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Gaza Truce and Hostage Deal Faces Last-Minute Crisis

  In a dramatic turn of events, Israeli Prime Minister Benjamin Netanyahu announced that a last-minute crisis with Hamas is delaying the approval of a highly anticipated ceasefire and hostage release agreement. The deal, which was set to be approved by the Israeli Cabinet, has been put on hold as Netanyahu accused Hamas of reneging on parts of the agreement in an attempt to gain further concessions. The ceasefire, brokered by U.S. President Joe Biden and key mediator Qatar, was expected to bring a temporary halt to the 15-month conflict in the Gaza Strip and facilitate the release of dozens of hostages held by Hamas. However, Netanyahu's office stated that the Cabinet would not convene to approve the agreement until Hamas backs down from its new demands. Hamas, on the other hand, has denied the allegations, with senior official Izzat al-Rishq asserting that the militant group remains committed to the ceasefire agreement. The delay has raised concerns about the implementation of the...
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Markets decline as Fed minutes fail to boost confidence



The stock markets in the U.S. and Canada started the new year with two consecutive sessions of losses, as investors remained cautious about the Federal Reserve’s plans to cut interest rates this year.

The Fed minutes from its December meeting, released on Wednesday, showed that policymakers were increasingly convinced that inflation was under control and that overly restrictive monetary policy could harm the economy. However, the minutes did not provide much clarity on when and how much the Fed would lower rates, disappointing some traders who had hoped for more guidance.

The S&P 500 index fell 0.8%, while the Nasdaq Composite dropped 1.18% and the Dow Jones Industrial Average slid 0.76%. The TSX composite index also ended down 0.3%, extending its pullback from a 19-month high.

Among the sectors, energy was the only bright spot, as oil prices rose sharply due to a disruption at Libya’s top oilfield. Suncor Energy was the top performer on the TSX, gaining 5.9%. On the other hand, materials, consumer discretionary and financials dragged the markets lower, as a stronger U.S. dollar weighed on gold and copper prices and rate-sensitive stocks.

Airline stocks also suffered, as higher oil prices raised concerns about fuel costs. The S&P 1500 passenger airlines index plunged 4%.

Some individual stocks also made headlines, such as First Quantum Minerals, which surged 11% after a report that Barrick Gold was exploring a possible bid for the company. Barrick’s shares, however, fell 2.9%. Citigroup also continued its rally, rising 1.1% to its highest level since mid-August 2022, after a positive analyst report from Wells Fargo.

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