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NATO Tensions Spike as Trump Blasts Allies Over Iran Conflict

The US president complained NATO countries did not want to join the fight against Iran, yet still complain about high oil prices. U.S. President Donald Trump sharply criticized NATO allies on Friday, accusing them of failing to support the U.S.-Israel military campaign against Iran and branding the alliance “cowards. Rising Friction Within the Alliance Speaking from the Oval Office, Trump argued that NATO partners were unwilling to contribute meaningfully to the conflict, despite benefiting from U.S. security guarantees. He declared on social media that “without the U.S.A., NATO IS A PAPER TIGER,” warning that Washington would “remember” the lack of support.  Strategic Stakes The criticism comes as tensions escalate across the Middle East, with the U.S. and Israel engaged in active military operations against Iran. Trump has repeatedly urged NATO members to take a more assertive role, particularly in securing strategic waterways such as the Strait of Hormuz.  Broader Hum...
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Mixed Bank Earnings Offset Cooler-Than-Expected Inflation News

 


On Friday, January 12th, 2024, the US stock market closed with little change as mixed bank earnings offset cooler-than-expected inflation news that buoyed hopes for interest-rate cuts from the Federal Reserve. The Dow Jones Industrial Average fell 118.04 points, or 0.31%, to 37,592.98. The S&P 500 gained 3.59 points, or 0.08 %, at 4,783.83 and the Nasdaq Composite rose 2.58 points, or 0.02%, to 14,972.76.

Bank of America’s fourth-quarter profit shrank as the lender took $3.7 billion in one-off charges. Wells Fargo’s warning of a 7% to 9% drop in net interest income in 2024 sent the bank’s shares down 3.34%. UnitedHealth fell on higher-than-expected medical costs. Tesla fell after flagging output hit from Red Sea disruption.

The data showed U.S. producer prices unexpectedly fell in December as the cost of goods such as food and diesel fuel declined, while prices for services were unchanged for a third consecutive month, in contrast to Thursday’s hotter-than-expected consumer inflation reading. Expectations for a rate cut of at least 25 basis points by the Fed in March moved up to 79.5%, according to CME’s FedWatch Tool, from 73.2% in the prior session.


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