Podcast Summary
Drug shortages reach an all-time high in US: Supply chain disruptions, manufacturing issues, high demand, and price competition cause over 300 medication shortages in Q1 2024. Robots may take jobs, but Amazon's exec assures innovation creates new ones. Thyssenkrupp plans production cuts and job losses at its steel business.
Drug shortages in the US are at an all-time high, with over 300 medications in short supply in Q1 of 2024. This is due to a combination of supply chain disruptions, manufacturing quality issues, high demand, and price competition. Meanwhile, concerns about robots taking jobs away have been put to rest by Amazon's executive, who insists that innovation creates new job categories and enhances existing ones. Lastly, Thyssenkrupp has announced plans for a restructuring program at its steel business, which includes substantial production capacity cuts and job losses.
Company's production capacity to be impacted by restructuring, earnings season begins, and economic events upcoming: A company's production capacity will be affected by restructuring, earnings season has started, and significant economic events are upcoming, including crude oil price increases, Bitcoin growth, and shareholder votes on buyout offers.
The restructuring at the production site will impact both downstream processing and administrative areas, affecting the company's capacity to produce 11.5 million tons. Additionally, earnings season has begun, with major banks reporting their earnings today. Crude oil prices have risen, and Bitcoin continues to grow. US Steel shareholders will vote on a buyout offer from Nipson Steel at an extraordinary meeting. The Nasdaq and S&P 500 saw gains last Thursday, while the Dow remained unchanged. Financials were the worst-performing sector. Looking ahead, Dow, S&P, and Nasdaq futures are currently in the red, and the University of Michigan consumer sentiment index and a speech by the Fed's Mary Daly are upcoming economic events. The stock of Applied Digital has dropped significantly following disappointing fiscal Q3 results. Join Seeking Alpha for in-depth investor discussions on stocks and ETFs.