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Goldman Sachs has lowered its Brent crude oil price target for December 2025 to $71 per barrel, citing expectations of slower GDP growth influenced by President Trump's tariff policies. The firm anticipates reduced oil demand and higher OPEC+ supply, as geopolitical tensions ease supply concerns. Recent data indicates a shift in market focus from supply risks to economic growth, with tariffs expected to impact the U.S. economy further.
Gold prices remain near record highs, hovering around $3,000 an ounce, driven by safe haven demand amid trade tariff uncertainties and geopolitical tensions in the Middle East. UBS has raised its price target for gold to $3,200 per ounce, reflecting increased investor interest in gold ETFs as a stable investment during turbulent times.Copper prices are steady, supported by expectations of stimulus measures from China, while concerns over potential U.S. tariffs on copper imports could tighten supplies.
Starlink, popular in the UK for providing internet to rural areas, faces user backlash over Elon Musk's political actions, with some subscribers considering alternatives. As dissatisfaction grows, companies like Eutelsat and Viasat are exploring options to replace Starlink, which has seen its user base rise from 13,000 to 87,000 in three years. Despite the unease, many users remain reliant on Starlink for connectivity.
Arizona Democratic Senator Mark Kelly has announced he is parting ways with his Tesla, citing CEO Elon Musk's behavior as a primary reason. Following a contentious exchange on social media, Kelly expressed discomfort with driving a vehicle that he feels represents Musk's controversial actions, stating, “I don’t want to drive a car built and designed by an asshole.” This sentiment reflects a growing trend among high-profile Tesla owners who are distancing themselves from the brand amid Musk's polarizing public persona.
Elon Musk is facing significant challenges, including a Tesla stock selloff and backlash over his role in the government initiative Doge, leading to a $22 billion drop in his net worth. Amid escalating protests and a cyberattack on his social media platform, Musk is doubling down on his political ties, recently appearing with Trump to promote Tesla, which has drawn mixed reactions and further protests against the company.
Donald Trump recently held a press conference to promote Tesla, praising Elon Musk and the brand's features while vowing to buy a car. This comes amid growing protests against Musk, with Tesla's stock plummeting and vandalism being labeled as "domestic terrorism" by Trump. Musk's net worth has significantly decreased, reflecting the backlash against his leadership.
Vice President JD Vance acknowledged Elon Musk's "mistakes" in mass firings within the federal government, emphasizing the need to learn from these errors while recognizing the valuable contributions of many government employees. He also discussed economic challenges, attributing them to previous administration policies, and expressed his commitment to promoting American values in foreign policy, despite recent controversies. Vance remains focused on his role rather than future political ambitions, highlighting the importance of making a positive impact during his tenure.
The recent meeting in Jeddah marked a pivotal moment in U.S.-Ukraine relations, resulting in a temporary ceasefire agreement contingent on Russia's compliance. Despite ongoing hostilities, including Ukraine's significant drone strikes and Russia's counteroffensive in Kursk, the focus now shifts to whether Russia will genuinely pursue peace. The Ukrainian people, weary from the conflict, continue to seek security guarantees to prevent future aggression.
Elon Musk has called for the US to exit NATO, arguing it "doesn't make sense" for America to fund Europe's defense. His comments come amid rising tensions between the US and European allies, echoing former President Trump's criticisms of European defense spending and threats to withdraw from the alliance. As Europe seeks to bolster support for Ukraine, the US appears to be distancing itself, with Trump recently pausing military aid.
Elon Musk has expressed support for the U.S. exiting NATO, stating it doesn't make sense for America to fund European defense. This aligns with the Trump administration's ongoing criticism of NATO, particularly regarding defense spending by member countries. The future of U.S. NATO membership remains uncertain, as any changes require Senate approval.
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goldman sachs lowers oil price target amid slower economic growth expectations
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gold prices near record highs as geopolitical tensions and tariffs rise
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