Tuesday, 8 October 2024
The Mighty Headlines
Economics: Retails sales grow in Eurozone
Business: Trump promises up to 200 per cent tariffs on Mexican auto imports
Markets: Brent crude oil surpasses $80 a barrel
Foreign Affairs: President of Tunisia wins another term in office
Security and intelligence: Terrorist attack in Pakistan targets Chinese workers
Domestic politics: UK PM calls for ceasefire in Lebanon and Gaza
The Mighty Stats
FTSE = 8,303.62 (up 0.28 per cent at Monday close)
S&P500 = 5,695.94 (down 0.96 per cent at Monday close)
Nasdaq = 17,923.90 (down 1.18 per cent at Monday close)
CAC40 = 7,576.02 (up 0.46 per cent at Monday close)
£1 = $1.31 / €1.19
US: Trump / Harris = 46.8 / 48.9 per cent
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The Mighty Detail
Economics: Retail sales in the Eurozone grew by 0.2 per cent in August. Factory orders in Germany, however, fell by 5.8 per cent in the same month. This was worse than the 2 per cent decline in factory orders expected. The euro fell below $1.10 on the news.
Business: Donald Trump has indicated he could put 200 per cent tariffs on vehicles from Mexico if he is re-elected President. Trump has previously said that he would impose 100 per cent tariffs in order to support the US auto industry. The President was speaking in the swing-state of Wisconsin – his fourth visit to the state in eight days.
Markets: The price of oil rose to over $80 a barrel yesterday following the continuing tensions in the Middle East. Last week, Brent crude oil rose by more than 8 per cent – the highest weekly increase since the beginning of 2023.
Foreign Affairs: The President of Tunisia, Kais Saied, has secured another term in office with 90 per cent of the vote. Saied faced two rivals, one of whom was jailed last month. A total of 14 other potential candidates were also barred from running.
Security and intelligence: The Chinese Embassy said yesterday that two Chinese workers were killed in a terrorist attack in Karachi, Pakistan on Sunday. The Baloch Liberation Army (BLA), which seeks independence from Pakistan, claimed responsibility. The BLA believes ethnic Baloch residents are not receiving their share of wealth from Chinese investments in the region.
Domestic politics: Speaking in Parliament yesterday, the Prime Minister called for an immediate ceasefire in Lebanon and for Hezbollah to move back north of the Litani River. Sir Keir also called for the return of the Israeli hostages, a ceasefire in Gaza and a two-state solution.
The Mighty Calendar
What’s happening today?
Germany industrial production data (August)
Energy Questions in UK Parliament
European Parliament Debate on the Middle East
French trade data (August)
United States trade data (August)
Canada trade data (August)
Lookahead to tomorrow
South Korea public holiday
General Election in Mozambique
Prime Minister’s Questions in UK Parliament
Renters’ Rights Bill Debate (Second Reading) in UK Parliament
Conservative MPs vote in fourth round of Party Leadership election
Germany trade data (August)
Mexico and Brazil CPI inflation data (September)
Japan PPI inflation data (September)
The Mighty Finale
🌤️Weather today
Thundery showers in London. High of 18oC and low of 13oC. Heavy rain in Belfast and Edinburgh. Autumn is definitely here!
✏️Life coaching quote of the day
“First tell yourself what kind of person you want to be, then do what you have to do. For in nearly every pursuit we see this to be the case. Those in athletic pursuit choose the sport they want, and then do that work.” – Epictetus, Ancient Greek philosopher
Mighty takeaway: If you imagine your successful self in the future, what would they be doing today to achieve your dreams? Take that action today.
That’s about it for today’s edition. Thank you so much for reading to the end! If you like what you read or don’t like it at all, let us know. And do pass this newsletter on to someone who might find it useful.
Adios!
The Mighty Memo team