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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 Pauses Near Records Ahead of Key Inflation Data

                                       

US stocks paused near record highs on Wednesday as investors awaited a crucial inflation report. The S&P 500 futures (ES=F) and Dow Jones Industrial Average futures (YM=F) were little changed, coming off fresh all-time highs. Meanwhile, contracts on the tech-heavy Nasdaq 100 (NQ=F) fell 0.3%.

The market is on edge as the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, is set to be released. Economists expect the "core" PCE, which excludes food and energy, to have risen to 2.8% in October from 2.7% in September. A print matching those expectations could dampen hopes for a rate cut in December.

Investors are also keeping an eye on updates on third-quarter GDP, durable goods data, and initial jobless claims. The mood is somewhat muted as the market winds down for the Thanksgiving holiday, with markets set to close early on Friday.

On the corporate front, Dell (DELL) shares plunged over 10% after quarterly revenue fell short amid declining PC demand. Peer HP (HPQ) also saw its stock drop 8% post-earnings. Automakers General Motors (GM) and Ford (F) were hit hard by Trump's tariff threats, with GM losing 9% and Ford dropping 3%.

As the market awaits the inflation data, the question remains: will inflation have stalled, as some officials believe, or will it continue to rise, complicating the Fed's path forward?




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