuts this year." What analysts are saying about equities Goldman Sachs analysts: "Feels like the market will continue to compartmentalize these concerns amidst the background of yield curve pricing. The shift that could pour cold water on this trade would be a move in rates or inflation expectation, but look ahead to the catalysts of NFP next week and then CPI thereafter for markets to start to re-focus on these concerns." Morgan Stanley analysts: "With bond markets questioning the Fed's dot plot, bond volatility has increased markedly. We think stocks are next as investors realize earnings guidance looks unrealistic. This is when the ERP typically reprices, and stocks may finally get ahead of the downside we see in earnings estimates." Roth MKM analysts: "In our client conversations we still feel a large degree of pessimism for the outlook on equities. Recession is a foregone conclusion. New lows for stocks are expected… If equity correlations spike to one, we would become very concerned and frankly extremely negative, however rotation continues, and Technology remains an overweight, not simply due to relative outperformance but absolute performance as well." Edward Jones analysts: "We see opportunities forming in both the equity and bond space in the months ahead, beyond the more recent defensive posturing, as markets start to look past the economic downturn and toward a recovery… Investors can use near-term market volatility to rebalance, diversify and add quality investments at better prices ahead of a potentially more sustainable rebound to come." Jefferies analysts: "For equities, the question will be whether the drop in bond yields is enough to offset the drag on growth from tighter lending standards." JPMorgan analysts: "One should use the bounces to reduce exposure. We do not see these rebounds persisting, the policy mistake risk keeps building. In a nutshell, we do not expect a fundamental improvement in equities riskreward until the Fed is advanced with rate cuts." Fairlead Strategies analysts: "[S&P 500] short-term upside momentum is challenged by cloud-based resistance ranging up to ~4060. Importantly, the weekly MACD indicator is now on a “sell” signal after having been on a "buy" signal since early November, reflecting a meaningful loss of intermediateterm momentum. This makes it harder for the market to sustain rallies."
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By Sakura Murakami TOKYO (Reuters) -China said it was troubled by Japan's military build up and Tokyo took aim at Beijing's military ties to Russia and its suspected use of spy balloons during the Asian powers' first formal security talks in four years on Wednesday. The talks, aimed at easing tensions between the world's second- and third-largest economies, came as Tokyo worries that Beijing will resort to force to take control of Taiwan in the wake of Russia's attack on Ukraine, sparking a conflict that could embroil Japan and disrupt global trade. Japan in December said it would double defence spending over the next five years to 2% of gross domestic product - a total of $320 billion - to deter China from resorting to military action. Beijing, which increased defence spending by 7.1% last year, spends more than four times as much as Japan on its forces. Tokyo plans to acquire longer range missiles that could strike mainland China and to stock up on other munitions it would need to sustain a conflict alongside the large U.S. force it hosts. "The international security situation has undergone vast changes and we are seeing the return of unilateralism, protectionism, and a Cold War mentality," Chinese Vice Foreign Minister Sun Weidong said at the start of the meeting in Tokyo with Japanese Deputy Minister of Foreign Affairs Shigeo Yamada. China is Japan's largest trading partner, accounting for around a fifth of its exports and almost a quarter of its imports. It's also a major manufacturing base for Japanese companies. “While relations between Japan and China have a lot of possibilities, we are also facing many issues and concerns," Yamada told Sun. He pointed to their territorial dispute over uninhabited islands in the East China Sea known as the Senkaku in Japan and Diaoyu in China, Beijing's recent joint military drills with Moscow and the suspected Chinese surveillance balloons spotted over Japan at least three times since 2019. Following the downing of a suspected Chinese spy balloon by the United States, Japan last week said it planned to clarify military engagement rules to allow its jet fighters to shoot down unmanned aircraft that violate its airspace. In a statement released after the meeting, Japan's foreign ministry said it had also stressed the importance of peace and stability in the Taiwan Strait. The two countries had agreed to try and establish a direct communication hotline "around spring", and to strengthen dialogue between their senior security officials, it added.
