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Germany Braces for Major Local Transport Shutdown

  150 bus, tram and local train companies with around 100,000 employees are affected by the strike. Germany is set to experience widespread disruption as the Verdi public sector union has called for a nationwide strike across local transport networks on February 27 and 28 . The walkout aims to increase pressure in ongoing negotiations over wages and working conditions for public transport employees.  The strike will affect around 100,000 workers across bus, tram, and local train services, impacting major cities including Berlin and Hamburg. Negotiations have shown little progress, prompting Verdi to escalate its actions. Union representatives argue that without significant improvements, the long-term stability of public transport services cannot be guaranteed.  With services expected to grind to a halt in many regions, commuters should prepare for delays and seek alternative travel options during the two-day strike. 
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Stock Market Today: S&P 500 Breaches 5,300 as Stocks Rally to Records After CPI

 


U.S. stocks rallied on Wednesday, with all three major indexes closing at record highs. A soft reading on consumer prices fueled hopes that the Federal Reserve could cut interest rates sooner than expected.
  • The S&P 500 rose nearly 1.2%, closing at 5,308.18, above 5,300 for the first time ever.
  • The Dow Jones Industrial Average jumped about 0.9%, creeping closer toward the 40,000 level.
  • The tech-heavy Nasdaq Composite climbed about 1.4%, notching its second record close in as many days.

The Consumer Price Index rose 0.3% over the previous month and 3.4% over the prior year in April, a deceleration from March. “Core” inflation, which strips out the cost of food and gas, also cooled. This relatively cool inflation reading led the 10-year Treasury yield to fall 4.35%, its lowest level in a month, and sparked new bets on Fed rate cuts as soon as September. Around 70% of traders now expect at least one cut by the September meeting, a notable increase from a week ago.

Stocks have ground higher amid rekindled confidence that the U.S. economy is in good enough shape for the Federal Reserve to start bringing down rates from their current historic highs. That optimism has fueled a resurgence in bullishness in the market.

Elsewhere on the macroeconomic front, retail sales fell flat last month, coming in well short of Wall Street’s expectations.

In summary, the stock market continues to surge, and investors are closely watching inflation data and Fed policy decisions.


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