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January 20, 2025

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Fuel tanker truck blast kills at least 85 in Nigeria

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The death toll from a gasoline tanker explosion in north-central Nigeria has risen to 86, the country’s emergency response agency said on Sunday.

The blast happened in the early hours of Saturday near the Suleja area of Niger state after individuals attempted to transfer gasoline from a crashed oil tanker into another truck using a generator.

The fuel transfer sparked the explosion, resulting in the deaths of those transferring the gasoline and bystanders.

In an update, Hussaini Isah of the National Emergency Management Agency told the Associated Press that an additional 55 people were injured and are receiving treatment at three different hospitals in the Suleja area.

“There were people that were burnt to ashes. How can we get that figure?” The official said, indicating that the death toll might be higher than 86. “We won’t know the exact figure without forensics.”

The blast claimed so many victims because a crowd had gathered at the scene, including people taking pictures, bystanders, and others attempting to scoop gasoline, Isah said.

Gasoline prices in Africa’s most populous country has soared after the administration of President Bola Tinubu removed subsides on the product more than a year ago in an attempt to channel the resources to more developmental purposes. However, the policy has caused untoward hardship.

Scooping gasoline from a fallen tanker is common in Nigeria as some people see that as an opportunity to get free product that they could either use or resell for a profit.

This story has been updated with additional information.

This post appeared first on cnn.com

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Editor's Pick

Indian police volunteer gets life sentence for rape, murder of Kolkata junior doctor

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An Indian court awarded a life sentence on Monday to a police volunteer convicted of the rape and murder of a junior doctor at the hospital where she worked in the eastern city of Kolkata, rejecting demands for the death penalty and saying it was not a rare crime.

The woman’s body was found in a classroom at the state-run R G Kar Medical College and Hospital on August 9. Other doctors stayed off work for weeks to demand justice for her and better security at public hospitals, as the crime sparked national outrage over a lack of safety for women.

Sanjay Roy, the police volunteer, was convicted by judge Anirban Das on Saturday, who said circumstantial evidence had proved the charges against Roy.

Roy said he was innocent and that he had been framed, and sought clemency.

The federal police, who investigated the case, said the crime belonged to the “rarest-of-rare” category and Roy, therefore, deserved the death penalty.

“I do not consider it as a rarest-of-rare crime,” judge Das said and sentenced Roy to life in jail on both the counts of rape and murder. “Life imprisonment, meaning imprisonment until death.”

The judge said that he had come to the conclusion that it was not a rarest-of-rare crime after considering all the evidence and the circumstances linked to it. He said Roy could go in appeal to a higher court.

The sentence was announced in a packed courtroom as the judge allowed the public to witness proceedings on Monday. The speedy trial in the court was not open to the public.

The parents of the junior doctor were among those in court on Monday. Security was stepped up with dozens of police personnel deployed at the court complex.

The parents had earlier said that they were not satisfied with the probe and suspected more people were involved in the crime.

Their lawyer, Amartya Dey, told Reuters on Monday that they had sought the death penalty for Roy and also demanded that those involved in what they called the “larger conspiracy” be brought to book.

Protesting doctors had said that street protests would continue until justice was done.

India’s federal police cited 128 witnesses in its investigation, of whom 51 were examined during the fast-tracked trial that began in November.

Police had also charged the officer heading the local police station and the head of the college at the time of the crime with destruction of the crime scene and tampering with evidence.

This post appeared first on cnn.com

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Economy

Stock Futures Lower after S&P 500 futures ticked down 0.18%

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Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

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Economy

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

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Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

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