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blast off tomorrow if cpi is cold
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if its cold where you are
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hope everyone enjoys the cold weekend
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JAKARTA (Reuters) - Indonesia's finance minister on Monday told the nation's top bankers to be wary of risks to their balance sheets this year due to numerous global risks, including potential debt crises in some countries. In a seminar with bankers, Sri Mulyani Indrawati said risks in 2023 included high inflation, rising interest rates, geopolitical tension and the International Monetary Fund's outlook for slowing global growth. "The ups and downs, whether our economy is healthy or not really depend on the banking sector today, in 2023," Sri Mulyani said. "So if I am guarding the state budget, please take care of your own banks well too," she said, urging bankers to think ahead and not to "continue to be constantly surprised" by global developments. Southeast Asia's largest economy managed to maintain economic stability during an extraordinary year in 2022, she said, with economic growth expected to have remained resilient around 5% in the fourth quarter, following 5.7% growth in the third quarter. Some other countries did not fare so well, Sri Mulyani said, predicting for this year "not only recession but the potential of debt crisis in countries where debt levels are very high". She also warned of global division into geopolitical blocks reminiscent of the Cold War. The Indonesian government would continue to maintain a flexible budget, including anticipating a potential revenue loss from moderating commodity prices, she said. It did well last year, the minister added, citing a fiscal deficit of 2.4% of GDP, much smaller than planned, thanks to strong revenue collection from a commodity export boom. Indonesia's banking sector is well capitalised with a capital adequacy ratio at 25.49% and a non-performing loan ratio at 2.65% as of November. Its central bank last year raised interest rates by a total of 200 basis points and some economists expected further rate hikes this year to bring inflation back to within a 2-4% target. December inflation was 5.51%.
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By Shariq Khan NEW YORK (Reuters) -Oil prices dipped on Wednesday as traders weighed concerns over a surge in COVID-19 cases in China, the world's top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand. Brent crude futures fell $1.69, or 2%, to $82.64 a barrel by 10:01 a.m. EST [1501 GMT], while the U.S. West Texas Intermediate crude futures fell $1.55, or 2%, to $77.98 per barrel. China said it will stop requiring inbound travellers to go into quarantine from Jan. 8, a major step towards relaxing stringent curbs on its borders. However, Chinese hospitals have been under intense pressure due to a surge in COVID-19 infections. "Even after China eased COVID restrictions, it is difficult for demand to recover in a short time due to the rapid decline of people's outdoor activities due to the massive infection (numbers)," said Leon Li, an analyst at CMC Markets. Oil markets were also buffeted by rising expectations of another interest rate hike in the United States, as the U.S. Federal Reserve tries to limit price rises in a tight labor market. Trading volumes over this week are expected to be lower than usual as the end of the year approaches, leading to volatility in oil prices. Both benchmarks had hit their highest in three weeks on Tuesday, as a cold snap across the U.S. forced shutdowns at production sites and refineries, including production and refining shutdowns across North Dakota and Texas at the weekend. Meanwhile, Russia said it aims to ban oil sales from Feb. 1 to countries that abide by a G7 price cap imposed on Dec. 5, although details of how the ban would work were unclear. U.S. crude oil stocks were estimated to have fallen 1.6 million barrels last week with distillate inventories also seen down, a preliminary Reuters poll showed on Tuesday. Industry group the American Petroleum Institute is due to release data at 4.30 p.m. EDT [2130 GMT] on Wednesday. The U.S. government will release its figures at 10.30 a.m. on Thursday.
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By Isabel Kua SINGAPORE (Reuters) -Oil prices rose to three-week highs on Tuesday as China's latest easing of COVID-19 restrictions spurred fuel demand hopes, while concerns that winter storms across the United States are affecting energy production continued to support prices. Brent crude was up 52 cents, or 0.6%, at $84.44 a barrel by 0712 GMT, while U.S. West Texas Intermediate crude was at $80.04 a barrel, up 48 cents, or 0.6%. They hit their highest since Dec. 5 earlier in the session. On Friday, Brent rose 3.6%, while WTI gained 2.7%, as they recorded their biggest weekly gains since October. British and U.S. markets were closed on Monday for the Christmas holiday. China will end its quarantine requirements for inbound travellers starting on Jan. 8, the National Health Commission said on Monday, dropping a rule in place since the start of the pandemic three years ago. That raised optimism of higher demand from the top crude oil importer. "Oil demand recovery is in sight for China, which is great news for the refining sector," said Serena Huang, head of APAC analysis at Vortexa. The greenback softened after China said it would drop its quarantine rule. A weaker dollar makes oil cheaper for holders of other currencies. Oil prices are also drawing support from worries about supply disruption due to winter storms in the United States, said Kazuhiko Saito, chief analyst at Fujitomi Securities Co Ltd. The concerns "prompted buying, though trade was thin as many market participants were away on holiday", Saito added. "But the U.S. weather is forecast to improve this week, which means the rally may not last too long," he said. A blizzard that paralyzed western New York over the Christmas weekend has killed more than two dozen people, local officials said, as crews struggled to dig out the snow-bound region around Buffalo from its fiercest winter storm in decades. The larger storm system has wreaked havoc with travel across the country over the holiday weekend, stranding passengers as thousands of flights were cancelled. Frigid cold and blowing winds on Friday knocked out power and cut energy production across the United States, driving up heating and electricity prices. Concerns over a possible production cut by Russia also contributed to oil price gains. Russia may cut oil output by 5% to 7% in early 2023 as it responds to price caps, the RIA news agency cited Deputy Prime Minister Alexander Novak as saying on Friday.
