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On September 11, Israeli Prime Minister Benjamin Netanyahu and Defense Minister Katz issued a joint statement on the evening of the 10th, saying that the Israeli military had destroyed Hezbollahs underground infrastructure in the Ali Tahir Ridge area of southern Lebanon that day. The Israel Defense Forces (IDF) stated that evening that more than 1,100 tons of explosives were used in the blast to destroy tunnels beneath the ridge.Sources say that Altera, a programmable chip company backed by Silver Lake and Intel (INTC.O), is preparing for an initial public offering as early as this year.SpaceX (SPCX.O) CFO: More confident in achieving $100 billion in annualized revenue.On September 11, CNN, citing multiple sources, reported that over 100 US military advisors are currently stationed in Saudi Arabia, providing intelligence and targeting support for Saudi Arabias military operation against the Houthi rebels in Yemen. A US official stated that the US personnel belong to a recently established joint force command, totaling approximately 200 people. Sources indicated that the US is providing Saudi Arabia with targeting tools for real-time battlefield monitoring and offering geospatial support, but the US military is not currently directly involved in airstrikes or providing aerial refueling or other operational support to Saudi aircraft. The focus is primarily on helping Saudi Arabia conduct its military operations more smoothly and professionally. The report points out that this expansion of US support comes as the Houthi rebels have recently advanced on the Yemeni peninsula, potentially reaching the highest level of conflict since 2022. The Houthis recent capture of a strategically important Red Sea port has exacerbated concerns in both the US and Saudi Arabia about the formation of a "second front" in the conflict. A US official stated that the US believes hundreds of Iranian Revolutionary Guard members are currently cooperating with the Houthis in Yemen, one of their objectives being to close the Bab el-Mandeb Strait, which connects the Red Sea and the Indian Ocean. However, the US military remains cautious about deep involvement in Saudi Arabias operation against the Houthis, fearing that if the operation results in civilian casualties, it will bring back past controversies.SpaceX (SPCX.O): The next Starship flight will bring benefits.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.