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Google (GOOG.O): Gemini Spark is rolling out to Google AI Pro users outside the United States.August 1st - According to CBS News, citing multiple sources, the United States and Israel are planning "one of the most intense bombing campaigns to date" against Iranian energy infrastructure, potentially targeting power plants and oil refineries, with the operation possibly lasting throughout the weekend. Sources say Israel has been notified and is coordinating with the US, but Trump has not yet issued final approval. The report notes that the plan was proposed at Trumps cabinet meeting at Camp David on Friday, and some White House political aides strongly opposed it, fearing the operation could impact the US and global economy. Trump stated, "Were going to hit them very hard." The US has also discussed cutting off Tehrans power supply, but no decision has been made. Previously, Trump stated that for every attack on ships in the Strait of Hormuz, the US would bomb an Iranian bridge or power plant. If this operation is carried out, it would mean Israel has resumed military operations that were previously suspended due to a US-mediated ceasefire.August 1st - According to Irans Tasnim News Agency, the Houthi rebels in Yemen stated that, in order to implement their strategy of "blockade against blockade," eight Saudi oil tankers have been forced to change course and circle the Cape of Good Hope after maritime restrictions were imposed on them. The Houthis stated that the blockade against Saudi Arabia will continue and warned that they will take action against relevant vessels within their capabilities. The Houthis also stated that they will continue to push for the lifting of the blockade on Yemen and to protect their own interests.The U.S. military stated that as of July 31, Central Command had altered the routes of 30 merchant ships, rendered two ships inoperable, and boarded and inspected two more.August 1st - According to the New York Times, Federal Reserve Chairman Warsh is reportedly considering reducing the number of the Feds regular interest rate decision meetings. This move could cause a major upheaval and mark the most significant change in the Feds operations in recent years. Currently, the Feds 12-member Federal Open Market Committee (FOMC) meets eight times a year to vote on whether to raise, lower, or maintain borrowing costs. According to four sources familiar with the matter, Warsh proposed adjusting the meeting frequency at this weeks Fed meeting. These sources also revealed that at this weeks meeting, Warsh discussed the legal basis for the minimum number of meetings the Fed must hold annually, and the timeline for such adjustments. Reportedly, Warsh requested that officials provide feedback to him, rather than having a comprehensive discussion of the meeting schedule at this weeks meeting.

Asian Stocks Rise; China Plans to Relax COVID Measures; However, Concerns Remain

Aria Thomas

May 30, 2022 11:21

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China's relaxing of several COVID-19 restrictive measures and U.S. markets' greatest week since November 2020 before Monday's Memorial Day weekend sent Asia Pacific stocks higher on Monday morning.


The Nikkei 225 gained 2% by 10:24 p.m. ET (2:24 a.m. GMT), while the KOSPI gained 1.27 percent.


The S&P/ASX 200 increased 0.91 percent in Australia.


Hong Kong's Hang Seng Index rose 2.19 percent .


The Shanghai Composite rose 0.55 percent, while the Shenzhen Component rose 0.04 percent.


Both the S&P 500 and Nasdaq 100 contracts were higher, a possible indication that the rebound could continue. As institutional investors rebalance their portfolios in anticipation for the end of the month, the S&P 500 erased its May losses and ended a streak of seven straight weekly losses.


As the European Union (EU) failed to agree on a revised package of Russian sanctions in response to Russia's invasion of Ukraine on February 24, the dollar remained stable while the euro fluctuate. The U.S. holiday prevents the trading of cash Treasuries in Asia.


China recorded fewer cases of COVID-19 in both Beijing and Shanghai, encouraging the government to relax some restrictions in an effort to stimulate the economy.


After one of the worst starts to the year for global markets, the key question for investors is whether the bottom of the recent selloff is near. Investors have been buying the dip. Concerns continue, however, regarding stricter monetary policies from central banks, growing food inflation resulting from the conflict in Ukraine, and China's COVID-19 measures.


Bloomberg quoted Citigroup (NYSE:C) Australia head of investment experts Maheebeen Zaman as saying, "We are in the midst of a bear market rally."


Treasury yields are expected to peak in 2022, according to Zaman. "I believe the market will trade in a narrow range as investors try to determine how soon the next recession will arrive and how rapidly inflation will decline," he added.


As of Wednesday, the Fed will also begin reducing its $8.9 trillion balance sheet and will also print its Beige Book assessment on regional economic conditions. Presidents John Williams of the New York Fed and James Bullard of the St. Louis Fed will both speak at separate events on Wednesday, with President Loretta Mester of the Cleveland Fed discussing the economic outlook the next day.


Friday, the United States will release its May employment report, including non-farm payrolls. Tuesday will see the release of the Eurozone consumer price index, as well as China's manufacturing and non-manufacturing purchasing managers indexes.


Later in the day, EU leaders will convene in Brussels for a two-day extraordinary conference to discuss the war in Ukraine, defense, inflation, energy, and food security. The Food and Agriculture Organization of the United Nations will also release its monthly food price index on Friday, just as global supply concerns reach their peak.

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