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☆ Dockworkers on the East and Gulf Coasts have agreed to suspend the strike after reaching a deal for better pay
▼ + stars: | 2024-10-03 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The International Longshoremen's Association and the United States Maritime Alliance reached a deal. Port employers and striking dockworkers reached a tentative agreement on wages, according to a joint statement. The strike will be suspended until January to allow time to work out the specifics of a new contract. The 62% increase would up the hourly rate for port workers from $39 to $63 in the coming years, according to the outlet. AdvertisementThe three-day strike shuttered ports across the East and Gulf Coast, disrupting the supply chain and impacting consumer items like fruits and car parts.

Persons: dockworkers, — Organizations: Longshoremen's Association, United States Maritime Alliance, Service, CNN, Associated Press, Street Journal, White, The, CBS News, International Longshoremen's Association Locations: Maine, Texas, West, East, Gulf

☆ There's already a queue of cargo ships backing up at US ports
▼ + stars: | 2024-10-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

AdvertisementCargo vessels (green dots) and tankers (red dots) at anchor outside Eastern US ports. AdvertisementCargo vessels (green dots) and tankers (red dots) along the Mid-Atlantic. Cargo vessels (green dots) and tankers (red dots) along the Gulf Coast. Cargo vessels (green dots) and tankers (red dots) outside Savannah, Georgia, and Charleston, South Carolina. Cargo vessels (green dots) and tankers (red dots) outside Norfolk, Virginia.

Persons: —, Andrew Coggins, Coggins, MarineTraffic.com Burt Flickinger, MarineTraffic.com, Brandon Daniels, Daniels, Taft, Hartley, Hurricane Helene Organizations: Industry, Service, International Longshoreman's Association, Reuters, Pace University, MarineTraffic.com, Strategic Resource, ILA, US Marine Alliance Locations: East, Gulf Coast, New York, Virginia Beach, Savannah, Miami , New Orleans, Houston, Gulf, Western, Savannah , Georgia, Charleston , South Carolina, Norfolk , Virginia, Hurricane

☆ Port strike ends as workers agree to tentative deal on wages and contract extension
▼ + stars: | 2024-10-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

A major union for U.S. dockworkers and the United States Maritime Alliance have agreed to a tentative deal on wages and have extended their existing contract through Jan. 15 to provide time to negotiate a new contract. The move ends a strike that had snarled East Coast and Gulf Coast ports since the beginning of the week and threatened U.S. supply of fruits, automobiles, and other goods. During the week, the strike had already started to stress the U.S. supply chain. The strike was the first by the ILA since 1977, and it impacted operations at 14 different ports. About 50,000 of the union's 85,000 members were on strike this week.

Persons: Harold Daggett Organizations: U.S, dockworkers, United States Maritime Alliance, Longshoremen's Association, Ltd, CNBC, Shipping, ILA Locations: East Coast, Gulf Coast, U.S

☆ Meet Harold Daggett, the colorful and controversial union boss leading the port strike
▼ + stars: | 2024-10-03 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +7 min

Daggett is the president of the International Longshoremen’s Association, which has nearly 50,000 union members on strike at three dozen different port facilities. This is the union’s first strike in 47 years, but Daggett participated in the previous strike as a rank-and-file dock worker. A sea of hundreds of union members parted amid cheers as made his way to the top of a small grassy knoll, with idle shipping containers as a backdrop. Unwanted attentionBut increasing attention on Daggett and the strike has brought harassment and death threats, according to a statement from the union. Members of the International Longshoremen's Association union, which represents roughly 45,000 workers, on strike outside the Port of New York and New Jersey on the first day of the strike.

