23.5 C
New York
Saturday, September 20, 2025
Home Blog Page 36

Today in the stock market: Dow futures rise as Wall Street keeps a close watch on the potential obstacle to a Fed rate cut.

0

Stock futures gained momentum on Sunday evening as investors brace for fresh inflation data and political turmoil overseas that could ripple through the bond market.

That comes as Friday’s dismal jobs report ratcheted up recession fears while also locking in odds for a rate cut later this month from the Federal Reserve.

Futures tied to the Dow Jones Industrial Average rose 94 points, or 0.21%. S&P 500 futures were up 0.23%, and Nasdaq futures added 0.38%.

The yield on the 10-year Treasury was flat at 4.091%. The U.S. dollar was up 0.05% against the euro and up 0.65% against the yen after Japan’s prime minister announced he will step down after less than a year in office.

More political turmoil in the world fourth-largest economy could rattle the bond market as investors gauge whether the next leader will lean toward fiscal discipline or more profligacy.

Similarly, France’s government faces a confidence vote on Monday after bond vigilantes sent French yields higher on expectations for more gridlock and no progress on reining in deficits.

U.S. oil prices rose 0.32% to $62.07 per barrel, and Brent crude added 0.40% to $65.76. That’s despite key OPEC+ members agreeing on another production hike meant to grab more market share.

Gold fell 0.64% to $3,630 per ounce, but still hovering near record highs after recession fears sent safe-haven assets higher last week.

More recession signals were lurking in the latest jobs data. On Sunday, Moody’s Analytics chief economist Mark Zandi point out that most U.S. industries have been shedding jobs rather than adding them for several months, warning that “this only happens when the economy is in recession.”

Such labor market weakness basically guaranteed a Fed rate cut. According to CME’s FedWatch tool, Wall Street is certain that some kind of cut is coming when the central bank announces its policy decision on Sept. 17. The only question is whether it will be 25 basis points or 50 basis points. Right now, a 92% probability of a quarter-point cut is priced in.

Perhaps the only thing that could put a rate cut in doubt is a surprise spike in inflation. The effect of President Donald Trump’s tariffs on inflation has been more muted that anticipated, but investors will get crucial updates.

On Wednesday, the producer price index for August will come out, and economists expect a 0.3% month increase, cooling from the 0.9% surge in July.

On Thursday, the consumer price index is due, and Wall Street sees a 0.3% gain, accelerating from the 0.2% pace a month earlier. On an annual basis, the CPI is also seen heating up, with August expected to see a yearly pace of 2.9%, up from 2.7% in July.

But inflation in core consumer prices should remain steady at a monthly rate of 0.3% and an annual rate of 3.1%. Still, both the headline CPI and core CPI would continue to be above the Fed’s 2% target.

On Tuesday, the Labor Department will publish preliminary benchmark revisions to its establishment survey data for 2025. With revisions earlier this year mostly trimming prior readings, more downward revisions could be due.

Meanwhile, Fed Governor Lisa Cook is fighting Trump’s attempt to fire her, and a judge hearing the case could issue a ruling in the coming week, clarifying whether she will be able to participate in the FOMC meeting.

In addition, the Senate could vote on Trump’s nomination of White House economic adviser Stephen Miran to the Fed’s board of governors, allowing him to take part in the meeting.

Fortune Global Forum returns Oct. 26–27, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.

South Korea secures agreement to repatriate citizens following Hyundai investigation in US

0

South Korea’s government says it has reached an agreement with the US to release its citizens detained in a massive immigration raid at a Hyundai plant in Georgia.

The chief of staff of South Korea’s president said a chartered plane would be sent to bring the detainees home if administration procedures were completed.

Kang Hoon-sik said the authorities were trying to improve the visa system to prevent such incidents in the future.

US officials detained 475 people – more than 300 of them South Korean nationals – who they said were found to be illegally working at the battery facility, one of the largest foreign investment projects in the state.

Media in both countries report that South Korean Foreign Minister Cho Hyun is expected to travel to the United States on Monday.

The White House has defended the operation at Hyundai, dismissing concerns that the raid could deter foreign investment. President Donald Trump took aim at the raid in a post on social media and called for foreign companies to hire Americans.

“I am hereby calling on all Foreign Companies investing in the United States to please respect our Nation’s Immigration Laws,” Trump said in the post on Sunday.

He said the US would make it easy for foreign companies to legally bring their “great technical talent, to build World Class products” but, asked that in return, these companies “hire and train American Workers”.

