Important News for Investors
Here are the most important news items that investors need to start their trading day:
1. Safe haven
Bond yields are lower Tuesday morning as investors seek safe haven amid the violence in Israel and the Gaza Strip. The benchmark 10-year Treasury yield was down 12 basis points at 4.659% Tuesday, lifting stock futures. Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq 100 futures all added about 0.2% as Wall Street cheered a break in recent rising interest rates. Follow live market updates.
2. Border siege
Israel says it has regained control of the country’s border along the Gaza Strip, four days after attacks on southern Israel by Palestinian terrorist group Hamas. The Israeli government continues its airstrikes over the enclosed Gaza territory and has ordered the complete stop of water, electricity, and food to the roughly 2.3 million people who live in the impoverished block. The U.N. Relief and Works Agency estimates that displacements across the Gaza Strip have “escalated” in the past 24 hours, affecting more than 187,500 people. Meanwhile, Hamas says it is holding some 150 Israeli hostages, and the death toll from the swift and shocking violence has passed 1,500, according to Israeli and Palestinian health services. Follow live updates from the Israel-Hamas conflict.
3. Peppy report
4. Rinse and re-Peltz
Nelson Peltz, an activist investor, could be about to reignite his proxy battle with Disney. Peltz’s firm, Trian Fund Management, has increased its stake in the entertainment giant to about 30 million shares, making it one of Disney’s largest shareholders. This comes after Peltz dropped an earlier proxy fight eight months ago, in which he pushed for a seat on Disney’s board and advocated for operational changes and cost reductions. This time around, Trian plans to push for multiple board seats, including one for Peltz.
5. Oh, Canada
General Motors is facing a new challenge as Canadian autoworkers join their American counterparts in striking against the automaker. The Unifor union, representing about 18,000 Canadian workers, and GM had until midnight to secure a new labor deal. The failure to do so means another 4,300 auto workers are now on strike, affecting the production of Chevrolet Silverado trucks and engines used in Chevrolet Equinox models, among others.
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