Monday☕️

Trending:

• The Asia-Pacific Economic Cooperation (APEC) summit concluded on Saturday, November 16, 2024, in Lima, Peru, after a week of discussions among leaders from 21 Pacific Rim economies. A major outcome was an agreement between U.S. President Joe Biden and Chinese President Xi Jinping to ensure nuclear weapons remain under human control and are not managed by artificial intelligence, addressing global security concerns about AI in military use.
• APEC, founded in 1989, focuses on economic cooperation and trade among its members. This year’s summit also discussed creating a free trade area in the Asia-Pacific and tackling economic informality. As a collaborative, non-binding forum, APEC emphasizes addressing shared challenges like technology, trade, and sustainability while fostering dialogue and cooperation.

Economics & Markets:

• Yesterday’s commodity market:

• Yesterday’s crypto market:

Geopolitics & Conflicts:

• Yesterday, President Joe Biden authorized Ukraine to use U.S.-supplied Army Tactical Missile Systems (ATACMS) to strike targets within Russian territory. These long-range, surface-to-surface missiles, launched from HIMARS or M270 systems, can reach up to 190 miles, enabling Ukraine to target key Russian military and infrastructure sites.
• This decision marks a significant policy change, as Ukraine was previously restricted from using these weapons beyond its own borders. The move aims to boost Ukraine’s military capabilities as tensions escalate and Russia deepens its cooperation with North Korea. Missile range/Russian targets (image below is clickable/redirects to X):

• Since the war began in 2022, Russia has struggled to make significant progress, holding only about one-fifth of Ukraine. U.S. support, including long-range missiles like ATACMS, now enables Ukraine to strike deep into Russian territory, further weakening Russia’s position.
• Based on heavy casualties and losses in equipment, Russia’s military strength has been reduced by an estimated 20-30 percent, severely limiting its ability to challenge NATO or the U.S. directly. This has forced Russia to seek assistance from North Korea, highlighting its growing reliance on external support as its military power continues to decline.
• After the U.S. authorized the use of supplied missiles to strike targets within Russian territory, Putin has responded with threats of nuclear retaliation. With his military options shrinking, the nuclear option is his last card to play. Intelligence suggests these threats aim to project strength and deter escalation, as a nuclear strike would bring catastrophic consequences for Russia. This aligns with his strategy of using high-stakes rhetoric to maintain leverage as Russia’s conventional forces weaken.

Politics:

• Canadian Prime Minister Justin Trudeau announced a significant reduction in immigration targets, citing the country’s inability to handle previous levels. The plan to admit 500,000 new permanent residents annually has been scaled back to 395,000 in 2025, 380,000 in 2026, and 365,000 in 2027. The decision addresses growing challenges like housing shortages, overburdened social services, and public concerns about rapid population growth, aiming to better align immigration levels with Canada’s capacity to support new residents.

Environment & Weather:

• Tropical Depression Sara, previously tracked as Invest 99L, formed in the western Caribbean and made landfall in Honduras on November 16, 2024. The storm caused heavy rain, severe flooding, and damage, displacing thousands and closing major airports in Tegucigalpa and San Pedro Sula. It then moved toward Belize, bringing more flooding risks, before weakening near Mexico’s Yucatan Peninsula.
• Before becoming Sara, Invest 99L was monitored for its potential to strengthen, with forecasts showing possible paths into Central America or the Gulf of Mexico. The storm remained a tropical depression throughout, highlighting the unpredictability of tropical weather and the need for preparation in vulnerable areas.

Security:

• Yesterday, the U.S. Department of Defense (DoD) released its 2024 financial audit, receiving a disclaimer of opinion for the seventh consecutive year, meaning auditors couldn’t fully verify its financial records.
• Covering $3.8 trillion in assets and $4 trillion in liabilities, the audit highlighted ongoing issues with financial reporting and reconciling accounts. These challenges are most likely due to the complexity of tracking classified programs, such as black budgets, secret projects, and covert operations, which require strict secrecy for national security.

Space:

• Yesterday, SpaceX successfully completed two launches. The first mission sent the Optus-X telecommunications satellite into orbit for the Australian company Optus, departing from Kennedy Space Center. The second launch, from Vandenberg Space Force Base, deployed 20 Starlink satellites, including 13 equipped with Direct-to-Cell technology to enhance global mobile connectivity. Meanwhile, SpaceX is preparing for its next major milestone: the sixth flight test of Starship, scheduled for November 19, 2024, from Starbase in Texas, marking another step in the development of its largest fully reusable spacecraft.

• A new space race has emerged as nations like the U.S., Russia, China, India, and the UK, along with companies like SpaceX, focus on exploring the Moon, Mars, and beyond. NASA’s Artemis program is leading the charge, aiming to build Moon bases as a foundation for settling other planets. The Artemis II mission, scheduled for September 2025, will carry astronauts around the Moon to test systems for future lunar landings. The U.S. is currently at the forefront of this race, driven by SpaceX’s advanced and cost-effective rockets, which enable increasingly ambitious missions.
• The real reason for this renewed focus on space is the immense potential of other planets. Just as Earth provides water, oil, metals, and resources that power our industries, other planets hold unique materials and elements we haven’t yet discovered. These resources could revolutionize energy, technology, and medicine, unlocking new human capabilities. Nations understand the strategic and economic potential of these resources, recognizing their ability to transform global power dynamics. The U.S. is leading this new space race, not just to explore, but to secure its future and position itself as a global leader in the next era of human progress.

Statistic:

• Largest electricity companies by market capitalization:

1. 🇨🇳 CATL: $167.42B
2. 🇺🇸 Nextera Energy: $157.00B
3. 🇺🇸 Southern Company: $96.34B
4. 🇨🇳 China Yangtze Power: $91.70B
5. 🇺🇸 GE Vernova: $90.89B
6. 🇪🇸 Iberdrola: $89.88B
7. 🇦🇪 TAQA: $87.54B
8. 🇺🇸 Duke Energy: $86.64B
9. 🇸🇦 ACWA POWER Company: $76.35B
10. 🇮🇹 Enel: $72.73B
11. 🇺🇸 Constellation Energy: $70.14B
12. 🇳🇴 Equinor: $65.72B
13. 🇰🇷 LG Energy Solution: $62.25B
14. 🇬🇧 National Grid: $61.31B
15. 🇺🇸 Sempra Energy: $58.39B
16. 🇺🇸 Pacific Gas and Electric: $55.02B
17. 🇺🇸 American Electric Power: $51.29B
18. 🇺🇸 Dominion Energy: $48.40B
19. 🇺🇸 Vistra: $48.36B
20. 🇺🇸 PSEG: $44.33B
21. 🇮🇳 NTPC Limited: $42.78B
22. 🇺🇸 Xcel Energy: $39.88B
23. 🇺🇸 Exelon Corporation: $39.29B
24. 🇫🇷 ENGIE: $39.20B
25. 🇩🇪 Siemens Energy: $39.11B

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