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☆ Philippines, Australia start sea, air patrols in South China Sea
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +3 min

Earvin Perias/Pool via REUTERS/File Photo Acquire Licensing RightsMANILA, Nov 25 (Reuters) - The Philippines and Australia began their first joint sea and air patrols in the South China Sea on Saturday, days after Manila took similar steps with the U.S. as Pacific nations warily eye an increasingly assertive China. China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia and Brunei. The Philippines is ramping up efforts to counter what it describes as China's "aggressive activities" in the South China Sea, which has also become a flashpoint for Chinese and U.S. tensions around naval operations. The patrols will be carried out in the West Philippine Sea, said Philippine Department of National Defense spokesperson Arsenio Andolong, using Manila's term for waters in the South China Sea that fall within its exclusive economic zone. China has accused the Philippines of enlisting "foreign forces" to patrol the South China Sea and stirring up trouble.

Persons: Ferdinand Marcos Jr, Anthony Albanese, Earvin, China's, Richard Marles, Marcos, Marles, Arsenio Andolong, Karen Lema, William Mallard Organizations: Australia's, Rights, Australia, ., Philippine, Australian Defence Force, Armed Forces, Philippine Department of National Defense, South China, Toowoomba, Cooperative, Thomson Locations: Manila, Philippines, Rights MANILA, South, China, Australia, Vietnam, Indonesia, Malaysia, Brunei, South China, U.S, West Philippine, Philippine, United, Taiwan, West Philippine Sea

☆ Philippines, Australia Start Sea, Air Patrols in South China Sea
▼ + stars: | 2023-11-24 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

MANILA (Reuters) - The Philippines and Australia began their first joint sea and air patrols in the South China Sea on Saturday, days after Manila took similar steps with the U.S. as Pacific nations warily eye an increasingly assertive China. China claims almost the entire South China Sea, a conduit for more than $3 trillion of annual ship-borne commerce, including parts claimed by the Philippines, Vietnam, Indonesia, Malaysia and Brunei. The Philippines is ramping up efforts to counter what it describes as China's "aggressive activities" in the South China Sea, which has also become a flashpoint for Chinese and U.S. tensions around naval operations. The Philippines and the United States concluded three-day joint sea and air patrols on Thursday, starting in waters near Taiwan, a democratically governed island that China claims as its own, and ending in the West Philippine Sea. China has accused the Philippines of enlisting "foreign forces" to patrol the South China Sea and stirring up trouble.

Persons: Ferdinand Marcos Jr, China's, Richard Marles, Marcos, Marles, Arsenio Andolong, Karen Lema, William Mallard Organizations: Australia, ., Philippine, Australian Defence Force, Armed Forces, Philippine Department of National Defense, South China, Toowoomba, Cooperative Locations: MANILA, Philippines, South, Manila, China, Australia, Vietnam, Indonesia, Malaysia, Brunei, South China, U.S, West Philippine, Philippine, United, Taiwan, West Philippine Sea

☆ Opinion | The Formidable Rosalynn Carter
▼ + stars: | 2023-11-20 | by ( Jonathan Alter | ) www.nytimes.com time to read: +3 min

Known as the Steel Magnolia, a nickname she liked, Mrs. Carter sparked controversy when she sat in (silently) on cabinet meetings. In 1980, Mrs. Carter thought her husband was “seemingly pompous” in explaining why he wouldn’t make politically expedient decisions. When Mr. Carter rejected that idea out of hand, she helped him reinvent the post-presidency by establishing the Carter Center. When I was at work on my biography, Mrs. Carter shared with me her husband’s letters from sea. Rosalynn Carter kept those letters in a drawer close by until the day she died.

