Author: Jack Mulligan
Equities Rally as Economic Optimism Grows Global equities rose on Friday, with Wall Street and European markets posting strong weekly gains, as upbeat economic data and corporate earnings boosted investor confidence ahead of the U.S. presidential inauguration. The MSCI global stock index climbed 0.81%, while Wall Street’s major indexes extended gains: Phil Orlando, Chief Equity Strategist at Federated Hermes, commented:“There’s an expectation that the economy is not as weak, and inflation is not as big a problem as previously thought.” Economic Data Boosts Confidence Encouraging economic reports fueled optimism: “Given the oversold nature of the market, we’ve enjoyed a nice…
Stocks and Bonds Rally on Lower Core Inflation A moderate U.S. inflation report triggered a sharp relief rally in both stocks and bonds on Wednesday, as investors welcomed signs of easing price pressures. The consumer price index (CPI) for December rose at a faster-than-expected pace, but markets focused on the core CPI—which excludes volatile food and energy prices—rising just 0.2%, compared to 0.3% in the previous four months. The S&P 500 surged 1.8%, while the 10-year U.S. Treasury yield reversed earlier losses and dropped to 4.66%, as bond prices rose. “This reading beat expectations modestly, but traders pounce aggressively on…
First Step: Initial Ceasefire and Hostage Release Israel and Hamas have agreed to a phased ceasefire, signaling a potential end to the 15-month war in Gaza that has caused immense devastation. The agreement’s first phase, lasting six weeks, includes the release of 33 Israeli hostages, prioritizing women, children, and elderly individuals, in exchange for hundreds of Palestinian prisoners held by Israel. This phase also ensures a temporary cessation of violence and the influx of much-needed humanitarian aid into Gaza. Hamas has confirmed its approval of the deal, while Israeli Prime Minister Benjamin Netanyahu expressed optimism despite unresolved details. “Several items…
OpenAI’s New Feature: Tasks OpenAI, the leading name in generative artificial intelligence, announced on Tuesday the launch of a beta feature called Tasks for ChatGPT, marking its entry into the competitive virtual assistant market. This move positions OpenAI alongside established players like Apple’s Siri and Amazon’s Alexa. The Tasks feature will allow ChatGPT users to: Generative AI’s Competitive Landscape The release of ChatGPT in late 2022 sparked a surge in investment in AI technology. This trend has driven competitors like Amazon and Apple to enhance their own offerings: Rollout and Availability OpenAI said it will roll out the Tasks beta…
Japan’s 40-Year Bond Yield Hits Record High Amid Rate Hike Speculation Japan’s 40-year government bond yield climbed to an all-time high on Tuesday, reaching 2.755%, as global debt markets faced a selloff and speculation grew about an upcoming interest rate hike by the Bank of Japan (BOJ). This marks the highest yield for the 40-year bond since its introduction in 2007. The 20-year bond yield also surged to its highest level since May 2011 following Japan’s return from a public holiday. Global pressures driving yield increases The surge in Japanese bond yields is part of a broader global trend. Concerns…
Biden Reflects on Foreign Policy Legacy as Trump Prepares to Take Office President Joe Biden delivered a farewell speech on Monday, highlighting his administration’s foreign policy achievements. He argued that under his leadership, the U.S. has become safer and more economically secure. As President-elect Donald Trump prepares to assume office, Biden emphasized the stability and strength he is leaving behind for the next administration. Strengthening alliances and advancing global security Biden underscored efforts to expand NATO, rally international support for Ukraine in its fight against Russia, and strengthen U.S. competitiveness in advanced chip manufacturing to counter China. “America is stronger.…
Billionaire Kiki Barki Bets Big on Nickel as Industry Faces New Challenges The nickel industry is undergoing significant transformations, attracting major players like billionaire Kiki Barki, who built his fortune in coal mining. Now steering his company Harum Energy toward nickel, Barki is making bold moves to capitalize on the metal’s potential, despite nickel prices ending 2024 below their 2023 close. Harum Energy’s strategic investments Harum Energy accelerated its nickel expansion in 2024 through a series of high-profile deals: These strategic plays underscore Harum’s commitment to positioning itself as a major player in the global nickel market. Nickel and the…
Devastation in Southeastern Ukraine A Russian guided bomb attack on Wednesday struck the southeastern Ukrainian city of Zaporizhzhia, killing at least 13 people and injuring 113, according to Ukrainian authorities. The explosion left bodies strewn across roads, damaged public transport, and caused severe destruction to residential and industrial areas. Rising Injury Toll and Aftermath Prosecutors updated the injury count from 63 to 113 on Thursday morning, after rescue operations concluded late Wednesday. According to regional governor Ivan Fedorov, two guided bombs were used to target a residential area. Medical Services Overwhelmed Fedorov described the attack as the largest surge in…
Relocation of Survivors Underway Relief teams in western China shifted focus on Wednesday to resettling survivors after a powerful earthquake struck near Shigatse, Tibet, a day earlier. More than 46,000 people have been relocated following the disaster, which left 126 dead and 188 injured. Survivors are receiving essential supplies, including tents, quilts, and stoves, to cope with the region’s harsh climate. Tibetan Vigils Held in India and Nepal Tibetan communities in India and Nepal held vigils for victims of the earthquake. In Dharamshala, India, about 200 Tibetans lit candles, marched, and chanted prayers in solidarity with the victims. The city…
Michael Barr Steps Down from Regulatory Oversight Role Federal Reserve Vice Chair of Supervision Michael Barr announced on Monday that he will resign from his regulatory oversight position on February 28, 2025, while remaining on the Fed’s Board of Governors until January 2032. This decision sets the stage for how President-elect Donald Trump will shape the U.S. central bank during his second term. Implications for Trump’s Administration Barr’s resignation allows Trump the opportunity to elevate a current Fed board member to oversee banking regulation. Analysts predict this move aligns with Trump’s preference for a lighter regulatory touch, avoiding a potential…