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Powell never misses a chance to hose the market with ice cold water mixed with verbal diarrhoea
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(Reuters) - Wall Street's main indexes opened lower on Friday as higher-than-expected job additions in November poured cold water on investor expectations of the Federal Reserve easing its aggressive monetary policy tightening. The Dow Jones Industrial Average fell 129.6 points, or 0.38%, at the open to 34265.45. The S&P 500 fell 36.4 points, or 0.89%, at the open to 4040.17, while the Nasdaq Composite dropped 174.1 points, or 1.52%, to 11308.375 at the opening bell.
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Doing pretty well. Had a little cold this week but feeling better this morning
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Outside in the cold distance
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@Atlas #Emporos Research
lol , i did not know what i wanted to start working on , so i prepared a cold cocktail
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By Tom Westbrook SYDNEY (Reuters) - The dollar steadied on Wednesday after a sharp rate rise in New Zealand poured cold water over hopes for a pause or slowdown in the U.S. Federal Reserve's intentions for aggressive hikes. The dollar had suffered its heaviest setback in more than two years on Tuesday but was back on the front foot after the Reserve Bank of New Zealand (RBNZ) delivered a fifth consecutive 50 basis point (bp) hike. Even the New Zealand dollar was only boosted briefly. The kiwi leapt as much as 1.3% before falling back to barely above flat at $0.5741. The euro fell 0.2% to $0.9970. Sterling's rally paused as it fell 0.3% to $1.1449. The RBNZ move and tone contrasted with the Reserve Bank of Australia's surprisingly small 25 bp hike a day earlier, which had seemingly stoked hopes that the U.S. Federal Reserve may also slow hikes and fuelled dollar selling. "Just as RBA's smaller-than-expected hike yesterday added to trimming of hawkish Fed bets, RBNZ's hawkish signalling could remind markets that fighting inflation is still priority for many central banks," said Maybank analyst Saktiandi Supaat. "A more synchronous dovish tilt among major central banks on growth fears might be premature." The dollar index, down about 4% since hitting a record high of 114.78 last week, steadied at 110.30. The yen held at 144.06 per dollar and the Australian dollar fell 0.2% to $0.6488. Demand for the safe haven dollar had fallen in recent days as the mood in global markets improved on speculation Britain's new finance minister Kwasi Kwarteng, having rowed back on a proposed tax break for high earners, could make further adjustments to a mini-budget that had sent bond and currency markets into a tailspin last week. Having recovered nearly 11% from week-ago record lows, sterling's rally seems to be running out of steam, dealers said. Analysts have been cautious about how much has really changed about Britain's fiscal outlook and how broad Australia's rates signal really was, leaving the dollar's dip open to reversal. U.S. Federal Reserve Governor Philip Jefferson reiterated overnight that inflation was policymakers top target and that growth would suffer in efforts to bring it down. U.S. labour data due on Friday will be the next major indicator of the likely trajectory of U.S. rates.
