⏱A peach in the spotlight
The Amazon Air Force, and auto struggles
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The Georgia Senate runoff election happened yesterday, and while we don’t know the results yet, the nation is waiting with bated breath. The two seats up for grabs will dictate the control of the Senate, as the Republicans currently lead 50 - 48 (including two “independents” who caucus with the Democrats). Although there would be a tie if both seats are won by Democrats, that would mean that the VP, Kamala Harris, would be the tie-breaking vote.
Yesterday Amazon made a pretty large purchase, both in size and monetary value. Specifically, it bought a total of 11 Boeing 767-300 planes from Delta, and WestJet. This marks the first large industrial aircraft purchase for the retail giant, and they confirmed in a statement that the purchase was the first step to creating their own fleet, which they expect to be over 85 planes by the end of 2022. Maybe one day Prime shipping will make an appearance then too...
Saudi Arabia announced yesterday that they would be cutting supply of crude oil production by 1 million barrels a day in an effort to artificially raise demand, and therefore price. Oil prices went sky high on the news, and US Oil futures were up 5.2% on the day. The crazy part about this? The announcement from Saudi Arabia came only hours after they had seemingly agreed to keep production flat in an OPEC meeting.
In a crazy world where Tesla is the sixth largest company in the US by market cap, traditional automakers are struggling, and auto sales are expected to hit a decade low in 2021, hitting a point even lower than 2020 where they dropped roughly 15%. Currently the only two traditional automakers that are outperforming the market are GM and Toyota.
Get your calendars out and mark January 10th. That night, roughly 45 minutes after sunset, you’ll be able to see Jupiter, Saturn, and Mercury in the form of a triangle in the sky. You may need some binoculars, but it’s supposed to be spectacular, so we say it’s worth it.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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