Israel seeking US support for further Iran strikes: Report
President Donald Trump took credit for ending what he coined "the 12-day war" between the two countries last month, but only after the US conducted its own strikes on Iran's three nuclear facilities - something no other US president had done.
"Israeli officials say Netanyahu wants to reach understandings with Trump about future US nuclear negotiations with Iran, and on possible scenarios that would justify renewed military strikes," the Axios report said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
41 minutes ago
- Zawya
Shares steady, dollar firms on US tariff letters; oil dips
TOKYO: Stock markets in Asia took in stride the latest twist in U.S. President Donald Trump's tariff roll-out on Tuesday, as the dollar held onto gains and oil retreated. Shares on Wall Street fell after Trump sent letters to 14 countries, including Japan and South Korea, unveiling sharply higher tariffs on imports into the United States, while also postponing their implementation to August 1. Japan's Nikkei stock gauge opened lower but then turned positive after Trump described that deadline as "firm, but not 100% firm" and said tariffs may be adjusted for some countries. The Aussie dollar rose ahead of a Reserve Bank of Australia decision later in the day. Market reaction to the tariff announcements was muted on memories of Trump's rapid walk back of his "Liberation Day" duties initially set out on April 2, said Tapas Strickland, head of market economics at National Australia Bank. "There's going to be a lot of volatility as the headlines start to emerge, as more of these letters come out, and as the negotiations really come to the fore ahead of that August 1 deadline," Strickland said on an NAB podcast. In April, Trump capped all of the so-called reciprocal tariffs with trading partners at 10% until July 9 to allow for negotiations. Only two agreements, with Britain and Vietnam, have been reached. In June, Washington and Beijing agreed on a framework covering tariff rates, restoring a fragile truce in their trade war. Tariffs on Japan and South Korea are now due to go up to 25% on August 1. Japanese Prime Minister Shigeru Ishiba called the hike deeply regrettable and said his nation would continue negotiations with the U.S. The European Union will not be receiving a letter setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday. The EU still aims to reach a trade deal by Wednesday after European Commission President Ursula von der Leyen and Trump had a "good exchange," a commission spokesperson said. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% in early trade. Japan's Nikkei stock index rose 0.4% while South Korea's KOSPI jumped 1.5%. The dollar rose 0.2% to 146.36 yen, touching a two-week high. The euro was flat at $1.1741. The Aussie advanced 0.4% to $0.6516 before a meeting by the central bank where policymakers are widely expected to deliver a 25-basis-point cut. U.S. crude dipped 0.5% to $67.59 a barrel after surging nearly 2% on Monday. Spot gold edged 0.2% lower. In early trade, pan-region Euro Stoxx 50 futures were down 0.1%, German DAX futures were down 0.1% at 24,133, and FTSE futures slid 0.3%. (Reporting by Rocky Swift; Editing by Jacqueline Wong)
Zawya
41 minutes ago
- Zawya
Oil prices ease as traders assess US tariffs, OPEC+ output hike
Oil prices eased on Tuesday after rising almost 2% in the previous session, as investors assessed new developments on U.S. tariffs and a higher-than-expected OPEC+ output hike for August. Brent crude futures dropped 21 cents at $69.37 a barrel by 0041 GMT. U.S. West Texas Intermediate crude fell 24 cents at $67.69 a barrel. U.S. President Donald Trump on Monday began telling trade partners, which included major suppliers South Korea and Japan as well as smaller U.S. exporters like Serbia, Thailand and Tunisia, that sharply higher U.S. tariffs will start August 1, marking a new phase in the trade war he launched earlier this year. Trump's tariffs have prompted uncertainty across the market and concerns they could have a negative effect on the global economy and, consequently, on oil demand. However, there are some signs current demand remains strong, particularly in the U.S., the world's biggest oil consumer, which has supported prices. A record 72.2 million Americans were projected to travel more than 50 miles (80 km) for Fourth of July vacations, data from travel group AAA showed last week. Investors were bullish heading into the holiday period with data from the U.S. Commodity Futures Trading Commission released on Monday showing money managers raised their net-long futures and options positions in crude oil contracts in the week up to July 1. Regarding supplies, on Saturday the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, agreed to raise production by 548,000 barrels per day in August, exceeding the 411,000-bpd hikes they made for the prior three months. The decision removes nearly all of the 2.2 million-bpd of voluntary cuts and analysts at Goldman Sachs expect OPEC+ to announce a final 550,000-bpd increase for September at the next meeting on August 3. However, the actual output increase has been smaller than the announced levels so far and most of the supply has been from Saudi Arabia, analysts said. (Reporting by Stephanie Kelly; Editing by Christian Schmollinger)
