Yen Enters Seasonally Strong Month With Help From Weak Dollar
This may embolden investors who drove Japan's currency 9% higher over the past six months as the global trade war and Donald Trump's push for lower US interest rates weighed on the dollar. The yen has climbed in every July back to 2020, averaging a gain of 2.8% against the dollar, making it the strongest month during that period.
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Forbes
30 minutes ago
- Forbes
China + Trump's Abraham Accords Remake Middle Eastern Energy
The signing of the Abraham Accords during the first term of President Donald Trump marked a turning ... More point in America's Middle Eastern Policy as well as regional prospects. U.S. President Donald Trump's teasing about the possibility of more countries joining the Abraham Accords is one of the most important and least appreciated developments from the US-Israeli-Iranian war. While Cassandras prophesied destabilization of the Middle East, the expansion of the accords would lead to a less radical and more stable political environment and increased energy availability worldwide. There may be a welcome change in the global balance of power, as China and Russia recognize that the United States is not is a fitting result, since Iran supported the October 7th, 2023 Hamas attack on Israel to derail the Abraham Accords, more specifically, to prevent Saudi Arabia from coming on board. The Abraham Accords, the first Trump administration's most significant foreign policy accomplishments, sought to normalize relations between Israel and various Muslim-majority states. In doing so, it was hoped that outside influence and economic ties could slowly unravel the Gordian Knot that is Israeli-Palestinian relations and cool tensions. Iran's disruption of this process was both ideological and strategic, in escalation of its hegemonic ambitions and its 'ring of fire' strategy, designed to surround and attack Israel through numerous proxies, an approach which would be threatened by Trump's one believes a broken clock tells time twice a day, or the result was due to great strategic insight, Trump seems to have succeeded in his 'splendid little war'. Iran's nuclear and military capacity has been reduced, its network of proxies largely smashed, the friendly Assad regime in Syria gone, a quagmire resulting from regime change in Tehran avoided. The global economy dodged recession because the Strait of Hormuz was not closed, possibly with the assistance of China. America's position, both geopolitically and in the energy sector, has been strengthened following the strikes on Iran, to wit Brent oil prices hovering at a healthy $67 a barrel at the time of this writing. While doubts about the success of attacks against Iran's nuclear capabilities persist, and confusion about the feasibility of Iran's nuclear ambitions endures, there is less doubt about the results for Iran's patrons and Accords ExpandThe expansion of the Abraham Accords is the most likely immediate result of Iran's humiliation, and it heralds the erosion of Iranian power. One obvious candidate for expansion, in both my estimation and per the Israeli media, is Azerbaijan, a majority Shi'a Muslim secular state that already has an exemplary relationship with Israel, making it the perfect antithesis to Iran. Should Azerbaijan join the Accords, the European energy market would be the most significant immediate beneficiary, since Azeri energy could flow westwards without its existing cooperation with Israel acting as a Iran, being unable to confront Israel and the U.S., is picking a fight with Azerbaijan, spreading deepfakes and threats to 'retaliate' for Baku's alleged assistance to Jerusalem during the war. Azerbaijan's ascension to the Abraham Accords will prevent Iran from aggressive moves towards its independent neighbor, thus actively denying Tehran's strife to control the energy-rich Caucasus are other promising candidates for the Abraham Accords. Syria, assuming it opts to join, would serve as a dramatic example of a nation's ability to exit the Axis of Evil camp and embark on a path toward development. It would be a powerful way for Syria's President Ahmed al-Shaara to demonstrate that his claims of being a changed man in charge of a changing country are not simply rhetoric. Doing so would also allow the economic development of Syria's underutilized energy resources. It must be noted that Azerbaijan played an active role in facilitating talks between Turkey and Israel over the regime change in Asian states, including Kazakhstan and Turkmenistan, which, like Azerbaijan, are largely secular majority Muslim countries with good relations with Israel, could also make excellent additions. They are, by and large, energy-exporting states dependent on commodity revenues. Hooking them into an emerging geoeconomic framework under the auspices of the Abraham Accords could economically help reinforce these states against encroaching Russian and Chinese influence, while simultaneously boosting development and ties to the amicable relations between Iran and China are paradoxically increasingly strained as the ... More relationship deepens. China's Pivot & The Abraham AccordsIn Tehran's hour of need, the 'Axis of Upheaval' folded under American pressure. Russia, bogged down in Ukraine, refused to act. Beijing could have credibly supported Iran in defense of its strategic partnership. Instead, China opted for low energy prices amid fears that further escalation would damage its economy. Now, in the aftermath of Trump's victory and China's difficult decision, the Middle East is in flux, and Beijing has both hard choices and opportunities ahead of abandonment of Iran at the first inconvenience isn't a total loss. While this action may convince some that China is a paper tiger, for others, especially Iran's Arab rivals, it is seen as a sign of prudence. China is far more reliant on Arab states for energy than it is on Iran. Furthermore, Beijing's only hope of expanding engagement with the Middle East now lies with the Arab states; and the Arab states, which are increasingly likely to join the Abraham Accords, are the key for China to normalize contacts with the region and sidestep Iranian aspirants to the accords, China already has close relations with Central Asian states and expressed an interest in investing in Syria. In Azerbaijan, China maintains a pragmatic, growing strategic partnership rooted in energy, infrastructure, and regional connectivity. Thus, China may even find strategic utility in supporting the Accords, not just for its Middle Eastern objectives, but also to mitigate against the controversies concerning Beijing's repression of the Muslim Uyghurs in China's Xinjiang Abraham Accords now transcend mere peacekeeping in the Middle East. They may become a coalition of nations with which the United States can reliably deal. Within this framework, Israel is a capstone asset. Still, also a litmus test: a Muslim country's ability to maintain harmonious relations with Israel is seen as indicative of its potential for constructive engagement with America. This strategic vision positions the Abraham Accords as a cornerstone of U.S. foreign policy, leveraging Israel's role to foster a network of allied states, thereby enhancing American influence and energy security on the global stage. Ironically, this strategic vision is more recognized in Beijing and Tehran than in Washington, D.C.
