Broad market stocks experienced slight declines during the day, according to Alexander Morris, CEO and Chief Investment Officer of F/M Investments.
He attributed the movements mainly to profit-taking and some concerns over global politics, but noted that the changes were not significant.
Morris added that the VIX index remains low and equities generally continue to show an upward tendency.
Focus on Fed’s Next Moves
Morris also said that the U.S. Federal Reserve is expected to implement two more rate cuts this year.
He emphasised that Fed Chair Jay Powell is aiming to achieve a “perfect landing” to maintain market credibility. Morris noted that Powell’s primary objective is to keep inflation under control while restoring confidence in the Fed.
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The Saudi-led coalition said early Thursday that it intercepted and destroyed a drone over Saudi Arabia’s Eastern Province.
Yemen’s Houthis have claimed responsibility for the recent drone and missile strikes on Saudi Aramco facilities in Dhahran and Riyadh and at King Khalid International Airport in Saudi Arabia, vowing to carry out more attacks in the coming days.
The U.S. has banned government employees working in Saudi Arabia from using airports in the country without special authorisation. It comes after a deadly Houthi strike on Riyadh's King Khalid International Airport killed at least 13 people last week.
Ukraine's soldiers have had their access to Starlink satellite internet restricted. Kyiv's troops use the terminals, made by Elon Musk's SpaceX, to pilot drones. A source in Ukraine's Defence Ministry said the restrictions would make it harder for Kyiv's army to down Russian drones.
Ukraine is set to restart attacks on Russian oil refineries following a two-day pause, President Volodymyr Zelenskyy said, amid growing tensions with Washington over energy strikes and U.S. military support.
U.S. President Donald Trump has lifted sanctions on Russian diesel exports and announced a Russia-Ukraine energy ceasefire aimed at easing fuel prices ahead of November’s midterm elections. But can Moscow deliver and will the move will bring meaningful relief to markets?
Taiwan plans to buy 30 per cent of Alaska LNG's annual output and invest up to $4.4 billion in the project, but binding contracts and financing remain unresolved as the U.S. pushes to expand energy exports to Asia.
Asian stocks plunged to their lowest level in more than two months on Tuesday as advances by Chinese chipmakers rattled investor confidence in the artificial intelligence boom, despite soaring global semiconductor sales.
Artificial intelligence investment is helping sustain global growth at around 3 per cent, with Asia poised to reap major benefits. But soaring energy costs, unequal investment and growing pressure on young workers threaten to leave some economies behind.
Uzbekistan and Russia have a portfolio of more than 200 joint projects worth almost $6 billion, as the two countries continue to expand regional and business ties. The projects were discussed during the third meeting of the Council of Regions of Russia and Uzbekistan, held in Fergana, Uzbekistan.
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