😬 Tensions Are Rising Between The US And...?

Good morning. US stock futures fell in Tuesday morning trading as investors mull over the strength of the US economy.

🛑 US set to hit Venezuela with fresh round of sanctions

📝 Our report: The U.S. is prepping fresh sanctions on Venezuelan officials after Nicolás Maduro's controversial July reelection. The Treasury Department is close to announcing 15 individual sanctions on Maduro-affiliated officials who it claims “obstructed the holding of free and fair presidential elections,” according to documents seen by Bloomberg.

 🔑 Key points:

• The measures target key leaders the US says collaborated with Maduro to undermine the July 28 vote, a list that includes members of the electoral authority, Venezuela’s top court, the National Assembly and the intelligence and military intelligence police, known as SEBIN and DGCIM.

• The latest wave of sanctions comes a month after the electoral authority declared that Maduro was reelected for a third consecutive term, despite electoral data published by the opposition that suggested he lost by a wide margin.

• The US is also preparing a separate group of sanctions on top regime financiers, according to individuals familiar with the matter.

💡 So what: If the U.S. imposes new sanctions on Venezuelan officials, it could further strain the already tense relationship between the two countries. Sanctions often lead to diplomatic friction, reducing the likelihood of dialogue and cooperation on various issues, such as energy and regional stability. These actions could also push Venezuela closer to other global powers like Russia and China, which have supported Nicolás Maduro's government, potentially altering geopolitical alignments in the region.

Tuesday - Construction Spending

Wednesday - U.S Trade Deficit, Fed Beige Book

Thursday - U.S Productivity

Friday - U.S Unemployment Rate, New York Fed President Williams Speaks

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🗙 Brazil ratifies X ban

WHAT: Brazil’s Supreme Court upheld a ban on Elon Musk's social network X, warning that anyone caught using a VPN to dodge it will face a fine. The site has been suspended since the end of August as order by Justice Alexandre de Moraes. The top-court judge is spearheading efforts to combat fake news and hate speech in Brazil and faces claims of overstepping his bounds by undermining free speech.

WHY: The suspension, according to Moraes’ order, is in effect until the company agrees to block profiles with anti-democratic or criminal content, pays fines imposed so far and names a legal representative in the country.

🚫 SEC challenges defunct crypto exchange’s repayment plan

WHAT: A new court filing reveals the SEC might throw a wrench in FTX's plans to repay users in stablecoins, arguing it reserves the right to challenge crypto transactions. In part, the SEC’s apparent opposition to stablecoin repayments stems from the unclear legality of these transactions under existing securities laws.

WHY: This spring, FTX pledged to repay up to $16.3 billion to users under a new restructuring plan in which it promised to return up to 118% in cash for those owed less than $50,000. However, last month, the SEC indicated in a court document that it had concerns about the FTX repayment plan.

🎵 TikTok parent goes loan hunting

WHAT: TikTok-owner ByteDance is dialing up banks for a $9.5 billion loan, aiming to secure the biggest dollar-denominated corporate facility in Asia outside Japan, according to insiders. Citigroup, Goldman Sachs and JPMorgan are the coordinators of the financing, which carries a tenor of three years and can be extended to up to five years, the sources said.

WHY: Bloomberg News had previously reported that the loan will be partly used to refinance an existing $5 billion facility taken out by the company.

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