Wall Street ends the first day of the third quarter with a strong rebound.

Wall Street ends the first day of the third quarter with a strong rebound
 

NEW YORK (Reuters) - Wall Street rebounded to a strong higher close in light trading on Friday as investors embarked on the year's second half ahead of the long holiday weekend. 

 The three major US stock indexes reversed their first losses to find themselves in positive territory after decades' worst first half of the stock market. 

 However, all three indexes fell for the week. 

 "We're gearing up for the holiday weekend and there's a  relief rally at the end of the day," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. "But we'll probably have to wait for investors to come back from the holiday weekend to see if that's sustainable at the start of the new quarter." 

 Market participants are now looking ahead to the second-quarter earnings season, the Labor Department's June jobs report, and the Federal Reserve's monetary policy meeting scheduled for late July. 

 The microchip sector plummeted after Micron Technology Inc (NASDAQ: MU) warned about cooling demand. Shares of 

 Micron fell 2.9%, dragging the Philadelphia SE Semiconductor index down 3.8%. 

 Concerns about falling demand amid decade-high inflation are reflected in the Institute of Supply Management's (ISM) Purchasing Managers' Index, which shows a drop in input prices for orders. new. 

 The ISM report seems to support the idea that the economy is cooling and inflation appears to have passed its peak. This raises the possibility that the Fed may have room for a dovish turn after a second consecutive 75 basis point rate hike is expected in July. 

 "The Fed will need more evidence to change its stance on further rate hikes," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. "There is still a lot of uncertainty about the economy and inflation despite early signs that inflation may have peaked." 

 The Dow Jones Industrial Average rose 321.83 points, or 1.05%, to 31,097.26, the S&P 500 added 39.95 points, or 1.06%, to 3,825.33 and the Nasdaq Composite added 99. 11 points, or 0.90%, to 11,127.85. 

  11 major  S&P 500 industry groups ended the session in the green, with utilities posting the highest percentage gain. 

 The second-quarter reporting season kicks off in a few weeks, and 130  S&P 500 companies have already announced. Of those, 45 were positive and 77 were negative, a negative-to-positive ratio lower than a year ago, according to Refinitiv data. 

 Yields outlook hit by woeful inflation and falling consumer demand should keep market participants attentive to the forecasts. 

 Analysts now expect  S&P 500 total second-quarter earnings growth of 5.6%, down from the 6.8% expected at the start of the quarter, according to Refinitiv.

Shares of department store chain Kohl's Corp (NYSE: KSS) fell 19.6% following the decision to halt negotiations over a possible sale to Franchise Group (NASDAQ:FRG). 

 Pre-issues outnumbered discount issues on the NYSE by a ratio of 2.77-1; on the Nasdaq, a  ratio of 1.57 to a number of advancers is preferred. 

  S&P 500 Posts 52 Week Highs and 48 New Highs; Nasdaq Composite recorded 12 new highs and 219 new lows. 

 Volume on US exchanges was 11.01 billion shares, compared with an average of 12.88 billion over the past 20 trading days.

 By Stephen Culp on Investing

Editor By: Black Wall News.

219 years freedom from slavery in Haiti

219 years of freedom in Haiti 

The flag of Haiti was created in 1803, adopted in 1820, and made official in 1843. The 1987 Constitution of Haiti confirms in the text the historical identity of the Haitian flag, which is recognized as the emblem of the Republic.

The flag of Haiti is blue and red, arranged in two horizontal bands of equal length.

This flag is inspired by the tricolor French flag, adopted by the French Revolution, whose white part, considered the symbol of the white race and not of royalty, has been torn. On May 18, 1803, during the congress of Arcahaie, bringing together all the leaders of the Haitian Revolution, Jean-Jacques Dessalines tore off the central white part of the French tricolor flag. Catherine Flon took the two remaining pieces, blue and red, and sewed them together to symbolize the union of blacks and mulattoes and create the flag of Haiti of the Republic of Haiti. The flag presents in its center a coat of arms with rifles and cannons, copying the header of the French generals of the Santo Domingo expedition1.

