Monday, 21 October 2024
The Mighty Headlines
· Economics: US budget deficit reaches $1.8 trillion
· Business: Boeing reaches tentative 35 per cent pay rise for striking workers
· Markets: Netflix share price increases by 11 per cent on sales results
· Foreign Affairs: Ex-army general sworn in as Indonesia’s new President
· Security and intelligence: US warns Israel over operations in Lebanon
· Domestic politics: UK Foreign Secretary visits China, Indonesia and South Korea
The Mighty Stats
· FTSE = 8,358.25 (down 0.32 per cent at Friday close)
· S&P 500 = 5,864.67 (up 0.40 per cent at Friday close)
· Nasdaq = 18,489.55 (up 0.63 per cent at Friday close)
· CAC40 = 7,613.05 (up 0.39 per cent at Friday close)
· £1 = $1.30 / €1.20
· UK: Con / Lab / Reform = 25 / 28 / 20 per cent
· US swing states: Trump / Harris
· Michigan 48.8 47.6 Trump +1.2
· Pennsylvania 48.1 47.4 Trump +0.7
· Wisconsin 48 47.8 Trump +0.2
· Arizona 49 47.4 Trump +1.6
· North Carolina 48.4 47.9 Trump +0.5
· Georgia 48.8 47 Trump +1.8
· Nevada 47.7 46.9 Trump +0.8
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The Mighty Detail
Economics: The United States budget deficit stands at $1.8 trillion, an increase of 8 per cent from the previous year. United States Government debt has increased to $35.7 trillion and interest payments stand at $1.16 trillion. The IMF meeting this week will focus on countries’ increasing debt levels and the threat these pose to economic stability.
Business: Boeing is moving closer towards resolving an ongoing strike by its workers after the union said on Saturday it would present a 35 per cent wage increase to its workers on Wednesday. Boeing is the US’s largest exporter and contributes an estimated $79 billion to the US economy. The strikes began on the 13 September.
Markets: Shares in Netflix rose by 11 per cent by end of trading of Friday and by 42 per cent year to date. The streaming company’s revenue rose by 15 per cent over the year to $9.8 billion – exceeding expectations. Netflix added 5 million subscribers in Q3 2024.
Foreign Affairs: Prabowo Subianto was sworn in as Indonesia’s president yesterday. Subianto, 73, is a former military general and defence minister. He stood on a platform of continuity, taking over from the popular former President Jao Widodo. Indonesia, with a population of 282 million is the world’s most populous Muslim-majority country.
Security and intelligence: The United States Defence Secretary, Lloyd Austin, has said that Israel should scale back its operations in Lebanon. Austin said the number of civilian casualties was “far too high”. Last week, Austin and Secretary of State Anthony Blinken, told Israel to improve the humanitarian situation in Gaza or face restrictions on US military aid.
Domestic politics: The UK Foreign Secretary, David Lammy, visited Indonesia on Sunday before travelling to South Korea. On Friday, Lammy visited China where he said that “more diplomacy” was needed with China “not less”.
The Mighty Calendar
What’s happening today?
Commonwealth Heads of Government Meeting begins, Samoa
UK Foreign Secretary visits South Korea
IMF and World Bank annual meetings begin, Washington D.C. (ends Saturday)
Home Office Questions in UK Parliament
Employment Rights Bill introduced to UK Parliament (Second Reading)
Germany and South Korea PPI inflation data (September)
UK house price data (October)
New Zealand trade data (September)
Lookahead to tomorrow
Russia hosts 16th annual BRICS Summit (Brazil, Russia, India, China, South Africa)
IMF publishes World Economic Outlook report
Foreign Office Questions in UK Parliament
Japan CPI inflation data (annual figures)
UK government borrowing data (September)
UK, Italy, Germany, France car registration data (September)
Bank of England Governor speaks at Bloomberg Global Regulation Forum, New York
Company results from: Verizon, 3M Company, InterContinental Hotels, Lockheed Martin, L’Oreal, General Motors
The Mighty Finale
🌤️Weather today
Dry all day in London. High of 15oC and low of 7oC. Patchy rain in Belfast and Edinburgh.
✏️Life coaching quote of the day
“The most important single factor that guarantees good results, day in, day out, all the months and years of our lives, is a healthy attitude…Our attitude tells the world what we expect in return. If it’s a cheerful, expectant attitude, it says to everyone with whom we come in contact that we expect the best in our dealings with our world. You see, we tend to live up to our expectations. And others give to us, as far as their attitudes are concerned, what we expect.” – Earl Nightingale, motivational speaker
Mighty takeaway: We’ve included an extra-long life coaching quote today but we think you’ll agree it’s worth the extra detail. Your attitude in life really is the key to your happiness and success.
That’s it for this Monday. Thank you for reading today and we hope you have a happy and successful week.
Cheerio!
The Mighty Memo team
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