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Iranian Foreign Ministry spokesman Bagaei: Information exchanges between Iran and the United States, as well as the activities of mediators, are continuing.July 27th - According to the Financial Times, SpaceXs potential European competitor, The Exploration Company GmbH, is in talks to raise at least $300 million, partly from the EUs "European Scale-Up Fund," which would boost the companys valuation to over $2 billion. Sources familiar with the matter say this still-pending funding round will support the companys development of Europes first reusable spacecraft for transporting cargo to the International Space Station (and planned successors). The companys last funding round was in 2024, raising approximately $160 million with support from the French and German governments. That 2024 funding round also financed the development of its reusable spacecraft, Nyx.According to Al Jazeera: Settlers have stormed into the Samra region in the northern Jordan Valley.On July 27, Brazilian President Lula published an article in The Washington Post criticizing the recent series of tariff pressures imposed on Brazil by the United States. In the article, Lula stated that negotiations between Brazil and the US, along with a ruling by the US Supreme Court, repealed the first version of the tariff policy that began last July. However, this July, the US government decided to impose new tariffs on Brazil ranging from 12.5% to 37.5%. He argued that these new tariffs are not only unfair but also a strategic mistake: they damage the US economy and the partnership with Brazil, and in the medium to long term, will disrupt the currently highly integrated production chains between the two countries, leading Brazilian companies to replace US suppliers with other partners.German government spokesperson: Chancellor Merz will nominate conservative Steffen Bürger as Minister of Transport.

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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