Persons: Carter, ”, “ Rosalynn, Cy ”, Cyrus Vance, ” — Zbigniew Brzezinski, — “, Ham ” — Hamilton Jordan, Hugh Sidey, Carter White, Betty, Dale, “ I’ll, Reagan, Rosalynn Carter Organizations: Carter

☆ China has a sweeping vision to reshape the world — and countries are listening
▼ + stars: | 2023-11-09 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +23 min

All this coincides with longstanding calls from countries across the developing world for an international system where they have more say. Beijing, he added, sees the US as merely “paying lip service” to the “liberal order” to hurt other countries. Sergei Savostyanov/Sputnik/ReutersIn recent years, even some countries that have for decades embraced a close partnership with the US have drawn closer to China and its vision. “Is China really trying to promote multipolarity — or does China just want to (become a) substitute (for) US influence over the world?” he asked. They also raise questions about how a more militarily and economically powerful China would behave globally, if left unchecked.

Persons: Xi Jinping, —, Xi, Vladimir Putin, General Antonio Guterres, ” Xi, , Shen Hong, they’d, ”, Yun Sun, liberalize, Sanjit Das, Shen Dingli, ‘, ’ ”, Russia’s Putin, Bashar al, Assad —, Assad’s, Sergei Savostyanov, Ali Sarwar Naqvi, “ We’ve, James Marape, ’, Rubens Duarte, Li Zhiquan, “, Tong Zhao, Zhao, Ted Aljibe, Luiz Inácio Lula da Silva, Zhang Youxia, Beijing’s, Gilberto Teodoro Jr, BRICS, Weeks, Joe Biden, Sergio Lima, ” — Organizations: Hong Kong CNN, United Nations, Forum, China, Communist, CNN, Beijing, Washington, Getty, Stimson, Bank, World Trade Organization, . Riot, Bloomberg, Initiative, Asian, Global, Sputnik, Reuters, Center for International Strategic Studies, Papua New Guinea, multipolarity, China News Service, Carnegie Endowment, International Peace, Global Security Initiative, NATO, Russia, Philippine Defense, Shanghai Cooperation Organization, United, New, Seven, Ministry, Global Security, Group, UN, Communist Party Locations: China, Hong Kong, Beijing, United States, Ukraine, Gaza, Russian, Xinhua, Washington, South, Taiwan, Tibet, Xinjiang, America, Shanghai, West, Hangzhou, Israel, Pakistan, Pakistani, Islamabad, Papua New, Brazil, Indonesia, Europe, Asia, Scarborough, South China, AFP, Moscow, Russia, “, Saudi Arabia, Iran, Palestine, India, South Africa, Argentina, Egypt, Ethiopia, United Arab Emirates, New Delhi, Southeast Asia, Latin America, Caribbean, ” Beijing

[1/2] The Bank of Israel building is seen in Jerusalem June 16, 2020. Israel's central bank has played its part too with a flurry of support measures, and has stayed away from rate cuts. At the outset of the war, markets were stunned. "The Bank of Israel took very aggressive action," said Gil Moshe, the head of markets at the Israel unit of U.S. bank Citi. Looking to next year, Shmuel Katzavian, a strategist at Israel's Discount Bank, expects the shekel to continue to strengthen.

Persons: Ronen, Israel's, Yaniv Pagot, Amir Yaron, Geoff Yu, Gil Moshe, Pagot, Shmuel Katzavian, Steven Scheer, Marc Jones, Jan Harvey Organizations: Bank of, REUTERS, Rights, Tel Aviv Stock Exchange, Reuters, U.S . Federal Reserve, BNY Mellon, Reuters Graphics, Israel, Citi, Israel's Discount Bank, Thomson Locations: Bank of Israel, Jerusalem, Gaza, Iran, Lebanon, Israel's, Israel, U.S, London

☆ She was a Pan Am flight attendant, he was a pilot. Their inflight meeting sparked a 50-year romance
▼ + stars: | 2023-11-03 | by ( Francesca Street | ) edition.cnn.com time to read: +19 min

CNN —Flight attendant Ilona Zahn was less than impressed when she first met pilot Ian Duncan. Ilona was working the first class cabin on the Pan American Airlines flight from Rome to Tehran, traveling via Beirut and Damascus. It was, says Ilona, “a long, romantic embrace.”When their Pan Am flight returned to Rome, Ian and Ilona spent the evening walking around the city together. When their flights didn’t coincide, they’d leave letters for one another at Intercontinental Hotels frequented by Pan Am crew. Ilona DuncanWhile Ilona was enjoying her romance with Ian, she was also keen to hold onto her independence.