Persons: Harold Daggett, Daggett, ”, Bryan R, Smith, “ We’re, Dennis Daggett, ” Daggett, Shawn Fain, don’t, Donald Trump, Trump, Kamala Harris, Joe Biden, Biden, Julie Su, John McCown, Shannon Stapleton Organizations: New, New York CNN, International Longshoremen’s Association, Navy, Sporting, International Longshoremen's Association, Port, Gulf Coasts, Getty, ILA, United Auto Workers, UAW, Queens, Trump, Mar, Lago, Democratic, Labor Locations: New York, East, Gulf Coasts, That’s, United States, Vietnam, Europe, Port of New York, New Jersey, Gulf, AFP, Elizabeth , New Jersey, New York City, ”, OpenSecrets

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☆ Chaos is building for shippers as U.S. port strike continues and costs rise
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

Brashier said some clients had containers that were once destined for the Port of Savannah diverted to the Port of Norfolk in the last hours before the strike began. More than a dozen container vessels are currently waiting in the port anchorage area of Freeport, Everstream Analytics data shows. MSC, the largest containership company in the world, has diverted two vessels, according to Vizion. A container ship departs the Port of Newark for the Atlantic Ocean on September 30, 2024 seen from New York City. Christian Roeloffs, cofounder and CEO of Container xChange, said the timing of this strike is especially challenging for shippers.

Persons: Eric Adams, Spencer Platt, Biden, Paul Brashier, Brashier, Jose Luis Gonzalez, Mirko Woitzik, Lloyd, Hermann Schulte, Port, Harold Daggett, Daggett, Stew Leonard, Jr, Stew Leonard's, Leonard, Brandon Daniels, Daniels, Christian Roeloffs Organizations: International Longshoremen’s Association, ILA, Getty, International Longshoremen's Association, United States Maritime Alliance, ITS Logistics, CNBC, Trucking, Port, Portsmouth, Reuters, Dresden, Turkey East Coast Express Service, America, Schulte Group, MSC, USMX, Local, Virginia International, Walmart, Depot, Folgers Company, Nike, Container, Analytics Locations: Brooklyn, Brooklyn , New York, Gulf Coast, Savannah, Port of Norfolk, Virginia, Portsmouth , Virginia, U.S, Vizion, East Coast, Port of Norfolk , Virginia, Savannah , Georgia, Egypt, America, Charleston, Port, Freeport, Bahamas, Cristobal, Port of New York, New Jersey, Halifax, Canada, Newark, New York City, New York, Savannah , Norfolk, West Coast, demurrage, China, Israel

☆ Massive East Coast port strike: five things to know
▼ + stars: | 2024-10-03 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

New York CNN —A massive port strike along the East and Gulf Coasts that kicked off on Tuesday has the potential to become one of America’s most disruptive work stoppages in recent times. Here’s the latest information you need to know about the port strike. People are panic-buying toilet paper, reports on social media show, displaying empty store shelves where toilet paper and sometimes paper towels used to be. Unlike toilet paper, bananas go bad, so shippers weren’t able to ship large volumes in advance of strikes. On Wednesday, Biden starkly warned against the “man-made disaster” caused by the ongoing port strike and urged the two sides to come to an agreement to avoid significant economic impacts.

Persons: ”, Harold Daggett, Dockworkers, USMX, Biden, Joe Biden, Taft, Hartley, “, ” Biden, Kamala Harris, didn’t, Donald Trump’s, Trump, Kamala Harris ’, Joint Base Andrews, “ We’re, Betsy Klein, Allison Morrow, Chris Isidore, Vanessa Yurkevich, Kayla Tausche, Arlette Saenz Organizations: New, New York CNN, Gulf Coasts, International Longshoremen’s Association, United States Maritime Alliance, CNN, ILA, Anderson Economic, American Farm Bureau Federation, Democratic, ”, NLRB, American, Wednesday, Joint Base Locations: New York, East, USMX, Maine, Texas, Canada, Mexico, Taft, America

☆ October surprises are piling up, but a toss-up race seems impervious to shocks
▼ + stars: | 2024-10-03 | by ( Stephen Collinson | ) edition.cnn.com time to read: +14 min

The trio of tests facing Harris comes with potential economic, political and humanitarian consequences if the administration errs. And the new scrutiny of Trump’s behavior after the 2020 election could cause some voters to again question his fitness for the Oval Office. Former President Donald Trump speaks during a campaign event at Dane Manufacturing in Waunakee, Wisconsin, October 1, 2024. NONE OF THIS HAPPENED WHILE I WAS PRESIDENT!” Trump wrote on Truth Social on Tuesday. But Trump has already tried to manipulate the tragedy for political gain, accusing Biden of “sleeping” following the storm.

