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Wall Street Pauses as Oil Surges and Tesla Stumbles

  U.S. stocks stalled on Thursday as investors weighed a sharp rise in oil prices against a wave of fresh corporate earnings. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered near the flat line, while the Nasdaq 100 also showed little movement. Energy markets took center stage after oil futures jumped more than 5% following new U.S. sanctions on Russian producers, pushing Brent crude toward $66 a barrel and West Texas Intermediate closer to $62. The surge added pressure to inflation concerns already weighing on Wall Street. On the corporate front, Tesla shares slipped over 3% in premarket trading after the electric vehicle maker posted mixed third-quarter results, disappointing investors and kicking off the “Magnificent Seven” earnings cycle. IBM stock also dropped about 7% , as stronger-than-expected profits were overshadowed by weaker software revenue. Traders are now awaiting results from American Airlines and T-Mobile , with Intel set to ...
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Yemen’s Houthi rebels suspected of attacking ship in Gulf of Aden

 

A ship sailing in the Gulf of Aden was hit by a missile on Monday, less than a day after Yemen’s Houthi rebels fired an anti-ship cruise missile toward an American destroyer in the Red Sea, officials said.

The attack on the ship, which occurred about 110 miles southeast of Aden, was reported by the United Kingdom Maritime Trade Operations, which oversees Mideast waters. The ship’s captain said the missile struck the port side of the vessel from above, but did not provide any further details.

The identity of the ship and its crew was not immediately disclosed, nor was the extent of the damage or any casualties.

The Houthi rebels, who are backed by Iran and control Yemen’s capital, have not claimed responsibility for the attack, but they have previously targeted shipping in the Gulf of Aden and the Red Sea amid Israel’s war with Hamas in the Gaza Strip.

The Houthis have said they are defending themselves against the Saudi-led coalition that has been bombing them since 2015, after they ousted the internationally recognized government of Yemen.

The U.S. and its allies have accused the Houthis of disrupting the free flow of international commerce and threatening regional stability. President Joe Biden has warned that he will not hesitate to take further measures to protect U.S. interests and allies in the area.

The attack on the ship came as the U.N. Security Council was meeting to discuss the situation in Yemen and the humanitarian crisis caused by the war, which has killed over 100,000 people and pushed millions to the brink of famine.



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