Maine Democrats plan convention to replace scandal-hit Platner – US politics live
Context
Senate pick announced his withdrawal in angry video accusing party and media of acting as ‘judge, jury and executioner’ Sign up for the Breaking News US email Hello and welcome to the US politics live blog. The Maine Democratic party has voted to hold a convention after its Senate pick Graham Platner withdrew from the race following accusations of sexual assault. Donald Trump said on Wednesday he would ask the US supreme court to reconsider its ruling that the 14th amendment to the US constitution guarantees birthright citizenship in light of what he described as shocking new evidence: a hospital in Texas advertising its services to expectant mothers in Mexico on a pair of billboards. “Signs and Billboards are being put up all over our Southern Border, and Mexico, advertising BIRTHRIGHT CITIZENSHIP, with ‘Deliveries starting at $4000’, the president wrote on his social media platform, in what appeared to be a wild exaggeration of a Fox News report on just two billboards. Donald Trump flew from Turkey to England onboard the older Air Force One on Wednesday, rather than the new, Qatari-gifted aircraft he used to travel to the Nato summit in Ankara, an unexpected change in plans that prompted questions about security fears. Trump later boarded the new plane at Mildenhall air force base in the United Kingdom for the trip back to Washington. Andrew Giuliani, head of the White House’s World Cup taskforce, has defended Donald Trump’s lobbying of Fifa to lift the suspension of US player Folarin Balogun for Monday’s game against Belgium. The US president claimed that Brazilian referee Raphael Claus, who showed Balogun a red card in the match against Bosnia and Herzegovina, was “a little bit suspect, if you check his past”. US stock markets fell on Wednesday as the US continued strikes on Iran and the Federal Reserve flagged concerns that would warrant higher interest rates. Donald Trump’s declaration at the Nato summit in Ankara that the Iran-US ceasefire is over sent oil prices sharply higher on Wednesday. Brent crude, the global benchmark, jumped more than 5% to crest $80 a barrel. A Manhattan federal court judge on Wednesday ordered the release of the more than $5m Donald Trump owes E Jean Carroll following her successful 2023 sexual abuse and defamation trial against him. Less than an hour after the judge issued his order, Trump filed paperwork indicating he was appealing the decision. Continue reading...
What it means
The combination of resumed US-Iran hostilities and Federal Reserve hawkishness has historically been associated with higher oil prices, safe-haven demand for gold, and downward pressure on equities and long-duration bonds. The Maine Senate candidate story and other domestic political items in this article have no direct market channel. The oil and Fed signals are the dominant market-moving elements here.
Causal chain
- Exp. moveTimeframeConviction
- Brent crude (BZ)$49.66L1d
US-Iran ceasefire declared over; US continues strikes on Iran, raising supply disruption risk
• no significant moveabnormal -2.3%·1 trading day - Gold (GLD)$377.16M1d
Oil price spike and geopolitical uncertainty drive safe-haven demand
• no significant moveabnormal +0.4%·1 trading day - S&P 500 (SPY)$741.69M1d
Fed signals higher-for-longer rates amid geopolitical and inflationary pressures, raising discount rates
• no significant moveabnormal +0.8%·1 trading day - Long Treasuries (TLT)$82.80M1d
Rising oil prices and Fed hawkishness strengthen inflation expectations, pressuring long-duration bonds
• no significant moveabnormal -0.0%·1 trading day
How to read a signal
- Severity
- the event's market impact, 1–5
- Direction
- ↑ / ↓ likely price move for the asset
- Exp. move
- the size of the abnormal move we'd expect if the call plays out — not a claim a move will happen:Most flagged events don't move beyond noise; those count against us (see the track record).Ssmall<1%Mmoderate1–5%Llarge>5%
- Timeframe
- the window we measure over:1dshort5dmedium21dlong
- Conviction
- how well-established the directional call is (textbook → speculative) — not a guaranteed outcome:lowaveragestrong
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Sign up free →Not investment advice · for informational purposes only. Generated 9 Jul, 10:27 UTC