World
Asian stocks are mixed after Wall Street's best week of the year
Asian stocks were mixed Monday as investors ponder the upcoming meeting of the Federal Reserve, following Wall Street’s best week since November with a slight uptick in U.S. stocks Friday.
U.S. futures were higher while oil prices dropped.
Japan’s benchmark index fluctuated in morning trading. The Nikkei 225 shed 15.50 points to 38,047.17 after data showed the core machinery orders, which are used as a leading indicator of capital spending in the coming six to nine months, fell 1.7% year on year in June.
The U.S. dollar fell to 146.44 Japanese yen from 147.58 yen.
Last week, better-than-expected U.S. retail sales figures boosted market confidence and shifted sentiment regarding potential interest rate cuts by the Federal Reserve in September, which could trigger a sell-off of the yen against the dollar and other major currencies. But still, the dollar-yen exchange rate has been on a downward trend over the past weeks.
“The recent turmoil in the foreign exchange market isn’t just about the Bank of Japan’s actions … other factors, like signals from the Federal Reserve about possible rate cuts, weak U.S. job market data, and broader global economic uncertainties, have also contributed to the recent turbulence,” Luca Santos, currency analyst at ACY Securities, said in a commentary.
The market’s focus is on Jackson Hole, Wyoming, where Federal Reserve Chair Jerome Powell will give a speech late in the week and the setting has been home to big policy announcements in the past.
Because the Fed has said its upcoming moves will depend in large part on what data reports at the time say, “it will be difficult for Powell to pre-commit to a particular trajectory at Jackson Hole,” said economists at Deutsche Bank led by Matthew Luzzetti.
But Powell could offer hints about whether the Fed is hoping to merely remove the brakes from the economy through rate cuts or give it an accelerant.
Elsewhere in Asia, Australia’s S&P/ASX 200 rose 0.2% to 7,988.00 and the Kospi in Seoul lost 0.2% to 2,690.83. Hong Kong’s Hang Seng added 1% to 17,611.77, while the Shanghai Composite was up 0.5% to 2,894.57.
Bangkok’s SET increased 0.8% after data showed the country’s gross domestic product in the second quarter increased 2.3% compared to a year earlier, driven by tourism.
On Friday, the S&P 500 rose 0.2% to 5,554.25 for a seventh straight gain and pulled back within 2% of its all-time high set last month. The Dow Jones Industrial Average gained 0.2% to 40,659.76, and the Nasdaq composite added 0.2% to 17,631.72.
Treasury yields eased in the bond market following mixed reports on the U.S. economy. One showed homebuilders broke ground on fewer projects last month than forecast, which threw some cold water on the market. Optimism had been rising earlier in the week following a flurry of better-than-expected reports on everything from inflation to sales at U.S. retailers.
But a report later in the morning suggested U.S. consumers are feeling better about the economy than expected. That’s a big deal for Wall Street because their spending makes up the bulk of the economy.
Even though confidence rose in the economy’s strength following the strong run of reports, it is still likely slowing under the weight of high interest rates.
The question is whether the slowdown in growth will overshoot and become a recession. The hope on Wall Street is that an expected cut to interest rates at the Fed’s next meeting in September will help forestall that.
In the bond market, the yield on the 10-year Treasury fell to 3.88% from 3.92% late Thursday. The two-year yield, which more closely tracks expectations for Fed action, fell to 4.05% from 4.10% late Thursday.
In energy trading, benchmark U.S. crude gave up 16 cents to $75.38 a barrel. Brent crude, the international standard, lost 15 cents to $79.53 a barrel.
The euro has been strengthening against the U.S. dollar. On Monday, it cost $1.1040, inching up from $1.1028.
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AP Business Writer Stan Choe contributed to this report.
World
Argentinian flight instructor jumps to death from plane, 22-year-old student forced to land alone
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A flight instructor jumped to his death out of a small aircraft over Argentina, forcing the student pilot he was teaching to land the plane herself.
Leandro Andrés Bertazzo, 42, was on board a two-seat Cessna 150G on Saturday when he made the decision to jump out over the province of Córdoba, according to CNN, which cited its Argentinian affiliate TN.
“He made this tragic decision on board an aircraft with another person by his side,” Eduardo Álvarez, director of the Flying Parrot Córdoba flying school where Bertazzo worked, told TN. “It’s impossible to think about it or understand it, but the human mind is so complex.”