CNBC
31 minutes ago
- CNBC
Stocks making the biggest moves midday: Tesla, Tandem Diabetes, GE Vernova, Hasbro & more
Check out the companies making the biggest moves midday: Diabetes tech stocks — The Centers for Medicare & Medicaid Services is proposing a rule change that could change the reimbursement rates for continuous glucose monitors and insulin pumps. The news sent shares of diabetes tech stocks lower. Tandem Diabetes Care and Beta Bionics tumbled 4% and 6%, respectively, while Dexcom shares shed nearly 4%. Insulet shares were also down 4%. Progress Software — The business application software maker tumbled 11% after reporting mixed second-quarter results. Revenue came in at $237.4 million, shy of the $237.5 million consensus estimate, per FactSet. Its adjusted earnings were $1.40 per share, above the $1.30 a share expected from analysts. GE Vernova — The energy equipment maker's stock fell 7% on the heels of a report that the company was considering a potential sale of Proficy, its industrial software business. GE Vernova is working with financial advisors and reaching out to publicly traded companies and private equity firms, Bloomberg reported , citing people familiar with the matter. Tesla — The electric vehicle maker lost 5% after President Donald Trump suggested that the U.S. Department of Government Efficiency look at subsidies for Tesla CEO Elon Musk 's companies for potential cost-cutting measures. Trump's comments came after Musk again criticized the president's tax-and-spending bill . AeroVironment — Shares dropped nearly 8% after the defense contractor announced proposed offerings of $750 million in common stock and $600 million in convertible senior notes due 2030. Hasbro — The toymaker added 5% following an upgrade to buy from neutral at Goldman Sachs. The bank said that new sets from Magic: The Gathering could help boost Hasbro's sales. Kontoor Brands — Shares jumped 7% after Goldman Sachs added the apparel company to its conviction list. Goldman said Kontoor's acquisition of Helly Hansen should boost the Wrangler parent's portfolio. Hyatt Hotels — The stock gained almost 5% after Raymond James upgraded the hotel chain to a strong buy from market perform. As a catalyst for the upgrade, the bank pointed to Hyatt's Monday announcement that it had entered an agreement to sell the entirety of its Playa-owned real estate , removing a "significant overhang." Wynn Resorts , Las Vegas Sands — Casino stocks rallied after Macau reported strong gaming demand, with gross gaming revenues jumping 19% on a year-over-year basis to 21.06 billion patacas. Following the release of the data, Stifel analyst Steven M. Wieczynski said: "We continue to believe Macau-centric stocks present investors with an interesting way to play the China recovery story that should eventually play out. While the exact recovery timeline around Macau remains an unknown (for several reasons), we continue to believe in the long-term resiliency of the market and believe it's a matter of when, not if, the market returns to normal/accelerated levels." Shares of Wynn Resorts and Las Vegas Sands both rose 8%. Sweetgreen — Shares slid 3% after TD Cowen downgraded Sweetgreen to hold from buy. The firm said it likes Sweetgreen's long-term prospects but said there are risks to the salad chain this year and next given rising competition in urban areas. Joby Aviation — Shares of the electric aviation company dropped 8%, giving back most of Monday's advance. The stock rallied more than 11% in the previous session after the company delivered its first flying taxi to the United Arab Emirates ahead of a planned 2026 service launch. Bloomin' Brands — The parent company of Outback Steakhouse and Carrabba's Italian Grill rallied 16%. Bloomin' Brands was coming off a six-day losing streak. Circle Internet Group — The stablecoin issuer added nearly 1% after submitting a bank charter application to the Office of the Comptroller of the Currency. If the bank charter is granted, Circle plans to establish the First National Digital Currency Bank and offer blockchain-related custody services. — CNBC's Sarah Min, Michelle Fox, Christina Cheddar-Berk and Alex Harring contributed reporting.
The Onion
33 minutes ago
- The Onion
Peter Thiel Shows Trump How To Sort Spreadsheet Of Americans By Ethnicity
WASHINGTON—Stressing that it would be simplest to troubleshoot now during the onboarding process for his company's surveillance technology, Palantir founder Peter Thiel reportedly spent Tuesday morning showing President Donald Trump how to sort a spreadsheet of Americans by ethnicity. 'So what's neat is that you can just do command-shift-E and rank every single resident from whitest to least,' said the billionaire libertarian, leaning over the commander-in-chief's shoulder and demonstrating how simple it was to use a drop-down menu to search for undesirable ethnic characteristics among the more than 340 million names on display. 'Nope, that's religion, Mr. President. You want to be over in column E. I went ahead and separated the Jews from the regular Caucasians for you. Oh, sure, I guess you can call them that if you want. That's what the label section is for.' At press time, reports confirmed a flustered Thiel was attempting to answer the president's question on whether deleting a person from the spreadsheet would also delete them in real life.
