Commerce Secretary Lutnick Confident About Reaching EU Trade Deal
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Morning Bid: Could have been worse, is enough for the yen
A look at the day ahead in European and global markets from Wayne Cole As far as investors are concerned, Japan's upper house election has been a sell on the rumour, buy (a little) on the fact. Japanese markets are closed for the Marine Day public holiday so liquidity has been lacking, but so far the yen is up a shade on the dollar and euro while Nikkei futures traded in Chicago are much in line with Friday's cash close. Wall Street futures are up a fraction and European futures down a touch. While the ruling coalition lost control of the upper house, by three seats, Prime Minister Shigeru Ishiba seems to be safe for now, though he will have to find support from minor parties to pass legislation. The government can also continue its fraught tariff negotiations with the U.S. administration. The talks still seem deadlocked, partly over agricultural imports which are politically and culturally very sensitive for Japan, as President Donald Trump's arbitrary August 1 deadline approaches fast. The European Union is in much the same situation. U.S. Commerce Secretary Howard Lutnick says he's confident a deal can be struck, but the EU side is preparing a list of U.S. products for retaliation levies. The EU is also trying to use China as leverage with Commission President Ursula von der Leyen and Council President Antonio Costa meeting with President Xi Jinping there on Thursday. Meanwhile, reports suggest Trump might meet Xi sometime in October or November, with the U.S. already having allowed the export of chips to China apparently in return for a resumption of rare earth shipments. Markets are assuming the worst will be avoided on tariffs, though analysts suspect the effective U.S. tariff rate could well be a bit above the 1930's levies that contributed so much to the Great Depression. Much of that optimism rests on earnings with the first of the mega caps reporting this week in the shape of Alphabet and Tesla. Results from Lockheed Martin and General Dynamics should also confirm the windfall from a ramp up in global defence spending. The diary for the rest of Monday is virtually blank, but there's always Trump to watch. Key developments that could influence markets on Monday: - No major data or central bank speakers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Private carrier Flexjet valued at $4 billion in latest funding round, Financial Times reports
(Reuters) -U.S. private jet operator Flexjet raised $800 million in a funding round led by LVMH-backed private equity firm L Catterton, valuing the company at about $4 billion, Financial Times reported on Monday. The funding comes as Flexjet looks to expand its fleet to meet rising demand from technology and cryptocurrency entrepreneurs, the report said. "We have a tremendous amount of different types of entrepreneurs this year. . . in the tech space but also Bitcoin, they become so speculative and so there is rapid wealth in that industry," Flexjet Chair Kenn Ricci told the newspaper. Flexjet did not immediately respond to a Reuters request for comment. Earlier in February, Brazilian planemaker Embraer signed a purchase deal worth up to $7 billion with Flexjet for a fleet of Phenom and Praetor executive jets, including firm orders for 182 aircraft and options for another 30. Analysts at JPMorgan expect the deal to increase Embraer's total backlog by about 26% to $28.7 billion, forecasting deliveries over the next five years, as Flexjet plans to double its fleet during the period. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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GCT Semiconductor (GCTS) Delivers Latest 5G Chips for Testing
GCT Semiconductor Holding, Inc. (NYSE:GCTS) is one of the 11 Best Semiconductor Penny Stocks to Buy According to Hedge Funds. On June 11, GCT Semiconductor Holding, Inc. (NYSE:GCTS) shared that it has started delivering its new 5G chipsets to its customers for testing. Some of the customers are Airspan Networks and Orbic North America, LLC. The company plans to keep sending out more samples to complete the initial demand from its lead customers. GCT Semiconductor Holding, Inc. (NYSE:GCTS) are providing these samples in both chip and module forms, depending on what each customer wants. A technician in a lab coat inspecting a semiconductor processor on a microscope. Once the testing process is complete, the company will work with its customers to enhance device performance and to determine production demands. GCT Semiconductor Holding, Inc. (NYSE:GCTS) is ready to meet the demand because of its strong supply chain and experience in delivering high-performance solutions. Initially, GCT Semiconductor Holding, Inc. (NYSE:GCTS) is focusing on mid-tier applications and immediate demand for the growing 5G market, which will include developing a Verizon-certified module. GCT Semiconductor Holding, Inc. (NYSE:GCTS) is a fabless designer that delivers advanced 5G and 4G LTE semiconductor solutions. While we acknowledge the potential of GCTS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
