Ukraine's customs service reveals how many drones Ukraine has imported
Ukraine has imported US$232.3 million worth of drones and US$43.4 million of drone components in the first two months of 2025.
Source: Ukraine's State Customs Service, as reported by Ukrinform news agency
Details: In January and February 2025, Ukraine imported 297 tonnes of unmanned aerial vehicles, totaling US$232.36 million.
Additionally, during the same period, goods classified under code 8807, which covers "parts of aircraft under commodity positions 8801, 8802, or 8806", were imported for US$43.42 million.
According to the State Customs Service, Ukraine imported US$1.17 billion worth of drones last year, while imports of drone components amounted to US$134.8 million.
In 2023, drone and component imports totaled US$440.7 million and US$16.86 million, respectively.
Background: One of Ukraine's largest FPV drone manufacturers, Vyriy Drone, has unveiled its first serial batch of fully domestically produced drones.
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Yahoo
38 minutes ago
- Yahoo
Deal gets US-China trade truce back on track: Trump
A deal getting the fragile truce in the US-China trade war back on track is done, US President Donald Trump says after negotiators from the United States and China agreed on a framework covering tariff rates. The deal also removes Chinese export restrictions on rare earth minerals and allows Chinese students access to US universities. Trump took to his social media platform to offer some of the first details to emerge from two days of marathon talks held in London that had, in the words of US Commerce Secretary Howard Lutnick, put "meat on the bones" of an agreement reached last month in Geneva to ease bilateral retaliatory tariffs that had reached crushing triple-digit levels. "Our deal with China is done, subject to final approval with President Xi (Jinping) and me," Trump said on the Truth Social platform. "Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55 per cent tariffs, China is getting 10 per cent." It was fantastic to team up with Secretary Scott Bessent and Ambassador Jamieson Greer. World-class team delivering world-class results for America. — Howard Lutnick (@howardlutnick) June 11, 2025 A White House official said the 55 per cent represents the sum of a baseline 10 per cent "reciprocal" tariff Trump has imposed on goods imported from nearly all US trading partners; 20 per cent on all Chinese imports because of punitive measures Trump has imposed on China, Mexico and Canada associated with his accusation that the three facilitate the flow of the opioid fentanyl into the US; and finally pre-existing 25 per cent levies on imports from China that were put in place during Trump's first term in the White House. Lutnick said the 55 per cent rate for Chinese imports is now fixed and unalterable. Asked on Wednesday on CNBC if the tariff levels on China would not change, he said: "You can definitely say that." Still, many specifics of the deal and details for how it would be implemented remain unclear. Officials from the two superpowers had gathered at a rushed meeting in London starting on Monday following a call last week between Trump and Chinese leader Xi that broke a stand-off that had developed just weeks after a preliminary deal reached in Geneva that had defused their trade row. The Geneva deal had faltered over China's continued curbs on critical minerals exports, prompting the Trump administration to respond with export controls preventing shipments of semiconductor design software, aircraft and other goods to China. Lutnick said the agreement reached in London would remove restrictions on Chinese exports of rare earth minerals and magnets and some of the recent US export restrictions "in a balanced way" but did not provide details after the talks concluded around midnight London time. "We have reached a framework to implement the Geneva consensus and the call between the two presidents," Lutnick said, adding that both sides will now return to present the framework to their respective presidents for approvals. "And if that is approved, we will then implement the framework," he said. In a separate briefing, China's Vice Commerce Minister Li Chenggang also said a trade framework had been reached in principle that would be taken back to US and Chinese leaders.
Yahoo
an hour ago
- Yahoo
Could the Fed be 'the real issue' for the economy amid tariffs?
