The video-streaming service, owned by Alphabet Inc.'s Google, is one of the few places where Russians can view and discuss images of the war from independent outlets. Russia has restricted domestic access to many other big platforms-including news sites and Facebook-since the conflict began.
Iran, U.S. Close In on Nuclear Deal Text but Hurdles Remain
Negotiations between Iran and the U.S. on reviving the 2015 nuclear deal are close to completion, the European Union's senior negotiator at the talks said Sunday evening, but it remained unclear whether Tehran will accept the final deal.
The text of an agreement could be closed in coming hours, said the EU's Enrique Mora, the coordinator of the talks. However, Iran must still decide whether to set aside its demand that the nuclear deal can only be revived if a multiyear United Nations atomic agency probe into its nuclear program is closed.
Israel, Palestinian Militants Agree to Cease Fire After Three Days of Fighting
JERUSALEM-Israel and Gaza militant group Islamic Jihad agreed to a cease-fire late Sunday after three days of fighting that saw more than 40 Palestinians killed and rockets fly deep into Israel's heartland, in the most intense exchange of fire since an 11-day conflict last year.
The cease-fire, brokered by Egypt and the United Nations, came into effect at 11:30 p.m. local time, Israeli, Palestinian and Egyptian officials said.
Explosions Rock Ukraine's Zaporizhzhia Nuclear Power Plant
ZAPORIZHZHIA, Ukraine-Explosions shook Europe's largest nuclear plant over the weekend, prompting fears that the war could unleash a nuclear catastrophe.
Located in the Russian-occupied city of Enerhodar along the Dnipro river, which divides the Russian and Ukrainian forces in the area, the Zaporizhzhia nuclear power plant is now perilously close to the front lines of the fighting.
GLOBAL NEWS
Wall Street Shuffles Bets on Consumer Loans as Economy Slows
The looming prospect of a recession has Wall Street shifting its bets on which debts Americans will make good on and which could lapse.
Some investors are spurning low-rated bonds backed by pools of consumer loans, preferring safer slices of debt that offer more protection when missed payments mount. Others are steering clear of debt tied disproportionately to people with low credit scores, or demanding higher returns to hold it.
Wood-Pellet Exports Boom Amid Ukraine War, Environmental Concerns
The wood-pellet market is on fire.
War has cut off the supply of compressed-wood pellets from Russia, Belarus and Ukraine to the power plants in Western Europe that burn them instead of coal. That has put a premium on pellets from North America, especially the U.S. South.
China's Export Growth Stays Unexpectedly Robust, Offsetting Broader Weakness
HONG KONG-China's export machine remained surprisingly resilient in July following a strong bounceback from the spring's harsh Covid-19 restrictions, defying again predictions of softening global demand for Chinese-made goods.
Chinese shipments to the rest of the world rose to $332.9 billion in July, China's General Administration of Customs said Sunday, an 18% increase compared with a year earlier. The reading beat a median forecast of 15.6% growth among economists polled by The Wall Street Journal. July's year-over-year growth rate represents an acceleration from the 17.9% pace in June.
Pause in the Storm: U.S.-Stock Funds Rose 8.9% in July
Investors needing a morale boost should just read the "July" column of their 401(k) statement. The rest of the 2022 entries are still too depressing.
Stocks rallied in July, a respite after months of declines. The average U.S.-stock mutual fund or exchange-traded fund rose 8.9% in the month, according to Refinitiv Lipper data. But for 2022 so far, through July, the funds are still down 14.4%. (Market indexes are little changed for August so far.)
Investors Brace for More Market Volatility as Earnings Estimates Slump
Corporate-earnings expectations are falling. That means the stock market is again at risk of appearing expensive, even after this year's tumble.
Wall Street often uses the ratio of a company's share price to its earnings as a gauge for whether a stock appears cheap or overpriced. By that metric, the market as a whole had been especially pricey for much of the past two years when easy monetary policy propelled major stock indexes to dozens of new highs.
Fed's Michelle Bowman Says Large Interest-Rate Rises Could Continue
A Federal Reserve official said the U.S. central bank could follow two consecutive 0.75-percentage-point rate rises this summer with a third such increase at its meeting next month.
Fed governor Michelle Bowman said she strongly supported the Fed's 0.75-percentage-point rate increase last month and "similarly-sized increases should be on the table until we see inflation declining in a consistent, meaningful and lasting way."
What CEOs Are Saying: 'My Guess Is That We Are Past Peak Inflation'
Here is what some of the world's corporate leaders said this week about the economy, supply chains, consumer spending and the movies, among other topics.
Starbucks Corp. Interim Chief Executive Howard Schultz:
Explosions Rock Ukraine's Zaporizhzhia Nuclear Power Plant
ZAPORIZHZHIA, Ukraine-Explosions shook Europe's largest nuclear plant over the weekend, prompting fears that the war could unleash a nuclear catastrophe.
Located in the Russian-occupied city of Enerhodar along the Dnipro river, which divides the Russian and Ukrainian forces in the area, the Zaporizhzhia nuclear power plant is now perilously close to the front lines of the fighting.
Write to nihad.ahmed@wsj.com.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
08-08-22 0658ET