Persons: Donald Trump, Kamala Harris, Biden, Hurricane Helene, Trump, Jack Smith, ’, Harris, Kamil Krzaczynski, Trump’s, ” Smith, Smith, ” Trump, Steven Cheung, JD Vance couldn’t, Augusta Mayor Garnett Johnson, Brendan Smialowski, Joe Biden, Helene, Amir Cohen, Hassan Nasrallah, Benjamin Netanyahu’s, Netanyahu’s, Netanyahu, “, ”, There’s, egging Netanyahu, Spencer Platt, “ Donald Trump …, Still, Mandel Ngan, they’ve, Brian Kemp, ” Biden, we’re Organizations: CNN, Oval, Dane Manufacturing, Getty, Trump, ”, Radical Democrats, Republican, Augusta, Democratic, White, Reuters, Wednesday, Democratic Party, Port, International Longshoremen’s Association, Biden, Republican Party, GOP, Raleigh Emergency Operations Center, Pentagon, National Guard, Georgia Republican Gov Locations: Hurricane, Waunakee , Wisconsin, AFP, Meadowbrook, Augusta , Georgia, Iran, Israel, United States, Tehran, Russia, Ukraine, Ashkelon, Lebanon, Gaza, Islamic Republic, Washington, Michigan, New York, Newark, Staten Island , New York, Gulf Coast, Raleigh , North Carolina, Georgia, North Carolina

☆ Costco is selling platinum bars as it expands its precious-metals business after huge success selling gold
▼ + stars: | 2024-10-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Costco is selling 1-ounce platinum bars online for $1,090. The move comes about a year after the retail giant started selling gold bars and silver coins. AdvertisementCostco is diversifying its precious-metals business by selling 1-ounce bars of platinum for $1,090. "I have purchased gold coin and bars, this is 1st I spotted the platinum bar on here. Advertisement"I've gotten a couple of calls that people have seen online that we've been selling gold — 1-ounce gold bars," Costco CFO Richard Galanti said in an earnings call last year.

Persons: —, Lady Fortuna, Richard Galanti, Edward Kelly Organizations: Costco, Service, Business Locations: Wells Fargo

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☆ Panic buying amid U.S. ports strike is creating supermarket supply concerns
▼ + stars: | 2024-10-03 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

There is no need for panic buying, and we encourage consumers to shop responsibly. Bill Simon, former CEO of Walmart, stressed that panic buying is serious and can have a cascading effect on domestic products. "Panic buying not only impacts the availability of imported products, but domestic products as well as consumers shift their purchase behavior," warned Simon. Walmart and Target did not immediately respond to requests about any panic buying patterns identified at their stores. John Catsimatidis, owner of the NYC super chain Gristedes, said the panic buying is occurring and showing no signs of slowing down.

Persons: Stew Leonard, Jr, Stew Leonard's, restocked, Bill Simon, Simon, John Catsimatidis Organizations: CNBC, Gulf Coasts, National Grocers Association, —, of Commerce, East, National Retail Federation, Walmart, Target, NYC Locations: Gulf Coast, East Coast, Gulf, United States, U.S, Canada, Mexico, East

☆ Oura announces new smart ring with updated design and new sensors for $349
▼ + stars: | 2024-10-03 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

A user wearing an Oura Ring Courtesy: OuraOura unveiled its new smart ring, the Oura Ring 4, on Thursday, which is available starting at $349. The Oura Ring 4 has new sensors, a sleeker design and up to eight days of battery life. The Oura Ring 4 Courtesy: OuraThe sensors in Oura's third-generation ring are raised and feel like little bumps, but the sensors in the Oura Ring 4 are flat. The Oura Ring 4 is available in twelve sizes and six colors, including a new black finish. A new look for the appZoom In Icon Arrows pointing outwards Redesigned Oura app Courtesy: Oura

