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Rio’s Deadliest Police Raid Leaves 132 Dead as Bodies Line the Streets

A mourner leans over a body, the day after a deadly police operation against drug trafficking at the favela do Penha, in Rio de Janeiro. The death toll from a massive police operation in Rio de Janeiro has risen to 132 , making it the deadliest raid in the city’s history. Residents of the Penha and Alemão favela complexes awoke to scenes of horror as dozens of corpses were laid out in the streets by grieving families searching for missing relatives. The raids, part of “Operation Containment,” targeted the powerful Comando Vermelho (Red Command) gang, a criminal faction long associated with drug trafficking and violence in Rio’s northern neighborhoods. More than 2,500 police officers , supported by helicopters and armored vehicles, were deployed in what was described as a meticulously planned crackdown. Officials hailed the operation as a blow to organized crime, but criticism has mounted over the scale of the violence. Human rights advocates and local residents accused police of ca...
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US Futures Rise as Inflation Cools Unexpectedly

                                            

US stock futures are on the rise today after a key report on consumer inflation surprised investors. The Consumer Price Index (CPI) declined 0.1% over the previous month, marking the first month-over-month decrease since 2020. Additionally, the annual gain in consumer prices was the slowest rise since early 2021, coming in at just 3.0% over the prior year in June.

Here are the highlights:

  • S&P 500 Futures: The broad index crossed 5,600 for the first time on Wednesday, and futures rose by 0.2% today.
  • Dow Jones Industrial Average Futures: These rose roughly 0.1%.
  • Nasdaq 100 Futures: Contracts on the tech-heavy Nasdaq 100 also gained around 0.2%.

Fed Chair Jerome Powell’s recent comments have fueled expectations of interest-rate cuts, and today’s inflation data further bolstered bets on a cut by September. Approximately 87% of traders now expect such an outcome, according to the CME FedWatch tool.

In corporate news, Costco shares rose in pre-market trading after announcing its first membership fee hike since 2017. This move is seen as reflecting price pressures on consumers. Meanwhile, PepsiCo and Delta Air Lines reported earnings, setting the stage for big bank earnings in the second quarter.

Stay tuned for more updates as the market continues to react to economic data and corporate earnings.


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