
Options Signal Emerging-Market Stock Outperformance Could Fade
For US traders, developing-country stocks have been a surprising source of returns as Donald Trump's trade war roiled the S&P 500 Index. But if options are any guide, that outperformance may soon be a thing of the past.
With President Trump's 90-day pause on reciprocal tariffs slated to end in early July, speculators are now bracing for more turbulence in emerging markets. An ETF tracking the segment has rallied 14% this year, beating the S&P 500 by the most since 2009. Open interest in put options on the iShares MSCI Emerging Markets ETF (EEM) is hovering close to the highest since December relative to bullish call contracts. Rising open interest means new positions are being added in a particular contract.
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14 minutes ago
Vance blames California Dems for violent immigration protests and calls Sen. Alex Padilla 'Jose'
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I stood up against Donald Trump,'' Vance added. A spokesperson for Padilla, Tess Oswald, noted in a social media post that Padilla and Vance were formerly colleagues in the Senate and said that Vance should know better. 'He should be more focused on demilitarizing our city than taking cheap shots,' Oswald said. Vance's visit to Los Angeles to tour a multiagency Federal Joint Operations Center and a mobile command center came as demonstrations calmed down in the city and a curfew was lifted this week. That followed over a week of sometimes-violent clashes between protesters and police and outbreaks of vandalism and looting that followed immigration raids across Southern California. Trump's dispatching of his top emissary to Los Angeles at a time of turmoil surrounding the Israel-Iran war and the U.S.'s future role in it signals the political importance Trump places on his hard-line immigration policies. Vance echoed the president's harsh rhetoric toward California Democrats as he sought to blame them for the protests in the city. 'Gavin Newsom and Karen Bass, by treating the city as a sanctuary city, have basically said that this is open season on federal law enforcement,' Vance said after he toured federal immigration enforcement offices. 'What happened here was a tragedy,' Vance added. 'You had people who were doing the simple job of enforcing the law and they had rioters egged on by the governor and the mayor, making it harder for them to do their job. That is disgraceful. And it is why the president has responded so forcefully.' Newsom's spokesperson Izzy Gardon said in a statement, 'The Vice President's claim is categorically false. The governor has consistently condemned violence and has made his stance clear.' Speaking at City Hall, Bass said Vance was 'spewing lies and utter nonsense.' She said hundreds of millions of dollars were wasted by the federal government on a 'stunt.' 'How dare you say that city officials encourage violence? We kept the peace,' Bass said. In a statement on X, Newsom responded to Vance's reference to 'Jose Padilla,' saying the comment was no accident. Jose Padilla also is the name of a convicted al-Qaida terrorism plotter during President George W. Bush's administration, who was sentenced to two decades in prison. Padilla was arrested in 2002 at Chicago's O'Hare International Airport during the tense months after the 9/11 attacks and accused of the 'dirty bomb' mission. It later emerged through U.S. interrogation of other al-Qaida suspects that the 'mission' was only a sketchy idea, and those claims never surfaced in the South Florida terrorism case. Responding to the outrage, Taylor Van Kirk, a spokesperson for Vance, said of the vice president: 'He must have mixed up two people who have broken the law.' Federal immigration authorities have been ramping up arrests across the country to fulfill Trump's promise of mass deportations. Todd Lyons, the head of U.S. Immigration and Customs Enforcement, has defended his tactics against criticism that authorities are being too heavy-handed. The friction in Los Angeles began June 6, when federal agents conducted a series of immigration sweeps in the region that have continued since. Amid the protests and over the objections of state and local officials, Trump ordered the deployment of roughly 4,000 National Guard troops and 700 Marines to the second-largest U.S. city, home to 3.8 million people. Trump has said that without the military's involvement, Los Angeles 'would be a crime scene like we haven't seen in years.' Newsom has depicted the military intervention as the onset of a much broader effort by Trump to overturn political and cultural norms at the heart of the nation's democracy. Earlier Friday, Newsom urged Vance to visit victims of the deadly January wildfires while in Southern California and talk with Trump, who earlier this week suggested his feud with the governor might influence his consideration of $40 billion in federal wildfire aid for California. 'I hope we get that back on track,' Newsom wrote on X. 'We are counting on you, Mr. Vice President.'
Yahoo
17 minutes ago
- Yahoo
CoreCivic would make $4.2M a month running ICE detention center in Leavenworth
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Yahoo
17 minutes ago
- Yahoo
New Chick-Fil-A, Betty Rae's coming to Kansas City metro
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