Wall Street poised for gains following markets' worst week in almost 18 months
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Markets on Wall Street are set to rebound after the worst trading week in 18 months; S&P 500 and Dow Jones futures rose 0.7% in premarket trading; Boeing shares increased by 4.1% after reaching a new contract agreement with the International Association of Machinists and Aerospace Workers for 33,000 workers, providing a 25% pay raise over four years; Big Lots filed for Chapter 11 bankruptcy protection and plans to sell to Nexus Capital Management, with shares jumping over 9% before trading was suspended; Apple to unveil iPhone 16, the first model tailored for AI, with shares unchanged; U.S. inflation report due this week ahead of Federal Reserve's policy meeting, with expectations for the first interest rate cut in over four years; Japan's GDP grew by 2.9% in Q2, below expectations; Chinese markets faced losses due to disappointing inflation data; U.S. crude rose to $68.58 a barrel; S&P 500 dropped 1.7% to 5,408.42 on Friday, marking its worst week since March 2023.

#WallStreet #Boeing #BigLots #Apple #Inflation #FederalReserve #Japan #China #StockMarket #EconomicGrowth

https://www.naharnet.com/stories/en/307902-wall-street-poised-for-gains-following-markets-worst-week-in-almost-18-months 

 Global shares mostly rise as Japan and other markets return to calm
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Global shares traded mostly higher Tuesday, as the Tokyo benchmark bounced back and calmed after last week's plunge. France's CAC 40 edged up nearly 0.2% in early trading to 7,263.55, while Germany's DAX rose 0.3% to 17,778.44. Britain's FTSE 100 fell 0.1% to 8,201.62. U.S. shares were set to drift higher with Dow futures rising 0.3% to 39,593.00. S&P 500 futures added 0.4% to 5,391.75. In Asia, Japan's benchmark Nikkei 225 jumped 3.5% to finish at 36,232.51. Australia's S&P/ASX 200 rose nearly 0.2% to 7,826.80. South Korea's Kospi gained 0.1% to 2,621.50. Hong Kong's Hang Seng added 0.4% to 17,174.06, while the Shanghai Composite rose 0.3% to 2,867.95. In Tokyo, computer chip issues were in demand, with Tokyo Electron surging 6.2%, echoing the strong performance of technology-related issues on Wall Street. Investors also seemed to be cheered by how the yen's recent volatility appeared to be calming. Although a cheap yen is a boon for Japan's major exporters, like Toyota Motor Corp., by boosting the value of overseas earnings when translated into yen, a cheap currency erodes a nation's purchasing power.



https://www.naharnet.com/stories/en/307264-global-shares-mostly-rise-as-japan-and-other-markets-return-to-calm 

 Trump's economic plans include proposed tariffs, tax cuts and no taxes on tips
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Trump's economic plans include proposed tariffs, tax cuts, and no taxes on tips. The Republican National Convention focused on the economy, with speakers arguing that Trump would fix inflation and bring back prosperity. Trump wants tariffs on trade partners, no taxes on tips, and a reduction in the corporate tax rate. The Republican platform promises to defeat inflation, bring down prices, and increase oil, natural gas, and coal production. Democrats and economists argue that Trump's ideas would cause inflation, harm the middle class, and increase the national debt. Trump's campaign declined to answer questions about his economic views. Biden has an extensive budget proposal that outlines his economic vision. Trump's plans have received bipartisan support for cutting regulations and lowering the corporate tax rate. However, his proposed tariffs could raise costs and worsen inflation. Some economists believe that tariffs are more of a political strategy than an economic one. Trump's proposed tariffs on imports could make raw materials more expensive and raise prices for consumers. The risks of Trump's economic policies need to be understood before it's too late.



