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Tariff Tensions Rattle Wall Street Ahead of Earnings and Inflation Data

Wall Street futures dipped Monday morning as investors braced for a volatile week marked by fresh tariff threats and a flood of economic data. President Donald Trump’s announcement of a 30% tariff on imports from the European Union and Mexico , set to begin August 1, sent ripples through global markets. Major U.S. index futures— Dow, S&P 500, and Nasdaq —were all down roughly 0.3% in premarket trading. While the EU signaled a willingness to negotiate, the looming deadline has heightened uncertainty. Analysts suggest the market’s muted reaction reflects a growing belief that such threats are part of Trump’s negotiation strategy. This week’s economic calendar is packed, with June’s Consumer Price Index (CPI)  report due Tuesday, followed by wholesale inflation, retail sales, and industrial production data. These figures will be closely watched for signs of how tariffs may be influencing inflation and consumer behavior. Meanwhile, second-quarter earnings season kicks off , with ma...
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Erdogan’s Bold Threat: Turkey’s Potential Military Intervention in Israel

 

In a recent and highly provocative statement, Turkish President Recep Tayyip Erdogan has suggested that Turkey might intervene militarily in Israel to support the Palestinians. This declaration was made during a party meeting in Rize, where Erdogan drew parallels to Turkey’s past interventions in Nagorno-Karabakh and Libya.

Erdogan emphasized the need for Turkey to be strong to prevent Israel from continuing its actions against the Palestinians. He stated, "Just as we entered [Nagorno-]Karabakh, just as we entered Libya, we might do the same to them. There is nothing we can’t do. We must only be strong.

This rhetoric has sparked significant concern and backlash. Israeli Foreign Minister Israel Katz compared Erdogan to the late Iraqi dictator Saddam Hussein, highlighting the potential for severe geopolitical repercussions. The Turkish leader’s comments come amid ongoing conflict between Israel and Hamas in Gaza, further escalating tensions in the region.

Erdogan’s statements have been met with mixed reactions globally, with many fearing the implications of such a move by a NATO member. The international community watches closely as the situation develops, hoping for a peaceful resolution to the escalating conflict.


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