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Myanmar Earthquake: Death Toll Climbs to 3,145 Amid Ongoing Rescue Efforts

The devastating earthquake that struck Myanmar nearly a week ago has claimed at least 3,145 lives, with search and rescue teams continuing to recover bodies from the rubble. The 7.7 magnitude quake, which had its epicenter near Mandalay, Myanmar's second-largest city, caused widespread destruction, including collapsed buildings, damaged roads, and destroyed bridges.  Humanitarian aid groups are working tirelessly to provide survivors with medical care and shelter, as thousands remain homeless and vulnerable to disease outbreaks. The United Nations estimates that over 17 million people have been affected by the disaster, with more than 9 million severely impacted.  In response to the crisis, Myanmar's military government has declared a temporary ceasefire to facilitate relief efforts. However, ongoing challenges, including communication blackouts and difficult-to-reach areas, have hindered the full assessment of the disaster's impact.  The coming days will be critical in d...

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US Futures Rise as Dow Eyes Fresh Record Amid Bets on Trump

 

US stock futures climbed on Monday as investors weighed the market impact of a shooting attack on presidential candidate Donald Trump. The incident overshadowed the return of earnings season, but optimism remained high.

  • Dow Jones Industrial Average (YM=F) rose 0.5%: The blue-chip gauge ended last week just a few points away from an all-time high.
  • S&P 500 (ES=F) added 0.4%: Stocks poised to build on Friday’s gains as JPMorgan Chase and Wells Fargo ushered in earnings season.
  • Nasdaq 100 (NQ=F) gained 0.5%: Tech-heavy stocks also contributed to the rally.

Investors focused on the potential fallout from the assassination attempt on Trump at a rally on Saturday. Bets ramped up on a win in November’s presidential election for the Republican front-runner, seen as likely to cut taxes, raise trade tariffs, and ease up on regulation.

Other notable points:

  • 10-year Treasury yield (^TNX) rose over 2 basis points to trade around 4.21%.
  • 30-year yield (^TYX) also gained, steepening the yield curve.
  • Dollar (DX=F) edged up, and bitcoin (BTC-USD) surged to a two-week high above $62,830 amid speculation around former President Trump.
  • Trump Media & Technology (DJT) stock soared over 50% in pre-market trading.

In corporate news:

  • Alphabet (GOOG, GOOGL) is reportedly in talks for a $23 billion deal to buy cybersecurity start-up Wiz.

Later today, investors will closely listen to Jerome Powell’s comments for hints on the Federal Reserve chair’s view of the latest data.


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