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Al Etihad
13 hours ago
- Business
- Al Etihad
Wall Street indexes hit fresh peaks on trade, Fed cut optimism
27 June 2025 22:54 (REUTER) Wall Street's main indexes rose on Friday, pushing the S&P 500 and the Nasdaq to intraday record highs as investors pinned their hopes on deeper interest-rate cuts and the US striking deals with its biggest trading S&P 500 (.SPX) and the Nasdaq Composite (.IXIC) both rose more than 0.5%, surpassing their previous peaks touched in February and December, respectively. The Nasdaq looked on course to confirm a bull market, having recovered more than 20% from a trough in April."I think the driver for that momentum is the dissipation of concerns over the magnitude of tariffs. That was the biggest concern in the early April time frame and I think that headwind seems to be dissipating a bit," said Art Hogan, chief market strategist at B Riley to the upbeat sentiment, Washington reached an agreement with China on expediting rare-earth shipments to the United States, a White House official said, days ahead of the July 9 deadline for US President Donald Trump's "reciprocal" Treasury Secretary Scott Bessent said the Trump administration's trade deals with other countries could be done by Labor Day, citing the country's 18 main trading are focusing on the interest-rate trajectory after the Wall Street Journal reported that Trump toyed with the idea of announcing US Federal Reserve Chair Jerome Powell's replacement by September or on Friday showed US consumer spending fell unexpectedly in May as the boost from consumers preemptively buying goods such as motor vehicles ahead of tariffs faded, while monthly inflation rose moderately, supporting bets for rate now price in a 20.7% chance of a rate cut in July, compared with 14.5% last week, according to CME Group's FedWatch 11:28 a.m. ET, the Dow Jones Industrial Average (.DJI) rose 403.09 points, or 0.93%, to 43,789.88, the S&P 500 (.SPX) gained 36.14 points, or 0.58%, to 6,177.16, and the Nasdaq Composite (.IXIC) added 108.05 points, or 0.54%, to 20, of the 11 major S&P 500 sub-sectors rose. Energy stocks were the only laggards, falling 0.5%.Shares of Nvidia (NVDA.O), the world's most valuable company, rose 1.8% to touch a record high, while other tech heavyweights including (AMZN.O) and Apple (AAPL.O) added 1.1% and 0.2%, benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) were on track for their best weekly performance in more than a month, while the blue-chip Dow (.DJI) was set for a weekly advance if gains Global Wealth Management raised its year-end target for the S&P 500 to 6,200 from its prior forecast of 6,000, banking on softening trade (NKE.N) shares jumped 15.8% after it forecast a smaller-than-expected drop in first-quarter Lululemon Athletica (LULU.O) rose 1.6% after Nike's results, while Hoka-owner Deckers Outdoor (DECK.N) added 2.7%.Advancing issues outnumbered decliners by a 2.01-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P 500 posted 27 new 52-week highs and two new lows, while the Nasdaq Composite recorded 70 new highs and 34 new lows.