Persons: Ilona Zahn, Ian Duncan, Ilona, Ian, ” Ilona, “, haven’t, Ilona wasn’t, Ilona Duncan Ilona’s, ’, ‘, ”, Rome Here's Ilona, Ilona Duncan, warily, wouldn’t, he’d, –, she’d, who’d, John F, Here's Ian, He’d, They’d, Rome, ’ ”, Iona, Pan, She’d, ” Ian, Ilona weren’t, Richard Burton, Elizabeth Taylor, Sophia Loren, “ Ilona Zahn, Manhattan –, Pan Am, Duncan, Ilona Zahn Ilona, She’s, Ian’s, I’m Organizations: CNN, Pan American Airlines, CNN Travel, Boeing, Pan, Royal Tehran Hilton, John, Kennedy, Intercontinental Hotels, Pan Am, “, Playboy, Airbus, Hotel Metropole Locations: Rome, Tehran, Beirut, Damascus, Tabasco, Worcestershire, ”, Iran, Germany, London , New York, Paris, American, Trevi, New York, Sydney, Australia, London, Tokyo, Kenya, Bermuda, JFK, Pan, New Delhi, Bangkok, Hong Kong, West Hampton, Long Island, Manhattan, Long Island , New York, Las Vegas, Fiji, Samoa, France, China, Virginia, Chesapeake, “, Florida

Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution (373220.KS) said on Wednesday, due to global economic uncertainty. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries.

Persons: Tesla, Aly, Lee Chang, Mary Barra, Elon Musk, Nidec, China's CATL, Ben Klayman, David Gaffen, Eric Onstad, Jonathan Oatis Organizations: REUTERS, Honda, EV, sil, South, LG Energy, General Motors, GM, Investors, Tech, Cox Automotive, European Union, Volkswagen, Fastmarkets, CME, U.S, Ford, EVs, Victoria Waldersee, Thomson Locations: Tesla China, Shanghai, China, KS, United States, Mexico, Detroit, New York, London, Berlin

Israeli forces stand poised to launch a long-promised ground invasion to destroy Hamas, while the U.S. continues its diplomacy blitz to prevent the conflict from widening even as food, water and fuel shortages across Gaza cause a desperate humanitarian situation. It remains unclear, however, whether critical supplies will be allowed back into Gaza and whether the border will open for foreign passport holders. As it stands, the border crossing is closed as the humanitarian crisis worsens for people gathering in southern Gaza – the vast majority women and children. Hospitals in Gaza are expected to run out of generator fuel in the next 24 hours. Over the weekend, Israeli forces and Hezbollah fighters exchanged rocket fire that left at least seven people dead, including four members of Hezbollah.

Persons: Joe Biden, who’s, Benjamin Netanyahu, ” Biden, ” Netanyahu, Biden, Antony Blinken, Blinken, Netanyahu, Matthew Miller, “, ” Miller, Khan Younis Organizations: Israel Defense Forces, United Arab, UN, Associated Press, Lebanon’s Locations: U.S, Gaza, Israel, Colorado, White, Gaza City, Jordan, Qatar, Bahrain, Saudi Arabia, United Arab Emirates, Egypt, China, United States, Rafah, Khan, Lebanon’s Iran, Lebanon

Another conceded that Kennedy could be a real threat to Trump, particularly when it comes to vaccines. They’re less likely to answer the phone for pollsters.”Trump had initially praised Kennedy after he launched his Democratic primary bid. The Biden campaign declined to comment. Third Way, which has been leading the charge against No Labels for Democrats, has had only informal and indirect contact with the Biden campaign and the president’s top advisers. The DNC’s involvement so far has been participating in a couple of video calls Third Way has hosted with groups of state Democratic Party officials, according to Matt Bennett of Third Way.

