Oil Prices, India Boeing Crashing, inflation, and more.

0:00 Speaker 1 Sunday Morning with us is John Terrick to tell us about the the markets have been, well, I guess they’ve been a little bit agitated since Thursday night. Well, John, how do you feel? Well?

0:12 Speaker 2 I think that’s exactly right. The big story, of course, that Israeli attack on the Iranian nuclear facilities. And the problem is that this is happening in the Middle East. Now Iran is part of Persia, but of course because Israel carrent of the attack, it could drag the whole thing into a greater Middle East conflagration. And the problem

0:29 is supply, in particular the Suez Canal. You see, most of the world’s oil has to go through the Suez Canal, and in order to get out into the Gulf, it has to pass through Iranian coastal territory. And that’s the reason the oil markets were really down at the back end of last week. WTI and Brent the two benchmarks

0:47 down at our five percent. The other big story of the week, of course, the Boeing seven eight seven air crash in India. Now I call the seven eight seven the plastic plane because it’s not made of metal, It really isn’t. It’s made of a carbon fiber reinforced polymer was about twelve years old. Kelly Ortberg, the CEO of Boeing,

1:03 has been in touch with the Chairman of India to offer every assistance they can. It’s a real blow to Ortberg, though, John, because he’s trying to recover Boeing from the seventh three seven Max Indonesia and Ethiopia air crashes, the Alaska Airlines door blowout of January twenty twenty four, and production issues, some of which have affected the seven eight seven Dreamliner.

1:23 Boeing shares down five percent when the accident happened on Thursday, and ge aviation down two percent. They made the engines Chime.

1:33 Speaker 1 Boeing has canceled their Paris are show. They’re not going really.

1:39 Speaker 2 I covered that in two thousand and two. That is a very big deal. It’s in Laborgies, just outside Paris, where, of course so many famous aircraft things. Yes, loved it’s a huge airport. Well. The other big story, there were two of them. Chime came to the Nasdaq for the very first time. It’s a fintech bank serving everyday Americans who are under banked.

1:58 Came up by fifty nine percent as it came out raising about seven hundred million dollars for its backers, and of course PPI and CPI. The inflation data rebounded less than expected in May, easing fears about tariffs affecting inflation, although I have to tell you John wall Street’s view is that we’re likely to see some effect on the

2:16 inflation data because of tariff’s in July and August. So and a month or two to wait before we see that. As a result, down, NASDAK and S and P all very jittery on the back end of last week, and so to the week ahead. Well, Today tomorrow is the G seven in Alberta. In Canada, President Trump is attending.

2:32 It starts formally tomorrow Wednesday, the Federal Reserve give us their rate decision. Nothing is likely to change, it is forecast. And then on Thursday, Friday, the deadline comes up for the TikTok ban kicking back in. Now nobody expects the TikTok band to kick back in. Why because President Trump, even though there’s a Chinese connection with the company, he

2:52 loves TikTok because he thinks it was one of the social media sites that helped to get him re elected In November so the band does come up on the Sday into Friday night, but we’re looking for an extension.

3:03 Speaker 1 Thank you, John Terret. We’ll catch up at you again next Sunday.

3:06 Speaker 2 Thank you, thank you seeing you then, thank you.