Daily comment Jan 8
- Wall St opens flat amid political uncertainty
- Boeing 737-800 crashed in Iraq
- Tesla shares at a record high
- US Dec jobs came above expectations: ADP
- WTI -0.6%
- Boeing (-1.6%): Boeing 737-800 jet belonging to a Ukrainian airline crashed shortly after take-off from Tehran, killing all 176 people aboard. https://cnb.cx/2QA6W8A
- T-Mobile (+0.5%) reported a preliminary 1.9mn total net subscriber adds for Q4, bringing it to 7mn net adds for the year. 4Q results are due on Friday. https://bit.ly/303ta5O
- Tesla (+1.1%) became the largest US automaker company after its shares reached another record high.
- Iran attacked overnight US base in Iraq in response to killing its top general last week. Iranian officials said the strikes “concluded” their retaliation and Trump twitted “all is well!”. President Trump is expected to make further statements later today. https://on.wsj.com/36B09kE
- US non-farm payrolls rose by 202k in December vs est. 157k, according to ADP. https://cnb.cx/35zIkBh
- China reportedly suspending supply of gasoline containing 10% ethanol. https://reut.rs/2tHoZ3y
- WTI (-0.6%): Oil prices remain stable as the Iranian attacks overnight did not have material impact on oil supply.
- Meanwhile, two major tanker operators suspended deliveries though Strait of Hormuz amid risk of attacks. https://on.wsj.com/35CQJ6O
- ExxonMobil (-0.8%) announced its French Fos refinery shipments disrupted due to union workers strike. https://reut.rs/2FsiZhZ
- This week (1/7-1/10): CES 2020 conference in Las Vegas