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March 30th - According to the New York Times, a knowledgeable U.S. official revealed that the U.S. Coast Guard has allowed a Russian oil tanker fully loaded with crude oil to proceed to Cuba, providing Cuba with a much-needed energy supply. This comes months after the Trump administration implemented an effective oil blockade. According to marine data provider Ocean Traffic, the Russian-owned tanker, carrying approximately 730,000 barrels of oil, was less than 15 miles from Cuban territorial waters on Sunday afternoon. Sailing at 12 knots, the ship was expected to enter Cuban waters Sunday evening. The tanker is expected to arrive at the Cuban port of Matanzas on Tuesday.According to the New York Times: The United States will allow Russian oil tankers to travel to Cuba.March 30 - According to the New York Times, the arrival of 2,500 Marines and another 2,500 Navy personnel brings the total number of U.S. troops in the Middle East to over 50,000, about 10,000 more than usual. While the specific missions of the Marines from the 31st Naval Expeditionary Unit are currently unclear, U.S. officials have indicated that Trump is considering a larger offensive, such as an attempt to seize an island or other land, as part of his efforts to open the Strait of Hormuz.Two oilfield engineers said production at Libya’s Sharara oil field is expected to return to normal levels within 48 hours.According to Irans Mehr News Agency, the Iranian Deputy Energy Minister stated that the power outage in eastern Tehran has been resolved.

S&P 500 Drops 0.8% As Tesla Falls To New Lows

Jimmy Khan

Jan 04, 2023 14:22

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Tesla, Apple, and Energy Stocks Are Leading the Sell-Off

In the first trading day of the year, the S&P 500 came under a lot of stress. The heavily tech-focused NASDAQ Composite fell by more than 1%.


As traders responded to the sell-offs in the oil and natural gas markets, the energy sector led the decline. Ones of the greatest loses in the S&P 500 were APA Corporation, followed by EQT Corporation and Coterra Energy.


The S&P 500's worst-performing stock today was Tesla, which dropped to new lows after the publication of the unimpressive Q4 deliveries report. The price of Tesla shares has decreased by roughly 15% so far today.


Apple was one of the largest losers as well. As a result of news that it reduced orders for Apple Watch, MacBooks, and AirPods, the stock fell by 4%. NVIDIA, which is down 2.5%, has been the semiconductor stock market's biggest decliner.


From a broad perspective, investors are not prepared to take on more risk at the beginning of the year. Recession fears were emphasized by today's Manufacturing PMI survey, which revealed that the indicator fell for the third consecutive month. Today, traditional safe-haven investments including the US currency, gold, and Treasury bonds saw gains.

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