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breeze air got a direct flight for cheap from Jax lol. never have to have cold coffee again @Math
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By Tom Balmforth KYIV (Reuters) -Ukraine made its boldest claim yet of success on the battlefield in its week-old counter-offensive against Russian forces in the south, while European markets reopened on Monday in free-fall after Russia kept its main gas pipeline to Germany shut. After days of declining to give details about their new offensive, Ukrainian officials posted an image online of three soldiers raising a flag over a town in Kherson province, a southern region occupied by Russia since the war's early days. The image of the flag being fixed to a pole on a rooftop, purportedly in Vysokopyllya in the north of Kherson, was released as President Volodymyr Zelenskiy announced that Ukrainian forces had captured two towns in the south and one in the east. In an overnight address, he did not identify the locations. After months of enduring punishing Russian artillery assaults in the east, Ukraine has at last begun its long-awaited counter-attack, its biggest since it drove Russian forces away from the outskirts of Kyiv in March. Ukraine had kept most details of its new campaign under wraps so far, banning journalists from the frontline and offering little commentary in public, saying this was needed to preserve tactical surprise. Russia has publicly said that it has repelled assaults in Kherson. In a rare acknowledgment from the Russian side that the Ukrainian counter-offensive was spoiling Moscow's plans for territory it has seized, TASS news agency quoted a Moscow-installed official in Kherson as saying plans for a referendum to annex the region to Russia had been put on hold due to the security situation. Mark Hertling, a retired former commander of U.S. ground forces in Europe, said Kyiv's aim appeared to be to trap thousands of Russian troops on the east bank of the vast Dnipro River, destroying bridges the Russians now use for supplies and would need to escape. Russia had left "a force in Kherson, with a river at their back & limited supply lines", and Ukraine was hitting them with "precision weapons, confusing a RU force that already has very low morale and poor leadership," Hertling tweeted. REVERSING GAINS Zelenskiy's announcement that a town had been captured in the east was also notable, a suggestion Ukraine was taking advantage of pressure in the south to try to reverse some of the gains Russia made elsewhere in recent months. In his evening address on Sunday, Zelenskiy tempered his announcements of success with a warning to European countries that they could face a cold winter. Moscow blames Western sanctions it says have interfered with repairs of equipment for forcing it to halt the flow of gas through Nord Stream 1, its main pipeline to Germany. Russia was due to reopen the pipeline on Saturday but has announced that it will stay shut indefinitely. "Problems with gas supply arose because of the sanctions imposed on our country by Western states, including Germany and Britain," Kremlin spokesman Dmitry Peskov said on Monday. European countries call the gas cut-off blackmail. They say they are finding alternative sources of gas and are already ahead of targets in filling up storage tanks for winter. Countries led by Germany have rolled out multi-billion euro packages of support for consumers and businesses, which last week helped drive European gas prices back down sharply from record highs. BLEAK WINTER But the weekend news about Nord Stream's extended shutdown sent prices soaring once again on Monday, with the main European benchmark up by around a quarter, bringing fears of a bleak winter for consumers and businesses across the continent. Germany's DAX share index was down well over 2%, the Euro sank below 99 U.S. cents for the first time in decades, and a new prime minister taking over in Britain would find the pound cratering to mid-1980s levels. Kremlin spokesman Peskov also said Moscow planned to retaliate for the latest Western move: a proposed cap on the price of Russian oil exports from December designed to reduce Moscow's main source of income. In Russia, which has effectively banned all independent media since President Vladimir Putin launched his "special military operation" in February, a judge revoked the license of stalwart liberal newspaper Novaya Gazeta, one of the last unofficial voices. The ruling was "a political hit job, without the slightest legal basis", said its editor, Dmitry Muratov, who won last year's Nobel Peace Prize for the paper's fight for free speech. Novaya Gazeta was founded 30 years ago with Nobel Peace Prize money won by the previous Russian laureate - former Soviet leader Mikhail Gorbachev, who was buried at the weekend. Putin declined to attend his funeral, a final symbolic snub of the man who presided over the breakup of the Soviet Union, when Ukraine was the most populous of 14 states to gain independence from Moscow. With fighting shifting to southern Ukraine, international attention has focused in recent weeks on the Zaporizhzhia nuclear power station, captured by Russia but still operated by Ukrainian engineers and hooked to Ukraine's power grid. Both sides accuse each other of risking nuclear catastrophe by shelling near the plant. Russia has resisted international pleas to withdraw its forces from the facility and demilitarise the area. An International Atomic Energy Agency mission reached the plant last week after crossing the frontline. Ukraine's operator, Energoatom, said on Monday two IAEA experts would stay on indefinitely at the plant.
