Investors curious about the next move in the broader market would be wise to pay extra attention to shares of multinational tech giant Apple (AAPL). “One of the reasons that has been helping sentiment, particularly in industrial stocks and things like that, is the idea that China is going to be reopening,” Interactive Brokers chief strategist Steve Sosnick said on Yahoo Finance Live (video above). “If there is another wave of lockdowns in China, that really upends that story. It upends global… Source link
Read More »China Shunning Russian Coal With Banks Nervous Over Sanctions
(Bloomberg) — Chinese power plants and steelmakers are looking for alternatives to Russian coal after some domestic banks suggested they avoid purchases due to the mounting sanctions being imposed on Moscow. Most Read from Bloomberg Some state-own firms were sent private client notes by the lenders advising them to halt buying Russian coal as tightening global restrictions could cause “unexpected damage” to China’s importers, according to people with knowledge of the matter who asked… Source link
Read More »India pledges net-zero by 2070 but remains mum on coal
GLASGOW — The world’s two largest coal producers cast a big shadow on Day 2 of the United Nations Climate Change Conference (COP26) as stated commitments from India and China fell well below that of climate action needed to keep global warming in line with the Paris Agreement. Speaking at the World Leaders Summit in Glasgow, Indian Prime Minister Narendra Modi announced plans to reach carbon neutrality by 2070 — a significant promise for one of the last remaining holdouts to set… Source link
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