A worker at the plant spoke to the BBC about the panic and confusion during the raid. The employee said the vast majority of the workers detained were mechanics installing production lines at the site, and were employed by a contractor.

He also said a minority of those arrested had been sent from head office in Seoul and had been carrying out training, which the BBC has not been able to confirm.

More extensive immigration raids like the operation at the plant are likely, Trump administration border tsar Tom Homan told CNN’s State of the Union on Sunday.

“We’re going to do more work site enforcement operations,” Homan said.

“No one hires an illegal alien out of the goodness of their heart. They hire them because they can work them harder, pay them less, undercut the competition that hires US citizen employees.”

Video released by ICE officials showed Asian workers shackled in front of a building, with some wearing yellow vests with names such as “Hyundai” and “LG CNS”.

“People on short-term or recreational visas are not authorized to work in the US,” ICE said, adding that the raid was necessary to protect American jobs.

“This operation sends a clear message that those who exploit the system and undermine our workforce will be held accountable,” Homeland Security Investigations (HSI) Special Agent Steven Schrank said in a statement on Saturday.

South Korea, a close US ally, has pledged tens of billions of dollars in American manufacturing investment, partly to offset tariffs.

The timing of the raid, as the two governments engage in sensitive trade talks, has raised concern in Seoul.

Trump has actively encouraged major investments from other countries while also tightening visa allocations for foreign companies.

LG Energy Solution, which operates the plant with Hyundai, says many of the LG employees arrested were on business trips with various visas or under a visa waiver programme.

The company has said it is suspending most business trips to the US and directing employees on assignment in the US to return home immediately.

South Korean media widely described the raid as a “shock,” with the Dong-A Ilbo newspaper warning it could have “a chilling effect on the activities of our businesses in the United States”.

The factory, which makes new electric vehicles, had been touted by Georgia’s Republican governor as the biggest economic development project in the state’s history, employing 1,200 people.

The arrested workers are being held at an ICE facility in Folkston, Georgia.

LG Energy Solution said 47 of its employees and about 250 workers for contractors at the joint venture factory were detained.

Challenging Client

0



Client Challenge



JavaScript is disabled in your browser.

Please enable JavaScript to proceed.

A required part of this site couldn’t load. This may be due to a browser
extension, network issues, or browser settings. Please check your
connection, disable any ad blockers, or try using a different browser.

Arkansas State Champion Riley Gibson (2026) Commits to Swim for the Razorbacks in-state

0

By Anne Lepesant on SwimSwam

Fitter and Faster Swim Camps is the proud sponsor of SwimSwam’s College Recruiting Channel and all commitment news. For many, swimming in college is a lifelong dream that is pursued with dedication and determination. Fitter and Faster is proud to honor these athletes and those who supported them on their journey.

Riley Gibson from Springdale, Arkansas, will head across town to swim and study at the University of Arkansas in Fayetteville beginning next fall. At the time of her verbal commitment, she wrote:

“I am so privileged to announce my verbal commitment to continue my academic and athletic career at the University of Arkansas. I am so grateful for my coaches, teammates and family for supporting me throughout these years. WOO PIG!!”

Gibson will join her twin sister, #14 Hayden Gibson, “Best of the Rest” breaststroker Rachel McAlpin, Ellery Chandler, and Evelyn Jezerinac in the Arkansas class of 2030.

Like her twin sister, Gibson swims for Har-Ber High School and Razorback Aquatic Club Aquahawgs. She specializes in fly and IM. At the 2025 Arkansas High School 6A State Championships, she placed 2nd in the 200 IM (2:12.56) and 3rd in the 100 fly (58.13), taking home lifetime bests in both events. She lowered her PB in the fly at Columbia Sectionals two weeks later, going 57.89 in finals to finish 30th. She also finaled in the 200 fly (8th) and competed in the 200/400 IM, logging a PB in the 400 (4:43.86).

This summer, she improved her LCM bests in the 200/1500 free, 100/200 back, 100 breast, 50/100 fly, and 200/400 IM. She was state champion in the 200 fly and runner-up in the 50 fly, 100 fly, and 400 IM at the 2025 Arkansas Long Course State Championships.

Best SCY times:

  • 200 fly – 2:05.59
  • 100 fly – 57.89
  • 200 IM – 2:12.56
  • 400 IM – 4:43.86

If you have a commitment to report, please send an email with a photo (landscape, or horizontal, looks best) and a quote to Recruits@swimswam.com.