Zawya
41 minutes ago
- Zawya
US Stocks: Wall St knocked lower by tariff jitters; Musk's political plan hits Tesla
Wall Street's major indexes closed sharply lower on Monday, after U.S. President Donald Trump announced hefty tariffs against Japan, South Korea and other trading partners while Tesla shares sank after CEO Elon Musk said he was forming a new U.S. political party. Indexes added to losses after Trump announced the tariff rates against Japanese and South Korean imports, due to take effect on August 1. Stocks wobbled further in the late afternoon when he announced hefty tariffs on Malaysia, Kazakhstan, South Africa, Laos and Myanmar. Last week, both the Nasdaq and the S&P 500 ended three sessions with record high closes. The latest record finishes came on Thursday after a robust jobs report. "Markets had been telling us that peak tariff risk is behind us, but to have tariffs back in the forefront is causing some skittishness," said Emily Roland, co-chief investment strategist at Manulife John Hancock Investments in Boston. "Investors were getting to that period of ebullience in markets and we're taking a little step back from that." But investors likely have some hopes the announcements are not permanent, she said: "That's the pattern we've been in, announcing punitive tariffs and then dialing that back a little bit. That could certainly be the next phase of this back and forth negotiation." The Dow Jones Industrial Average fell 422.17 points, or 0.94%, to 44,406.36, the S&P 500 lost 49.37 points, or 0.79%, to 6,229.98 and the Nasdaq Composite lost 188.59 points, or 0.91%, to 20,412.52. The S&P 500's biggest drag came from shares of electric vehicle maker Tesla, which dived 6.8%, after CEO Musk announced formation of a new political party named the "America Party", further escalating his feud with Trump. It was Tesla's biggest daily slide since June 5, and its lowest closing level since that session. Investors also awaited other U.S. trade announcements after Trump said on Sunday that the U.S. was on the cusp of several deals and would notify other countries of higher tariffs by July 9, with new duties to take effect on August 1. On Monday, Trump threatened an extra 10% tariff on countries aligning themselves with the "Anti-American policies" of the BRICS group of Brazil, Russia, India, China and South Africa. In early April, stock indexes saw dramatic volatility after Trump unveiled a base tariff rate of 10% on most countries and additional duties ranging up to 50% on April 2 and then announced a 90-day pause days later. In early April, the Nasdaq confirmed a bear market or a 20% drop from its recent record, while the S&P 500 had narrowly averted a bear. Both indexes had returned to record levels by late June. On Monday, 9 of the S&P 500's 11 major industry sectors lost ground. The biggest decliners were consumer discretionary off 1.25% and energy down 1.04%. The only gainers were defensive sectors with utilities adding 0.17% and consumer staples, edging up 0.11%. Shares of WNS Holdings rallied 14.3% after the French IT services firm Capgemini agreed to buy the outsourcing firm for $3.3 billion in cash. Trump's tariff policies have stoked inflation worries, further complicating the Federal Reserve's path to lower rates. Minutes of the Fed's June meeting, scheduled for release on Wednesday, should offer more clues on the policy outlook. Traders are betting on a roughly 95% probability that rates will remain unchanged in July while the odds for a September cut are close to 60%, according to CME Group's FedWatch tool. Another area of investor focus is U.S. tax-cut and spending plans, signed into law by Trump late last week. These are expected to swell the national deficit by over $3 trillion in the next decade. On U.S. exchanges 16.50 billion shares changed hands on Monday compared with the 18.18 billion average for the last 20 trading sessions. Declining issues outnumbered advancers by a 3.44-to-1 ratio on the NYSE where there were 209 new highs and 32 new lows. On the Nasdaq, 1,226 stocks rose and 3,354 fell as declining issues outnumbered advancers by a 2.74-to-1 ratio. The S&P 500 posted 25 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 103 new highs and 54 new lows. (Reporting by Sinéad Carew in New York, Pranav Kashyap and Nikhil Sharma in Bengaluru; Editing by Maju Samuel and David Gregorio)
