Newsletter Jul 18, 2023

Quick Six

Biden agrees to host Netanyahu amid US-Israeli tensions
President Joe Biden agreed Monday to meet with Israeli Prime Minister Benjamin Netanyahu this year in the US but declined, amid months of tension, to specify if this would be at the White House. The offer of a meeting, made on the eve of a White House visit Tuesday by Israeli President Isaac Herzog, marks an easing of tensions between Biden and a leader he recently described as heading "one of the most extremist" coalitions in half a century.
SEE THE ISSUES TO BE ADDRESSED BY US AND ISRAEL

China's economy grows in Q2 but recovery problems persist
China's economy grew 6.3% year-on-year in the second quarter of 2023, official data showed Monday, despite a patchy post-Covid rebound in recent months. Additional data showed its post-pandemic recovery petering out, likely boosting calls for greater economic stimulus. Unemployment among Chinese youths rose to a record 21.3% in June, up from 20.8% in May, the data said.
WHAT DOES THE DATA SAYS ABOUT CHINA'S RECOVERY?

Why Wall Street has cooled off to banking sector shares
Big U.S. banks had a great second quarter of 2023, but Wall Street doesn't seem impressed enough to commit new money to the sector. The cooling of Wall Street sentiment toward banking shares could be just profit-taking. But it could reflect concerns among bank leaders over the future headwinds the sector faces.
FIND OUT THE FACTORS IMPACTING THE BANKING SECTOR

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Markets

DJIA	34,585.35	0.22%
S&P 500	4,522.79	0.39%
Nasdaq Composite	14,244.95	0.93%
Japan: Nikkei 225	32,391.26	-0.09%
UK: FTSE 100	7,406.42	-0.38%
Crude Oil Futures	74.10	-0.07%
Gold Futures	1,958.70	0.12%
Yen	138.70	-0.01%
Euro	1.12	-0.01%
* As of market close

Russia ends grain deal, creates food crisis

The Kremlin on Monday said it was exiting a major agreement to facilitate Ukraine grain exports hours after drones struck the only bridge connecting Russia's mainland to the annexed Crimea peninsula. The collapse of the Black Sea export corridor, which allowed the export of more than 32 million tonnes of Ukrainian grain over the past year, could over the medium term create market tension and hike food prices.

WHAT UN CHIEF SAID ABOUT THE GLOBAL FOOD SHORTAGES

Australia to vote on voice for First Peoples

Australia's indigenous population may at long last see representation in the country's government. Australia's Senate and House passed a bill to amend the constitution to recognize the First Peoples of Australia, giving indigenous citizens representation in Parliament and the Executive Government of the Commonwealth. However, passage requires a referendum vote to approve any changes to the constitution.

HOW INDIGENOUS REPRESENTATION COULD ALTER AUSTRALIA

Did Trump tip hand about potential VP pick?

Former President Donald Trump may have hinted at a potential running mate if he wins the Republican Party's 2024 presidential nomination. During an appearance on Fox News, the GOP frontrunner said he is eyeing one particular primary rival as a potential pick for vice president, but no name was given. Trump said he believes several of his primary opponents for the nomination are "talented," including Sen. Tim Scott.

SEE SCOTT'S REACTION TO A POSSIBLE TICKET WITH TRUMP

Extra point

Who are the only two vice presidents in US history to resign from office?

Monday's answer: Martina Navratilova has the most Wimbledon singles championships with nine. Roger Federer leads the men with eight.

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