Market news
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Fear & Greed Index Drops to 24.8, Signaling Extreme Fear
The Fear & Greed Index has fallen to 24.8, its lowest since early April, breaching the 30-point threshold to indicate 'Extreme Fear' among investors. This occurs even as the S&P 500 sits just 3.7% below its all-time high.
Japan's Nikkei Falls 1.1% on Cautious Sentiment
Japan's Nikkei share average dropped 1.1% to 68,623.71 as investors remained cautious amid global uncertainty and weaker regional cues.
UK's Burnham to unveil plan to shift power from London
Andy Burnham, the former Greater Manchester mayor and Labour lawmaker, will outline his vision for the UK on Monday, aiming to decentralize power away from London.
Australia's ACCC Warns Fuel Excise Reduction to Push Petrol Prices Higher from July
The Australian Competition and Consumer Commission (ACCC) warns that the partial restoration of the fuel excise could raise retail petrol and diesel prices from July. The excise discount will be halved to 16 cents per litre between July 1 and August 2.
Asia-Pacific Equities Mixed on Month-End Rebalancing, US-Iran Ceasefire Hopes
Asia-Pacific stocks traded mixed as month-end portfolio rebalancing and reports of a potential US-Iran ceasefire influenced sentiment, though caution persisted ahead of clearer economic signals.
WTI Falls Below $70 on US-Iran Talks and Strike Pause
WTI crude oil dropped below $70 during early Asian trading after reports that the US and Iran agreed to pause attacks and will hold talks in Qatar.
RBA's Kent Signals More Decisive Response to Disinflation, Eyes Earlier Policy Easing
RBA official Kent indicated the central bank would respond more aggressively to future disinflation, potentially using policy tools earlier and front-loading support, with less tolerance for inflation below target.
Oil Rises as US and Iran Agree to Halt Strikes, Resume Talks in Doha
Oil prices climbed after reports that the US and Iran agreed to suspend military strikes and restart negotiations in Doha, temporarily easing supply disruption fears.
Oil Slips as Middle East Tensions Ease, Focus Turns to Economy
Oil prices have fallen from recent highs as fears of a wider Middle East war subside, prompting investors to shift attention back to global economic data, technology stocks, corporate earnings, and interest rate expectations.
US Stock Futures Rise on US-Iran Peace Talks, AI Optimism
US stock futures rose after reports the US and Iran agreed to halt strikes and resume peace talks in Qatar. Hopes for a lasting ceasefire and AI optimism have global stocks on track for their best quarter since 2020.
US Equities Pull Back, Oil Slides as Fed Remains Hawkish
Major US equity indices fell last week, with the Nasdaq 100 dropping 4.2% and the S&P 500 down 2%, while oil prices slid. The decline is seen as a healthy correction within an otherwise trending market.
UK to Replace Destroyer and Frigate Plans with Hybrid Drone-Capable Warships
The UK is set to replace plans for Type 83 destroyers and Type 32 frigates with at least six hybrid common combat vessels designed to deploy aerial and underwater drones, reflecting a shift toward autonomous warfare. The new ships are expected to enter service in the early 2030s.
Iran State TV Details Strait of Hormuz Transit Rules Vessels Must Coordinate with Revolutionary Guards
Iran's state television stated that passage through the Strait of Hormuz still requires coordination with the Revolutionary Guards, and specified the safest transit routes for vessels entering and leaving the Gulf.
Iran: Israel's Lebanon Withdrawal Mandated by Interim US Accord
Iran's foreign minister stated that Israel's withdrawal from Lebanon and cessation of strikes are mandated by an interim agreement with the US. Tehran also welcomes a Gulf security framework with Arab nations and pledges to expand ties with Iraq's new administration.
Iran Says It Alone Is Responsible for Restoring Strait of Hormuz Shipping
Iran's foreign minister stated that Tehran is solely responsible for reinstating Strait of Hormuz maritime traffic to pre-war levels, warning that any external party's involvement would complicate the normalization of Gulf shipping.
US Consumer Credit Surges $25B to Record $5.14 Trillion in March
Total US consumer credit rose $25 billion in March to a record $5.14 trillion, driven by a $10 billion jump in revolving credit (credit cards) and a $15 billion increase in non-revolving credit, according to The Kobeissi Letter.
Israel Destroys Hezbollah Underground Infrastructure in Southern Lebanon
The Israeli military announced it has destroyed Hezbollah's underground infrastructure in a southern Lebanese village. Israel also informed the U.S. ahead of the strike, according to the Prime Minister's Office.
Putin Says Russia Agreed to Concessions Proposed by US Negotiators
Russian President Vladimir Putin stated that Moscow consented to concessions formulated by U.S. negotiators, which were presented as compromises by the American side.
Putin Says Russia Agreed to Concessions Proposed by US Negotiators
Russian President Vladimir Putin stated that the compromises in question were exactly those proposed by the American side, and that Russia consented to those concessions as requested.
Putin: No Formal Agreements on 'Spirit of Anchorage' for Ukraine Conflict
Russian President Vladimir Putin stated that the 'Spirit of Anchorage' was never formalized in official documents, and no agreements were signed, though possibilities for resolving the conflict in Ukraine were discussed along with potential compromises.
Trump Announces September 1 Start for New East Potomac Golf Course
Former President Donald Trump announced that construction of a new East Potomac golf course will begin on September 1, designed by architect Tom Fazio and built through the Department of the Interior to high golf standards.
Trump Announces Rebuilding of East Potomac Golf Course as World-Class Public Facility
Donald Trump declared the East Potomac Golf Links dilapidated and dangerous, announcing plans to rebuild it as a world-class public course capable of hosting major tournaments.
Qatari National Killed, Vessel Vanished Amid Military Operations
A Qatari national was killed and another wounded after a vessel went missing during military operations and was discovered on Sunday. Authorities remain silent on any connection to recent Iranian drone attacks in Kuwait and Bahrain.
Putin: Russia Still Faces Fuel Shortages, Diesel Export Ban Under Consideration
President Putin says Russia still faces fuel shortages with queues at gas stations, and a diesel export ban is under consideration to stabilize domestic supplies.