Persons: Oura Organizations: preorder

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☆ From Walmart and Ikea to Heineken, here are the companies whose imports may be most impacted by the port strike
▼ + stars: | 2024-10-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

The port workers' strike could disrupt business for big retailers, according to ImportGenius data. Walmart, Ikea and Samsung are some of the biggest importers at ports affected, the data show. JPMorgan predicted the strike could cost the US up to $5 billion daily. AdvertisementMajor retailers are pivoting their shipping plans and preparing for the financial impact of the ongoing port strike. The chart doesn't include data from shipping companies that handle cargo from multiple businesses or anonymous shipments.

Persons: —, Alan Murphy, William George, General Motors, Jess Dankert, Dankert Organizations: Walmart, Ikea, Samsung, JPMorgan, Service, Intelligence, CNBC, Research, Arbor Research, Lading, Customs, Business, General, Home, Retail Industry, Association, International Longshoremen's Locations: Gulf Coast, ImportGenius, West, Maine, Texas

☆ China’s Coast Guard claims to have entered the Arctic Ocean for the first time as it ramps up security ties with Russia
▼ + stars: | 2024-10-03 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

The statement came a day after the US Coast Guard said it spotted four vessels from the Russian Border Guard and Chinese Coast Guard in the Bering Sea – the “northernmost” location it said it had ever observed the Chinese ships. A banner visible on one of the vessels in accompanying photos read “China Coast Guard devoting its heart to the Party; demonstrating loyalty in the Arctic Ocean,” referring to China’s ruling Communist Party. The US Coast Guard (USCG) on Monday said it spotted the four vessels from the Russian Border Guard and Chinese Coast Guard “transiting in formation in a northeast direction” in the Bering Sea, some five miles inside Russia’s Exclusive Economic Zone on Saturday. A China Coast Guard member pictured during recent joint drills with Russia. The coast guard collaboration “relates to Chinese interests in maritime transportation along at least parts of the Northern Sea Route,” according to Østhagen.

Persons: Russia –, China’s, ”, Megan Dean, irked, Carl Schuster, it’s, –, Sophie Arts, ” Andreas Østhagen Organizations: Hong Kong CNN, China’s Coast Guard, US Coast Guard, Russian Border Guard, Chinese Coast Guard, China Coast Guard, Communist Party, CCTV, TASS, 17th Coast Guard District, USCG, Canadian, Russia’s Federal Security Service, East China, Coast Guard, Guard, US Navy, Pacific Command’s Joint Intelligence Center, China, US Department of Defense, German Marshall Fund, Fridtjof Nansen Institute, CNN, Armed Police, Central Military Commission, Centre for High North Logistics, Norway’s Nord University Locations: Hong Kong, Russia, Beijing, ”, Bering, Alaska, Asia, North America, China, Washington, South, East, irked Beijing, Ukraine, Russian, Norway, South China, Philippines, Europe

☆ CNBC Daily Open: Soft landing hit by minor turbulence
▼ + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Mark Felix | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. It's just the first days of the port strike and flare-up in Middle East tensions, however. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.

Persons: Mark Felix, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Afp, Getty, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook , Texas, Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East

☆ CNBC Daily Open: Minor turbulence for the soft landing
▼ + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Kirk Side | Houston Chronicle | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. Higher oil prices pose a risk to inflation resurging, or at least slowing less than everyone is hoping for. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.

Persons: Seabrook . Kirk, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Houston Chronicle, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook ., Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East

☆ Israel retaliation may target Iran oil infrastructure, boosting prices further, Wall Street analysts say
▼ + stars: | 2024-10-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The expanding war in the Middle East, however, has reached a new boiling point as Israel has vowed a "painful" response to Iran's attack. The government of Prime Minister Benjamin Netanyahu could take aim at the Islamic Republic's oil infrastructure in retaliation, geopolitical and crude market analysts say. "The next turn in this retaliation spiral may very well involve oil – via the degrading of Iran's oil capacityor Iran's proxies attacking oil and gas shipping from the Persian Gulf," Piper Sandler analysts told clients in a Wednesday research note. If Iran's oil exports of around 1.8 million bpd were taken offline, prices would likely jump by at least $5 per barrel, McNally said. An escalation on this scale could send oil prices higher in increments of $10 per barrel, the analyst said.

