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On October 25th, local time, Sudans Rapid Support Forces (RSF) announced their control of Bara, a major city in North Kordofan State, central Sudan. The statement stated that the RSF launched a full-scale offensive against the Sudanese Armed Forces (SAF)-held city, inflicting thousands of casualties and injuring hundreds, ultimately securing full control of the city. The statement also stated that retaking Bara is a significant step toward full control of the Kordofan region. The SAF has yet to respond to the statement.Pakistans Defense Minister: We see Afghanistans desire for peace, but failure to reach an agreement will mean open war.On October 25th, local time, the second round of ceasefire talks between Pakistan and Afghanistan began in Istanbul, Turkey. The talks were hosted by Turkey and held at an Istanbul hotel. The Pakistani delegation included the militarys director of operations and security and intelligence officials. The Afghan delegation was led by Deputy Interior Minister Rahmatullah Najeeb.On October 25th, Belgorod Oblast Governor Ilya Gladkov announced that Ukrainian armed forces had damaged the Belgorod Reservoir Dam. He stated that Ukrainian forces might attempt to attack and destroy the dam again. If this were to happen, several streets in riverbanks and settlements near Kharkiv Oblast would be flooded, impacting the lives of approximately 1,000 residents. Gladkov stated that local authorities have advised residents at risk of flooding to move to temporary relocation sites. The Ukrainian side has not yet responded to this request.On October 25th, Bank of France Governor François Villeroy de Villeroy warned lawmakers debating the 2026 budget that the deficit must not exceed 4.8% of economic output to ensure France can cope with its growing debt burden. The French National Assembly is currently debating a draft budget that targets 4.7% GDP growth, but Prime Minister Jean-Claude Le Cornu has said the ultimate target should be within 5%, and he is seeking a compromise with opposition lawmakers. "It is absolutely necessary to keep the deficit below 3% between now and 2029, which would imply a maximum deficit of 4.8% next year," Villeroy de Villeroy said in an interview with La Croix. He also stated that France faces the risk of "progressive suffocation" from debt and that additional deficit spending will fail to stimulate economic growth. According to calculations by the Bank of France, if debt uncertainty is reduced, a 1% reduction in the household savings rate would boost economic growth by 0.4%. However, Villeroy de Villeroy stated that the French economy has strong momentum this year and growth will be "at least" as strong as the Banks forecast of 0.7%.

S&P 500 And Nasdaq Complete A Bumpy Session With Gains As Inflation Data Looms

Aria Thomas

May 11, 2022 10:14

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Tuesday's closing prices for the S&P 500 and Nasdaq were higher than those of the previous day, with large-cap growth stocks appreciating in the wake of the previous day's selloff as Treasury yields declined.


In tandem with yields, bank shares declined. The yield on benchmark 10-year notes fell from a three-year high to below 3 percent.


The Dow likewise closed lower, and the day's trading was bumpy, with key indexes fluctuating between gains and losses as investors anticipated the release of U.S. consumer price index and producer price index data on Wednesday and Thursday, respectively.


Investors will search for indications that inflation is at its high.


The recent market decline has been fueled by concerns that the U.S. Federal Reserve may need to act more aggressively to combat inflation. Numerous additional worries have added to the tension.


Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma, stated, "It's basically fear-based selling."


"It can't just be that the Fed will raise interest rates to combat inflation, because we've seen this before," he said. According to Dollarhide, investors have been concerned about everything from interest rates and inflation to the war in Ukraine, supply chain issues, and China's COVID-19 lockouts.


Apple Inc (NASDAQ:AAPL) shares increased by 1.6%, boosting the S&P 500 and Nasdaq the most.


The Dow Jones Industrial Average decreased 84.96 points, or 0.26 percent, to 32,160.74, while the S&P 500 rose 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite rose 114.42 points, or 0.98 percent, to 11,737.67.


Technology and growth stocks, whose valuations are primarily dependent on future cash flows, have been among the hardest affected during the recent selloff. The Nasdaq is down almost 25% so far this year.


The technology sector of the S&P 500 increased 1.6% on the day and led all S&P 500 sector advances. The S&P 500 growth index increased by 0.9%, while the S&P 500 value index declined by 0.4%.


Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated that the U.S. economy would encounter turbulence as a result of the Fed's attempts to reduce inflation that is more than three times its target, and that recent stock market volatility will not dissuade policymakers.


In a speech on Tuesday addressing excessive inflation, Vice President Joe Biden said he was considering lifting Trump-era tariffs on China as a means of reducing prices for goods in the United States.


Pfizer Inc (NYSE:PFE) shares jumped 1.7% after the company announced it will pay $11.6 billion to acquire Biohaven Pharmaceutical Holding Co. (NYSE:BHVN). Biohaven shares increased 68.4%.


Peloton Interactive (NASDAQ:PTON) fell 8.7 percent as the workout equipment manufacturer cautioned the business was "thinly financed" following a quarterly revenue decline of 23.6 percent.


The volume on U.S. exchanges was 15.45 billion shares, compared to the average of 12.55 billion shares for the previous 20 trading days.


On the NYSE, declining issues outnumbered advancing ones by a ratio of 1.36 to 1; on the Nasdaq, the ratio was 1.34 to 1.


The S&P 500 had one new 52-week high and sixty-three new lows, while the Nasdaq Composite recorded nineteen new highs and one thousand six hundred sixty-six new lows.

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