Trump Says US Could Strike Iran Again at Any Time as Anti-Government Protests Escalate in France
FastBull FeaturedSummary:
Hundreds of thousands of people take part in anti-government protests in France, with clashes erupting again. Trump says the US could strike Iran again at any time.
Highlights
1. Iran and its allies may launch attacks to disrupt Israel's parliamentary elections.
2. US consumer confidence falls to a five-month low amid inflation concerns.
3. Iran has drawn up detailed plans to target undersea cables in the Gulf.
4. Hundreds of thousands join anti-government protests in France as clashes erupt again; nearly 1,000 arrested.
5. Trump says the US could strike Iran again at any time.
6. US business activity continues to expand, while prices post their largest increase since 2022.
Details
Iran and Its Allies May Launch Attacks to Disrupt Israel's Parliamentary Elections
Israeli Prime Minister Benjamin Netanyahu said on Sunday that Israel had received intelligence indicating that Iran and its armed allies might launch attacks to disrupt the parliamentary elections scheduled for Tuesday. He also warned that Israel would respond with disproportionate military force.
Speaking at a site housing Arrow missile defense systems, Netanyahu said the Israel Defense Forces were prepared for both offensive and defensive operations.
“Do not test us. You will face a disproportionate response,” Netanyahu warned, adding that Israel was far stronger than its adversaries imagined.
US Consumer Confidence Falls to a Five-Month Low Amid Inflation Concerns
US consumer confidence edged lower in October amid rising prices and interest rates, falling to its lowest level in five months.
According to a survey released on Friday, the University of Michigan's final Consumer Sentiment Index slipped to 48.0 from 48.1 in September.
Consumers expect prices to rise 4.7% over the next year, up from 4.6% in the previous month's survey. They also expect costs to increase at an annual rate of 3.5% over the next five to ten years. Both figures were the highest since May.
Joanne Hsu, director of the survey, said short- and long-term inflation expectations had risen in recent months after inflation remained above target for five consecutive years. This highlights the risk that elevated inflation expectations could become entrenched.
Iran Has Drawn Up Detailed Plans to Target Undersea Cables in the Gulf
Reuters, citing two senior Iranian security officials, reported that Tehran had drawn up detailed plans to target undersea telecommunications cables in the Gulf if the United States and Israel launch another attack on Iran.
One official said Iran could also prevent damaged cables from being repaired, prolonging disruptions to internet and other communications services. The official warned that if Iran were attacked, there would be no more red lines, and undersea cables and military bases could become targets.
The official also warned Washington against “playing with fire,” saying Iran had the capability to reach these undersea fiber-optic cables and destroy them easily.
On Wednesday, Javani, a deputy commander responsible for political affairs in Iran's Islamic Revolutionary Guard Corps, said Iran could target seven major internet cables running beneath the Strait of Hormuz if its infrastructure came under attack.
Alan Mauldin, research director at telecommunications research firm TeleGeography, noted that less than 1% of international bandwidth passes through the Strait of Hormuz. As a result, an Iranian attack on these cables would likely have a limited global impact.
Hundreds of Thousands Join Anti-Government Protests in France as Clashes Erupt Again; Nearly 1,000 Arrested
France was once again hit by large-scale anti-government demonstrations. The Interior Ministry estimated that around 410,000 people took part in protests across the country, while trade unions put the figure at 800,000.
Demonstrations in Paris, Marseille, and other cities eventually escalated into clashes between protesters and police, with around 1,000 people arrested.
Approximately 110,000 people took part in demonstrations in Paris alone. Protective boarding was installed over the windows and doors of some banks, luxury retailers, clothing stores, and food shops.
Cultural venues, including the Louvre, the Grand Palais, and the Picasso Museum, suspended operations, while around 20 metro stations were closed.
The Yellow Vests movement said it would organize more than 500 demonstrations nationwide, demanding that President Emmanuel Macron step down. Authorities heightened security in response.
The protests spread across Europe. In Brussels, Belgian police clashed with anti-government demonstrators and used tear gas and pepper spray. Protests also took place in several Italian cities and in Albania for the second consecutive weekend.
Trump Says the US Could Strike Iran Again at Any Time
On October 24 local time, US President Donald Trump was in West Palm Beach, Florida, to vote in the midterm elections. When a reporter asked whether the United States might launch another attack on Iran, Trump said he would not disclose such information to the media.
However, he added that the US could strike Iran again at any time, or the two sides could reach an agreement.
Trump also said he could have used B-2 bombers to carry out airstrikes a year earlier. He argued that Iran would always find a way to develop a nuclear bomb and that a permanent agreement with Tehran was therefore necessary.
US Business Activity Continues to Expand, While Prices Post Their Largest Increase Since 2022
The preliminary S&P Global US Composite Purchasing Managers' Index (PMI) fell by 0.8 points to 57.6 in October, according to data released last Friday. Despite the decline, it remained at its second-highest level since 2022. A reading above 50 indicates expansion.
The selling-price index rose at its fastest pace in more than four years, reflecting sharp increases in energy, transportation, and raw-material costs.
Chris Williamson, chief business economist at S&P Global Market Intelligence, said cost pressures remained a major concern, particularly as another surge in oil prices fed through to a broad range of goods and services.
Supply bottlenecks were also worsening. Supplier delivery times lengthened by the most since 2022, with S&P Global attributing the delays to material and labor shortages, overburdened suppliers, and transportation disruptions.
Nevertheless, Williamson said that, excluding the post-pandemic reopening period, US businesses were experiencing their strongest growth since 2015.
Robust consumer spending, AI-driven investment, and defense spending have all supported US businesses this year. The new orders index, a measure of demand, recorded its fastest growth in four and a half years in October.
Today's Economic Calendar
17:00 (UCT+8) Germany October Ifo Business Climate Index
22:30 (UCT+8) US October Dallas Fed Manufacturing Business Activity Index
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