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Gaza Truce and Hostage Deal Faces Last-Minute Crisis

  In a dramatic turn of events, Israeli Prime Minister Benjamin Netanyahu announced that a last-minute crisis with Hamas is delaying the approval of a highly anticipated ceasefire and hostage release agreement. The deal, which was set to be approved by the Israeli Cabinet, has been put on hold as Netanyahu accused Hamas of reneging on parts of the agreement in an attempt to gain further concessions. The ceasefire, brokered by U.S. President Joe Biden and key mediator Qatar, was expected to bring a temporary halt to the 15-month conflict in the Gaza Strip and facilitate the release of dozens of hostages held by Hamas. However, Netanyahu's office stated that the Cabinet would not convene to approve the agreement until Hamas backs down from its new demands. Hamas, on the other hand, has denied the allegations, with senior official Izzat al-Rishq asserting that the militant group remains committed to the ceasefire agreement. The delay has raised concerns about the implementation of the...
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Wall Street Aims to Extend Winning Streak Ahead of Fed Chair Powell’s Speech

 


Wall Street inched higher early Tuesday as markets sought to extend their recent winning streak. Investors are closely watching Federal Reserve Chair Jerome Powell’s highly-anticipated speech later this week. Here are the key points:

  1. Market Movement:

    • Futures for the S&P 500 were up 0.1%, while futures for the Dow Jones Industrial Average remained relatively unchanged.
    • Hawaiian Holdings saw an 11.3% jump in premarket trading after its merger with Alaska Air cleared a major regulatory hurdle.
    • Lowe’s, however, experienced a modest decline after beating profit expectations but missing sales targets.

  2. Fed Chair Powell’s Speech:

    • The setting for Powell’s speech in Jackson Hole, Wyoming, has historically been home to significant policy announcements by the Fed.
    • Expectations are not overly high this time, as most anticipate the Fed will begin cutting interest rates next month—the first such cut since early 2022.
    • The big question is whether the economy needs the Federal Reserve to remove the brakes or apply deeper cuts for acceleration.

  3. Bond Market:

    • The yield on the 10-year Treasury held steady at 3.87%, while the 2-year ticked back to 4.05%.

  4. Global Markets:

    • Global markets mostly rose after Wall Street’s roller coaster summer, with the S&P 500 nearing its all-time high.


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