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Futures Slip as Geopolitical Tensions Overshadow Strong Bank Earnings

  US stock futures edged lower as investors balanced upbeat bank earnings against rising geopolitical unease tied to escalating tensions involving Iran. Contracts tied to the Dow, S&P 500, and Nasdaq all traded in the red, signaling a cautious start to the trading day. Major banks delivered solid quarterly results, with strong trading revenue and resilient consumer activity helping lift sentiment in the financial sector. Yet the optimism was tempered by concerns that potential US responses to developments in Iran could inject fresh volatility into global markets. Energy prices climbed as traders braced for possible disruptions. The pullback comes at a moment when investors are already navigating a crowded landscape of economic data, inflation readings, and policy uncertainty. With markets on edge, even strong corporate performance wasn’t enough to counter the broader risk-off mood.
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Canada Supports South Africa Amid U.S. Boycott of G20 Meeting



In a significant show of solidarity, Canada has stepped up to support South Africa as it faces mounting pressure due to the United States' decision to boycott historic G20 meetings. Canadian Foreign Minister Mélanie Joly emphasized Canada's commitment to multilateralism and international cooperation, highlighting the importance of standing by South Africa during its G20 presidency.

South Africa, the first African nation to lead the G20, aims to advance the interests of developing countries in discussions with the world's wealthiest nations. However, the U.S. has chosen to boycott the meetings, citing disagreements with South Africa's policies and priorities. U.S. Secretary of State Marco Rubio has criticized South Africa's focus on themes such as solidarity, equality, and sustainability, which he views as contrary to American interests.

Despite the U.S. absence, other major players, including Russia, China, and the European Union, have expressed their support for South Africa's leadership. Canadian Foreign Minister Joly reiterated Canada's commitment to working with South Africa and other G20 members to address global challenges such as debt refinancing and climate change mitigation.

As the G20 meetings continue in Johannesburg, Canada's support serves as a crucial counterbalance to the U.S. boycott, ensuring that the voices of developing nations are heard and their interests are represented on the global stage.



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