Persons: Robert F, Kennedy Jr, Joe Biden, Donald Trump, Biden, Trump, Kennedy, Cornel West, Trump Republicans eyeing, “, ” “, ” Trump, Steven Cheung, “ …, Megyn Kelly, ”, They’re, Kennedy’s, we’re, ” Matt Wilhelm, “ I’m, West’s, George W, Ralph Nader, ” Nader, Nader, “ I’ll, Peter Daou, Daou, Vermont Sen, Bernie Sanders, Sanders, Matt Bennett, “ I’ve, I’ve, Virginia Sen, Joe Manchin, Nancy Jacobson Organizations: CNN, GOP, Democratic, Trump Republicans, Voters, Republican National, RFK, White, Trump, Fox News, “ Granite, New Hampshire House, RNC, Democratic National Committee, Biden, West, Green Party, Green, Washington Post, Democratic Party, Greens, Vermont, West’s Green Party, ” Locations: Ukraine, New Hampshire, West, Virginia

☆ Takeaways from Biden's visit to the UAW picketline
▼ + stars: | 2023-09-26 | by ( Kevin Liptak | ) edition.cnn.com time to read: +8 min

Nearly as soon as the United Auto Workers went on strike earlier this month, Biden voiced support for the workers. Wearing a UAW ball-cap and speaking through a bullhorn, Biden’s overt support for the striking workers was a break from his predecessors’ attempts at neutrality. Biden was invited by the UAW to join their picket line, and has spoken out forcefully in favor of the workers. Trump, who is not planning on joining a picket line, will speak instead at a non-union facility. Speaking at the picket line on Tuesday, Fain praised Biden for being the first president to join a picket line.

Persons: Joe Biden, Biden, Donald Trump, Trump, ’, ”, ” Biden, “, picketers, wasn’t, Karine Jean, Pierre, “ I’m, Shawn Fain, Fain, John F, Kennedy, Bill Clinton, Barack Obama Organizations: CNN, United Auto Workers, UAW, Trump, Biden, Michigan, Republican, White, Drake Enterprises, Air Force, Democratic, National Labor Relations Board Locations: autoworkers, Michigan, Detroit, California, Clinton Township , Michigan, Kansas City, Las Vegas

☆ A Shutdown Is Looming. What Comes Next?
▼ + stars: | 2023-09-25 | by ( Zach Montague | More About Zach Montague | ) www.nytimes.com time to read: +1 min

The White House has begun advising federal agencies to prepare for a government shutdown as Republican lawmakers have shown no signs of progress in negotiations to keep the government funded beyond this week. The United States has experienced 21 gaps in government funding since 1976, leading to varying degrees of disruption. Under a worst-case scenario, the White House is warily eyeing a repeat of 2018, the longest and most recent shutdown, which sidelined roughly 800,000 of the federal government’s 2.1 million employees for 34 days. While much remains uncertain about how inevitable a shutdown may be or how long one may last, the broad contours of how it would play out are well-worn territory in Washington, and most agencies have readied plans for working through the tumult. A government shutdown amounts to a suspension of many government operations until Congress acts to restore funding.

Organizations: United Locations: United States, Washington

☆ Stocks churn with the S&P 500 sitting at the same level it was two years ago
▼ + stars: | 2023-09-16 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The S & P 500 has held on to most of its first-half gains and has made a series of higher lows since mid-August. And while 2% is the central-banker ideal, equity markets historically are comfortable with inflation under 4% or so. The equal-weight S & P 500 is about where it was last Thanksgiving and small-cap indexes have been sideways and stuck for a year-and-a-half. Kolovos has been anticipating a "long and winding road to 4800" for the S & P 500, provided it doesn't crack support near 4300 before then. .SPX YTD mountain S & P 500 YTD Such a scenario would then certainly give rise to a vexing "Now what?"

Persons: –, Ron Adler, Morgan, Wall, It's, we've, Ned Davis, Worth, John Kolovos, Kolovos Organizations: Wall, PPI, ECB, Citi, Federal Reserve, Atlanta Fed, Ned Davis Research, Dow Jones Industrial, Nvidia Locations: China, Rosh, Yom Kippur

☆ Dollar firm as markets eye China data
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: +1 min

The dollar was on the front foot in Asia on Friday, retaining overnight gains against peers after strong U.S. economic data and an ECB rate hike, with traders' attention warily turning to a data deluge from China. U.S. retail sales received a boost from higher gasoline prices, increasing 0.6% in August versus an estimated 0.2% rise, while market participants reacted to the European Central Bank's 25-basis point hike. "The data today will be super important," said Rodrigo Catril, senior FX strategist at the National Bank of Australia. The offshore yuan inched further down against the dollar to 7.2918 ahead of the data. "In that sense it means that any disappointment coming out of the data today, we'll likely see the CNY under pressure," with risks to the Aussie and the Kiwi as well, he said.

