Territory

• Approximately 50,000 migrants attempted to enter the Spanish exclave of Ceuta from Morocco this week, resulting in at least 57 deaths. • Spanish authorities reported that the majority of those who attempted the crossing had returned to Morocco by Friday evening. • The surge has prompted EU Commission President Ursula von der Leyen to emphasize the necessity of following entry rules and led French Interior Minister Laurent Nunez to order additional border checks.

Riyadh’s decision to join the US in striking sites associated with the Iran-backed Popular Mobilisation Forces further complicates a chaotic warUS-Saudi strikes on Iran-backed militia in Iraq on Wednesday have pushed the region into “uncharted territory”, analysts have warned.Amid stark warnings of a widening and increasingly “unpredictable” conflict, Riyadh’s decision to publicly join the US in striking sites associated with Iraq’s Popular Mobilisation Forces, killing at least 20 fighters, has added another complicating dimension to the war. Continue reading...

• T-Mobile US stock is trading near record highs as the company focuses on its 2025 earnings guidance and the integration of its UScellular acquisition. • The company's strong market position is currently supported by rising profitability and robust free cash flow generation throughout 2024 and into 2025. • Investors are closely monitoring key performance indicators, including profit margins, customer addition rates, and overall cash flow.

• JPMorgan Chase stock is trading near record highs following strong earnings momentum driven by higher interest income and robust credit quality. • The bank reported a substantial increase in annual net income, bolstered by non-interest revenue from trading, investment banking, and high consumer spending volumes. • This growth is significant as it solidifies JPMorgan's position as one of the most profitable banks globally while allowing for expanded capital returns and buybacks.

• South Korea's KOSPI index exited bear market territory following a 5% jump on Friday, recovering from a 20% decline from its June peak. • Despite recent volatility, the index remains the world's top-performing market with a significant 76% year-to-date gain. • Goldman Sachs maintains a high conviction in the market, raising its 12-month target to 12,000 and forecasting 300% earnings growth by 2026.

Data shows the rightwing party faces an obstacle in the form of urban seats – and the effect of preference flows is harder to predictGet our breaking news email, free app or daily news podcastOne Nation’s spectacular rise from a distant 6% of the vote in the last election to first or second in some recent polls has upended Australian politics. It has also made it a lot harder to predict what exactly will happen at the next election.Traditionally, pollsters and election experts would look at how preferences flowed in previous elections when estimating two-party preferred numbers, or translating polling into seat projections. This was fairly predictable when almost every seat would come down to a contest between Labor and the Coalition. Continue reading...

• South Korea's KOSPI index rebounded nearly 4% in early trading on Thursday, July 9, peaking at 7,539. • This recovery follows a sharp 5.35% plunge on Wednesday that had dropped the index to 7,246.79 and pushed it into bear market territory. • The surge is significant as it lifts the index back above the 20% threshold, effectively escaping the bear market designation.

• The UK stock market opened with gains, with the FTSE 100 edging up 0.07% to 10,485.84 points, while the FTSE 250 and FTSE All-Share also traded in positive territory. • Market growth was primarily driven by strong performance in banking and mining stocks, alongside increased corporate merger and acquisition activity. • Investors are currently balancing these gains against economic headwinds, including the Bank of England's 3.75% interest rate stance and fluctuating commodity prices.

• Chirag Paswan and the Lok Janshakti Party (LJP) are expanding their political footprint from Bihar into Uttar Pradesh. • The party is eyeing all 403 seats in the state, signaling an ambitious growth strategy to increase its influence beyond its traditional stronghold. • This expansion is significant as it may complicate seat-sharing dynamics and create friction within the BJP-led National Democratic Alliance (NDA).

Election will determine balance of power in New Caledonia before fresh negotiations with France on the territory’s statusPolls opened in the French overseas territory of New Caledonia on Sunday for the archipelago’s first provincial elections since 2019, after the vote was delayed as talks stalled over its political future.The election, initially planned for 2024, will determine the balance of power in New Caledonia ahead of fresh negotiations with France on the territory’s status, with independence remaining the defining political issue. Continue reading...

• Allianz CIO Ludovic Subran has warned that SpaceX's move into the bond market signals that private equity valuations may have entered "bubble territory." • Subran notes that debt investors will apply much stricter scrutiny to Elon Musk's rocket company than equity investors, who often overlook risks in high-growth private firms. • This shift is significant because it tests whether SpaceX's ambitious growth projections can be supported by actual cash flows and sustainable debt repayment.

Comments by Israel Katz come after announcement of interim deal between Washington and TehranMiddle East crisis – live updatesIsraeli military forces will not withdraw from a vast swathe of territory they have seized in southern Lebanon, the country’s defence minister has said, hours after Donald Trump and officials in Iran announced a new preliminary agreement between Washington and Tehran to end hostilities on “all fronts” in the Middle East pending a final settlement in about two months.Israel Katz’s remarks were the first official Israeli comments after the announcement of the interim deal. Iranian and US officials are to meet on Friday in Geneva for a signature ceremony, diplomatic sources in Pakistan, the principal mediator, said. Continue reading...

• The Sensex reclaimed the 74,000 mark and rose over 230 points by midday on June 11, 2026, while the Nifty remained above 23,230. • Market recovery was driven by strong buying in private banks and pharma stocks, which offset losses in the IT sector. • This rebound occurs despite severe volatility in US markets, where the Dow Jones fell 1.87% to 49,918.78 and the Nasdaq dropped 1.98% due to Iran-US military escalation.