Headed paper of French generals during the Saint-Domingue expedition.

Under the Duvalier dictatorship, from 1964 to 1986, it was replaced by a red and black flag.

Ten days after the overthrow of Jean-Claude Duvalier, on February 17, 1986, the historic national flag was officially rehabilitated and confirmed by the 1987 constitution voted in the referendum of March 29, 1987.

The arms of the Republic are: The palm tree surmounted by the cap of freedom and, shading with its palms, a trophy of arms with the legend: “Unity is strength”.

Since 1938, the patriotic song Fière Haïti, also known as "Hymne à la jeunesse", written in 1937 by Édouard Antonin Tardieu, following competition from the Ministry of National Education, and whose music was composed by Desaix Baptiste, is sung every May 18, Flag Day. It is also sung during the raising of flags, especially in schools. Wikipedia

The historicity of the flag

The French flag flew over the French colony of Santo Domingo for more than a century until February 1803. The black leader, the precursor to independence, Toussaint Louverture, adopted the French tricolor in 1798. In January 1801, he was appointed governor and directed the whole island, then by the constitution of July 8, 1801, became Governor for life. In June 1802, Toussaint Louverture was taken prisoner by Napoleon Bonaparte and deported to France, where he died.

In February 1803, at the Petite Rivière de l'Artibonite, Jean-Jacques Dessalines, the leader of the Black insurgents, and Alexandre Pétion, the leader of the Mulattoes, decided to no longer fight alongside the French. During the Arcahaie Congress on May 18, 1803, Dessalines removed the white band from the colonial emblem to give birth to the first Haitian standard symbolizing the union of mulattoes and blacks in the struggle for their freedom. It had the motto "Liberty or Death" written on it. Dessalines was then appointed general-in-chief of the army of the insurrection. Catherine Flon, the daughter-in-law of Dessalines' wife, was in charge of sewing the two bands, blue and red.

On November 18, 1803, the capitulation of the French troops at Vertières sealed the independence of Haiti. On January 1, 1804, the leaders of the Revolution decided to change the flag by arranging the colors horizontally. It was the first official flag of the free and independent Republic. The Constitution of 1843 will confirm this horizontal two-tone flag (article 192).

On October 8, 1804, Dessalines proclaimed himself emperor under the name of Jacques 1er. It then adopted, on May 20, 1805, a new black and red vertical flag. These colors symbolized the words: "Freedom" (red) or "Death" (black).

After the events of October 17, 1806 at Pont Rouge, where Jean-Jacques Dessalines was assassinated, the country, for 14 years, was divided into two parts, on the one hand the North and on the other hand, the South and the West. . , governed respectively by Alexandre Pétion and Henri Christophe. Alexandre Pétion redesigned the flag the same year, using the blue and red of 1804, adding "L'Union fait la force" and a square of white cloth in the middle of which were placed the arms of the Republic adorned with the cap of liberty ( Phrygian cap). This flag flew above the National Palace for 158 years until 1964.

On December 27, 1806, General Henri Christophe was appointed president and was recognized by the North, the North-West and later, in 1807, by the Arbonites. On March 28, 1811, he proclaimed himself king under the name of Henry I (1811-1820). The Emperor kept the colors of the imperial standard of the Kingdom of the North (1805) but slid the red band on the side of the mast with in the middle, an escutcheon with a phoenix surmounted by five gold stars on a blue background. A crown is arranged above the phoenix and in the circle, a Latin inscription 'ex cinerebus nascitur' "from the ashes, I will be reborn". The kingdom of Henry I was abolished in 1818 following the conquest of the North by Alexandre Pétion, proclaimed president on March 19, 1807, and who imposed the blue, red, horizontal flag. Jean-Pierre Boyer succeeded him on October 8, 1820 but kept the same flag.