Persons: Rodrigo Catril, we'll Organizations: Central, U.S, Mizuho Bank, National Bank of Australia, People's Bank of China's, Kiwi Locations: Asia, China . U.S, Thursday's, China

☆ African Leaders Warily Eye Their Generals After Coups Surge
▼ + stars: | 2023-09-12 | by ( Nicholas Bariyo | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: africa

That’s far less than what Instacart fetched in a fund-raising round two years ago. But like Arm, the SoftBank-owned chip designer set to price its own stock offering on Wednesday, Instacart’s shift reflects investor caution as Wall Street slowly warms up to I.P.O.s again. In 2021, the company was valued at a heady $39 billion, as venture capitalists poured money into start-ups, especially those that benefited from stay-at-home pandemic restrictions. But investors had expected it to pursue a valuation as high as $70 billion. (The projected appraisal is higher than the $32 billion that SoftBank paid for Arm in 2016.)

Persons: I.P.O.s Instacart, I.P.O.s Organizations: U.S Locations: I.P.O.s, what’s

☆ An auto strike looks likely. Should I buy a car now?
▼ + stars: | 2023-09-10 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

CNN —If you’re thinking about buying a new car, you might be warily watching news about a possible United Auto Workers strike. It depends on the vehicle you’re shopping for and on your own level of flexibility in that choice. New vehicle inventories are leaner than they’ve been before past strikes, said Pat Ryan, CEO of the car shopping site CoPilot, which closely tracks dealership inventories. So vehicle production at Mexican and Canadian factories could well shut down at some point if a strike drags on. In some ways, you might find this all somewhat similar to car shopping during the era of post-covid vehicle shortages, said Ryan.

Persons: Pat Ryan, —, “ They’ve, ” Ryan, Stellantis, Ryan, that’s, ”, Ivan Drury, Michelle Krebs, Thomas Goldsby, Stellantis’s, GM’s, “, you’re Organizations: CNN, United Auto Workers, Motors, Ford, Toyota, Honda, Hyundai, Chevrolet, GM, Dodge, GMC, Edmunds.com, AutoTrader, Ford Bronco, UAW, University of Tennessee, Factories, Chevrolet Trailblazer, Trax, Auto Locations: American, Mexico, Canada, United States, North America, South Korea, Italy, China

"Chinese manufacturers will adapt vehicles to the European market step by step through user experience and customer orientation," Bosch (ROBG.UL) CEO Stefan Hartung told Reuters at Munich's IAA mobility show. Bosch's Chinese partnerships include developing Advanced Driver Assistance Systems (ADAS) for most of Chinese EV maker BYD's (002594.SZ) cars, electric motors for luxury EV maker Human Horizons and is a supplier for Nio (9866.HK). Chinese EV makers including BYD, Nio, Xpeng (9868.HK) and Leapmotor (9863.HK) are all targeting Europe's EV market, where sales soared nearly 55% to about 820,000 vehicles in the first seven months of 2023, making up about 13% of all car sales. "When we talk to our Chinese customers, there are very concrete plans to build plants in Europe," ZF CEO Holger Klein told Reuters. Continental CEO Nikolai Setzer told Reuters the supplier expects "the Chinese to go global and build plants in Europe."

