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Ukraine Faces Deepening Power Shortages After Russian Strikes

A resident shows a journalist where a Russian drone struck the roof of an apartment building, depriving its residents of water, heat and electricity, in Kyiv. Ukraine is confronting one of its most severe energy shortfalls since the start of the full‑scale invasion, with the country currently able to supply only about 60% of its electricity needs. A new wave of Russian missile and drone attacks has heavily damaged power plants and transmission infrastructure across multiple regions, pushing the grid to the brink. Officials report that nearly every major power‑generating facility has been hit in recent weeks. Cities such as Kyiv, Kharkiv, Odesa, and Dnipro have experienced rolling blackouts, leaving millions of residents coping with limited heating, lighting, and communications during the winter season. Ukraine’s government has warned that the situation remains extremely challenging. Engineers are working around the clock to repair damaged facilities, but repeated strikes have slowed...
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Wall Street Soars as Consumer Resilience Fuels Record Highs

Markets Rally on Strong Economic Signals

North American stock markets surged to fresh record highs on Thursday, buoyed by robust economic data and upbeat corporate earnings that underscored the strength of consumer spending.

The S&P 500 climbed 0.54% to close at 6,297.36, while the Nasdaq Composite jumped 0.74% to 20,884.27, marking its sixth record close in seven sessions. Canada’s S&P/TSX Composite Index also joined the rally, rising 155.66 points to 27,308.63, driven by gains in consumer staples and tech stocks.

Retail Sales Rebound

June retail sales in the U.S. rose 0.6%, far exceeding expectations and signaling that consumers remain undeterred by inflation and tariff concerns. This resilience was echoed by major banks and analysts, who described the consumer outlook as “solid” and “confident.”

Earnings Boost Market Sentiment

Corporate earnings added fuel to the rally. PepsiCo surged over 7% after reporting strong demand for energy drinks and healthier sodas. TSMC, the world’s leading AI chipmaker, posted a record quarterly profit, lifting semiconductor stocks across the board. Airlines also soared, with United and Delta gaining on optimistic travel forecasts.

Investor Outlook

Despite political noise surrounding President Trump’s tariff policies and pressure on the Federal Reserve, investors remained focused on fundamentals. Jobless claims fell to a three-month low, and analysts now see a 54% chance of a Fed rate cut in September.

With Big Tech earnings on the horizon and consumer momentum holding firm, markets appear poised to extend their winning streak—though volatility may resurface as geopolitical and monetary tensions evolve.

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