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Beirut Reels as Israeli Airstrikes Intensify Amid Expanding Regional Conflict

                                     Smoke rises after an Israeli strike in central Beirut's Bachoura neighbourhood Israeli warplanes struck central Beirut in the early hours of March 18, delivering some of the most intense bombardments the city center has seen in decades. The attacks destroyed residential buildings in densely populated neighborhoods such as Bashoura, Zuqaq al-Blat, and Basta, killing at least six to twelve people according to varying Lebanese authority reports.  The strikes come as the broader conflict widens following Hezbollah’s involvement earlier in the month and escalating tit-for-tat actions between Israel and Iran. Residents described fleeing in the middle of the night—some after receiving evacuation warnings, others with no warning at all—as explosions lit up the capital’s skyline.  Lebanese officials say the attacks targeted both residenti...
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Stocks close mixed as tech pares losses


On Tuesday, January 9, 2024, the US stock market closed with mixed results. The Dow Jones Industrial Average (^DJI) slipped 0.4% or about 150 points. The benchmark S&P 500 ( ^GSPC) fell by nearly 0.2%, while the tech-heavy Nasdaq Composite ( ^IXIC) crawled above the flatline, in a reversal of earlier losses. The tech rally wavered after a Samsung profit warning took the shine off the sector. Samsung’s update weighed on hopes for a rebound in the PC and mobile sector, a key market for its memory chips. The Korean company said it expects a 35% drop in fourth-quarter operating income, far short of estimates, as demand continues to lag.

Investors are focusing on the December consumer inflation reading due Thursday and what it could mean for the chances of easing interest rates. Two Federal Reserve officials on Monday poured cold water on Wall Street’s already fading expectations that a cut could come in the next few months. The idea that inflation is cooling underpins investors’ belief that the US economy will skirt recession. That conviction faces a crucial test on Friday, when big banks kick off the fourth-quarter earnings season.

Oil prices ( CL=F) ( BZ=F) rose just under 2%, recouping some of Monday’s near 4% fall as investors weighed the impact of tensions in the Middle East and Saudi Arabia’s decision to cut crude prices.


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