About the Fitter and Faster Swim Tour 

Fitter & Faster Swim Camps feature the most innovative teaching platforms for competitive swimmers of all levels. Camps are produced year-round throughout the USA and Canada. All camps are led by elite swimmers and coaches. Visit fitterandfaster.com to find or request a swim camp near you.

FFT SOCIAL

Instagram – @fitterandfasterswimtour
Facebook – @fitterandfastertour
Twitter – @fitterandfaster

FFT is a SwimSwam partner.

Read the full story on SwimSwam: Arkansas State Champion Riley Gibson (2026) to Remain In-state to Swim for the Razorbacks

New YFQ-42A Combat Drone Prototype Undergoes Testing by US Air Force

0

One of the US Air Force’s first official combat drones has taken to the air after only a year of building and development. General Atomics’s YFQ-42A is currently undergoing flight testing in anticipation of a future fleet of 1,000 autonomous planes

The YFQ-42A Collaborative Combat Aircraft (CCA) isn’t the only autonomous combat drone in the world under development, but it is the first of two, along with the Anduril YFQ-44A, to be officially accepted as combat aircraft by a major air force. In this case, the designations stand for Y – Prototype, F – Fighter, Q – Unmanned Aircraft, design number 42 and 44, and A – series.

The idea is to create a fleet of autonomous jet-powered Loyal Wingman combat craft with the performance to operate alongside fifth- and sixth-generation fighters, including the F-22 Raptor and the F-35 Lightning II. These aircraft would act as force multipliers that would cost less than crewed fighters, yet would have advanced machine learning for human-machine teaming. With this, the human pilot can concentrate on the mission while the drones fly themselves, even in combat scenarios.

Derived from the General Atomics “Gambit” family of uncrewed aerial vehicles, its development was sped up by means of model-based digital engineering as well as an autonomous avionics suite tested over five years using a jet-powered MQ-20 Avenger drone, formerly known as the Predator C, and the XQ-67A Off-Board Sensing Station (OBSS).

Because the YFQ-42A is still in the prototype stage, its specifications are still a bit fluid as well as largely under wraps, but it’s estimated to have a range of over 700 nautical miles (805 miles, 1,300 km) and be capable of carrying two air-to-air missiles in its payload bay. In addition, the fuselage is designed for a low radar and infrared profile for better stealth. It may also be capable of aerial refueling.

“What a great moment for the U.S. Air Force and for GA-ASI,” said GA-ASI President David R. Alexander. “It’s been our collaboration that enabled us to build and fly the YFQ-42A in just over a year. It’s an incredible achievement and I salute the Air Force for its vision and I salute our development team for delivering yet another historic first for our company.”

A decision is expected in 2026 as to which of the two prototypes will proceed to full production.

Source: General Atomics

Israel escalates destruction in Gaza City, targets another high-rise tower with airstrikes | Latest updates on Israel-Palestine conflict

0

Israel has destroyed another high-rise in Gaza City, bringing the number of buildings razed during its campaign to seize the largest urban centre in the Gaza Strip to at least 50, according to the Palestinian Civil Defence.

The attack on Al-Ruya Tower on Sunday came as Israeli forces killed at least 65 people across the Gaza Strip, including 49 in the northern part of the besieged enclave.

Recommended Stories

list of 3 itemsend of list

The Israeli military said it struck Al-Ruya Tower on Sunday after issuing an evacuation threat, forcing residents and displaced families sheltering in makeshift tents in the neighbourhood to flee.

The head of the Palestinian NGOs Network, Amjad Shawa, who was near the site of the attack, told Al Jazeera that the situation “is scary”, with panic spreading among the people.

“Today, hundreds of families lost their shelters. Israel [is] aiming to force Palestinians to the southern areas using these explosions, but everyone knows that there is no safe place in the south or any humanitarian zone,” Shawa said.

Israeli Prime Minister Benjamin Netanyahu claimed that the military was “eliminating terrorist infrastructure and nefarious terrorist high-rises”, a talking point that Israel often repeats as it obliterates civilian infrastructure in Gaza.

The attack on Al-Ruya – a five-storey building with 24 apartments, as well as department stores, a clinic and a gym – follows an earlier one on the Al Jazeera Club in central Gaza City, where tents housing displaced families were also hit.

It comes after Israel targeted the 15-storey Soussi Tower on Saturday and the 12-storey Mushtaha Tower on Friday. Several Palestinians sheltering in tent encampments around those towers were wounded.

One family that had their shelter destroyed when the Soussi Tower was reduced to rubble said, “We have nothing left for us.”