Persons: Ali Mohammadi, Benjamin Netanyahu, Helima Croft, Jack Jacobs, Jacobs, Croft, Piper Sandler, Bob McNally, McNally Organizations: Persian Gulf, Bloomberg, Getty, OPEC, RBC Capital Markets, U.S, Army, Rapidan Energy Locations: Bandar Abbas, Iran, Israel, China, Persian

☆ The East and Gulf Coast ports strike could be a no-win situation for the Biden administration
▼ + stars: | 2024-10-02 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

President Biden said on Tuesday that his administration will be "monitoring for any price gouging activity" that benefits foreign ocean carriers, including those on the USMX board. He also said "foreign ocean carriers have made record profits since the pandemic, when Longshoremen put themselves at risk to keep ports open." UBS forecast that 20% of Maersk's total volume would touch a U.S. port that would be impacted by the strike. Acting Secretary Julie Su lashed out at the idea that labor wage increases would be passed onto U.S. exporters and importers. I know they understand, just as consumers and American workers understand, that foreign companies who profit from our economy and who employ American workers and have an impact on American consumers should do the right thing, and in that battle, we are always going to stand with American workers, American businesses and American consumers."

Persons: Biden, Longshoremen, majeure, Daggett, Harold Daggett, Lars Jenson, Pete Buttigieg, Julie Su, Taft, Hartley, Buttigieg, Larry Lindsey, Su, Peter Friedmann, I've, nonfarm, Helene, switchers, they're, Jim Bianco, CNBC's, Peter Boockvar, Alan Baer, Steve Lamar, Taft Hartley, Lamar, CNBC's Jeff Cox Organizations: CMA, U.S, United States Maritime Alliance, Vespucci, Federal Reserve, Transportation, Labor, International Longshoremen's Association, UBS, Maersk, Federal Maritime Commission, ILA, Boeing, The Lindsey Group, Agriculture Transportation Coalition, Bianco Research, Bleakley Financial, USA, American Apparel and Footwear Association, Biden Administration, — Locations: East, Gulf Coast, U.S, autoworkers

☆ Fears of automation are at the heart of the dockworkers strike
▼ + stars: | 2024-10-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Automation is a core issue at play in the ongoing dockworker strike at Eastern US ports. AdvertisementStriking dockworkers at US ports say they're worried that jobs could plummet as shipping companies increasingly turn to automation. Picketing workers gathered at ports in New York and Miami carrying signs reading "Machines don't feed families" and "Fight automation, Save jobs." AdvertisementThe union's objection to the way shipping companies are using automation now is a key sticking point in the negotiations for a new labor contract. The move eventually contributed to the ILA earning the unusual distinction of being a labor union being named in an unfair labor practices complaint filed by management.

Persons: —, USMX, Harold Daggett, Jesus Olarte, Daggett, it's, Stephen Edwards, Dominick Organizations: Service, International Longshoremen's Association, US Maritime Alliance, Business, Port, Getty, Maersk, APM, New York Times, ILA Locations: Eastern, New York, Miami, East Coast, Anadolu, Mobile , Alabama, Port of Virginia, Norfolk, Baltimore

☆ Investors eying income solutions and defense stocks as geopolitical tensions rise
▼ + stars: | 2024-10-02 | by ( Frank Holland | In Frank-Holland | ) www.cnbc.com time to read: +2 min

(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for Pro subscribers. Worldwide Exchange airs at 5 a.m. "The fixed income market has enough yield to bail you out if the geopolitical tensions get worse," said Hyman said on Worldwide Exchange. "Investors are not focusing on the likely U.S. response post election to replenishing defense stocks and ramping up capabilities." Worldwide Exchange Pick: Biotech Stocks Scott Ladner of Horizon Investments is seeing opportunities in the biotech sector, specifically the iShares Biotechnology ETF (IBB) and SPDR S & P Biotech (XBI) ETFs.

