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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...
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Stocks set for a rebound after the Fed’s announcement, with Big Tech earnings in focus

 


US stock futures signaled a rebound on Thursday after the worst sell-off in months on Wall Street, as investors recalibrated their timeline for rate cuts from the Federal Reserve and prepared for a heavy-hitting round of megacap tech earnings. Futures tied to the benchmark S&P 500 rose 0.3%, while those on the blue-chip Dow Jones Industrial Average hovered above the flatline. The tech-heavy Nasdaq Composite, which suffered a more than 2% decline Wednesday, pointed up by about 0.5%.

The Federal Reserve’s announcement on Wednesday that it would not cut rates at the next meeting in March, as previously expected, was a wake-up call for investors looking for quick interest rate cuts. Instead, the bank is expected to cut rates in May. The Fed’s pivot in the central bank’s rate plans has led to a recalibration of investor expectations, which has helped to stabilize the market.

After Microsoft and Alphabet failed to live up to investors’ lofty expectations, Apple, Amazon, and Meta will take center stage after the closing bell. The earnings reports of these tech giants are expected to be heavy-hitting, and investors are eagerly awaiting the results.

In conclusion, the stock market is set for a rebound after the Fed’s announcement, and investors are preparing for a heavy-hitting round of megacap tech earnings. The Federal Reserve’s pivot in the central bank’s rate plans has led to a recalibration of investor expectations, which has helped to stabilize the market. The earnings reports of Apple, Amazon, and Meta are expected to be heavy-hitting, and investors are eagerly awaiting the results.


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