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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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US stock futures paused on Friday, catching their breath after the record-breaking rally fueled by AI chipmaker Nvidia’s blowout earnings. Investors are now contemplating what lies ahead.

Market Overview

  • S&P 500 ( ^GSPC) and Dow Jones Industrial Average ( ^DJI) futures hovered around the flatline, having closed at all-time highs on Thursday.
  • Nasdaq 100 ( ^NDX) futures remained subdued after the tech-heavy index surged 3% to achieve its own record.
  • The global breakout frenzy added a staggering $277 billion to Nvidia’s market value, marking the largest single-day gain in Wall Street history.

Nvidia’s Meteoric Rise

  • Nvidia’s shares continued their meteoric ascent in Friday’s premarket, rising approximately 2% and on track to surpass a $2 trillion valuation.
  • As the AI euphoria begins to wane, market attention is shifting back to the possibility of a US interest-rate cut.
  • Federal Reserve officials have hinted at rate cuts, although opinions differ on the timing of this shift.

Earnings Season Highlights

  • A robust fourth-quarter earnings season is winding down, with over one-third of reports surpassing estimates.
  • Fintech company Square (SQ) provided an upbeat earnings forecast, propelling its shares higher.
  • Used-car seller Carvana (CVNA) reported its first annual profit, boosting its stock price.

In summary, while the stock market takes a pause, investors remain vigilant for further developments. The AI-driven rally has left its mark, but uncertainties persist. As we navigate these dynamics, keep an eye on the Fed’s next moves and corporate earnings surprises.


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