Express Tribune
20-06-2025
- Politics
- Express Tribune
One killed, 14 injured in Ukraine's Odesa region
A firefighter works at the site of a Russian drone strike, amid Russia's attack on Ukraine, in Odesa, Ukraine June 20, 2025. Photo:REUTER Listen to article One person was killed and at least 14 were injured when Russian drones attacked the Ukrainian Black Sea city of Odesa overnight, damaging high-rise buildings and railway infrastructure, local authorities and prosecutors said on Friday. Odesa is Ukraine's largest Black Sea port, key for imports and exports, and has been under constant missile and drone attacks by Russia since the war began. "Despite the active work of air defence forces, there is damage to civilian infrastructure, including residential buildings, a higher education institution, a gas pipeline and private cars," local governor Oleh Kiper said on Telegram messenger. Kiper released photos of burning houses and charred high-rise buildings. Local emergencies service said that during the attack there were at least 10 drone strikes on residential buildings, causing massive fires. Ukraine's air force said on Friday that Russia had launched 86 drones on Ukraine overnight. The military noted its air defence units shot down 34 drones while another 36 drones were lost - in reference to the Ukrainian military using electronic warfare to redirect them - or they were drone simulators that did not carry warheads. However, the military reported that drones hit 8 locations. Ukrainian state railways Ukrzaliznytsia reported that Odesa railway station was damaged during the attack, with power wires and rails damaged. Russian drones also attacked Kharkiv in northeastern Ukraine overnight, damaging several private and multi-storey houses, Kharkiv officials said. Read: Russian strikes kill 14 in Kyiv Previously, Russia launched dozens of drones and missiles at Kyiv in the early hours of June 17, killing at least 14 people and wounding dozens of others, as negotiations faltered between Kyiv and Moscow. President Volodymyr Zelensky described the latest overnight barrage as "one of the most horrific attacks" on Kyiv since the Kremlin launched its brutal invasion of Ukraine more than three years ago. Last night, the Russians launched massive attacks on Odesa, Kharkiv, and their outskirts using more than twenty strike drones. Around 20 people were injured, including 2 children – girls aged 12 and 17 – and 3 State Emergency Service workers who had arrived at the scene of the… — Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) June 20, 2025 Zelensky said a total of 440 drones and 32 missiles were launched in the strikes nationwide and urged the international community not to "turn a blind eye". "Our families had a very difficult night. One of the biggest attacks from the very beginning of the war," Zelensky said at the G7 summit in Canada. "We need support from our allies," he added. AFP journalists saw smoke billowing over the capital's skyline at dawn and a multiple-storey housing block gutted by the attack. Rescue workers were scrambling to find any survivors buried beneath the rubble. "It was probably the most hellish night in my memory for our neighbourhood," 20-year-old student Alina Shtompel told AFP. "It is indescribably painful that our people are going through this right now." More than three years into its full-scale invasion of Ukraine, Moscow has stepped up attacks despite efforts by the United States to broker a ceasefire.
Straits Times
17-06-2025
- Business
- Straits Times
Taiwan completes first sea trial for domestically made submarine in defence milestone
Taiwan has said it hopes to deploy at least two such domestically developed submarines by 2027. PHOTO: REUTERS TAIPEI - Taiwan completed the maiden sea trial for its first domestically developed submarine on June 17, a major step in a project aimed at strengthening deterrence against the Chinese navy and protecting vital sea lanes in the event of war. Taiwan, which China claims as its own territory, has made the indigenous submarine programme a key part of an ambitious project to modernise its armed forces as Beijing stages almost daily military exercises to assert its sovereignty. The submarine programme has drawn on expertise and technology from several countries, including the United States and Britain, a breakthrough for diplomatically isolated Taiwan, whose government rejects Beijing's territorial claims. Taiwan's CSBC Corp, which is leading construction of what is eventually planned to be eight submarines, said in a statement that the first ship, named the Narwhal, had completed its first test at sea, proving systems including propulsion, ventilation and radar. 'CSBC will continue to make adjustments and improvements to the systems based on the test results,' it said in a statement, showing pictures of the submarine sailing above water off the southern Taiwanese port of Kaohsiung. Underwater tests will follow, with the depth gradually increased, the company added. The Narwhal had been due to be delivered to the navy in 2024, joining two existing submarines purchased from the Netherlands in the 1980s, but the programme has been hit with delays. Taiwan has said it hopes to deploy at least two such domestically developed submarines by 2027, and possibly equip later models with missiles. The first submarine, with a price tag of NT$49.36 billion (S$2.14 billion), will use a combat system by Lockheed Martin Corp and carry US-made Mark 48 heavyweight torpedoes. Taiwan's armed forces are dwarfed by those of China, which has two operational aircraft carriers and ballistic missile submarines and is developing stealth fighter jets. Taiwan is modernisising its military to be able to fight 'asymmetric warfare', using mobile and agile systems like submarines, drones and truck-mounted missiles to fend off its much-larger adversary China. REUTER S Join ST's Telegram channel and get the latest breaking news delivered to you.
