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Iran warns US and its allies against escalating the conflict
Iran warned against a new major attack by the United States or its allies on Sunday, saying it had received information that such an action was in preparation. This added to the tensions already present in a region on edge following drone and missile attacks on Saudi Arabia. Iran's central military command announced on state-run media that any further attack would result in a sustained retaliation, including against US interests and bases. Washington's regional partners would also be considered as parties to the conflict. It did not provide any further details on the information that it claimed to have about an upcoming US attack. On Saturday, the US State Department released a security warning saying that there could be an unforeseen 'escalation' in the Middle East. Americans should remain vigilant and aware of any possible flight cancellations or airspace closures. The US-Iran conflict has lasted nearly seven months, and neither side is willing to make the major concessions required to end it. With global energy markets already stretched to the limit, the conflict continues spilling over into other crises around the region. The Houthis of Yemen, who are backed by Iran, made significant advances along Yemen’s Red Sea Coast after the civil war erupted in Yemen this month. They also claimed to have carried out attacks in Saudi Arabia’s capital Riyadh, and on an important oil facility located in Yanbu, the Red Sea port in the Kingdom. After overnight booms in Saudi Arabia's capital, a video shows a huge plume of black smoke billowing out of the main international airport of Riyadh. Saudi Arabia has not commented on the incident, or on Houthi claims. However, a coalition led by Saudi Arabia that is fighting the Houthis claimed to have foiled other attacks against the kingdom. US State Department alerted of Houthi hostilities, including attacks on civilian airports in Saudi Arabia. The US Department of Defense didn't immediately respond to an inquiry about Iran's claim that it knew of a US attack in the works. The recent escalation of the Houthis forced Riyadh to face a difficult dilemma: either continue airstrikes against the group in order to prevent it from seizing additional Yemeni territory, or back off and hope that drone attacks on critical infrastructure will not occur. STRIKES IN SAUDI ARABIA Houthi gains on the coast have given the group the opportunity to control shipping between the Red Sea, Asia and Europe. They can also 'blockade' the vital waterway. Iran has already blocked most shipping through the Strait of Hormuz. The oil-rich Gulf is now cut off from the global market, increasing pressure on oil prices. The US blockade of Iranian ports has meanwhile prevented Iran from selling its oil, causing major economic problems for the Islamic Republic. There is little evidence of a return from the June ceasefire that broke down in July due to disagreements over its terms. Iran reiterated its position on Sunday that it will not reopen Strait of Hormuz unless?the June agreement was met, according to their interpretation. Iranian Parliament Speaker Mohammad Baqer Qalibaf stated that Iran must continue to fight and negotiate to push its enemies back, as well as consolidate any diplomatic gains.
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Iran warns US and its allies against escalating the conflict
Iran warned against any new major attack by the United States or its allies, saying that it had received information that such a move was being planned. This added to the tension in the 'a'region, already on edge following drone and missile attacks on Saudi Arabia. Iran's central military command announced on state-run media that any further attack would result in a sustained retaliation, including against US interests and bases. Washington's regional partners would also be considered as parties to the conflict. It did not provide any further details on the information that it claimed to have about an upcoming US attack. On Saturday, the US State Department released a security warning saying that there could be an 'unexpected escalation' in the Middle East. Americans should remain vigilant and aware of any possible flight cancellations or airspace closures. The 'US-Iran War' is now seven months old, and neither side appears to be ready to make the major concessions required to end the war. With global energy markets already stretched to the limit, the conflict has continued to spill over into other crises in the region. Yemen's Iran backed Houthis made major gains along Yemen's Red Sea Coast after the country civil war re-emerged this month. They said that they carried out strikes on the Saudi capital Riyadh as well as a major oil installation in the Red Sea port Yanbu of the Kingdom. After overnight booms in Saudi Arabia's capital, a video showed a huge plume of "black smoke" billowing out of the main international airport of Riyadh. Saudi Arabia has not commented on the incident, or on Houthi claims. However, a coalition led by Saudi Arabia that is fighting the Houthis claimed to have foiled other attacks against the kingdom. US State Department alerted of Houthi hostilities, including attacks on civilian airports in Saudi Arabia. The recent escalation of the Houthis forced Riyadh to face a difficult decision: either continue airstrikes against the group in order to prevent it from seizing additional Yemeni territory, or?step back and avoid drone strikes on vital infrastructure. STRIKES ON SAUDI ARABIA Houthi gains on the coast means the group's troops now sit along the Bab el-Mandeb Strait. This gives them better control over shipping between the Red Sea, Asia and their ability to blockade this vital waterway. The oil-rich Gulf is now virtually cut off from the global market, as Iran has already blockedaded?most shipping through the Strait of Hormuz. This puts pressure on the global oil price. The US blockade on Iranian ports has meanwhile prevented Iran from selling oil and caused major economic problems for the Islamic Republic. There is little evidence of a return from the June ceasefire that broke down in July due to disagreements over its terms. Iran reaffirmed on Sunday that it would not reopen Strait of Hormuz unless the 'terms of the June agreement as they were interpreted by them' had been met. Iranian Parliament Speaker Mohammad Baqer Qalibaf stated that Iran must continue to fight and negotiate to push its enemies back, as well as consolidate any diplomatic gains.