President Trump has characterized trade negotiations with Chinese officials as being "not easy" as the two countries renew negotiations following a phone call between Trump and China's President Xi Jinping last week. Infrastructure Capital Advisors CEO and CIO Jay Hatfield comes on to talk about the impacts of tariffs on markets (^DJI, ^IXIC, ^GSPC) as the Federal Reserve contributes additional economic pressures. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Well, tech stocks leading the market rally once again, as the possibility of easing trade tensions lifts investor sentiment. President Trump saying China is quote, "not easy," as talks are set to resume today. Would a rift in the fragile US-China relationship derail the rally? Joining me now, we've got J. Hatfield, Infrastructure Capital Advisors CEO and chief investment officer. J, it's always great to speak with you. Talk to me about how you are viewing or potentially pricing a risk of these trade talks getting derailed. Thanks, Mandy. It's great to be on. Well, we have a completely non-consensus call that the, uh, all the trade talks, obviously China's the most important, but as a whole, are not that critical to the US economy. It's about 10% of the US economy. Um, the effective rates gonna be somewhere, probably between 10 and 15. That's less than a half percent of GDP. And meanwhile, energy prices, they were down 20, they're down about 15. That's a much more important driver of inflation. So, we're bullish. Inflation is going to come down, even tomorrow. We're forecasting below consensus. And so, we think that, although it's been the key driver this quarter, uh, earnings are going to be more important next quarter. So we're projecting a summer power rally. So, talk to me about the biggest risk to your outlook then. Is it that tariffs have a bigger impact than anticipated? Is it corporations holding off on hiring CapEx, and that leading to a slowdown? Like, where would you see the risks to that outlook? Well, everybody's focused on tariffs and how that's slowing the economy, but nobody's focused on the fact that the Fed has ultra-tight monetary policy. They're actually shrinking the money supply, which is very dangerous. They did that before the great financial crisis. Um, normally it grows at 5, it's shrinking at 1. So the real issue, so I agree with the president, which I don't always agree with him, but that the real issue is the Fed. They're slowing the housing market. It hasn't crashed because there's a shortage of housing. So I'd see the key risk is the Fed remains on hold because they're incapable of forecasting inflation, focused way too much on the expectations theory of inflation, which has been discredited, and failed to realize that tariffs even are a one-time cost. Should be analyzed as sales tax and ignored for inflation purposes. So, the three top risks to the market are the Fed, the Fed, and the Fed. So, it's it's a great overview, J, because you see the power rally coming, but the Fed could potentially derail it in your view. How should investors be positioned then to benefit from that, while also staying diversified to prevent against any, uh, potential downside risk? Well, our scenario is, so we're bullish about bonds and stocks. Our scenario assumes that the labor market continues to slow, and even though this Fed has zero ability to forecast inflation, they are obsessed with the labor market. They're almost all Keynesians, so they're all believe the labor market drives everything. We strongly disagree with that, but that's what they believe. So, we think this deceleration will continue. Inflation will continue to be, really low if you correct for shelter and that they will cut. So, we you know, we don't give like probabilities of this and that, and probability that an asteroid will destroy South America. We have a base case, we're going to stick to the base case. So we think that, uh, the number of cuts will be two to three, rates will come down, and we will get to the 6,600, which is 22 times next year's earnings. So what's the best way to benefit from that then, J? Well, we, um, are, uh, are recommending stocks that tend to be higher on the risk spectrum. So, financials, so like Goldman Sachs, Morgan Stanley, we think the private equity firms like KKR are a great way to play it. Uh, REITs, so uh, and industrials. So be on the risk side, don't be in McDonald's and Philip Morris, and Coke, because you're worried about a recession. We don't think there's going to be a recession, think rates are coming down. So we'd be aggressive on the picks and and go into companies that benefit from a booming stock market, or at least a increase in stock market, likely investment banks. J, always great to get your thoughts. Thanks so much. Thanks, Mandy.
Yahoo
an hour ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq rally pauses as cool inflation data boosts Fed rate cut hopes
US stocks paused on a recent rally Wednesday as investors digested a softer-than-expected inflation reading and assessed a US-China plan to salvage their trade truce. The Dow Jones Industrial Average (^DJI) was flat on the day, while the S&P 500 (^GSPC) slipped just under 0.3%. The tech-heavy Nasdaq Composite (^IXIC) led the declines, falling roughly 0.5%. Recently, the S&P 500 and Nasdaq have risen to within striking distance of record closing highs amid optimism for potential trade deals. Before the open, markets gave a muted response to a US-China framework agreement to get the Geneva tariff truce back on track. