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Strategic Alliances in a Shifting Global Landscape

In a world marked by geopolitical tensions and shifting alliances, Russian President Vladimir Putin and Chinese President Xi Jinping have positioned themselves as defenders of a new world order. Their recent meeting in Moscow, coinciding with the 80th anniversary of the end of World War II, underscored their commitment to countering Western influence and promoting a multipolar global system. During the talks, Putin and Xi emphasized their shared vision of international stability, rejecting what they described as "unilateralism and bullying"—a veiled reference to the United States. Xi reaffirmed China's support for Russia, highlighting their strategic partnership and mutual interests in shaping global governance. The leaders also pledged to safeguard the authority of the United Nations and advocate for the rights of developing nations. This alliance comes at a critical time, as both nations face economic and political challenges. Russia continues to navigate Western sancti...
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Stock Market Today: S&P 500 Set to Build on Record High with Powell on Deck

                                        

US stocks are poised to continue their record-setting climb today as investors eagerly await Federal Reserve Chair Jerome Powell’s remarks. Here are the key points:

  1. Market Outlook:

    • The S&P 500 futures edged up 0.2%, while the tech-heavy Nasdaq 100 led the way higher with a 0.4% gain.
    • Signs of a US economic slowdown have bolstered bets on interest-rate cuts, driving fresh all-time highs for stocks.
    • Powell’s twice-yearly policy update to Congress begins today, followed by testimony to the House tomorrow. These updates may serve as catalysts for stocks if they confirm a cooling economy.

  2. Cautionary Notes:

    • Some analysts warn of a potential summer pullback, with Morgan Stanley strategist Mike Wilson calling for a 10% correction.
    • Wall Street is cautious about this earnings season due to high expectations.
    • Investors are questioning the huge inflows into AI-linked stocks, given the tech’s unproven impact.

  3. Corporate News:

    • BP’s US-listed shares fell over 4% in pre-market trading due to a refining slump and factory-linked writedown.
    • Novo Nordisk stock slipped after Wegovy lost out to Eli Lilly’s Mounjaro in an analysis of rival weight-loss drugs.

  4. Interesting Tidbit:

    • Chipotle (CMG) remains popular, especially among lower-income households, despite TikTok posts suggesting portion size reductions.

Remember to stay informed and keep an eye on Powell’s updates! 

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