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Palestinian gunman kills Israeli in West Bank; soldiers kill motorist
Police reported that violence flared up in the West 'Bank occupied on Sunday after a Palestinian suspected of being a gunman shot and killed an Israeli. Israeli soldiers then killed a Palestinian driver who, according to the military, was attempting to run over them. According to Israeli police and military, the gunman fired from his car at Israelis who were gathered near a spring in the vicinity of the settlement Neve Tzuf near Ramallah. The medics that arrived on the scene of the shooting found a man inside a car with a critical gunshot injury. Police said he was pronounced deceased at the hospital. Police said that the gunman was arrested a few hours after he was located at a Ramallah hospital. The military announced shortly after the shooting that it had "eliminated", a Palestinian driver who attempted to ram soldiers in the West Bank, near the settlement Ganim. It said that no soldiers were injured. It was not immediately able to verify the soldiers' story. The fatal incidents on the eve of the Jewish holy day, Yom Kippur were not clearly connected. Benjamin Netanyahu, the Israeli Prime Minister, said that he had instructed security agencies to bolster their forces in the region and conduct arrests. Hamas, a militant Palestinian group, praised the shooting but did not take responsibility for it. Since Hamas' attack on Israel in October 2023 and the subsequent Israeli military offensive against Gaza, violence has increased in the West Bank. West Bank violence has seen a rise in militant settler attacks on Palestinians as well as Israeli military raids on the West Bank and Palestinian attacks against Israelis.
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Ten lions suspected of poisoning found dead at Tanzania wildlife reserve
The area's management authority reported that ten lions were found dead this week in Tanzania's Ngorongoro wildlife reserve. Initial findings suggest they may have been poisoned. The deaths have raised concerns about the conservation of lions within one of Africa's best-known wildlife ecosystems. The poisoning of large carnivores in East Africa is a "recurring" threat. It's often linked to conflicts involving predators and livestock owners. In a late-Saturday statement, the Ngorongoro Conservation Area Authority said that the lions had been discovered on 18 September in Ndutu?area in Endulen Ward of Arusha Region. The authority stated that preliminary findings suggested the animals died after ingesting a poison. It added that they had launched an investigation to identify the cause and those responsible. Ngorongoro Conservation Area, a UNESCO World Heritage Site located in northern 'Tanzania is one of the top tourist attractions. The area is home to a variety of wildlife, including lions. elephants. buffaloes. and endangered black rhinos. Four suspects were arrested last month in an investigation into the deaths of 18 elephants that occurred across the border in Kenya.
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Sources say that China Rare Earth Group is in negotiations to purchase MP Materials' shareholder Shenghe Resources.
