B↑2📆 Markets
PPI rose 3.3% YoY in December, up from 3.0% in November. Trump administration will levy a month-by-month roll-out of tariffs, not all at once. Market mixed. M7 falls. Financials, Utilities, Industrials, Materials in the blue. Energy sector sees rally since mid-December as Trump support domestic oil & gas industries and sanction Russia’s.
B↑2📆 Headline Digest
• Musk accused by SEC of cheating Twitter investors out of millions
SEC claims Musk failed to report a section 13(d) filing which one must after accumulating more than 5% equity.
• December CPI report expected to show sticky inflation as investors recalibrate rate cut bets
Dec CPI is to be released at 8:30am ET Wednesday.
• German economy contracts 0.2% in 2024 in second consecutive annual slowdown
German economy contracted 0.3% in 2023.
• Nvidia-backed AI video platform Synthesia doubles valuation to $2.1 billion
The British firm Synthesia, makes AI generated clips of multilingual human avatars.
• Meta announces 5% cuts in preparation for ‘intense year’ — read the internal memo
Low performers will be let go by Feb 10.
• Oil steadies near $80 as IEA sees smaller surplus this year
• IEA says new US sanctions could significantly disrupt Russian supply
US sanction from last Friday listed 160 tankers, which accounts for 22% of Russian seabourne oil exports.
• China’s Central Bank pumps near-historic level of cash into financial system
PBOC injected $131b of cash in open market operation reverse repurchase agreement
• Tesla to suspend part of new Model Y lines in China for upgrades, Bloomberg News reports
• These Chinese apps have surged in popularity in the U.S. A TikTok ban could ensnare them
The Chinese Lemon8 and RedNote has seen a surge in popularity.
• South Korea’s President Yoon Suk Yeol arrested as agencies probe his short-lived martial law decree
