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Canada and France Plan Diplomatic Presence in Greenland

                                                             View over the town of Maniitsoq, Greenland. Canada and France are each preparing to establish official diplomatic offices in Greenland, a move widely interpreted as a response to heightened tensions created by renewed U.S. interest in acquiring the island. France’s Plans France intends to open a consulate in Greenland. French officials describe this as a political signal supporting Denmark’s sovereignty over the territory. The decision follows strong public and governmental pushback in Greenland against any suggestion of U.S. control. Canada’s Plans Canada is moving forward with plans to open a consulate in Nuuk, Greenland’s capital. Canadian officials frame this as part of a broader Arctic strategy focused on diplomacy, security, and...
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Stocks Rise as Weak Economic Data Sink US Yields

                                        

Wall Street traders sent stocks higher and bond yields fell as a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year. In a shortened session ahead of the US holiday, the S&P 500 headed toward a fresh all-time high.

In summary:

  • The S&P 500 rose to around 5,520.
  • Tesla Inc. extended its rally into a seventh straight session.
  • Amazon.com Inc. fell.
  • Treasury 10-year yields fell seven basis points to 4.36%.
  • Swap traders project almost two rate cuts in 2024, with the first in November.
  • The dollar headed toward its biggest drop since mid-May.

Investors are closely watching Friday’s employment data for further insight into the state of the labor market. Economists anticipate a 190,000 gain in nonfarm payrolls, with the unemployment rate holding at 4%.


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