“We quickly left the building without bringing anything with us. The Israelis attacked the building half an hour later,” the Palestinian man said. “Now, we are trying to stay away from the eyes of the other people by trying to sew some fabrics and sheets,” he said, referring to his family’s attempt to put up a new shelter.

Israeli escalation in Gaza City

Israel’s security cabinet approved a plan for the military occupation of Gaza City in August, a move Netanyahu suggested had already led to the displacement of 100,000 Palestinians.

As Israel pushes to displace residents of Gaza City to the south of the enclave, Palestinians have been saying that nowhere is safe in the territory.

Gaza’s Ministry of Interior issued a statement on Sunday warning Palestinians in Gaza City not to trust Israel’s claim that it had set up a humanitarian zone in the al-Mawasi area of Khan Younis.

“We call on citizens in Gaza City to beware of the occupation’s deceitful claims about the existence of a humanitarian safe zone in the south of the Strip,” it said in a statement.

The Israeli military had designated al-Mawasi a “humanitarian zone” early on in its campaign against Gaza. Since then, it has been bombed repeatedly.

Al Jazeera’s Hani Mahmoud reported that “every five to 10 minutes, you can hear the sounds of explosions from all directions in Gaza City”, including heavy bombing in the Sabra and Zeitoun neighbourhoods.

“Israeli forces are using remotely controlled explosive robots, and detonating them in residential streets, destroying neighbourhoods,” he said. In Sheikh Radwan, Mahmoud added, homes, public facilities, schools and a mosque had been hit.

Rescuers reported that at least eight Palestinians, including children, were killed when Israeli forces bombed the al-Farabi school-turned-shelter, west of Gaza City.

Sohaib Foda, who was sleeping on a mattress in Gaza City’s al-Farabi School when the attack took place, said the attack left her and a young relative wounded.

“I heard a thud, and a block fell on my face. My cousin’s daughter, who was sleeping here, got injured and fell beside me. Another block then fell on her head,” Foda said.

“Everyone was screaming. I was scared. When I touched my face, it was covered in blood, and I realised I had been injured.”

Mohammed Ayed, who witnessed the attack, said the school was hit by two rockets. He said teams were still working in the rubble to rescue missing people or recover their remains.

“We have recovered two hands so far,” he said. “As you can see, these are children’s hands.”

Israel’s war on Gaza has killed at least 64,368 Palestinians and wounded 162,776 since October 2023, according to Gaza’s health authorities. Thousands more remain buried under the rubble as famine continues to spread across the enclave.

The Palestinian Ministry of Health in Gaza, meanwhile, said at least five people, including three children, have starved to death in Gaza over the past day.

These figures bring the total number of malnutrition deaths in Gaza to 387, including 138 children, since the start of Israel’s war on Gaza. Since the global hunger monitor, IPC, confirmed the famine in northern Gaza on August 22, at least 109 hunger-related deaths have been recorded, 23 of them children, the ministry added.

Academics, United Nations experts and leading rights groups have described the horrific Israeli atrocities in Gaza as a genocide.

Later on Sunday, United States President Donald Trump suggested that he put forward a new proposal to end the war in Gaza, calling it a “final warning” for Hamas.

The Palestinian group acknowledged receiving “ideas” from the US, saying that it welcomes any efforts to reach a lasting ceasefire.

Erin Patterson, the mushroom murderer, to be sentenced by Australian court

0


Australian court to sentence mushroom murderer Erin Patterson

Greta Thunberg’s convoy reaches Tunisia after visiting Gaza

0

Huge crowds gathered at Tunisia’s port on Sunday to welcome Greta Thunberg as her aid flotilla, bound for Gaza, docked at the port.

The Swedish climate activist is travelling with 350 pro-Palestinian activists on boats stocked with aid that they are hoping to deliver to Palestinians in Gaza.

Pictures from the Sidi Bou Said port show hordes of people surrounding the 22-year-old as she addressed the crowd. “We all know why were are here,” she said. “Just across the water there’s a genocide going on, a mass starvation by Israel’s murder machine.”

Israel has repeatedly denied that there is starvation in Gaza and has blamed any hunger on Hamas and aid agency failures.

Last month a UN-backed body confirmed that there was famine in the territory and the UN’s humanitarian chief said it was the direct result of Israel’s “systematic obstruction” of aid entering Gaza.

French-Palestinian Member of the European Parliament Rima Hassan was at the port.

“The Palestinian cause is not in the hands of governments today. It is in the hearts of peoples everywhere,” she said, adding praise for those who stand in solidarity with the Palestinian people.