An undated photo of Leandro Andrés Bertazzo, a 42-year-old pilot who jumped to his death from a plane on Saturday, July 4 in Argentina. (Instagram/Leandro Bertazzo)
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Rosario, the 22-year-old student, later told authorities that Bertazzo told her, “You know what you have to do, carry on,” before taking off his gear, opening the door and leaping out, according to Álvarez.
Opening the door of a plane midair is incredibly difficult. Álvarez said it would be akin to trying to open the door of a car traveling 124 miles per hour.
Cessna 150m FRA150M climbing out after take-off with flaps deployed and hills behind. (aviation-images.com/Universal Images Group via Getty Images)
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Álvarez said that Rosario managed to land the plane safely, despite being in “complete shock.” There was no damage to the plane, according to TN.
Álvarez noted that Bertazzo had gone on a flight with another student earlier in the day.
A view from the main road of the flight school Bertazzo worked at, Flying Parrot Córdoba. (Google Maps)
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Álvarez also told TN that Bertazzo had visited a psychiatric institute, something that was only known by his family prior to his death.
Prosecutors in Córdoba will lead the investigation into Bertazzo’s death. The plane he jumped from is now in police custody.
Former Olympic canoeist David Hearn denies damaging US President Donald Trump’s Washington, DC reflecting pool renovation.
Published On 9 Jul 2026
A former US Olympian has pleaded not guilty to vandalising the newly renovated Lincoln Memorial Reflecting Pool, in a case that has drawn national attention amid accusations that the administration of US President Donald Trump is trying to shift blame for a troubled renovation.
David “Davey” Hearn, a 67-year-old three-time Olympic canoe racer, entered his plea in federal court on Thursday after prosecutors accused him of “maliciously” damaging the “American flag blue” lining installed at the bottom of the reflecting pool at Trump’s request ahead of celebrations taking place at Washington’s National Mall for the 250th anniversary of the United States’ independence on July 4.
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Federal prosecutors allege Hearn pulled at the liner on June 19, causing more than $1,000 in damage. He has been charged with destruction of government property, an offence that carries a maximum prison sentence of 10 years.
Hearn denied the allegations. He admitted he stopped at the pool during a bike ride, reached inside and touched a section of lining that was already peeling away, but that he did not remove or damage it. He told The Associated Press he let go when a park employee told him to stop.
Hearn’s lawyers argue the prosecution is an attempt by the Trump administration to deflect attention from what they describe as a botched renovation project.
“This indictment reflects the administration’s effort to shift blame for their own failures,” they said in a statement. “The justice system exists to determine facts, not to provide political cover.”
The 620-metre (2,030-foot) reflecting pool reopened in June after Trump ordered the new liner to be installed across the bottom. He said he was compelled to go ahead with the $14.7m renovation after a friend visiting from Germany called the pool dark and disgusting.
But within days, algae began to spread across the surface, the water turned chartreuse green, and sections of the liner began peeling away.
Experts have explained that the dark new coat of paint at the bottom of the pool would elevate the temperature and allow algae to grow, and that algae blooms in water are common at this time of year, especially in shallow, stagnant water like that of the pool.
Trump blamed the issues on vandals, claiming without evidence that “corrosive and destructive chemicals” were poured into the pool and that vandals “took some form of knife or blade” and put a long “gash into the beautiful facade”, although no one has been charged over those alleged acts.
The US president warned that anyone who allegedly damaged the pool could face long prison terms. “Please remember that there is a 10 year prison sentence for the destruction, or even the attempted destruction, of such things — Which will be fully enforced!” he wrote on Truth Social.
Last week, US Attorney for the District of Columbia Jeanine Pirro announced the indictment against Hearn, accusing him of intentionally damaging the liner.
The US Department of the Interior has said that at least six people were arrested on suspicion of vandalising the pool in the weeks after it reopened. National Guard troops and US Park Police were deployed to protect the site, which was fenced off during July 4 celebrations.
Thursday’s hearing drew a packed courtroom, with dozens of supporters waiting outside after Hearn entered his plea.
The reflecting pool’s problems have continued, with Trump acknowledging it will need to be drained again so the damaged liner can be repaired.
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