Persons: Simeon Hyman, Hyman, Terry Haines, Haines, Lockheed Martin, Scott Ladner, Ladner Organizations: Pro, Worldwide, Proshares Advisors, Defense, Lockheed, Raytheon, Biotech, Horizon Investments, iShares Biotechnology, P Biotech, Shipping Stocks Shipping, U.S Locations: Israel, Iran, Ukraine, South China, U.S, East, Gulf Coast

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☆ OpenAI executive says the startup has a 'great bench' after CTO's abrupt departure
▼ + stars: | 2024-10-02 | by ( Rob Price | ) www.businessinsider.com time to read: +4 min

OpenAI exec Kevin Weil told BI the company has a "great bench" after CTO Mira Murati abruptly quit. AdvertisementThe hundreds of attendees at Ray Summit, an AI conference in San Francisco, were originally hoping to hear from Mira Murati, the chief technology officer of OpenAI, on Wednesday. AdvertisementIn a brief interview with Business Insider immediately afterwards, Weil praised Murati while downplaying the impact of her departure. Weil, a former Instagram executive, highlighted Mark Chen as an example of the talent still around at OpenAI. "So I'm really excited to partner with him and I'm really optimistic about what we're building."

Persons: Kevin Weil, Mira Murati, Weil, —, Murati, Robert Nishihara, OpenAI, Mira, I've, Mark Chen, Chen, you've, I'm, Jane Street, Sam Altman, Ilya Sutskever, superalignment, Jan Leike, John Schulman, Barret Zoph, Bob McGrew, Bob, we've, We've Organizations: Service, Ray Summit, Business, Integral Technology, MIT Locations: OpenAI, San Francisco, Silicon

☆ Crude oil jumps nearly 3% as Israel vows 'painful' response to Iran missile attack
▼ + stars: | 2024-10-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil rose nearly 3% on Wednesday as traders fear Israel could target Iran's oil infrastructure in retaliation for a ballistic missile attack. Israel's ambassador to the United Nations, Danny Danon, vowed late Tuesday that Israel will exact a "painful" response against Iran. Danon's threat came hours after the Islamic Republic launched around 180 ballistic missiles at Israel in retaliation for the assassination of top Hamas and Hezbollah leaders. Israel might take aim at Iran's oil industry to hit Tehran's income and degrade its ability wage war, they said. OPEC+ is planning to increase oil production in December, and U.S. output has been set records.

Persons: Danny Danon, Piper Sandler, Goldman Sachs, Yulia Zhestkova Grigsby Organizations: United Nations, Islamic Locations: Israel, Iran, Islamic Republic, Persian, China

☆ Dollar firm as war widens in Middle East
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +2 min

The dollar held its sharpest gain in a week on Wednesday after an Iranian missile attack on Israel drove buying of safe assets as investors fretted about the widening of conflict in the Middle East. The dollar held its sharpest gain in a week on Wednesday after an Iranian missile attack on Israel drove buying of safe assets as investors fretted about the widening of conflict in the Middle East. The bid for safety kept the yen broadly steady at 143.45 per dollar and the Swiss franc at 0.8463 per dollar. The New Zealand dollar was nursing a 1.1% overnight fall at $0.6283 and oil prices had jumped 2.5%. Westpac strategist Imre Speizer said the Middle East was unpredictable but that in the absence of escalation market sentiment could recover and focus return to economics.

Persons: Sterling, Imre Speizer, Tim Walz, JD Vance Organizations: Swiss, New Zealand, U.S, Iran's Revolutionary Guard Corps, Hezbollah, ANZ, Westpac, BNZ, Gulf Coast dockworkers Locations: Iranian, Israel, Early Asia, Iran, Lebanon, Asia, New Zealand, dockside, East, Gulf Coast

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