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Ukraine Deploys Elite Forces to Defend Strategic Hub of Pokrovsk

  FILE PHOTO: Ukrainian service members of the 33rd Separate Mechanised Brigade practice firing an anti-tank guided missile weapon system MILAN as they attend a military drill near a frontline, amid Russia's attack on Ukraine, in Donetsk region, Ukraine June 13, 2024. Ukraine has launched a daring operation to reinforce its defenses in the embattled eastern city of Pokrovsk , deploying special forces by helicopter earlier this week, according to Ukrainian military sources. The move comes as Russian forces intensify their push into Donetsk, with Moscow claiming to have surrounded Ukrainian troops in the area. Pokrovsk, a vital road and rail hub , has become a focal point of the conflict, as its capture could open the way for deeper Russian advances into the Donbas region. A video circulating online appears to show at least 10 Ukrainian servicemen disembarking from a Black Hawk helicopter in an open field near the contested city. The operation was reportedly overseen by Kyrylo B...
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Wall Street Eyes Labor Market Data and Powell’s Testimony

 

Wall Street drifted modestly lower before the opening bell on Monday, with investors focusing their attention on a trove of labor market data and Federal Reserve Chair Jerome Powell’s upcoming appearances before Congress.

Here are the key points driving today’s market sentiment:

  1. Labor Market Data: This week, investors eagerly await several labor market reports. On Wednesday, the job openings and labor turnover report will provide insights into employment trends. Additionally, the more comprehensive February jobs report, due on Friday, will shed light on the health of the U.S. job market.

  2. Powell’s Testimony: Federal Reserve Chair Jerome Powell is set to make his semi-annual appearance before the House on Wednesday, followed by testimony to the Senate on Thursday. Investors will closely monitor his remarks for any signals regarding the timing of a highly-anticipated round of interest rate cuts. The Fed has already raised its main interest rate to the highest level since 2001 in an effort to combat surging inflation following the COVID-19 recession of 2020. Powell’s statements may provide clarity on whether further rate cuts are imminent.

  3. Inflation and Economic Strength: Despite the Fed’s hawkish stance, unexpectedly strong economic data has pushed back market expectations for rate cuts from March to June. The central bank’s decision will likely hinge on inflation trends. If inflation continues to retreat toward the Fed’s 2% target, rate cuts may be on the horizon.

  4. Market Reaction: Futures for the S&P 500 slipped 0.1% before the bell, while futures for the Dow Jones Industrial Average lost 0.3%. Investors remain cautious as they await Powell’s insights and assess the impact of labor market developments.

In summary, Wall Street’s attention is squarely on labor market indicators and Powell’s testimony this week. As the economy continues to recover, investors are keenly watching for signals that could shape monetary policy decisions in the coming months.


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