Last week, when the Pentagon resumed its attacks on small boats in the Caribbean and eastern Pacific Ocean, the media barely noticed.
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MARKET OVERVIEW
The NASDAQ and Standard & Poor’s 500 index both closed last week at new record levels after also setting new intraday highs, with share prices rising on strong earnings, especially by tech companies, that reassured investors that the businesses could manage their massive AI expenses.
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ISRAEL METHODICALLY DESTROYS ENTIRE TOWNS IN LEBANON
The Israeli military has methodically laid waste to towns in southern Lebanon in what Tel Aviv has said has been an effort to snuff out Hezbollah strongholds in the region, identified as part of a bigger plan for permanent occupation.
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HEGSETH SAYS U.S. PREPARED TO ESCALATE WAR WITH IRAN AFTER TEHRAN ISSUES ITS OWN THREAT
Pete Hegseth, the secretary of War, told a congressional hearing on Tuesday that the U.S. is prepared to escalate the Iran War as both sides are deadlocked and the Strait of Hormuz is still essentially closed for business.
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TRUMP: CEASEFIRE WITH IRAN ‘ON LIFE SUPPORT’ AFTER TEHRAN’S PROPOSAL TO END WAR
President Donald Trump said Monday that the ceasefire with Iran that began on 8 April was hanging in the balance after Iran’s response to a U.S. proposal to end the war, telling reporters that the deal is “on life support.”
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SPECIAL REPORT: THE U.S. IS NOW AN AI ECONOMY
The U.S. economy grew by 2 percent in this year’s first quarter, missing economists’ expectations of a 2.2-percent bump in a Wall Street Journal survey.
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TOP TREND 2026: DOT-COM BUST 2.0
As we had forecast, one of our Top Trends for 2026 is Dot-Com Bust 2.0, and now that reality is finally hitting The Street. Indeed, as we go to press, this is a top headline article in CNBC: Bulls and bears both believe this could be 1999 all over again.
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MORTGAGE RATES ARE CREEPING HIGHER AGAIN
The U.S. average national interest rate on a 30-year, fixed-rate mortgage reached 6.37 percent during the week ending 8 May, rising from 6.30 percent the week before, according to the Federal Home Loan Mortgage Corp.