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Escalation in Gaza: Israeli Airstrikes Result in Civilian Casualties

In a tragic escalation of violence, at least 18 Palestinians were killed in Israeli airstrikes in Gaza on Saturday, according to Palestinian medics. The strikes targeted various locations, including a former shelter housing displaced people and an aid warehouse, which the Israeli military claimed were being used by militants.  The airstrikes have intensified the already dire humanitarian situation in Gaza, with casualties being transported to hospitals by foot, on rickshaws, and in private cars. The conflict, which began on October 7, 2023, has resulted in significant loss of life and widespread displacement. Efforts by international mediators to broker a ceasefire continue, but the situation remains volatile.  The international community has called for restraint and the protection of civilians, emphasizing the need for a peaceful resolution to the conflict. 
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US Stock Futures Rise Despite Hot Inflation Print

 

Despite a hotter-than-expected wholesale inflation print, US stock futures climbed on Thursday, signaling a potential bid ahead for the market. Here are the key points:

  1. Inflation Data: February’s producer price index rose 0.6%, surpassing the expected increase of 0.3%. Investors closely watched whether inflation is cooling fast enough to satisfy Fed policymakers and signal potential interest-rate cuts.

  2. Market Resilience: The market shrugged off signs of sticky inflation in Tuesday’s CPI report and maintained hopes for a policy pivot in the summer. Investors seem confident that the Federal Reserve will continue to support the economy.

  3. Retail Sales: Retail sales increased 0.6%, falling short of estimates for a rise of 0.8%. This data release provided clues about the health of the US economy ahead of the central bank’s two-day meeting next week.

  4. Commodities: Oil prices continued their rally after the International Energy Agency (IEA) warned of supply shortages this year. WTI crude futures traded just above $80 per barrel, touching their highest levels since November.

  5. Corporate News: Fisker’s shares plunged almost 40% in premarket trading after a Wall Street Journal report revealed that the electric vehicle maker is exploring a bankruptcy filing.

Despite inflation concerns, the market remains resilient, and investors eagerly await the Federal Reserve’s next moves. Stay tuned for further developments as the economic landscape evolves.

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