On February 9, 1822, Jean-Pierre Boyer annexed the Spanish part of the island (today the Dominican Republic) which, a few months earlier, on November 30, 1821, proclaimed its independence from Spain under the name of "Republica del Haiti espanol". ""Spanish Republic of Haiti" and at the same time, its union with Gran Colombia. The flag of the Spanish Republic of Haiti was raised in the first weeks of 1822, but it was the flag of Gran Colombia in A Republic that Boyer wasted no time in dissolving.

An attempt to rehabilitate the black and red flag, undertaken in 1844, was a failure. In 1847, Faustin Soulouque was elected president and in 1849, proclaimed himself emperor under the name of Faustin I (1849-1859). In its Constitution of 1849, it adopts the blue and red flag but replaces the coat of arms with a crest. The Empire of Faustin I came to an end on January 15, 1859 and the coat of arms of the Republic returned to its original place, in the center of the flag.

François Duvalier, Papa Doc, was elected president in 1957 and in 1960 seized all the powers. In 1963, he created the single party. A new Constitution was adopted on May 25, 1964, which adopted the black and red flag. The latter was officially confirmed on June 21, 1964. However, the coat of arms of the Republic was retained. Duvalier died on April 21, 1971 and was replaced by his son, Jean Claude, proclaimed president for life. Following a popular revolt, Jean Claude left power in February 1986.

On February 17, 1986, 10 days after the departure of Jean-Claude Duvalier, the nation readopted the blue and the red which would be ratified a year later, on March 29, 1987, during the plebiscite on the 1987 Constitution.

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What you need to know right now about Ukraine and Russia

 Ukraine and Russia: What you need to know right now

Moscow said 1,730 Ukrainian fighters surrendered to Mariupol in three days, including 771 in the past 24 hours, demanding surrender on a much larger scale than kyiv has acknowledged since ordering its garrison to withdraw.

STRUGGLE

* Ukraine's Territorial Defense Force said its fighters blew up an armored train carrying Russian troops. Still, an adviser to President Volodymyr Zelinskiy later said the attack was limited to the tracks near the train.

* More than half of the Ukrainian fighters in the bunkers under the Azovstal steelworks have surrendered, the leader of the rebel Russia-backed Donetsk region says, and the International Committee of the Red Cross says that he recorded them.

* The head of the World Health Organization has urged Russia to ensure safe access to places in Ukraine that its troops control or besiege to enable health care delivery.

* A Ukrainian prosecutor on Thursday asked a court to sentence a Russian soldier to life in prison for killing an unarmed civilian in the first war crimes trial stemming from the February 24 Russian invasion.

* The White House is working on getting advanced anti-ship missiles into the hands of Ukrainian fighters to help defeat the Russian naval blockade, officials said, as more powerful weapons that could sink Russian warships step up the dispute.

DIPLOMACY

* Ukrainian Prime Minister Denys Shmyhal said he and finance ministers from the wealthy Group of Seven countries had discussed "practical steps" to help Ukraine recover from the war with Russia.

* Group of Seven financial leaders is expected to agree on Thursday and Friday about $15 billion to help Ukraine pay its bills in the coming months.

* US President Joe Biden met with Swedish and Finnish leaders on Thursday to advance their demands to join the NATO military alliance in response to Russia's invasion of Ukraine, as Turkey repeated its opposition to this decision.

* Russian Chief of General Staff Valery Gerasimov and US Joint Chiefs of Staff Chairman General Mark Milley held a phone call, RIA news agency reported on Thursday, citing the Russian ministry of the defense.

* The European Parliament has called for former German Chancellor Gerhard Schroeder to be blacklisted if he does not leave the board of Russian state oil company Rosneft in a bid also to dissuade him from taking a job as management at Gazprom (MCX:GAZP).

ECONOMY

* Ukraine has exported 643,000 tons of grain since the beginning of May, considerably less than the same period last year when it sold 1.8 million tons abroad, the report said. The Minister of Agriculture.

* UN Secretary-General Antonio Guterres said he was in 'intense contact' with Russia, Ukraine, Turkey, the United States, and the European Union in a bid to restore exports of Ukrainian cereals as the global food crisis worsens.

Published by Investing.com

Repost by Black Wall News