http://www.naharnet.com/stories/en/306596 

 Economic turmoil in Bolivia fuels distrust in government
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Economic turmoil in Bolivia has led to a shortage of U.S. dollars, causing a crisis for businesses and individuals. President Luis Arce denies the country is in an economic crisis, but many Bolivians have lost trust in him. The distrust was further fueled by a spectacle that the government called a failed coup d'etat and opponents called a staged self-coup. The economic crisis is rooted in dependence on the dollar, draining international reserves, mounting debt, and failures to produce products like gas. The shortage of dollars has led to a black market, gouged prices, and a decline in purchasing power. The discontent has resulted in protests and strikes, and there is a growing desire for an outsider to gain traction in the upcoming elections. The economic crisis has caused deep uncertainty and has pushed many Bolivians into poverty.

#Bolivia #EconomicTurmoil #GovernmentDistrust #UsDollars #Shortage #Crisis #PresidentLuisArce #Coup #BlackMarket #Protests #Strikes #Elections #Poverty

http://www.naharnet.com/stories/en/306267 

 Pope appeals for urgent humanitarian aid for Gaza, backs cease-fire proposals
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Pope Francis has called for urgent humanitarian aid to reach Palestinians in Gaza and for Israel and Hamas to accept cease-fire proposals and release hostages. He thanked Jordan for hosting an international humanitarian aid conference for Palestinians. The Pope threw his support behind the cease-fire proposals and expressed hope that they would be accepted by both sides. He also recalled a peace prayer he hosted 10 years ago with Israeli President Shimon Peres and Palestinian leader Mahmoud Abbas. The Pope emphasized the importance of humanitarian aid reaching those in need and urged the international community to act urgently.

#PopeFrancis #Gaza #HumanitarianAid #Ceasefire #Israel #Hamas #Jordan #PeacePrayer

http://www.naharnet.com/stories/en/305817 

 Global stocks trade mixed after Wall Street logs modest gains
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Global shares traded mixed as investors weighed recent data highlighting a slowing U.S. economy. France's CAC 40 rose 0.4%, Germany's DAX surged 0.6%, and Britain's FTSE 100 edged up 0.2%. In Asian trading, Japan's Nikkei 225 shed 0.9%, Australia's S&P/ASX 200 edged up 0.4%, South Korea's Kospi jumped 1.0%, Hong Kong's Hang Seng slipped 0.1%, and Shanghai Composite dipped 0.8%. Australia's economy grew 0.1% in Q1, weaker than expected. Cash income for Japanese workers rose 2.1% in May. The S&P 500 ticked up by 0.2%, Dow Jones Industrial Average rose 0.4%, and Nasdaq composite added 0.2%. The U.S. Federal Reserve may cut interest rates to ease pressure on financial markets. Concerns about a slowing economy have hit the price of crude oil. In energy trading, benchmark U.S. crude rose to $73.49 a barrel and Brent crude added to $77.78 a barrel. The U.S. dollar rose to 156.22 Japanese yen from 154.84 yen, and the euro cost $1.0878.

#GlobalStocks #WallStreet #UsEconomy

http://www.naharnet.com/stories/en/305738 

 European, Asian stocks rise as traders eye US inflation
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Asian and European stock markets rose as investors await fresh U.S. and European inflation data for more clarity on the outlook for interest rates. Last week, Federal Reserve officials warned they wanted more evidence that prices were being brought under control, fueling worries they might not cut interest rates this year. Wall Street's S&P 500 index and the Nasdaq both benefited from figures showing one-year expectations for prices edged down slightly, while consumer sentiment picked up. Asian markets were also boosted by news that profits at China's industrial companies rose in April. European markets rose despite a survey showing German business sentiment stagnated in May. London and Wall Street were closed for a holiday. Focus is now turning to the release of the U.S. personal consumption expenditures (PCE) index, which is the Fed's preferred gauge of inflation. Eurozone inflation data for May will be released on Friday. Oil prices extended last week's gains ahead of a key June 2 meeting of OPEC and other major producers. In company news, the stock price of Evergrande New Energy Vehicle, the electric vehicle arm of China's Evergrande, more than doubled after it emerged liquidators were in talks with potential buyers.