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earths and magnets. Trump said Wednesday that the US will allow Chinese students in US colleges, a sticking point that had emerged in the weeks following the countries' mid-May deal in Geneva. However, the deal was seen as lacking detail about export curbs and tariff levels. Read more: The latest on Trump's tariffs Stocks revived somewhat after a better-than-expected reading of the May Consumer Price Index (CPI) before the bell. Consumer inflation was up 0.1% month over month, Bureau of Labor Statistics data showed, compared with the 0.2% rise expected and the 0.2% increase in April. On a "core" basis, which excludes volatile food and energy costs, May CPI rose 2.8% year over year, matching April's rate. Monthly core prices increased 0.1%, versus a 0.2% gain the prior month. The data was in focus ahead of the Federal Reserve's next monetary policy decision on June 18. Odds of a September interest rate cut increased following the release, with markets pricing in a 57.2% chance versus 53.5% a day before, per the CME FedWatch tool. Treasury yields also fell, with the benchmark 10-year yield (^TNX) declining to 4.41%. 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The tech-heavy Nasdaq Composite (^IXIC) climbed about 0.2%. Platinum (PL=F) extended gains Wednesday, rising to its highest level in four years after trading sideways for about a decade. Platinum prices were up 4% Wednesday morning to trade at $1,261.40 an ounce. Prices of the metal, which is used in electric vehicles, jewelry, and industrial applications, have soared 40% year to date. Bloomberg reports that strained supply has caused prices to increase, particularly as President Trump's tariffs disrupted trade flows and output declined in South Africa, the world's largest platinum producer. From Bloomberg: Read more here. Inflation didn't pickup as much as Wall Street expected in May. The latest data from the Bureau of Labor Statistics showed that consumer prices increased 2.4% over the prior year in May, an increase from April's 2.4% and in line with economists' forecast for 2.4%. But all other closely watched metrics from the release came in below expectations. 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The US video game retailer announced net sales of $732.4M, down from $881.8M in the same period of 2024. Tesla (TSLA) stock rose 1% in premarket trading, after CEO Elon Musk backtracked on his comments towards President Trump. Musk said: 'I regret some of my posts about President @realDonaldTrump last week,' he said on his social-media platform, X. 'They went too far.' Victoria Secret's (VSCO) shares rose by 1% ahead of its earnings release on Wednesday. The retailer, which recently reported a cyberattack, is expected by analysts to reoort revenue of around $1.35B. Yahoo Finance's Allie Canal reports: Read more here. Gold prices are edging higher even after the US and China talks delivered a plan to ease trade tensions, a sign the market is not yet convinced of a breakthrough. Futures rose 0.7% to around $3,366 an ounce in early trading on Wednesday. Bloomberg reported: Read more here. US stocks took a breather on Wednesday as investors digested a softer-than-expected inflation reading and assessed a US-China plan to salvage their trade truce. The Dow Jones Industrial Average (^DJI) was roughly flat, losing just one point on the day, while the S&P 500 (^GSPC) sagged more than 0.3%. The tech-heavy Nasdaq Composite (^IXIC) led the declines, falling almost 0.6%. Oil surged more than 4% on Wednesday following a Reuters report that the US embassy in Iraq is preparing for a partial evacuation amid security threats. The surge came after the report, citing US and Iraqi sources, said employees were preparing for an ordered departure because of heightened risks in the area. West Texas Intermediate (CL=F) futures gained more than 4% to settle at $68.15 per barrel. Brent crude (BZ=F), the international benchmark, also jumped more than 4% to settle at $69.77 per barrel. Crude had rallied earlier in the session after President Trump said the US had reached a trade framework deal with China. Futures also gained after Trump said in an interview he was less confident that Washington would reach a nuclear deal with Iran, a top oil producer. Yahoo Finance's Jennifer Schonberger reports: Treasury Secretary Scott Bessent told lawmakers he would like to remain in his seat until 2029, but he did not dismiss the possibility of becoming the next chair of the Federal Reserve. He was asked in an appearance before the House Ways and Means Committee if he would rather be Fed chair or Treasury secretary — a possible reference to a media report that his name is now being circulated as a possible replacement for Jerome Powell once Powell's term as chair of the Fed expires next May. Bessent said he has "the best job" in Washington and is "happy to do what President Trump wants me to do," while noting that "I would like to stay in my seat through 2029" to help carry out the administration's agenda. Read more here. President Trump's Truth Social posts aren't moving markets like they used to. At 8:04 a.m. ET Wednesday morning, the President posted on his social media platform, "OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME." A post like that would've moved markets a month ago as stocks were swinging on any and every Trump update. But on Wednesday, futures tied to the major indexes barely budged after Trump's post. Instead, stocks found their direction from economic data. At 8:30 a.m. ET a cooler-than-expected reading of consumer prices for May sent futures higher as investors amped up bets that the Federal Reserve could cut interest rates at least twice this year. This marked the latest sign that markets have moved on from President Trump's trade war dictating every market move. Instead, focus is shifting back to the Federal Reserve and the path of the US economy. "For some period of time, tariffs were the only thing that mattered," Truist Co-CIO Keith Lerner told Yahoo Finance on Wednesday. "And I think we're finding out today a lot of other factors matter." And for now, economists argue the economic picture may