Persons: Leonhard Simon, Bosch, Stefan Hartung, Hartung, Holger Klein, Nikolai Setzer, Setzer, Nick Carey, Victoria Waldersee, Christina Amann, Zoey Zhang, David Evans Organizations: REUTERS, Rights, Reuters, BYD's, Human, HK, Europe's EV, Jato Dynamics, Friedrichshafen, ZF, Continental, Thomson Locations: Munich, Germany, China, Europe

[1/3] Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019. The services component sank to 48.3 from 50.9, its first time below the 50 mark that separates growth from contraction this year. The single currency weakened after the German data, hitting its lowest level against the dollar since June 15 at $1.0805. "The decline in services activity was a sharp move and we've seen a soft euro environment," said Niels Christensen, chief analyst at Nordea. The spot yuan opened at 7.2870 per dollar on Wednesday and was last changing hands at 7.2899.

Persons: Antonio Bronic, Niels Christensen, Martin Beck, Jerome Powell's, Powell, Nordea's Christensen, Colin Asher, Samuel Indyk, Ankur Banerjee, Kim Coghill, Mark Potter, Chizu Organizations: Croatian National Bank, REUTERS, P, European Central Bank, PMI, Bank of England, Reuters, Federal, Japan's Ministry of Finance, Mizuho, Thomson Locations: Zagreb, Croatia, Britain, July's, U.S, Europe, tenterhooks, Tokyo, London, Singapore

☆ Dollar hovers near two-month high, yen near 146/dlr
▼ + stars: | 2023-08-23 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. The index is up 1.6% in August and is on course to snap its two-month losing streak. The Australian dollar rose 0.40% to $0.645, while the New Zealand dollar rose 0.29% to $0.596. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Florence Lo, Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin, Ankur Banerjee, Christopher Cushing Organizations: U.S, REUTERS, Rights, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand, Thomson Locations: , Wyoming, OCBC, Singapore, U.S, tenterhooks, Tokyo, Japan

☆ Dollar hovers near two-month high, yen near 146 per dollar
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: +3 min

Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. Photo taken on April 20, 2022 shows the Japanese yen and U.S. dollar banknotes in Tokyo, Japan. The U.S. dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair's speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention. The dollar index , which measures the U.S. currency against six rivals, was at 103.55, not far from the two-month high of 103.71 it touched on Tuesday. In cryptocurrencies, bitcoin last rose 0.77% to $26,049, having touched two-month low of $25,350 overnight.

Persons: Christopher Wong, Jerome Powell's, Wong, Thomas Barkin, Saira Malik, Atsushi Takeuchi, Fumio, Takeuchi, bitcoin Organizations: U.S, The U.S, Federal Reserve, Richmond Fed, Nuveen, Bank of, New Zealand Locations: Tokyo, Japan, The, , Wyoming, OCBC, Singapore, U.S, tenterhooks

☆ Nasdaq rallies with Nvidia, tech shares; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) advanced 2.8%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Declining issues outnumbered advancing ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners. The S&P 500 posted 3 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 36 new highs and 214 new lows.

Persons: Jerome Powell, Quincy Krosby, Jackson, Brendan McDermid, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Palo Alto Networks, Dow, Nasdaq, Nvidia, Federal, HSBC, Financial, Treasury, Traders, New York Stock Exchange, REUTERS, Dow Jones, Johnson, VMware, NYSE, Thomson Locations: Wyoming, Charlotte , North Carolina, New York City, U.S, Palo, billings

☆ Nasdaq rallies as Nvidia, tech jump; investors look toward Jackson Hole
▼ + stars: | 2023-08-21 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The technology sector (.SPLRCT) gave the biggest boost to the S&P 500 and Nasdaq, while an index of semiconductors (.SOX) was also up sharply. Nvidia's stock is up more than 200% for the year so far, while the Nasdaq is up nearly 30%. At the same time, she said, investors are anxious to hear Powell's comments at Jackson Hole. According to preliminary data, the S&P 500 (.SPX) gained 30.42 points, or 0.70%, to end at 4,400.13 points, while the Nasdaq Composite (.IXIC) gained 206.65 points, or 1.55%, to 13,497.42.