Flotilla organisers have said that the aim of their mission is to “break Israel’s illegal siege on Gaza”, but the trip has not always been smooth sailing – a previous attempt in June was intercepted by Israeli forces.

This latest attempt started on Monday, when the flotilla of about 20 vessels set sail from Barcelona.

The group will now stay in Tunisia for a few days, before resuming the journey to Gaza, Reuters news agency reports.

“Some of the flotilla ships bound for Gaza has reached Sidi Bou Said port in Tunisia, where it will be expanded, loaded with additional aid, and joined by the Tunisian team for the next stage of the mission,” the collective group of activists Global Sumud Flotilla wrote on X.

Israeli authorities have characterised Thunberg’s previous attempt to sail aid to Gaza as a publicity stunt that offered no real humanitarian assistance.

In March, it introduced a nearly three-month total blockade on supplies entering the Strip, claiming the aid was being taken by Hamas. It started allowing a limited amount of aid back into the territory after increasing international pressure.

Zandi warns of recession: only select industries are boosting job growth

0

Vital signs for the labor market indicate that it’s getting sicker, and the healthcare sector is one of the few that is keep it from looking even worse.

The latest jobs report revealed the U.S. economy added just 22,000 jobs in August with revisions to prior months showing June actually saw a decline. Meanwhile, the unemployment rate edged up to a four-year high of 4.3%.

In a note on Saturday, Torsten Sløk, chief economist at Apollo Global Management, observed that job growth in tariff-impacted sectors is negative. Manufacturers alone cut 12,000 workers last month.

By contrast, the health care and social assistance sectors added 46,800 jobs, while the leisure and hospitality industry added 28,000. In fact, they have been doing the heavy lifting throughout the year, a trend that concerns Mark Zandi, chief economist at Moody’s Analytics.

“What’s perhaps most disconcerting about the flagging job market is how dependent it is on healthcare and hospitality for what little job growth is occurring,” he wrote on X on Sunday. “Since the beginning of the year, the economy has created a paltry 600k jobs, but without the job growth in these industries, there would be zero job growth.”

The year-to-date gains of the health care and social assistance sectors plus the leisure and hospitality industry total 855,900, according to data from the Bureau of Labor Statistics, meaning the economy would actually be in the hole by more than 250,000 jobs if not for those groups.

Zandi also pointed out that less than half of the industries tracked by BLS have added to payrolls over the past six months, adding that “this only happens when the economy is in recession.”

The diffusion index in the jobs report gauges the concentration of growth. A reading below 50 means more industries cut jobs than added. In August, it was 49.6, and the three-month average was 47.9.

‘Jobs recession’

Zandi has been steadily ringing alarms bells on the economy. Last month, after the shockingly bad July jobs report, he warned that “the economy is on the precipice of recession,” pointing to weak consumer spending and shrinkage in construction and manufacturing.

After the August jobs report was released on Friday, Zandi told Fortune’s Eva Roytburg that the economy is on the edge of recession and may already be in one.

He called the revision to June, which showed a loss of 13,000 jobs, especially significant as downturns are typically dated back to the first month of payroll declines.

Meanwhile, long-term unemployment has ticked higher over the past year, and more than 6 million people outside the labor force now say they want a job, up from roughly 5.7 million about a year ago, according to the BLS.

“This really feels like a jobs recession,” Zandi told Fortune. “Employment is flat to down. Output and incomes are still growing, but the economy is incredibly vulnerable. Nothing else can go wrong, or it could tip us into a full downturn.”

To be sure, the economy remains in positive territory for now. GDP expanded by 3.3% in the second quarter, and the Atlanta Fed’s GDP tracker shows the third quarter is on pace for a 3% increase.

Earlier on Sunday, Treasury Secretary Scott Bessent was asked to respond to Zandi’s jobs recession comment.

In an interview on NBC’s Meet the Press with Kristen Welker, he said policies are in place that will create good, high-paying jobs. Bessent also said payroll data collected in August has historically been prone to big revisions later, and he blamed the Federal Reserve for not cutting rates sooner.

“President Trump was elected for change, and we are going to push through with the economic policies that are going to set the economy right. I believe by the fourth quarter, we’re going to see a substantial acceleration,” he predicted.

Fortune Global Forum returns Oct. 26–27, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.

Russia Conducts Its Largest Drone Attack in the Ongoing Ukraine Conflict

0

new video loaded: Russia Launches Largest-Ever Drone Attack in Ukraine War

By Axel Boada

Russia launched hundreds of exploding drones and decoys across Ukraine in the largest air assault so far in the war, killing at least five people and setting a government building in Kyiv ablaze.