December 18, 2023

Markets Now 12/18

US Steel, once the world’s largest corporation, agrees to sell itself to a Japanese company

US Steel has agreed to be bought by NIppon Steel, Japan’s largest steelmaker, in a $14.1 billion deal.  
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Oil and gas prices surge as BP stops Red Sea shipments following Houthi attacks

Oil and natural gas prices rose sharply Monday after BP said it would pause all shipments through the Red Sea because of increased attacks on commercial vessels by Houthi militants from Yemen.  
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AI was the buzzword of 2023. What happens in 2024?

AI is the buzzword du jour. The emerging industry has kept investors optimistic and stirred up market euphoria throughout 2023.  
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Southwest hit by record $140 million fine for holiday service meltdown in 2022

The federal government is fining Southwest Airlines $140 million for last year’s historic, 10-day-long holiday meltdown that stranded more than 2 million travelers.  
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As mortgage rates fall, homebuilders are feeling good about the housing market again

Homebuilder confidence improved in December as mortgage rates continued to fall, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Monday.  
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Foxconn makes most of the world’s iPhones. Now its CEO wants to make EVs

Liu knows a lot about iPhones. As a manufacturer for Apple, the company he runs as CEO, Hon Hai Technology Group, better known as Foxconn, makes most of the iPhones in the world.But now the company wants to try something new, designing and building electric cars.  
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Source: CNN Business

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