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By Tom Balmforth KYIV (Reuters) - European leaders sought to ease the impact of high energy prices across the continent after Ukrainian President Volodymyr Zelenskiy warned of a difficult winter, even as he reported progress in a counter-offensive against Russian troops. In Sunday's nightly remarks, Zelenskiy thanked his forces for taking two settlements in the south and a third, along with additional territory, in the east, citing "good reports" from his military commanders and intelligence head. Kyrylo Tymoshenko, deputy head of the president's office, earlier posted an image of soldiers raising the Ukrainian flag over a village he said was in the southern area that is the main focus of the counter-offensive. "Vysokopillya. Kherson region. Ukraine. Today," Tymoshenko wrote on Facebook (NASDAQ:META) over a photograph of three soldiers on rooftops, one of them fixing a Ukrainian flag to a post. Ukraine began the counter-offensive last week targeting the south, particularly the Kherson region, which Russia seized early in the conflict. After Ukrainian forces' intense shelling of clusters of Russian troops in the region, the Russians have banned movement of residents, forbidding them to cross the Dnipro River, the Ukrainian general staff said on Monday. Russia has launched 25 missile strikes, and more than 22 air strikes, on military and civilian targets in Ukraine in the last 24 hours, the statement added, keeping up its focus on establishing full control over the Donetsk region. Zelenskiy's remarks came a day after he warned Europeans that Russia was preparing "a decisive energy blow" during the cold months ahead. Moscow has cited Western sanctions and technical issues for the energy disruptions. European countries, which have backed Kyiv with diplomatic and military support, have accused Russia of weaponising energy supplies. Some analysts say the shortages and a surge in living costs as winter approaches risk sapping Western support for Kyiv as governments try to soothe disgruntled populations. Last week Moscow said it would keep closed the Nord Stream 1 pipeline, its main gas channel to Germany, while G7 countries announced a planned price cap on Russian oil exports. The Kremlin said it would stop selling oil to nations that adopted the cap. German Chancellor Olaf Scholz said on Sunday his government had been planning for a total halt in gas deliveries in December, promising measures to lower prices and tie social benefits to inflation. "Russia is no longer a reliable energy partner," Scholz told a news conference in Berlin. In response, former Russian President Dmitry Medvedev accused Germany of being an enemy of Russia. "In other words, it has declared a hybrid war on Russia," he said. On Sunday, Finland and Sweden announced plans to offer billions of dollars to power companies to avert the threat of insolvency amid the crisis. Separately, the U.S. embassy in Moscow said John Sullivan, the ambassador appointed by former President Donald Trump in 2019, had left his post and was retiring. A State Department official said Sullivan had served a typical tour length. EYES ON ZAPORIZHZHIA NUCLEAR PLANT Russian authorities said the situation was calm around the Russian-occupied Zaporizhzhia nuclear plant in southern Ukraine, after U.N. inspectors said on Saturday it had again lost external power. Three strong explosions were heard in Energodar, the curfew-bound city where the plant is located, but there were no immediate details of damage and casualties, Russia's official TASS news agency said on Monday. Ukrainian troops made two attempts to deploy assault teams in the vicinity of the city, it said, adding that they were using drones, heavy artillery and rocket launching systems. The last main external power line was cut off, although a reserve line kept up electricity supply to the grid, the International Atomic Energy Agency (IAEA) said. Only one of its six reactors remained in operation, it said. Russian troops seized the plant shortly after President Vladimir Putin sent his army over the border on Feb. 24. It has become a focal point of the conflict. Each side has blamed the other for shelling that has raised fears of a nuclear disaster. Vladimir Rogov, a pro-Russian official in the Zaporizhzhia region, told Komsomolskaya Pravda radio that there had been no shelling or incursions, and that IAEA experts were expected to work at the plant until at least Monday. Last week an IAEA mission toured the plant, which is still operated by Ukrainian staff, and some experts have stayed there pending the release of an IAEA report. Russia has resisted international calls to demilitarise the area. On other battlefronts, Ukrainian Telegram channels reported explosions at the Antonivsky bridge near the city of Kherson, occupied by Russian forces. Ukrainian missiles have severely damaged the bridge over the past weeks, but Russian troops were trying to repair it or to set up a pontoon crossing or barges to maintain supplies to their units on the right bank of the Dnipro River.
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Alcuni finanzieri cinesi si oppongono all'appello di Pechino per il salvataggio del settore immobiliare - Fonti. https://www.reuters.com/world/china/exclusive-some-chinese-financiers-cold-shoulder-beijings-property-rescue-call-2022-08-25/
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EIA NATGAS REPORT HAS US storage at near 5 year lows, EU gas prices thru the roof.... cold winter could be mayhem
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