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The main events by the morning: June 6


June, 06 2024
watermark Economic news

  • Nvidia has overtaken Apple in terms of capitalization and has become the second most valuable company in the American market. Since the beginning of the year, Nvidia shares have soared by 148.6%, which allowed the company to overtake Apple in capitalization. Nvidia's success is attributed to the boom in artificial intelligence and the high demand for chips needed for AI to work.


  • Attacks on Russian oil continue. Drones attacked Russian oil infrastructure facilities again: The Novoshakhtinsky refinery in the Rostov region and an oil depot in the Belgorod region were affected. As a result of the attack, a fire started at the refinery, there were no injuries. 


  • Putin has denied accusations of plans to attack NATO. Russian President Vladimir Putin called statements about Russia's intentions to attack NATO «bullshit.» He stressed that Russia has no such plans and called on Western countries not to form an enemy image of Russia, as this harms the Western states themselves.


  • Hungary is striving to expand cooperation with Russia. Hungarian Prime Minister Viktor Orban announced his intention to expand cooperation with Russia in those areas that are not affected by sanctions. Orban stressed that relations with China cannot completely replace business ties with Russia. He also announced Hungary's plans to negotiate with NATO on non-participation in the conflict with Russia and noted the need to rid Europe of nuclear weapons.


  • Trade between Russia and the European Union has decreased fourfold in 10 years. The volume of trade between Russia and the EU in the first quarter of 2024 amounted to 17.8 billion euros, which is four times less than in the same period of 2014. A particularly significant reduction is observed in trade relations with individual countries: with Malta – by 74 times, with Luxembourg – by 45 times. Germany remains Russia's largest trading partner in Europe.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.