🌯💰 Your UberEats Order Just Got More Pricey
Happy Hump Day everyone,
What an eventful week. China went back into lockdown due to a Covid outbreak, Goldman Sachs pulled out of Russia, Tom Brady came out of retirement and Amazon did a 20:1 stock split.
In other news, me and my team have been working on some new types of content for the YouTube channel! There won’t be an upload this week, but keep an eye out! Most likely the following week. If you have not subscribed to the channel yet, you can do so here.
In world news, the Russia/Ukraine conflict continues to develop as senior US and Chinese officials are set to meet in Rome, Italy to discuss the effect of Russia’s war on regional and global security.
Leading up to the meeting between the U.S. and China, a U.S. official said that Russia had asked China for military equipment to use in its invasion of Ukraine. Something that the West has done en masse for the Ukrainian military; supplying equipment such as anti-tank weapons like the Javelin missile and NLAWs.
At the onset of the war, the prospect of China potentially entering or invading Taiwan was a real fear for many of those in the west. However, the Chinese response has been a lot more muted than originally thought. China has denied claims of Russia asking for military assistance and even accused Washington of spreading ‘disinformation’ over China’s role in the war. China has already come out saying that they oppose the West putting more arms and ammunition into Ukraine and it would be hypocritical of them if they were to start helping Russia.
Although, China is not exactly known in the West to be a straight shooter so there will always be some doubt as to whether they stick to their word. China has stayed out of the conflict as of late and has even started to distance themselves from Moscow, which signals their intentions.
We, at Hump Days, are committed to keeping you up to date on the biggest stories. We have a lot of exciting things to come and cannot wait to share them with you soon! Have a wonderful rest of the week and if you enjoyed, please consider sharing with a friend!
-Humphrey & Rickie
In the Markets
RH: Market rebounded amid a volatile week. U.S. Oil (WTI) took a major hit and the yield on the 10-year treasury is up big.
Weekly News Roundup
Russia Seeking Military Aid from China, says US Official (Al Jazeera)
Russia has asked China for military equipment to use in its invasion of Ukraine. However, China has since denied these claims and has remained committed to its stance opposed to providing arms and ammunition into the conflict.
Uber Imposes New Customer Fees to Offset Gas Prices (WSJ)
Uber us imposing a temporary surcharge on U.S. customers to soften the blow to drivers from mounting gas prices. The surcharge will go directly to drivers and will range from 35-55 cents. The charge will be in effect for the next two months.
RH: Add this to a long list of fees already on Uber & UberEats. My single Chipotle burrito will now be $20.55!
HY: I think gas prices slowly come down in the next few months, keep an eye on the price of oil. Current price as of writing Wednesday AM is $96.80, so gas prices should follow suit over time if these levels stabilize.
AMC Uses Its Meme Stock Money to Buy a Gold Mine (Barrons)
AMC quite literally struck gold. In news that surprised Wall Street analysts, AMC Entertainment, the movie theatre chain, invested $27.9M in cash in Hycroft Mining Holding and its 71,000 acre gold and silver mine in northern Nevada.
RH: The stock jumped ~3% following the news. Good to see AMC diversifying 🤔
HY: Pretty funny, no real comment other than I think it’s “interesting”.