Persons: Brendan McDermid, Jerome Powell, Quincy Krosby, Jackson, Johnson, Goldman Sachs, Caroline Valetkevitch, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Palo Alto Networks, Nasdaq, Nvidia, Dow, Federal, HSBC, Financial, Treasury, Dow Jones, Johnson, VMware, Thomson Locations: New York City, U.S, Wyoming, Charlotte , North Carolina, Palo, billings

☆ China's growing aggression will be in focus as U.S. closes ranks with Japan and South Korea
▼ + stars: | 2023-08-18 | by ( Sumathi Bala | ) www.cnbc.com time to read: +6 min

President Joe Biden will unveil the measures with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol at Camp David on Friday, said Kurt Campbell, the White House coordinator for Indo-Pacific affairs. Most countries in the region have "deep, profound economic and political interests," and a "steady and stable relationship" with China, Campbell added. watch nowChina has "warned Tokyo and Seoul against pursuing greater trilateral security cooperation with Washington, but its diplomatic pressure is backfiring," they added. "What President Yoon and Prime Minister Kishida have done has defied expectations. In March, Yoon's government announced a landmark agreement over compensation payments for South Korean victims of Japanese wartime forced labor.

Persons: Joe Biden, Fumio Kishida, Yoon Suk, Brendan SMIALOWSKI, BRENDAN SMIALOWSKI, Brendan Smialowski, David, Kurt Campbell, Camp David, Biden, Campbell, Victor Cha, Cha, Wang Wenbin, Beijing Campbell, Rahm Emanuel, Kishida, Yoon, we've, Yoon's Organizations: Japan's, South, Getty, Afp, Biden, Japanese, Center for Strategic, International Studies, Washington, White, CSIS Locations: Hiroshima, AFP, Japan, South Korea, Camp, Washington, Asia, Korea, Ukraine, Beijing, U.S, China, United States, America, America … China, warily, Eurasia, Tokyo, Seoul, South

"What we have seen over the last couple of months is a breathtaking kind of diplomacy, that has been led by courageous leaders in both Japan and South Korea," said Kurt Campbell, Biden's coordinator for Indo-Pacific affairs. CHINA VIEWS SUMMIT WARILYNo specific action by the trio in Camp David is expected to sharply increase tensions with China, though Beijing has warned that U.S. efforts to strengthen ties with South Korea and Japan could "increase tension and confrontation in the region." While South Korea, Japan and the United States want to avoid provoking Beijing, China believes Washington is trying to isolate it diplomatically and encircle it militarily. South Korea has legislative elections next year and Japan must hold one before October 2025, and what analysts see as a still fragile rapprochement between the two nations remains controversial among the countries' voters. The White House, conscious of the electoral clock, wants to make the progress between South Korea and Japan hard to reverse, including by establishing routine cooperation on military exercises, ballistic missile defense, the economy, and scientific and technological research.

Persons: Joe Biden, Fumio Kishida, Yoon Suk, Jonathan Ernst, David, Joe Biden's, Biden, Yoon Suk Yeol, Kurt Campbell, Campbell, Camp David, Donald Trump, Trevor Hunnicutt, David Brunnstrom, Andrea Shalal, Don Durfee, Grant McCool Organizations: Japan’s, Grand Prince Hotel, REUTERS, U.S, South, Biden, Republican, Thomson Locations: Hiroshima, Japan, HAGERSTOWN , Maryland, United States, South Korea, U.S, Seoul, Tokyo, Korean, CHINA, China, Beijing, Washington, North Korea, Russia, South China, Philippines, Philippine, Hagerstown , Maryland

☆ Yen breaks above 145/dlr level in choppy trading, dollar firm
▼ + stars: | 2023-08-14 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly reversing course. Japan intervened in currency markets last September when the dollar rose past 145 yen, which prompted the Ministry of Finance to buy the yen and push the pair back to around 140 yen. With the yen loitering around that level again, traders expect Japanese officials to start warning of intervention soon. While sentiment towards China is down, this week's high-frequency China data may only need a small beat to cause a strong upside reaction in China proxies, said Pepperstone's Head of Research Chris Weston.

Persons: Yen, Dado Ruvic, warily, Chris Weston, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, United, Federal Reserve, Bank of Japan, Ministry of Finance, Saxo Markets, Treasury, Federal, ANZ, Fed, Thomson Locations: SINGAPORE, Japan, United States, China, Singapore

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