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Switzerland seeks a free trade agreement with the US to enhance market access for its exporters, especially amid rising trade barriers. While the Biden administration favors collaboration, the potential return of Trump could reignite tariffs, impacting Swiss businesses reliant on the US market. Harris's approach may favor negotiations with allies, which could benefit Switzerland amidst US-China tensions.
Weaker crude prices and refining margins are pushing four of the five supermajor oil companies to borrow funds for $15 billion in share buybacks this quarter, raising concerns about the sustainability of these payouts. Exxon Mobil, Chevron, TotalEnergies, and BP are projected to see a 12% decline in earnings, totaling $24.4 billion, leaving them unable to cover dividends and buybacks with free cash flow, which is expected to drop by 30% year-over-year. Only Shell is expected to manage its payouts without borrowing.
Copper, known as "the gold of the energy transition," is experiencing a significant correction after peaking in May, driven by weak economic data from the USA and China. Experts suggest this downturn may present a strong entry opportunity for investors, with predictions of a super cycle due to supply shortages. Additionally, three promising copper stocks are highlighted as potential beneficiaries of a future price increase.
Egypt is conducting a comprehensive survey to assess the effects of significant economic reforms on its population, collaborating with the International Monetary Fund to protect the most vulnerable. Discussions during IMF chief Kristalina Georgieva's upcoming visit to Cairo will focus on the readiness of social protection programs and a potential review of the $8 billion loan deal amid regional instability.
The Ministry of Consumer Affairs is considering action against FMCG giants for not displaying best-before dates on their online platforms, following notices sent to e-commerce sites. This scrutiny arises from a growing trend of selling products close to their expiry dates, violating the Legal Metrology Rules. A recent survey revealed that 57% of consumers found best-before dates missing from these platforms, an increase from 50% in 2023.
The Nasdaq Composite reached an all-time high, closing the week up 0.2%, while the S&P 500 and Dow Jones snapped their six-week winning streaks due to disappointing earnings from major companies. Japan's ruling coalition lost its parliamentary majority, contributing to a weaker yen, while China's industrial profits plummeted 27.1%, marking the steepest decline since the pandemic began. Oil prices fell over 4% amid geopolitical tensions, and investors are looking ahead to a busy week of earnings reports and economic data.
Tesla shares surged to a new October high, closing the week with a 22% gain after strong quarterly results led to a 21.9% jump on Thursday. The stock reached USD 269.19, with resistance at USD 271.00 and potential targets up to USD 299.29, while support levels are now at USD 265.13 and USD 264.86.
Big Pharma has increased its lobbying efforts in the 2024 election, with significant contributions flowing to both Democrats and Republicans. Notably, Harris has received nearly $1.7 million from the pharma sector, while Trump garnered just over $300,000. Companies like Eli Lilly and Amgen are actively engaging in political donations, with Amgen favoring Republicans, while Roche and AstraZeneca show a slight Republican lean but with declining contributions.
Eni S.p.A is a global energy company engaged in the entire value chain, from oil and natural gas exploration to renewable energy generation and bio-refining. It markets gas, electricity, and products to local markets while offering energy efficiency and sustainable mobility services. Through technological innovation and strategic partnerships, Eni addresses the energy trilemma and continues to create value.
US government bonds rallied as the Federal Reserve signaled potential rate cuts in 2024, with the 10-year Treasury yield falling below 4%. While stocks, particularly quality and small-cap stocks, are expected to perform well amid slowing growth, the recent rally may limit further gains. The COP28 summit marked a pivotal moment in climate policy, with nations committing to transition away from fossil fuels and significantly increase renewable energy capacity by 2030.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
switzerland navigates us trade dynamics amid shifting political landscapes
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