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Wall Street Steadies as Trump Softens China Rhetoric, Banks Rebound

U.S. stocks swung between losses and gains on Friday before finding some footing, as President Donald Trump dialed back threats of steep new tariffs on Chinese imports. His remarks helped ease investor concerns over an escalating trade conflict that had rattled markets earlier in the week. The Dow Jones Industrial Average edged higher, while the S&P 500 hovered near the flatline. The Nasdaq Composite pared earlier declines, supported by a rebound in technology shares. Futures trading showed modest gains for the Dow and S&P 500, while Nasdaq contracts remained slightly negative. Regional bank stocks, which had been under pressure amid worries about loan quality and credit risks, also staged a recovery. Analysts noted that while investor sentiment remains fragile, Trump’s comments signaled a willingness to avoid measures that could further destabilize the global economy. Market watchers say volatility is likely to persist as Wall Street weighs trade policy uncertainty agai...
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Palestinian Prime Minister Shtayyeh Resigns: A Pivotal Moment for Palestinian Politics

 

In a significant development, Palestinian Prime Minister Mohammad Shtayyeh has submitted his resignation to Palestinian President Mahmoud Abbas. The move comes as the Palestinian Authority grapples with the aftermath of Israel’s war against the Islamist group Hamas in Gaza.

Shtayyeh, an academic economist who assumed office in 2019, cited the need for a broad consensus among Palestinians regarding political arrangements. The recent conflict in Gaza has underscored the urgency for reform and unity within the Palestinian leadership. Here are the key points:

  1. Context: The Palestinian Authority, established three decades ago under the interim Oslo peace accords, currently exercises limited governance over parts of the occupied West Bank. However, it lost control of Gaza in 2007 following a power struggle with Hamas.

  2. Emerging Reality in Gaza: Gaza has endured nearly five months of heavy fighting, leaving the region devastated. Shtayyeh emphasized that the next stage requires new governmental and political arrangements that account for this emerging reality in the Gaza Strip.

  3. National Unity Talks: Fatah, the faction controlling the Palestinian Authority, and Hamas have been engaged in efforts to reach an agreement over a unity government. A meeting in Moscow is scheduled for Wednesday to discuss governance for the Palestinians.

  4. U.S. Pressure and International Efforts: The resignation coincides with growing U.S. pressure on President Abbas to revitalize the Palestinian Authority. International efforts are underway to halt the fighting in Gaza and establish a stable political structure for the enclave.

While Shtayyeh’s resignation awaits acceptance by President Abbas, it marks a pivotal moment in Palestinian politics. As the nation grapples with challenges, the door to reforms swings open, inviting hope and uncertainty alike.


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