Tigray official urges rebels to disarm after Mekelle takeover and reported drone strike
An official in Tigray's new federally backed administration has urged rebel forces to lay down their weapons after government-allied fighters seized the regional capital, Mekelle. The appeal came as residents in the northern Ethiopian region reported a drone strike that they said killed four people and injured six others. The latest developments point to continuing instability in a conflict that has already shifted control of the city.Redae Halefom Woldeselassie, a senior official in the caretaker administration, said rebel forces were collapsing and called on fighters to return home and resume civilian life. He made the remarks in Mekelle, saying this... [Continue Reading]
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Wall Street closes mixed as small caps and energy outperform, Meta sinks and chip stocks wobble
Executive summary: U.S. equities finished mixed, with the Dow and Russell 2000 outperforming while the S&P 500 and Nasdaq Composite slipped. The session was marked by a sharp drop in Meta, weakness across several precious metals, and a softer tone in AI and chip shares. Energy and smaller-cap stocks stood out as relative winners, while investors appeared to rotate away from some of the market’s most crowded growth trades. [Continue Reading]
Day News Recap: Deadly attacks and disasters hit from Jordan to Tibet as markets turn risk off
Jordan was shaken by a deadly shooting at the Hamoud church in Karak governorate, where gunmen opened fire during a funeral procession, killing at least six people and wounding 28 others. 🔗In the Middle East, Israel ordered a major offensive in Hebron after a checkpoint attack killed two Israeli soldiers and two Palestinian gunmen, while Israeli forces also arrested 36 Palestinians across the West Bank amid rising violence during the olive harvest. 🔗 🔗 An Israeli airstrike hit a building in Nuseirat in Gaza as residents searched the rubble, and Israel is heading into a tightly contested general election on... [Continue Reading]
Wall Street Opens Mixed as Small Caps and Banks Outperform While Gold, Silver and Chip Stocks Slide
Executive summary: U.S. markets opened with a split tone, as the Russell 2000 and financials led gains while the S&P 500, Nasdaq and several high-beta groups slipped. The sharpest pressure showed up in precious metals and chip-related stocks, with gold, silver, palladium and SOXX all lower. The move points to a rotation away from crowded defensive and AI-linked trades, even as small caps and banks found support. [Continue Reading]
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Australia sanctions North Korean companies and alleged 'shadow bankers' over illicit finance network
Australia has imposed fresh sanctions on two North Korean companies and two men accused of helping Pyongyang move money through fraudulent online work and other sanctions-evasion schemes. Foreign Minister Penny Wong said the measures target activity that helps fund North Korea's nuclear weapons programme. The government said the companies employed North Koreans who impersonated foreign nationals, worked on online platforms and sent their earnings back to key state agencies.The two men named in the sanctions are Sim Hyon Sop and Yu Py Ung. Australia said both have been identified by United States authorities as key financial brokers for North Korea.... [Continue Reading]
Wall Street closes mixed as Nasdaq sinks on AI fatigue, Dow and small caps hold up
Executive summary: U.S. markets finished with a sharp split on the day, as mega-cap tech and chip shares led a broad Nasdaq retreat while the Dow and Russell 2000 managed gains. Meta’s steep drop, weakness in Nvidia and the SOXX chip complex, and a slide in crude and natural gas weighed on risk appetite, while banks, energy and some cyclicals outperformed. The move underscores a rotation away from crowded AI winners and toward parts of the market tied more closely to rates, value and domestic growth. [Continue Reading]
Day News Recap: Kyiv hit again as Gulf tensions rise and markets turn risk off
Russia launched ballistic missiles at Kyiv and other Ukrainian regions overnight, killing at least two people and wounding 34, in another strike that came as Washington was pushing a peace effort. 🔗In Washington, unease is growing over Donald Trump’s approach to Vladimir Putin, after critics said his sanctions pressure has been undercut by a diesel deal with Russia, while Marco Rubio said Ukraine’s access to Starlink is a matter for SpaceX and Elon Musk. 🔗 🔗Middle East tensions deepened as Iran’s Revolutionary Guard said its doctrine has shifted from defensive to offensive and asymmetrical, while the United States ordered non... [Continue Reading]
Wall Street Opens Mixed as Tech Sells Off, Energy and Banks Hold Up
Executive summary: U.S. markets opened with a clear split, as the Dow Jones rose while the S&P 500 and Nasdaq Composite slipped, pressured by a sharp drop in AI and chip shares. Energy and financials outperformed early, helped by firmer relative demand for those groups even as crude oil, gold and several industrial metals moved lower. Bitcoin and Ether were slightly weaker, while the dollar eased against the yen and yuan. [Continue Reading]
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Israel arrests 10 over West Bank settler attacks as diplomatic pressure grows
Israeli police said on Monday that they had arrested 10 suspects in connection with weekend violence in the occupied West Bank, including attacks on a United States photojournalist and European diplomats. The detentions were carried out before dawn at several locations, according to police, who said the suspects were taken for questioning. Authorities said the case involves alleged violence, breach of a closed military zone order and illegal construction.The arrests came after pressure from the United States, France, Belgium and Poland following the assaults. Among those targeted was Heidi Levine, a photojournalist for The Washington Post, who was attacked while... [Continue Reading]
THE GROWTH ILLUSION: HOW GDP TRICKERY MASKED THE DEATH OF THE MIDDLE CLASS
We are fed a daily diet of triumphant economic headlines. The S&P 500 hits record highs, corporate earnings smash forecasts, and central bankers beam at GDP charts pointing up and to the right. Politicians line up to remind us how much "wealthier" we are compared to our parents or grandparents. On paper, they are right. The average worker makes vastly more dollars today than at any point in human history. But step outside the spreadsheet and into the street, and the math fails the reality test. If we are so undeniably prosperous, why does buying a modest home feel like... [Continue Reading]
