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Europe Scorched by Record Heatwave: France and Italy Take Emergency Measures

As a blistering heatwave tightens its grip on Europe, countries are scrambling to protect citizens from soaring temperatures and mounting health risks. France has shuttered over 1,350 schools  and closed the top floor of the Eiffel Tower as temperatures surged past 40°C (104°F)  in several regions. Sixteen French departments are now under the highest heat alert, with authorities urging people to stay hydrated and indoors during peak hours. Meanwhile, Italy has imposed restrictions on outdoor work , particularly in agriculture and construction, during the hottest parts of the day. Cities like Rome, Milan, and Venice are under red alerts, with hospitals reporting a spike in heat-related illnesses. The Mediterranean Sea has also hit record highs, with waters in Spain’s Balearic Sea reaching 30°C , up to 6 degrees above average. Scientists warn that Europe—already warming at twice the global average —is facing increasingly frequent and intense heatwaves due to climate change. New ...
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Stock Market Update: S&P 500 and Nasdaq Futures Climb as Fed Delivers and Meta Jumps

 


The stock market is showing positive momentum today, with futures for the S&P 500 and Nasdaq rising. This uptick comes on the heels of encouraging signals from the Federal Reserve and strong earnings reports from Meta Platforms.

Federal Reserve’s Impact: Federal Reserve Chair Jerome Powell has bolstered market confidence by suggesting that a rate cut could be on the table for September. This has increased traders’ expectations for a potential 25-basis-point reduction, with some even speculating a 50-basis-point cut.

Meta’s Strong Performance: Meta Platforms has seen a significant boost, with its shares climbing over 7% in pre-market trading. The company’s second-quarter earnings exceeded expectations, and its optimistic third-quarter sales forecast has further fueled investor enthusiasm.

Market Reactions: The positive news from Meta and the Federal Reserve has led to a rally in tech stocks. Futures on the S&P 500 and the tech-heavy Nasdaq 100 are both up roughly 0.4%, while Dow Jones Industrial Average futures have edged up by 0.1%.

Looking Ahead: Investors are now turning their attention to upcoming earnings reports from other major tech companies, including Apple and Amazon, which are due after the bell. Additionally, the market is awaiting the release of the July jobs report, which will provide further insights into the labor market and its impact on Fed policy.

Stay tuned for more updates as the market continues to react to these developments.


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