be improving. "Combined with the solid May jobs report, the CPI data reduce the chances of a nasty bout of stagflation," Bank of America US economist Stephen Juneau wrote in a note to clients on Wednesday. "That means a lower risk of "bad" cuts (due to a collapse in the labor market) but increased probability of "good" cuts (solid labor market and slowing inflation)." Egg prices fell 2.7% in May to headline a month that saw grocery inflation rise from the prior month but continue to moderate as consumers search for relief from high food prices, which have weighed on household budgets for years. Food at home prices have now increased by less than 0.5% each month since October 2022. Wednesday's Consumer Price Index report showed that the index for food at home rose 0.3% last month, a rebound after recording a 0.4% drop in April to mark the largest monthly decline since 2020. May also marked the 27th straight month that inflation for food at home was below inflation for food away from home, per JPMorgan analyst Ken Goldman. Half of the major grocery store food groups saw an increase in April, and the other half saw a decline, reversing the downturn consumers saw across five categories in the prior month. Read more here. Tesla (TSLA) CEO Elon Musk's recent feud with his former ally President Trump put the spotlight on the risk of the electric vehicle stock's "Musk premium." Wall Street analysts and investors have varying opinions of Tesla and its controversial chief executive. But they agree on this: Tesla stock trades at higher levels than other electric vehicle companies. In other words, it trades at a premium because of Elon Musk. "If Elon Musk was gone tomorrow, [the] stock could get cut in half," Roth Capital Partners analyst Craig Irwin told Yahoo Finance. "There's no question there's a Musk premium in the shares." Irwin holds a Buy rating on Tesla stock. Others have different values for the Musk premium, ranging as high as 90%. Musk's foray into politics, particularly his recent feud with President Trump, showcased how quickly the premium on Tesla shares can erode. Read the story here. Yahoo Finance's Jennifer Schonberger reports: Read more here. Quantum computing stocks jumped in early trading Wednesday after Nvidia (NVDA) CEO Jensen Huang made bullish comments about the technology at the chipmaker's GTC Paris developer conference. Quantum Computing (QUBT) rose more than 31% after market open, while Rigetti Computing (RGTI) jumped more than 18%. IonQ (IONQ) rose over 8%. The companies make quantum computing hardware and software. By comparison, the S&P 500 (^GSPC) was up about 0.2%. Huang told a crowd Wednesday that 'we are within reach' of using quantum computers for 'areas that can solve some interesting problems in the coming years.' 'Quantum computing is reaching an inflection point,' he said. Read more here. US stocks were muted at the open on Wednesday as investors digested a softer-than-expected consumer inflation reading and assessed a US-China plan to salvage their trade truce. The Dow Jones Industrial Average (^DJI) slipped less than 0.1%, while the S&P 500 (^GSPC) was roughly flat. 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On a month-over-month basis, prices increased 0.1%, lower than the 0.2% estimated by economists and the 0.2% increase seen in April. On a "core" basis, which strips out the more volatile costs of food and gas, prices in April climbed 0.1% over the prior month, lower than April's 0.2% rise and below consensus projections for a 0.3% increase. Over the last year, core prices rose 2.8%, unchanged from the prior month and below Wall Street's expectations for a 2.9% increase. The largest tech stocks in the market are once again leading the market higher. And in recent weeks, investor excitement surrounding Big Tech has trickled down to newly issued public offerings, such as stablecoin issuer Circle (CRCL) and Nvidia-baked CoreWeave (CRWV). Yahoo Finance's Josh Schafer writes in today's Morning Brief: Read more here. Economic data: Consumer Price Index (May); Real average hourly earnings (May); MBA Mortgage Applications (week ending June 6) Earnings: Chewy (CHWY), Oracle (ORCL), Vera Bradley (VRA), Victoria's Secret (VSCO) Here are some of the biggest stories you may have missed overnight and early this morning: The biggest IPOs look a lot like the biggest stocks in the market CPI inflation seen as rising in wake of 'Liberation Day' tariffs Musk feud shows how Big Tech can't count on Trump's favor US-China talks deliver plan for restoring trade truce Musk says he regrets some Trump posts: 'They went too far' General Mills is said to weigh sale of China Häagen-Dazs stores China rare-earth magnet maker gets green light for US exports Nvidia CEO: Quantum computing is at an inflection point Here are some top stocks trending on Yahoo Finance in premarket trading: GameStop (GME) stock fell 4% before the bell on Wednesday after posting its first quarter earnings the day prior. The US video game retailer announced net sales of $732.4M, down from $881.8M in the same period of 2024. Tesla (TSLA) stock rose 1% in premarket trading, after CEO Elon Musk backtracked on his comments towards President Trump. Musk said: 'I regret some of my posts about President @realDonaldTrump last week,' he said on his social-media platform, X. 'They went too far.' Victoria Secret's (VSCO) shares rose by 1% ahead of its earnings release on Wednesday. The retailer, which recently reported a cyberattack, is expected by analysts to reoort revenue of around $1.35B. Yahoo Finance's Allie Canal reports: Read more here. Gold prices are edging higher even after the US and China talks delivered a plan to ease trade tensions, a sign the market is not yet convinced of a breakthrough. Futures rose 0.7% to around $3,366 an ounce in early trading on Wednesday. Bloomberg reported: Read more here.
