Market Turbulence and Global Tensions: Key Developments in Politics, Economy, and War

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Movers & Shakers by John Thorpe, Senior Broker

Market turbulence and volatility is here to stay for the foreseeable future as global tensions rise.

Choose your opportunities wisely.

Updated: February 4, 2025 11:19 am

WSJ on Tuesday now reporting President Trump and China’s leader Xi will not speak to each other later today

Updated: February 4, 2025 11:24 am

Bloomberg reported on Tuesday that around 20,000 US federal employees accepted buyout offers. The Washington Post today is reporting layoffs of federal employees is likely if too few of them choose to accept buyouts or quit.

 

Updated: February 4, 2025 2:17 pm

Pres. Trump said he would have talks with his Iranian counterpart, but also said Iran is too close to having and cannot have nuclear weapons

 

Updated: February 4, 2025 2:23 pm

Pres Trump he would like to Palestinians taken in by Egypt and Jordan, adding they have no alternative but to leave. He is not in favor of Israeli’s settling in Gaza

Russia – Ukraine War Update

–Reuters reports Ukraine’s military said on Tuesday its air force had struck a Russian military command post in Russia’s Kursk region the previous day causing sustained significant damage and casualties. Reuters could not independently verify the statement.

–Ukraine’s military has reported numerous strikes on Russian military and energy facilities in recent weeks. Ukrainian forces have been battling Russian troops in the Kursk region since Ukraine mounted a cross border operation there last year.

–A pro-Russian Ukrainian paramilitary leader, Armen Sarkisyan, was killed along with one other person, and three more people were wounded in a bomb blast inside a residential building in northwest Moscow, Russian state news agency TASS reports.

–Russia’s Investigative Committee said it opened a criminal inquiry after the explosion on charges of murder by means injurious to the public, attempted murder of two or more people and arms trafficking.

–Ukrainian forces are believed to be behind a series of assassinations in Russia. In mid-December, Russian General Igor Kirillov died in a remote-controlled blast in Moscow.

–The United Nations echoed Ukraine’s growing concerns that Russia killed 79 captured Ukrainian soldiers in 24 separate incidents since September.

–A former United Kingdom MP, Jack Lopresti, has joined the Ukrainian International Legion to help fight against Russia, media reports said. Lopresti reportedly travelled to Kyiv in November to help a charity.

 

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–Russia’s Ministry of Defense said Moscow’s air defense units intercepted and destroyed 70 drones in a Ukrainian offensive overnight. The ministry said Kyiv had also targeted energy facilities, including an oil refinery in Volgograd which had caught fire.

–Ukraine’s military claimed responsibility for strikes on Russian energy facilities, claiming that it hit a Russian oil refinery in Volgograd and a gas processing plant in Astrakhan. Both establishments supplied fuel to the Russian Army, according to the military.

–State Emergency Service workers of Ukraine work at the site of a rocket strike on a residential building in Poltava

Ukrainian rescuers working at the site of a rocket strike on a residential building in Poltava, where at least seven people died and 17 others, including four children, were injured, on February 1, 2025 [Handout/State Emergency Service of Ukraine via EPA-EFE]

–Kyiv’s Air Force said it destroyed 38 of 71 Russian drones launched at Ukraine in an overnight attack. Some 25 drones disappeared from radars without reaching their targets, the Air Force said.

–According to the Reuters news agency, Moscow also said that it was too early for Russia to consider the four-way peace talks model proposed by Zelenskyy, which would include the US, Ukraine, Russia and the EU. Zelenskyy previously said it would be very dangerous if Washington and Moscow held ceasefire talks without involving Kyiv.

–Russia’s Ministry of Foreign Affairs spokesperson, Maria Zakharova, criticized the Finnish government over the publication of an information package for its citizens who are planning or considering volunteering on Ukraine’s side in the ongoing Russia-Ukraine war.

–US President Donald Trump told reporters in the Oval Office that he is seeking a secure supply of rare earth metals from Ukraine in exchange for US aid.

–Moldova’s Foreign Ministry issued a statement denouncing the invasion of its airspace by a drone and said it was discussing with allies how to boost airspace defense. The statement detailed that the drone entered from Ukraine’s airspace, but did not identify the origin or likely operator of the drone.

Tomorrow: Disney before the open, Qualcomm Earnings after the close! ADP, Balance of Trade, Barkin Speech 8am CST, ISM Svcs., Fed Jefferson Speech 6:30 pm CST

 

Daily Levels for February 5th, 2025

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