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Gaza Crisis Deepens as Israeli Strikes Kill 60 Amid Aid Shortages

  Israeli airstrikes have killed at least 60 people across Gaza, intensifying the humanitarian crisis in the region. The strikes targeted residential areas, including a family home and a school-turned-shelter, leading to significant civilian casualties.  Despite mounting international pressure, Israel has allowed only minimal aid into Gaza, far below the necessary levels to address the growing humanitarian needs. UN agencies report that while some trucks carrying food and medical supplies have entered, the amount remains insufficient compared to the 600 trucks per day that were permitted during a previous ceasefire.  The ongoing conflict has displaced nearly 90% of Gaza’s population, with many facing dire shortages of food, medicine, and shelter. International leaders, including those from Canada, France, and the UK, have urged Israel to ease restrictions and allow more humanitarian assistance.  As the situation worsens, calls for a ceasefire and increased aid contin...
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Stock Market Today: Rising Treasury Yields Spook Investors

         

In today’s volatile stock market, rising Treasury yields have sent shockwaves through the financial world. As investors grapple with the implications of higher interest rates, major US indexes are facing a downward slide.

Key Points:

  • The S&P 500 (^GSPC) fell by 0.7%, while the Dow Jones Industrial Average (^DJI) drifted about 0.9% lower, shedding nearly 350 points.
  • The Nasdaq Composite (^IXIC) also slid more than 0.7%.
  • The yield on five-year Treasurys rose to near four-week highs on Tuesday, while the 10-year yield (^TNX) topped the key 4.5% level.
  • Investors are concerned that the Federal Reserve will keep rates higher for longer, impacting stock valuations.
  • These worries seem to overshadow the hopes for AI growth that recently lifted the Nasdaq to a record high following Nvidia’s post-earnings rally.

What’s Driving the Yields?

  • A government debt auction flopped, leading to a jump in US bond yields.
  • The release of the Fed’s Beige Book later today could provide more insight ahead of Friday’s reading on PCE, the central bank’s preferred inflation gauge.

American Airlines Slashes Earnings Outlook

  • American Airlines (AAL) stock plummeted more than 15% as the airline carrier cut its earnings per share guidance for the current quarter.
  • The company cited higher domestic competition and a loss of corporate share as reasons for the downward revision.
  • Despite robust demand in the airlines industry, American Airlines faces headwinds due to the spike in Treasury yields.

Market Outlook:

  • The rate-sensitive Nasdaq Composite ended the session down 1.6%, while the S&P 500 gave back 1.3%.
  • Yields on the 2-year and 10-year Treasury bonds hit their highest levels since 2006 and 2007, respectively.

Investors are closely monitoring the situation, trying to decipher the impact on Fed policy-making. As the market grapples with uncertainty, it’s clear that rising yields are a major concern. 

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