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India Detains Three Sanctioned Tankers Linked to Iran

India has detained three oil tankers tied to Iran and already under U.S. sanctions, marking a notable escalation in its maritime enforcement efforts. The vessels were intercepted in Indian waters earlier this month after authorities identified irregularities in their operations and documentation. Officials familiar with the situation say the tankers were suspected of participating in ship‑to‑ship transfers designed to obscure the origin of their cargo. Such practices have drawn increasing scrutiny as India strengthens monitoring of its coastal zones and aligns more closely with global efforts to curb sanctions evasion. The detentions also come at a moment of deepening strategic cooperation between New Delhi and Washington. While India maintains an independent foreign policy, the move signals a firmer stance on illicit maritime activity and a willingness to enforce international compliance standards within its jurisdiction.

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US Futures Recover as Tech Sector Leads the Way

 

US stock futures are pointing to a rebound from recent losses, with investors looking to fresh quarterly earnings for inspiration amid dwindling hopes for an early 2024 interest rate cut. S&P 500 futures added around 0.4%, while those on the tech-heavy Nasdaq 100 jumped 0.7%. Dow Jones Industrial Average futures hugged the flatline. 

Techs are in the vanguard after a bullish AI-fueled revenue outlook from TSMC, a key supplier to Apple and Nvidia. The Taiwanese contract chipmaker’s profit fell but beat Wall Street estimates. Shares of AMD and other chipmakers stepped higher in premarket as TSMC put on almost 7%. 

Stocks are still struggling to get off the ground this year as central bankers’ comments and mixed economic data put investors’ faith in a Federal Reserve pivot to the test. The odds of a rate cut in March as seen by traders have dropped 10 percentage points from a week ago, per the CME FedWatch Tool (Chicago Mercantile Exchange Group).

Investors are on the lookout for fresh data to feed their expectations, so Thursday’s release of readings on weekly jobless claims will be in focus. Housing starts and building permits for December are also on the docket. Eyes will also be on Atlanta Fed President Raphael Bostic, scheduled to appear twice today and closely watched for any deviation from his colleagues’ pushback on rate-cut bets.


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