CNBC Daily Open: U.S.-China meeting in focus while Trump wants to rename the Strait of Hormuz
All eyes are on the upcoming meeting between U.S. President Donald Trump and Chinese leader Xi Jinping at the White House, which could offer more clues to the U.S.-China trade relations as well as China's stance towards Iran amid the Mideast conflict.
TL;DR
- U.S. President Trump and Chinese leader Xi Jinping to meet at the White House amid focus on trade and Mideast policy.
- Trump expresses desire to rename the Strait of Hormuz and met with travel industry executives to boost international visitors.
- Oil exports from the Strait of Hormuz hit a wartime record; Venezuela's oil production to double in five years via Chevron investment.
- Artificial intelligence is a key topic at G20, with OpenAI CEO Sam Altman calling its use 'non-negotiable'.
- Uber plans to cut 10% of its workforce to consolidate management and lower costs.
- U.S. stocks closed higher, while Asian markets fell amid Iran-U.S. tensions.
- Concerns over inflation, higher interest rates, and debt persist globally.
- Ukrainian President Zelenskyy warns airlines to avoid Russian airspace due to expanded drone operations targeting Russian infrastructure.