CAR Seeks Russian Energy Support After Security Partnership
During his visit to the Kremlin in Moscow, Central African Republic President Faustin-Archange Touadera asked Vladimir Putin for help in solving the countryβs energy crisis.
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πΊπΈ US FEB. NONFARM PAYROLLS RISE -92K M/M; EST. +70K
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Financial World Updates
The latest US labor market data came in mixed, with job growth sharply missing expectations while wage growth stayed firm.
β Nonfarm Payrolls: -92K vs +59K expected
β Unemployment rate: 4.4% vs 4.3% expected
β Average hourly earnings: +0.4% M/M vs +0.3% expected
β Average hourly earnings: +3.8% Y/Y vs +3.7% expected
Nonfarm Payrolls measure how many jobs were added or lost across the US economy, excluding farming. A negative print signals contraction in hiring.
The unemployment rate rising to 4.4% suggests the labor market is starting to soften, but wage growth remaining strong indicates inflation pressure from salaries is still present.
For markets, weaker employment with still rising wages complicates the Federal Reserveβs outlook on rate cuts.
πͺ t.iss.one/FinancialWorldUpdates
β Nonfarm Payrolls: -92K vs +59K expected
β Unemployment rate: 4.4% vs 4.3% expected
β Average hourly earnings: +0.4% M/M vs +0.3% expected
β Average hourly earnings: +3.8% Y/Y vs +3.7% expected
Nonfarm Payrolls measure how many jobs were added or lost across the US economy, excluding farming. A negative print signals contraction in hiring.
The unemployment rate rising to 4.4% suggests the labor market is starting to soften, but wage growth remaining strong indicates inflation pressure from salaries is still present.
For markets, weaker employment with still rising wages complicates the Federal Reserveβs outlook on rate cuts.
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Trump says "there will be no deal with Iran except unconditional surrender."
US oil prices immediately surge to a 2-year high.
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πΊπΈπ¨πΊ US President Trump says Cuba will fall 'pretty soon.'
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About $800B wiped from U.S. stocks at the open.
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Mastercard introduced βVerifiable Intent,β a new standards-based trust layer developed with Google to provide cryptographic proof of user authorization for AI-driven purchases.
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πΊπΈπ·πΊ Treasury Secretary Bessent says the US may lift sanctions on Russian oil.
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π―π΅ TARIFFS: Japan asked the United States not to disadvantage Tokyo under new tariff rules that could raise duties on Japanese goods to 15%.
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πΊπΈ Average US gas prices rise to $3.45 for the first time since September 2024.
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πΊπΈ US oil prices fall -$15/barrel in under 2 hours, now trading below $104/barrel, on reports that G7 countries are considering releasing 400 million barrels of crude oil reserves.
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If the Strait of Hormuz disruption persists, oil prices could surge toward an inflation-adjusted record near $215 per barrel.
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π°π· Bank of Korea to buy up to 3T Won of government bonds.
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Elon Musk:
"China is rapidly reducing dependence on oil."
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The sharp surge in oil prices following the U.S.βIran conflict is increasing fears of stagflation in the U.S. economy.
Oil has jumped from around $70 to nearly $120 in just a few days β roughly a $50 increase since the last inflation report.
Historically, every $10 rise in oil adds about +0.2% to U.S. inflation and reduces GDP growth by ~0.1%.
With the current CPI at 2.4% and GDP growth at 1.4%, the oil shock could push inflation toward ~3.5%, while economic growth may slow to around 0.8% β a classic stagflation scenario where prices rise while the economy weakens.
This puts the Federal Reserve in a difficult position:
β’ Raise rates β risk slowing the economy further
β’ Cut rates β risk fueling inflation
For now, markets are hoping for a quick de-escalation of the conflict and a drop in oil prices.
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