Express Tribune
14-06-2025
- Politics
- Express Tribune
US Marines detain first civilian in LA amidst protests
.S. Marines detain a person outside the Wilshire Federal Building after Marines were deployed to Los Angeles, as protests against federal immigration sweeps continue, in Los Angeles, California, U.S. June 13, 2025. Photo:REUTER Listen to article Marines deployed to Los Angeles temporarily detained a civilian on Friday, the US military confirmed after being presented with Reuters images, in the first known detention by active-duty troops deployed there by President Donald Trump. The incident took place at the Wilshire Federal Building in Los Angeles where Marines took charge of the mission to protect the building earlier on Friday, in a rare domestic use of US troops after days of protests over immigration raids. Reuters images showed Marines apprehending the man, restraining his hands with zip ties and then handing him over to civilians from the Department of Homeland Security. Asked about the incident, the US military's Northern Command spokesperson said active duty forces "may temporarily detain an individual in specific circumstances." Ensuring our Marines are ready to serve! 2nd Bn, 7th Marines supports #LosAngeles under @USArmyNorth's #TaskForce51, prioritizing rest & recovery for maximum operational effectiveness. Stay informed — U.S. Northern Command (@USNorthernCmd) June 13, 2025 "Any temporary detention ends immediately when the individual(s) can be safely transferred to the custody of appropriate civilian law enforcement personnel," a spokesperson said. Speaking to reporters after he was released, the civilian identified himself as Marcos Leao, 27. Leao said he was an Army veteran on his way to an office of the Department of Veterans Affairs when he crossed a yellow tape boundary and was asked to stop. Leao, who gained his US citizenship through military service, said he was treated "very fairly." "They're just doing their job," said Leao, who is of Angolan and Portuguese descent. The 200 Marines and more than 2,000 National Guard now deployed to Los Angeles are tasked with protecting federal property and federal personnel. They will be joined by an additional 500 Marines and 2,000 more National Guard soldiers. This means that they will accompany ICE agents on raids, officials have said. Ensuring our Marines are ready to serve! 2nd Bn, 7th Marines supports #LosAngeles under @USArmyNorth's #TaskForce51, prioritizing rest & recovery for maximum operational effectiveness. Stay informed — U.S. Northern Command (@USNorthernCmd) June 13, 2025 The troops are authorized to detain people who pose a threat to federal personnel or property, but only until police can arrest them. Military officials are not allowed to carry out arrests themselves. The Posse Comitatus Act generally forbids the US military, including the National Guard, from taking part in civilian law enforcement. Trump could take a more far-reaching step by invoking the Insurrection Act, which would allow troops to directly participate in civilian law enforcement. Read: US Marines deployed to LA US Marines were deployed to Los Angeles on June 13, the military said, in a rare domestic use of its forces after days of protests over immigration raids and as nationwide demonstrations were expected on Saturday, in the biggest backlash since President Donald Trump returned to power. About 200 Marines will protect a federal building in Los Angeles, Army Major General Scott Sherman said on Friday. The administration has authorized a total of 700 Marines to be deployed in the city. Neither the Marines nor National Guard troops in the city have temporarily detained anyone, he added. "I would like to emphasize that the soldiers will not participate in law enforcement activities," he said during a briefing. US Marines made the first known detention of a civilian during their Los Angeles deployment. Reuters images showed Marines apprehending a civilian, restraining him and then handing him over to civilians from the Department of Homeland Security — Reuters (@Reuters) June 14, 2025 It is uncommon for active-duty troops to be used domestically during civil disturbances. The last time the military was used for direct police action was in 1992, when the California governor at the time asked then President George HW Bush to invoke the Insurrection Act to help respond to Los Angeles riots over the acquittal of police officers who beat Black motorist Rodney King. The US military confirmed Marines in Los Angeles have detained a civilian for the first time, after being shown this photo by Reuters. Earlier, two defense officials said Marines are authorized to TEMPORARILY detain people if 'threatened' or 'harassed.' This was outside the… — Carl Nasman (@CarlNasman) June 13, 2025 A court decided on Thursday that Trump can keep his deployment of National Guard troops in Los Angeles for now.
