China restricts export of semiconductor metals and Meta unveils Twitter rival

S&P 500 on Track for 4550, Nasdaq Poised to Rally Again, Russell 2000 Bounces Back

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📚 Daily Digest  |  Tuesday, Jul 4, 2023     Global stocks muted, Meta to unveil Twitter rival - what's moving markets   © Reuters. Global stocks search for direction with Wall Street set to remain closed on Tuesday for the July 4 holiday. Meanwhile, Meta gears up to release a platform to rival Twitter later this week in a bid to attract users unhappy with Elon Musk's management of the social media site. Elsewhere, China unveils export controls on two key minerals in the latest development of an ongoing war over microchips between Beijing and the West. Read More     Today's Top News Stock Markets Meta to launch Twitter-like app Threads Meta Platforms plans to launch a microblogging app, Threads, days after Twitter executive chair Elon Musk announced a temporary cap on how many posts users can read on the social media site. Stock Markets Beijing jabs in US-China tech fight with chip material export curbs China's restriction of exports of some metals widely used in semiconductors, electric vehicles and high-tech industries has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains. Stock Markets Stocks drift as investors balance peak rate hopes with oil price rise Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. Commodities Factbox-Where are strategic materials germanium and gallium produced? China said on Monday it will impose export restrictions on some gallium and germanium products from Aug. 1 to protect national security interests. Here are some details about gallium and germanium. Commodities Oil rises as markets weigh supply cuts against uncertain economic outlook Oil prices rose on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against the backdrop of an uncertain global economic outlook. Read More News » Today's Top Analysis     Jul 4, 2023 by Declan Fallon S&P 500 on Track for 4550, Nasdaq Poised to Rally Again, Russell 2000 Bounces Back   by Declan Fallon  |   Jul 4, 2023   Jul 4, 2023 by Thomas Hughes Tesla Production Cranks Into High Gear, Stock Price Follows   by Thomas Hughes  |   Jul 4, 2023   Tom Roseen by  Taxable Fixed Income Funds, ETFs Outdraw Equities on a Net Basis in June   by   |   Tom Roseen   Jul 4, 2023 by Laura Sánchez 4 Largest U.S. Banks Pass Stress Tests: Time to Buy?   by Laura Sánchez  |   Jul 4, 2023 Read More Analysis »

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