#StockMarkets #UsInflation #FederalReserve #InterestRates #S&p500 #Nasdaq #China #IndustrialCompanies #GermanBusinessSentiment #EurozoneInflation #Opec #Evergrande

http://www.naharnet.com/stories/en/305502 

 Damascus car bomb kills army liaison with Hezbollah
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A car bomb in Damascus killed a Syrian officer who worked closely with Hezbollah. The officer was from the eastern province of Deir Ezzor and was tasked with recruiting Syrian fighters for Hezbollah. The bombing occurred in the upscale Mazzeh district, and state media reported one person dead without identifying the victim. This comes amid regional tensions as Israel fights a war against Hamas in Gaza. Israel has conducted hundreds of airstrikes against Hezbollah and other Iran-backed targets in Syria since the civil war began in 2011.

#CarBomb #Syria #Hezbollah #War #Gaza

http://www.naharnet.com/stories/en/305478 

 Europe stocks rise on eve of US payrolls; gold shines
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European equities rose on the eve of key U.S. data, while gold set another record peak on haven demand and hopes of interest-rate cuts. Frankfurt, London, and Paris stocks ticked higher. Gold struck another record peak at $2,304.96 per ounce in Asia. Oil sat near five-month peaks with Brent close to $90 per barrel. All eyes will now be on Friday's upcoming non-farm payrolls report, a key indicator for the world's biggest economy. London's FTSE 100 was up 0.4 percent at 7,972.59 points. Paris' CAC 40 was up 0.1 percent at 8,159.13. Frankfurt's DAX was up 0.1 percent at 18,377.27. The Euro STOXX 50 was up 0.1 percent at 5,076.18. Tokyo's Nikkei 225 was up 0.8 percent at 39,773.14. Hong Kong's Hang Seng Index and Shanghai's Composite were closed for holidays. New York's Dow was down 0.1 percent at 39,127.14. The dollar/yen exchange rate was up at 151.75 yen. The euro/dollar exchange rate was unchanged at $1.0857. The pound/dollar exchange rate was down at $1.2657. The euro/pound exchange rate was up at 85.77 pence. Brent North Sea Crude was down 0.1 percent at $89.30 per barrel. West Texas Intermediate was down 0.1 percent at $85.36 per barrel.

#EuropeStocks #UsPayrolls #Gold #InterestrateCuts

http://www.naharnet.com/stories/en/304389 

 As Biden prepares for elections, more than 6 in 10 US adults doubt his mental capability
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A poll finds that over 6 in 10 US adults doubt President Joe Biden's mental capability to serve effectively as president. This is a slight increase from January 2022. The same poll also found that nearly 6 in 10 lack confidence in the mental capability of former President Donald Trump. Going into his State of the Union address, only 38% of US adults approve of how Biden is handling his job as president, while 61% disapprove. Democrats are more likely to favor his performance, but there is broad discontent on how Biden is handling various issues. About 4 in 10 Americans approve of the way Biden is handling healthcare, climate change, abortion policy, and the conflict between Russia and Ukraine. However, people are less satisfied with his handling of immigration, the conflict between Israelis and Palestinians, and the economy. Additionally, 57% of Americans think the national economy is worse off than before Biden took office. The poll also reveals that many respondents are pessimistic about their choices in November due to concerns about age and cognitive decline. Both Democrats and Republicans express doubts about the mental capability of the other party's likely nominee. Biden's age is seen as a liability that has overshadowed his policy achievements. The president has tried to deflect concerns by joking about his age and taking jabs at Trump's gaffes. However, the report from a special counsel's investigation described Biden's memory as "hazy," "fuzzy," "faulty," "poor," and with "significant limitations."

#JoeBiden #UsElections #MentalCapability #Poll #ApprovalRating

http://www.naharnet.com/stories/en/303714