Express Tribune
13-06-2025
- Politics
- Express Tribune
Israel attacks Iran's nuclear facilities, factories
Firefighters work at the scene of a damaged building in the aftermath of Israeli strikes, in Tehran, Iran, June 13, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Photo:REUTER Listen to article Israel said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders on Friday at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. Iranian media and witnesses reported explosions including at the country's main uranium enrichment facility at Natanz, while Israel declared a state of emergency in anticipation of retaliatory missile and drone strikes. Chief Commander of the Islamic Revolution Guards Corps (IRGC) Major General Hossein Salami was assassinated in the attack, IRNA reported. The unit's headquarters in Tehran had been hit. Several children had been killed in a strike on a residential area in the capital, said state media "We are at a decisive moment in Israel's history," Israeli Prime Minister Benjamin Netanyahu said in a recorded video message. "Moments ago Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival. This operation will continue for as many days as it takes to remove this threat." Iran's Supreme Leader Ayatollah Ali Khamenei said in a statement that Israel had "unleashed its wicked and bloody" hand in a crime against Iran and that it would receive "a bitter fate for itself". An Israeli military official said Israel was striking "dozens" of nuclear and military targets including the facility at Natanz in central Iran. The official said Iran had enough material to make 15 nuclear bombs within days. The United States said it had no part in the operation, which raises the risk of a fresh escalation in tensions in the Middle East, a major oil producing region. Alongside extensive air strikes, Israel's Mossad spy agency led a series of covert sabotage operations inside Iran, Axios reported, citing a senior Israeli official. These operations were aimed at damaging Iran's strategic missile sites and its air defence capabilities. Iranian state media reported that at least two nuclear scientists, Fereydoun Abbasi and Mohammad Mehdi Tehranchi were killed in Israeli strikes in Tehran. Tel Aviv's Ben Gurion Airport was closed until further notice, and Israel's air defence units stood at high alert for possible retaliatory strikes from Iran. "Following the pre-emptive strike by the State of Israel against Iran, a missile and UAV (drone) attack against the State of Israel and its civilian population is expected in the immediate time frame," Defence Minister Israel Katz said in a statement. Israeli military Chief of Staff Eyal Zamir said tens of thousands of soldiers had been called up and "prepared across all borders". "We are amidst a historic campaign unlike any other. This is a critical operation to prevent an existential threat, by an enemy who is intent on destroying us," he said. Israeli military Chief of Staff Eyal Zamir said tens of thousands of soldiers had been called up and "prepared across all borders". "We are amidst a historic campaign unlike any other. This is a critical operation to prevent an existential threat, by an enemy who is intent on destroying us," he said. Israeli Minister Gideon Saar was holding "marathon of calls" with counterparts around the world regarding Israel's attack on Iran, the foreign ministry said in a statement. US not involved US President Donald Trump would convene a meeting of the National Security Council on Friday morning, the White House said. Statement from Secretary of State Marco Rubio 'Tonight, Israel took unilateral action against Iran. We are not involved in strikes against Iran and our top priority is protecting American forces in the region. Israel advised us that they believe this action was necessary for its… — The White House (@WhiteHouse) June 13, 2025 Iran's armed forces spokesperson said Israel and its chief ally the United States would pay a "heavy price" for the attack, accusing Washington of providing support for the operation. An Israeli official told Israel public broadcaster Kan that Israel had coordinated with Washington on the strikes. US Secretary of State Marco Rubio however said the United States was not involved and Tel Aviv had acted unilaterally for self-defence. "We are not involved in strikes against Iran and our top priority is protecting American forces in the region," Rubio said in a statement. "Let me be clear: Iran should not target U.S. interests or personnel," he added. The State Department issued an advisory saying that all US government employees in Israel and their family members should "shelter in place until further notice". The attacks triggered sharp falls in stock prices in early Asian trade on Friday, led by a selloff in US futures, while oil prices jumped as investors scurried to safe havens such as gold and the Swiss franc. Nuclear talks deadlocked US and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment program in Oman on Sunday, according to officials from both countries and their Omani mediators. But the talks have appeared to be deadlocked. Trump said on Thursday an Israeli strike on Iran "could very well happen" but reiterated his hopes for a peaceful resolution. A source familiar with US intelligence reports said there has been no recent change in the U.S. intelligence assessment that Iran is not building a nuclear weapon and that Khamenei has not authorised the restarting of the nuclear weapons program that was shuttered in 2003. Even so, US intelligence had indicated that Israel was preparing a strike against Iran's nuclear facilities. The US military was planning for the full range of contingencies in the Middle East, including the possibility that it might have to help evacuate American civilians, a US official told Reuters, speaking on condition of anonymity.
