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The establishment of CARICOM was a landmark achievement for the Caribbean nations, as it aimed to promote economic integration, cooperation, and the shared development of its member states. CARICOM Day serves as a public holiday in Guyana and is recognized in several other Caribbean countries, providing an opportunity to reflect on the region’s collective progress and the importance of regional unity.

On CARICOM Day, member states organise a variety of activities to celebrate the occasion. These include parades, educational campaigns, and cultural events that highlight CARICOM’s achievements and goals. The day is an opportunity for Caribbean citizens to come together and reaffirm their commitment to the regional integration process, which is crucial in addressing common challenges and fostering shared prosperity.

As the Caribbean Community continues to evolve and strengthen its ties, CARICOM Day remains a significant occasion that fosters a sense of community and shared purpose among the region’s nations.

Global stocks gained on Wednesday following a surprisingly soft reading on the U.S. labour market, which fueled hopes of a potential pivot by the Federal Reserve.

The ADP National Employment Report showed private payrolls dropped by 33,000 jobs in June, well below the expected 95,000 increase, after a downwardly revised 29,000 increase in May. This weaker-than-anticipated data raised expectations that the Fed may slow the pace of interest rate hikes.

On Wall Street, the S&P 500 and Nasdaq Composite indices climbed, with Tesla shares bouncing back 4.7% after a 5.3% drop the previous day. The Dow Jones Industrial Average, however, dipped slightly. Globally, MSCI’s all-country world index hit an intraday record high, while the pan-European STOXX 600 index also closed higher, led by gains in renewable energy and luxury stocks.

In the UK, government bond yields surged, with the 10-year gilt yield jumping 16.8 basis points to 4.621%, amid growing speculation about the future of the country’s finance minister. The British pound tumbled 0.84% against the U.S. dollar.

The dollar index, which measures the greenback against a basket of currencies, rose 0.19%, snapping a nine-day losing streak, as the euro slipped 0.1% against the dollar.

Investors were also monitoring developments on the trade front, with President Trump announcing a new deal with Vietnam, which could help alleviate some trade-related uncertainty.

Oil prices also rose, with U.S. crude jumping 3.09% to $67.48 per barrel and Brent crude surging 2.98% to $69.10 per barrel, as Iran suspended cooperation with the U.N. nuclear watchdog.

Read the original article here: https://www.msn.com/en-us/money/markets/stocks-edge-up-to-record-gilt-yields-surge-on-finance-minister-uncertainty/ar-AA1HQK3y?ocid=BingNewsVerp