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Trump Reasserts U.S. Military Rights Over Diego Garcia Base

U.S. President Donald Trump's motorcade returns to the White House following attending the National Prayer Breakfast in Washington, D.C., U.S., February 5, 2026. Former U.S. President Donald Trump has reiterated that the United States maintains the right to “militarily secure” the strategic airbase on Diego Garcia if future political developments threaten American access. His remarks follow recent discussions with UK Prime Minister Keir Starmer regarding the agreement transferring sovereignty of the Chagos Archipelago to Mauritius while preserving the joint U.S.–UK military presence. Trump, who previously criticized the sovereignty deal as a strategic misstep, struck a more measured tone after the meeting. He acknowledged that the UK government had negotiated “the best deal it could,” but emphasized that Washington would act decisively to protect its long‑standing security interests in the Indian Ocean. The Diego Garcia base remains a critical hub for U.S. military operations, s...
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US Futures Tread Water After S&P 500’s Record Close

                                        

US stock futures held steady on Wednesday following a record close for the S&P 500. Investors are closely watching fresh economic data and Federal Reserve minutes for hints on potential rate cuts in this holiday-shortened session.

  • S&P 500 Futures (ES=F) traded flat after the benchmark index ended Tuesday above 5,500 for the first time.
  • Nasdaq 100 Futures (NQ=F) remained little changed.
  • Dow Jones Industrial Average Futures (YM=F) edged up 0.1%.

The stock market is preparing for an early close (1 p.m. ET) on Wednesday ahead of the Independence Day holiday. Jerome Powell’s remarks on cooling inflation have fueled hopes for an interest-rate cut, even as he signaled no immediate urgency to act. Traders are currently pricing in 65% odds of a rate decrease in September, according to CME’s FedWatch tool.

Eyes are now on updates regarding private payrolls and jobless claims, providing insight into the labor market before the key June jobs report release on Friday. Additionally, data on services activity and factory orders will be closely watched for signs of further economic slowing that could prompt policy adjustments.

In corporate news:

  • Paramount Global (PARA) shares climbed over 12% due to reports that Skydance Media has acquired a controlling stake in the entertainment giant.
  • Tesla (TSLA) shares rose almost 3% in pre-market trading following a 10% surge on Tuesday after the EV maker exceeded Wall Street delivery estimates.

Investors are bracing for the July 4th closure, keeping a keen eye on economic data as they assess the path forward. 


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