The road less traveled (by bike)
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What recent developments in oil prices are affecting the market?
The price of oil plunges with this U.S.-Iran ceasefire and is now only 40% higher than it was before the U.S. airstrikes began. I'm David Brancaccio in Los Angeles. Crude oil traded in New York is at $94 a barrel at the moment, down 17% in these early hours of a U.S. and Iran ceasefire. Dan Coatsworth is head of markets at AJ Bell in the U.K.
It's pulled back, but it's pulled back nowhere near near as low as it was at the end of February. So it's still got quite a long way to fall again. And that's sort of suggesting that markets are happy. But just because we've got a two week ceasefire doesn't mean to say this situation has been resolved.
Tell you what, though, over out of the oil markets and into the equity markets, there is some kind of relief rally forming here. One wonders if that early reaction is a bit overdone, given the fact that so much uncertainty still swirls.
I think that markets still are slightly nervous. But, you know, as we've seen time and time again,
What new tariffs is President Trump proposing and why?
the market will need something new to latch onto to give them the confidence to say, let's plow ahead. So there's a really big question mark over what happens next in the coming days on the financial markets.
Dan Coatsworth at the investment firm AJ Bell. President Trump said today he wants 50% taxes on goods from countries that might be sending weapons to Iran. Marketplace's Nancy Marshall-Genzer is following this development.
In a social media post this morning, President Trump said any country supplying weapons to Iran will face a 50 percent tariff on, quote, any and all goods sold to the U.S., and there would be no exclusions or exemptions. Henrietta Trace, co-founder of Veda Partners, says Russia, North Korea, and China have all sent weapons to Iran, but the tariffs are aimed at Beijing.
Trade with Russia is already quite limited and trade with North Korea is in the same boat. So if you're going to tariff anything with an impact, it's going to be China.
But Trey says because of the Supreme Court's recent ruling on tariffs, the Trump administration would probably need to conduct an investigation before imposing these new duties, even though the president says they would take effect immediately. I'm Nancy Marshall-Genzer for Marketplace.
Again, the Dow is up more than 1,200 points, 2.8% now. With the VIX index of stock market volatility, the market's so-called fear or anxiety gauge is down 22%.
You can do this as a 15-year-old, a 75-year-old, or any year old in between, scouting for jobs that are a perfect fit for your skills and interests.
How does Bike Oven in Los Angeles empower bike repair?
I've been collecting mine for our Business Envy series this week, but you should too. We've heard from the company in Austin that electrifies vintage trucks. cars, the non-toxic space rocket company in Maine, the coffee roaster that doesn't sell coffee in San Francisco. But today, the bike shop in Los Angeles, where they use the teach a person to fish principle, where Melody Scallion is a volunteer.
Bike Oven is a cooperatively run bike shop. What we do is instead of people dropping their bikes off to get fixed, we teach them how to do it. We charge a sliding scale donation-based fee. We sell people bikes for cheap. We recently got our tax exemption nonprofit status. Congratulations. Thank you.
It's not your hope that someone comes in and says, please fix this, I'll be back in a day. That's not the concept.
We turn them away if they do that. We are all volunteers.
What services does Bike Oven provide to the community?
It wouldn't make sense. We don't want to store their stuff either. What we want is for people to be empowered to be their own mechanics. How do you know about bikes? I got into bikes through some vegan bike punks where I grew up in Westchester, Pennsylvania. Learned how to work on bikes there and then I moved out here in 2015. I've been working on bikes at the Bike Oven for about three years and I knew enough to build a bike. That's what allowed me to start volunteering, and now I've learned a lot more over the past three years. Feels like...
All right, a business. Feels like a community to me, having been here only for a couple minutes.
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Chapters
7 chapters
1
What recent developments in oil prices are affecting the market?
0:01–1:11
2
What new tariffs is President Trump proposing and why?
1:11–3:05
3
How does Bike Oven in Los Angeles empower bike repair?
3:05–3:59
4
What services does Bike Oven provide to the community?
3:59–4:46
5
How does volunteering at Bike Oven work and what skills are needed?
4:46–5:38
6
What role does community play in the biking culture of Los Angeles?
5:38–6:45
7
How can listeners get involved with Bike Oven or similar organizations?
6:45–7:38