Two sources familiar with the matter said that the state-owned China Rare?Earth?Group was in negotiations to buy Shenghe Resources. This would consolidate Beijing’s control over the rare earth sector, and give Beijing a stake in Washington’s rare Earth play. The deal, if successful, would transfer control of Shenghe’s stakes in foreign companies, including a 3 percent share of US company MP Materials. This firm counts the US Department of Defense, its largest shareholder, after an investment made last year. Shenghe Resources confirmed that it had been made aware of "false reports" in overseas media about a rare earth enterprise group allegedly planning to buy a majority stake in a company, and indirectly own interests in its overseas assets. Shenghe Resources filed a statement to the Shanghai Stock Exchange late on Sunday. "Upon written request by the company, its controlling shareholder Institute of Multipurpose Utilization of Mineral Resources responded in writing explicitly stating there are no plans for the company's control stake to be transferred to external parties." Sources who spoke under the condition of anonymity due to the sensitive nature of the issue said that talks between the two companies began earlier this year. One person said that China Rare Earth Group wanted to acquire a controlling interest. Sources did not know the exact date of announcement or completion. China Rare Earth would gain control of one of the few remaining Chinese rare earth mining companies with private ownership. This would bring to an end a decade-long effort to consolidate this sector under state control. Beijing would also have a tighter grip on elements vital to electric vehicles, windmills, electronics, and the defence sector. This control has been used to great effect by China in its trade dispute with the US. Shenghe purchased Australia's Peak Rare Earths last year. The deal could be affected by the possibility of a state-owned Chinese rare earth company sharing space with the US Department of Defense on a registry of shareholders. Sources did not know what was going to happen with Shenghe's stakes and assets overseas. MP has said that neither Shenghe or the Chinese government have any control over its operations. China Rare Earth Group, and the Ministry of Commerce have not responded to requests for comment. According to one source, a deal would also give Shenghe better acces to the quotas Beijing uses to control supply. Beijing gives quotas to the state-owned companies, and then they are allocated to subsidiaries. China has not made public the quotas set for mining, smelting, and separation. They are closely watched as a barometer of global rare earths supplies. China Rare Earth Group is the largest supplier of rare earth heavy elements in China. It was formed in 2021 following a reorganization between five state-owned rare-earths companies.
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Drones strike oil refinery in Russian Capital, killing two people
Authorities said that two people were killed in one of the largest drone attacks by Ukraine on the Moscow Region and an oil refinery was also hit. This comes as Russia is entering the final day of its parliamentary election. Ukraine and Russia continue to attack each other's infrastructure, despite a Monday announcement by US President Donald Trump that they would stop. Sergei Sobyanin, the Moscow mayor, said in his Telegram channel, that the largest Ukrainian drone attacks were thwarted. Russia had downed more than 1,600 unmanned aircraft since Saturday, among them 450 drones headed to Moscow. Sobyanin stated that several drones had reached the premises of a?oil refinery, and one of them hit an apartment. He added that there were "no injuries" in the city. He said: "The unprecedented attack was clearly designed to disrupt the elections." "The enemy failed to achieve that." Witnesses heard explosions in Moscow, and saw smoke plumes billowing out of the site of the Moscow Refinery. It was not immediately clear how much damage had been done to the facility. Ukrainian strikes have knocked out an important part of Russia's refining capacity. This has led to oil shortages and fuel price hikes in many regions, across all 11 time zones. According to the latest data, the Moscow?plant that has been?targeted multiple times processed 11.6 millions metric tons in 2024. It produced 2.9 million tonnes of gasoline and 3.2 million tons diesel. Ukraine has not yet commented on these attacks. Both sides claim they don't target civilians. The governor of the greater Moscow region, Andrei Vorobyov, stated that in addition to two deaths, 400 people including 70 children were evacuated from a 21 storey apartment building located in the Ramenskoye District and several homes were damaged.
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Three people are killed in Gaza by Israeli strikes, say medics
Health officials reported that Israeli airstrikes in Gaza Strip killed at least 3 Palestinians on Saturday. Basir al-Bursh was killed in an air strike near the Jabalia Refugee Camp, a north-east Gaza refugee camp, according to medics and relatives. Munir al-Bursh is the director-general of the health ministry for the territory. Israel's military did not provide any further details about the strikes on Basir al-Bursh or other militants. Hamas, a militant Palestinian group which runs Gaza, has not yet commented. Munir al-Bursh, according to his family and doctors, lost a child?in a December 2023 Israeli airstrike. He was injured in the?attack. Al-Bursh, a father, was seen in video footage obtained by carrying his son, wrapped up in a blanket and accompanied by other mourners, as the ambulance rushed it to hospital. Al-Bursh said in the video: "I was in the tent with him, and he told me, Dad, that they would target us both, you and I together. I said it's fine, we can 'go to heaven together. Al-Bursh added, "He was beaten and martyred when he went outside the tent. May God have mercy on his soul." Al-Bursh, who was a patient at Al Shifa Hospital when mourners paid their respects to Al-Bursh, could barely stand. Civil defence and medics confirmed that a strike in Shejaia east of Gaza City killed a man, while another struck a vehicle in the Sheikh Radwan area of Gaza City killing a person. This brings Saturday's death count to at least 3. The?Israeli army said that the Sheikh Radwan attack targeted a Hamas terrorist. The explosion?turned the vehicle into a mangled wreck. Palestinian authorities claim that more than 73,000 Palestinians have died in Israel's attack on Gaza. The assault was launched after Hamas fighters killed about 1,200 Israelis in southern Israel back in October 2023. The US-brokered ceasefire agreement of last year called for the eventual reconstruction and rebuilding of the territory. However, negotiators failed to agree on terms for Hamas's?disarmament and Israel's withdrawal. According to Gaza's health officials more than 1,300 Palestinians have died in Gaza, mostly civilians. The Israeli military claims that four Israeli soldiers were killed.