Mark Rutte says Moscow’s ‘reckless behaviour is a danger to us all’ after drone hit apartments during attack on Ukraine. Plus, Paul McCartney on how old bandmates – and Oasis – inspired his nostalgic new albumGood morning.The Nato secretary general, Mark Rutte, has said the alliance is “ready to defend every inch” of its territory after a Russian drone hit an apartment building in Romania, a member state, during an overnight attack on neighbouring Ukraine.What else is happening? Sweden will donate 16 of its existing Gripen fighter jets by next year to Ukraine, which will go on to buy an initial 20 of the latest model, they announced on Thursday, as Volodymyr Zelenskyy visited an airbase in Uppsala, 70km (45 miles) north of Stockholm.What did Netanyahu say? The Israeli prime minister, who is struggling for his political survival before elections in the next few months, said: “We are currently squeezing Hamas. We now control 60% of the territory in the strip. You know, we were at 50, we moved to 60. My directive is to move to … 70%.” Continue reading...

Kawsar Ahmad, 53, also known as Abbas, and her daughter Zeinab Ahmad, 31, did not apply during brief hearingFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastTwo Australian women charged with slavery offences that allegedly occurred while they lived under Islamic State rule in Syria have faced a Melbourne court.Kawsar Ahmad, 53, also known as Abbas, and her daughter, Zeinab Ahmad, 31, were arrested by officers from the Victorian joint counter-terrorism team at Melbourne airport on Thursday. Continue reading...

• Iran shot down a US F-15E fighter jet over Iranian territory, representing a major battlefield setback in escalating tensions. • President Trump reacted with hours of intense exchanges with aides, reported by The Wall Street Journal as a full meltdown. • The incident underscores growing military confrontations amid collapsing ceasefire and stalled US-Iran diplomacy.

Several shots – including flu and Covid – lost their CDC recommendations under overhauls from the White HouseSeveral shots lost their recommendation from the US Centers for Disease Control and Prevention (CDC) after a judge’s stay against changes wrought by the Trump administration – which may affect access to the shots in some states. And no new vaccine recommendations may be made as long as the vaccines committee is halted.Access to existing vaccines – and the future development of new vaccines – has been increasingly called into question under the second Trump administration, as the now-halted Advisory Committee on Immunization Practices (ACIP) made controversial recommendations and health officials made unilateral changes to routine vaccines, with long-term and global implications. Continue reading...

• US stock markets experienced sharp volatility in March 2026, with equities approaching correction territory before a month-end rally as oil prices surged significantly, driven by geopolitical events shaping the economic outlook. • Energy emerged as the strongest-performing sector, driving value stocks to materially outperform growth peers, while bond markets showed less stability than expected as inflation concerns contributed to higher rate volatility. • Despite market weakness and narrowing leadership, corporate profit expectations remained resilient with consensus earnings forecasts pointing to healthy growth in 2026, suggesting the selloff was driven by valuation reassessment rather than earnings deterioration.

• The Dow Jones Industrial Average and Nasdaq Composite have officially entered correction territory, each falling more than 10% from their recent peaks, signaling sustained market weakness across major indices. • The S&P 500 declined 25.13 points to close at 6,343.72, down 0.4%, while deepening losses to 9.1% below its record set in early 2026; the Nasdaq composite fell 0.7% to 20,794.64. • Wall Street has recorded its fifth consecutive week of losses, driven by rising geopolitical tensions from the US-Iran conflict combined with aggressive Trump administration tariff measures heightening market uncertainty.

• The Dow Jones Industrial Average confirmed correction status on March 28, 2026, falling over 10% from its February 10 record close to 45,166.64. • Twenty-four of 30 Dow components closed negative on Friday, with Nasdaq down 2.2% to 20,948.36 and S&P 500 off 1.7% to 6,368.85. • Geopolitical tensions, surging oil, and inflation fears drove the risk-off sentiment, with sectors like Consumer Discretionary down 3.1%.

A 26-year old man died in a cell in Darwin on Saturday morning, and a 25 year-old man died in a police car on TuesdayGet our breaking news email, free app or daily news podcastA 26-year-old man died at Darwin correctional centre on Saturday, Northern Territory police said.It was the territory’s second reported death in custody in just a matter of days. Continue reading...

• The Nasdaq 100 and Dow Jones Industrial Average have both entered correction territory, defined as a more-than-10% decline from recent peaks, marking a significant milestone in the market downturn. • Tech stocks have been particularly hard hit, with Amazon dropping 3.1% and Meta Platforms falling 3.5%, as the sector faces pressure from both high valuation concerns and geopolitical tensions related to the Iran war. • The S&P 500 has suffered five consecutive weeks of losses—its longest losing streak in nearly four years—and is now 8.7% below its record set in early 2026.

• The tech-heavy Nasdaq and Dow Jones are on the brink of correction territory, defined as a 10% decline from recent peaks, with investors growing concerned the Iran conflict may cause lasting market damage beyond typical episodes. • All three major stock indexes closed Friday with their fourth consecutive weekly loss: the Dow fell 2.1%, Nasdaq dropped 2.1%, and the S&P 500 tumbled 1.9%, according to FactSet data. • The "TACO trade" (Trump Always Chickens Out), where investors bet Trump will reverse course during market selloffs, is looking increasingly suspect as the conflict deepens, with analysts warning that longer-term resolution becomes harder the deeper the conflict progresses.

• The S&P 500 declined 0.84% to 6,551.67 in afternoon trading on Friday with 139 equities advancing and 364 declining across the index, indicating broad-based weakness. • Market rotation continued with only the utilities sector trading in positive territory while all other sectors posted losses amid elevated geopolitical tensions and rising borrowing costs. • Market volatility remains high as investors grapple with competing concerns about inflation stemming from the Iran conflict and the potential impact on Federal Reserve policy decisions.