Benzinga Video Scripts
Stock Futures Rise on First Trading Day of 2023 - CNBC
Dow Jones Industrial futures rose 120 points or 0.35 percent on the first trading day of 2023. S&P 500 futures gained 0.34 percent, and Nasdaq gained 0.43 percent. The major averages closed 2022 with losses, ending a three-year winning streak. The Dow ended the year with an 8.8 percent loss. The S&P 500 dropped 19.4 percent for the year, and the tech-heavy Nasdaq declined 33.1 percent for the year.
Tuesday Pre-market Moves: Tesla, Coty, Paypal, Linde - CNBC
Tesla shares fell 5 percent in premarket trading, missing analyst expectations. Coty rose 2.7 percent after Piper Sandler upgraded the beauty company to overweight. Paypal shares gained 3 percent in premarket after Truist upgraded it to buy. Linde’s stock dropped 3 percent in premarket after Russia froze $500 million of assets of the German industrial gas company.
Tesla Falls Short of 2022 Vehicle Delivery Target - WSJ
Telsa missed its vehicle delivery target for 2022, delivering 1.31 million vehicles out of its 1.4 million goal. The company stated in a press release that changes in how it produces and distributes cars left more vehicles in transit at the end of the year. As Tesla navigates COVID-related production obstacles in China, demand for the electric vehicle is dropping in the U.S. market. Tesla lost $675 billion in market valuation in 2022, with its share price fell 65 percent.
Russian Oil Flow Drops Amid Sanctions - Bloomberg
Russia’s crude oil shipments dropped by 117,000 barrels per day in the last four weeks of 2022, its lowest for the year. Russian oil exports to China, India, and Turkey have fallen after facing European sanctions. Longer transit times, a drop in available cargo ships, and adverse weather conditions in the Baltic Sea are also contributing factors. Shipments from Baltic ports to parts of India take an average of 31 days compared to seven days from the same terminals to the Netherlands.
Meta and Alphabet Inc Losing Advertising to TikTok, Netflix - WSJ
Facebook parent Meta and Google’s Alphabet Inc comprised a combined 48.4 percent of U.S. digital ad spending in 2022, the lowest since 2014. Their ad business continues to grow but at a pace slower than anticipated. The tech giants faced hurdles in 2022, as people chose to spend less time online than during the pandemic and marketers reined in ad spending. Amazon, TikTok, and streaming services continued to emerge in the advertising space.
Minimum Wage Rising in 26 States in 2023 - CNBC
Nearly half of the states in the U.S. are increasing their minimum wages in 2023. Washington state will see the highest minimum wage at $15.74 per hour. Colorado is increasing its minimum wage to $13.65 per hour, Massachusetts to $15 per hour, and Arizona to $13.85 per hour. The minimum wage in Washington, D.C. will increase to $16.10 per hour. President Joe Biden raised the minimum wage for federal workers and contractors to $15 per hour. The federal minimum wage remains at $7.25 per hour.
Workers for Small Businesses Still in High Demand - CNBC
Hiring at small businesses with fewer than 50 employees has slowed for five straight months as a result of a lack of applicants. Fifty percent of small business owners said it was harder to hire workers in the third quarter of 2022 than it was a year ago. Twenty-eight percent said they have open roles but haven’t been able to fill them for at least three months. While small businesses are feeling the pressure of higher wages, there are a record number of workers looking for two jobs, which could benefit small businesses.