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Ravindra, Cricket-New Zealand’s Ravindra is doubtful for the India series following an injury sustained in a promotional shoot
Rachin Ravindra, an all-rounder for New Zealand, dislocated his left shoulder while filming a diving catching during a promotional shoot. This puts him in doubt if he is selected to play next month's Twenty20 series against India. New Zealand Cricket released a statement saying that Ravindra suffered an injury to his right shoulder during a Sky commercial shoot on Wednesday. It said that "Ravindra's return to play will be determined by the progress he makes during his first few weeks of rehabilitation." Ravindra is a 26-year-old left-handed finger-spinner who has played for New Zealand across?115 matches in all formats. He is a versatile 'batter,' who can fit?into either the middle or top order. New Zealand's top run-scorer at the 50-over World Cup 2023, and highest wicket-taker at the T20 World Cup this year where they reached the final. Mike Sandle, New Zealand's performance manager, said: "We are devastated for Rachin." As with all commercial shoots that involve our players, safety measures were in place and agreed upon by all parties. The accident was a bit of an accident and we'll review our procedures in the future. New Zealand will host India in five T20 matches starting October 22. Then, five One-Day Internationals followed by two tests and five T20 matches the following month.
S&P 500 and Nasdaq finish higher, post weekly gains following earnings-heavy weeks
S&P 500 and Nasdaq closed at record-breaking?highs Friday, helped by strong earnings and a drop in crude oil prices. They also turned the page on the?largest monthly percentage gains for years.
Tech?strength?put the Nasdaq ahead, bringing the S&P?500 into positive territory. Both indexes have posted their sixth weekly advance, which is their longest run since October 2024.
The stock market is about to embark on a historically weak six-month period. According to Fidelity data, since 1945, the S&P 500 gained on average about 2% between May and October. This compares to an average gain of 7% between November and April.
Analysts now expect a 27.8% increase in first-quarter earnings year-over-year. This is according to LSEG.
Investors were keen to see if the Magnificent Seven, a group of companies that are related to artificial intelligence, had reported their results this week. They also wanted to know when and to what extent the huge investments made in the new technology have started to pay off.
This is an increase of 11.7 percentage points from the previous estimate. It's the largest earnings growth since the fourth quarter 2021.
LSEG reports that 83% of the 314 companies who have reported results have beaten their earnings estimates and 78% have reported higher revenues than expected.
Ryan Detrick is chief market strategist for Carson Group, Omaha. He said: "Today's actions are really the cherry on top of a solid week for investors. Earnings season continues to come out stronger than expected." "At exactly the same time, the S&P 500 had its second-best month since 1950."
Detrick said, "It appears that the upward trend could very well continue in May."
GEOPOLISM, CRUDE PRICE AND THE ECONOMY
The U.S. and Israel war against Iran appears to be stalling, as the Strait of Hormuz closure has pushed up energy prices and stoked inflation fears.
The front-month crude contracts eased when it was reported that Iran had submitted a new proposal for negotiation with Washington.
Tom Hainlin is a national investment strategist with U.S. Bank Wealth Management, Minneapolis.
The data revealed that the U.S. The Institute for Supply Management reported that factory activity increased in April for the fourth month in a row. However, the price-paid component, which is an inflation indicator, jumped to the highest level it has seen in four years.
Preliminary data shows that the S&P 500 rose 20.46 points or 0.28% to 7,229.47, and the Nasdaq Composite increased 217.67 points or 0.87% to 25,109.98. The Dow Jones Industrial Average dropped 155.67 points or 0.31% to 49,496.47.
Apple shares rose after the company announced a solid forecast for sales, citing strong demand for the MacBook Neo and its flagship iPhone 17.
Atlassian's shares surged after the enterprise software company raised its forecast.
Both Salesforce and ServiceNow, who are competitors, have gained ground.
Roblox's bookings fell after a reduction in the company's annual forecast. Reddit's stock soared after a positive quarterly revenue forecast.
Chevron's overall profit fell to its lowest level since five years, despite beating earnings expectations. Both supermajors ended lower.
(source: Reuters)