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Markets Slip as Investors Bet on Extended U.S.–Iran Ceasefire

  Stocks Edge Lower as Investors Hope U.S.–Iran Ceasefire Will Hold Stocks drifted lower today as markets balanced cautious optimism over a potential extension of the U.S.–Iran ceasefire with persistent geopolitical and inflation concerns. Recent trading sessions have shown that even modest signs of diplomatic progress can meaningfully shift investor sentiment. Asian and U.S. markets rallied earlier this week on hopes that Washington and Tehran would continue negotiations, helping unwind some of the war-driven risk premiums that had pushed oil and volatility higher. Despite the pullback, investors remain hopeful that the ceasefire—currently set to expire soon—will be extended, giving negotiators more time to work toward a longer-term agreement. Reports indicate both sides are considering adding another two weeks to the pause, a move that has already helped push Brent crude below the recent peak of nearly US$120 per barrel. Lower oil prices have eased pressure on inflation expecta...
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Texas Floods Leave Over 160 Missing as Search Efforts Intensify

In the wake of catastrophic flash flooding across central Texas, officials have confirmed that at least 161 people remain missing, with the majority unaccounted for in Kerr County, the region hardest hit by the disaster. The floods, triggered by torrential rains over the July Fourth weekend, have already claimed over 110 lives, including 27 children and counselors from Camp Mystic, a historic girls’ summer camp along the Guadalupe River.

Governor Greg Abbott, after surveying the damage by helicopter, described the destruction as “widespread and catastrophic,” pledging that search and rescue operations will continue until every missing person is found. Emergency crews, including National Guard helicopters and drones, are combing through debris-strewn riverbanks and devastated campgrounds in hopes of locating survivors.

The tragedy has sparked scrutiny over the adequacy of early warning systems. Kerr County officials admitted they lacked a public alarm system, and a previous request for funding to build one was denied nearly a decade ago. As the community mourns, stories of heroism and heartbreak continue to emerge—from counselors who clung to children in rising waters to families searching for loved ones amid the wreckage.

With drier weather expected later this week, officials hope conditions will aid recovery efforts. But for many, the emotional toll is just beginning. “It’s unimaginable,” said one local resident. “We’re grieving, but we’re also holding on to hope.”

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