Live Breaking News & Updates on Wall Street On Monday
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starts to kick in many key countries around the world the demand for oil is increasing but at what pace? that s the question 0pec+ will be trying to answer as leaders meet today virtually to talk about oil supply and production quotas. also on their minds is a possible increase in iranian supply. in april it was decided to return two point one million barrels per day of supply to the market from may to july, as it anticipated global demand would rise despite surging coronavirus cases in india. so what s next? let s go live to dubai and talk to our middle east business correspondent sameer hashmi. good to see you. what are we likely to see happen today? most likely the consensus is that 0pec+ will stick to the plan they announced at the end of april, that between may and july they would increase 2.1 million barrels of oil per day and they will stick to that plan and not take any decisions beyond that. there are multiple factors. if you look at the prices, they indicate ....
up even the price of oil has gone up a little. so what is going on? well, investors are looking ahead to the latest us inflation data which is out later today. the consumer price index figures will be closely watched by the us federal reserve as it begins its twoday meeting to decide on its next move on interest rates. consumers in america feeling more confident inflation is on its way down, according to the latest by the federal near term inflation expectations and for two years. the survey is a closely watched metric, because of consumers believe inflation will fall, they will already adjust spending patterns in anticipation of what is to come. those consumer expectations happen to die pretty closely with what economists are expecting for the latest inflation figures. they will likely show inflation went up slightly month over month but it will drop year over year. month but it will drop year overyear. numbers month but it will drop year over year. numbers like that w ....
if the conflict spreads to other parts of the region especially iran, it could immediately impact well prices because even though iran has been under sections for the last two years it has pumped well quietly and provided them to customers across the globe. the white house has turned a blind eye especially with the last year or two because it s been trying to smooth relationships between iran and the western world. now if the white house enforces the sanction that means the supplier from sanction that means the supplierfrom iran could be cut off and comes at a time when oil supplies have been tightening because saudi arabia and russia, the two largest exporters of oil in the world, also part of 0pec+, have been reducing oil production by 1.3 alien barrels per day and will keep doing it until the end of the year. there is a good chanceit the year. there is a good chance it could continue into next year as well so if this happens and they will be a where there will be les ....
it s far from the first time an association of creative professionals. this time, it s the recording industry association of america accused ai companies of stealing their material and have sought to stop them in court. back in april, some 200 artists, including billie eilish and nicki minaj, signed a letter calling the use of ai in the music industry predatory and saying it should be stopped. staying with artificial intelligence, shares of nvidia fell by around 7% on wall street on monday. the chip firm has lost more than $500 billion in market value since last week when it briefly overtook microsoft as the world s most valuable company. nvidia has benefited from the booming demand for chips by train and run generative ai models like open ais chatgpt. european union regulators have accused apple of breaking rules designed to rein in big tech companies, the european commission which regulates competition in the year you said apple s app store squeezes out rival marketpl ....
suno and udio did not immediately respond to requests for comment. it s far from the first time an association of creative professionals. this time, it s the recording industry association of america accused ai companies of stealing their material and have sought to stop them in court. back in april, some 200 artists, including billie eilish and nicki minaj, signed a letter calling the use of ai in the music industry predatory and saying it should be stopped. staying with al, shares of nvidia fell by 7% on wall street on monday. the chip firm has lost more than $500 billion in market value since last week when he briefly overtook microsoft as the world s most valuable company. nvidia has benefited from the boom in demand for chips, the train and run generative ai models like open ai chatgpt. european union regulars have accused apple of breaking rules designed to rein in big tech companies, the european community that regulates a competition in that use said are pulls a ....