The Bloomberg Daybreak Podcast covers rising oil prices, Iran's escalating tensions, and the increase in Bitcoin's value. They discuss market updates, trends, and the performance of various markets. The podcast also explores a terrorism investigation, New York City's efforts to prevent migrant buses, and college football playoffs. Investment outlooks for the coming year, predictions of an economic slowdown, and the upcoming jobs report are also discussed. The chapter ends with an advertisement for the podcast and the introduction of 'The Big Take' podcast.
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Quick takeaways
Tensions in the Middle East, specifically Iran's show of force in the Red Sea, are interlinked with the rising oil prices.
Bitcoin's price surge is attributed to expectations of direct investment from a Bitcoin ETF.
Deep dives
Rising Oil Prices and Tensions in the Middle East
Oil prices have started the new year on a rise, with crude oil up more than 2%. Tensions in the Middle East, specifically Iran's show of force in the Red Sea, are seen as interlinked with the increasing oil prices. Iran is believed to have influence over various Middle Eastern movements, such as Hamas and the Houthis. Cambridge University's Elizabeth Kendall points out that the Houthi slogan includes anti-Israel sentiments. As a result, oil prices are currently trading at $73 and 13 cents a barrel.
Bitcoin's Rise Continues
Bitcoin's price continues to rise, currently at its highest level since April 6. The cryptocurrency is up 4% and has exceeded $45,000 for the first time in two years. This surge in price is linked to expectations of direct investment from a Bitcoin ETF. Bloomberg Markets reporter Joe Easton highlights the positive sentiment and the search for technical levels that could push Bitcoin even higher. As of now, Bitcoin is trading at $45,700.
European Stocks Rise, Led by Energy Sector
European stocks have started the new trading year on a positive note, with the energy sector leading the way. Rising tensions in the Red Sea region and higher oil prices have contributed to the boost in energy companies, including oil majors. Spanish and Italian markets are outperforming, with bank shares in London also rising. Shipping giant Maersk saw an increase in its shares after temporarily stopping the use of a key trade route following an attack on one of its vessels. Overall, the stock 600 is seeing gains in the early days of the trading year.