{"id":558,"date":"2023-04-04T13:08:36","date_gmt":"2023-04-04T12:08:36","guid":{"rendered":"https:\/\/hcfx.sofyma.com\/?p=558"},"modified":"2023-04-26T17:21:55","modified_gmt":"2023-04-26T16:21:55","slug":"morning-update-5","status":"publish","type":"post","link":"https:\/\/hamiltoncourtfx.com\/es\/morning-update-5\/","title":{"rendered":"Morning Update"},"content":{"rendered":"
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Today sees Finland become the 31st member of Nato as the military alliance gains a further 1,300km border with Russia. Nato Secretary General Jens Stoltenberg said that “We will raise the Finnish flag for the first time here at Nato headquarters. It will be a good day for Finland’s security, for Nordic security and for Nato as a whole.”<\/p>\n

Their accession follows a vote which saw the Turkish parliament approve Finland\u2019s membership of Nato. This follows almost a year\u2019s worth of political back-and-forth with President Recep Tayyip Erdogan\u2019s u-turning several times over whether to veto Helsinki\u2019s accession or not. In recent weeks however Erdogan has favoured their membership backed Finland joining, though he remains against Sweden\u2019s accession. <\/p>\n <\/div>\n

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Helsinki had previously pursued a policy of neutrality, however the Russian invasion of Ukraine saw the eduskunta change tact. Moreover, public opinion also underwent a sea change with around 80% of Finns favouring joining Nato \u2013 up from around 1\/3rd before the invasion. <\/p>\n

In Moscow, Alexander Grushko, Russia\u2019s deputy foreign minister, said that Russia would increase its forces in its west and north western regions, near Finland if necessary. <\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n

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Equities Update<\/h2>\n <\/div>\n
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Equity markets were lifted by energy stocks yesterday after oil rallied following OPEC+ announcement to cut oil production by over 1m barrels per day. This saw the S&P 500 energy sector index rise close to 5% while giants including Chevron and Exxon Mobil appreciated more than 4%.<\/p>\n

In the US, this saw the S&P 500 gain 0.37%, while the Dow Jones climbed just shy of 1%. Meanwhile the teach heavy Nasdaq lost just over a quarter-of-a-percent with Tesla\u2019s 6% slump weighing down the index.<\/p>\n

Over Q1 2023, the S&P 500 rallied 7% while the Nasdaq soared 17%.<\/p>\n

In a similar fashion to the US, the FTSE 100 was buoyed by an uptick in energy stocks which saw the blue-chip index rise around half-a-percent. Here, BP and Shell rose over 4%. On the continent however, fears over the implications that rising energy prices could have on inflation saw the Stoxx 600 end the first session of the week more or less flat.<\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n

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Tesla Stock Fall 6% As Investors Weigh on Price Cuts<\/h2>\n <\/div>\n
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Despite a series of price cuts, investors remained underwhelmed at Tesla\u2019s modest 4% rise in quarterly sales raising questions over whether further price cuts would be needed in order to gain more of the mass market. Data also indicated that in the last 12 months Tesla produced 78,000 more cars than it has sold with subsequent investor concerns seeing Tesla\u2019s stock fall 6%.<\/p>\n

Tesla continues to be the most valuable car company, but investors remain unconvinced at Musk\u2019s plans to tap into the mass market. For example, earlier this year, investors remained unenthused atter Tesla unveil a hotly anticipated smaller, lower price car to enable them to capture more of the market. This comes a few years after Musk unveiled Tesla\u2019s hopes to develop a cheaper proprietary battery \u2013 the 4680 \u2013 which he claimed would enable the company to deliver a car for around $25,000 by 2023. Nevertheless, production of the 4680 batteries has failed to gather sufficient steam, and the company have just unveiled plans to move their battery production chiefly to the US, from Germany to further boost production.<\/p>\n

Tesla\u2019s electric cars currently have base price ranges between $43,990-$129,990 with the Model 3 \u2013 which has a range of 267 miles \u2013 being the least expensive. Thus, investors consider Tesla\u2019s ability to bring the entry level price down as critical to tapping into the mass market. According to the Guardian: \u201cTesla\u2019s chief financial officer, Zach Kirkhorn, estimated the company would need to invest six times more than it has to date to hit its long-term target of increasing output to 20m vehicles annually, a 10-fold increase from current capacity. The bill could be $175bn, he said. Capturing the mass market is critical to Tesla\u2019s goal of increasing deliveries 15-fold \u2013 to 20m vehicles \u2013 by 2030.<\/p>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n

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Today is a little light on data, however this morning markets saw the RBA meet expectation in keeping rates unchanged at 3.6%. Following Ottawa, this marks another central bank to opt against further monetary tightening as investors weigh on the Fed, BoE and ECB\u2019s next move. <\/p>\n<\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Finland Joins Nato<\/p>","protected":false},"author":15,"featured_media":559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"rp-language":[16],"class_list":["post-558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-morning-updates","rp-language-en_gb"],"_links":{"self":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts\/558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/comments?post=558"}],"version-history":[{"count":2,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts\/558\/revisions"}],"predecessor-version":[{"id":561,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/posts\/558\/revisions\/561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/media\/559"}],"wp:attachment":[{"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/media?parent=558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/categories?post=558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/tags?post=558"},{"taxonomy":"rp-language","embeddable":true,"href":"https:\/\/hamiltoncourtfx.com\/es\/wp-json\/wp\/v2\/rp-language?post=558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}