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Lebanon Seeks to Distance State from Hezbollah After Cyprus Drone Incident

                                                         File photo: Youssef Ragg Lebanon has urged Cypriot authorities and the public not to conflate the Lebanese state with Hezbollah following a drone strike that originated from Lebanese territory and hit Cyprus six days earlier. Lebanese Foreign Minister Youssef Raggi emphasized that the attack was carried out independently by Hezbollah and does not reflect the policies, values, or intentions of the Lebanese government.  Raggi stressed that Lebanon rejects any attempt to use its territory for external agendas and reiterated that Hezbollah’s actions fall outside the state’s legal authority. He called on Cyprus to distinguish between the official Lebanese government and groups operating autonomously, noting that Lebanon has consistently affirmed its sovereignty ...
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Tech Surge Lifts Nasdaq as Inflation and Bank Earnings Weigh on Dow

 

U.S. stocks traded mixed on Tuesday as investors digested fresh inflation data and the kickoff of bank earnings season. The Nasdaq Composite jumped 0.8%, powered by a rally in semiconductor stocks, while the Dow Jones Industrial Average slipped 0.3% amid concerns over rising prices and uneven financial sector results.

Key Drivers:

  • Nvidia (NVDA) soared nearly 5% after announcing plans to resume AI chip sales to China, following a green light from the U.S. government. The move sparked a broader rally in chipmakers, with AMD and Micron also posting strong gains.

  • The Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in June, signaling a slight acceleration in inflation. Core CPI, excluding food and energy, climbed 2.9% annually.

  • Bank earnings painted a mixed picture: JPMorgan and Citigroup beat expectations, while Wells Fargo fell short, cutting its net interest income forecast. BlackRock also reported record assets under management but saw its stock dip on revenue concerns.

Investor Outlook:

With inflation ticking up and President Trump’s tariff threats looming, traders are closely watching the Federal Reserve’s next move. Most bets point to a rate hold this month, with a potential cut in September. Meanwhile, tech optimism continues to buoy sentiment, even as financials face headwinds.

Want a deeper dive into how AI chips and trade policy are reshaping the market? I can break it down further.

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