This Friday, global and domestic headlines make for a volatile mix. Trump sets a hard deadline for a Gaza ceasefire, while SEBI clarifies it won’t regulate family offices.
Canada’s economy shows signs of slowdown, and Bitcoin rallies past $120,000 amid the US government shutdown. From geopolitics to markets, here’s what you need to know.
A glance at major developments on Friday.
Trump sets hard deadline for Hamas ceasefire
US President Donald Trump has given Hamas a hard deadline: Sunday at 6 PM Washington time to say yes to his 20-point ceasefire plan for Gaza.
And he’s not mincing words as he warned that if they refuse, “all hell, like no one has ever seen before,” could break loose.
The plan, which Israel’s Prime Minister Benjamin Netanyahu is on board with, calls for a bunch of big moves: an immediate ceasefire, releasing Israeli hostages, a phased pullback of Israeli troops, Hamas giving up its weapons, and a transitional government overseen by an international body led by Trump.
Hamas is apparently looking it over but hasn’t said yes or no, yet. Trump also told Palestinians in Gaza to try to find safer areas, just in case the deal falls through.
This deadline comes after almost two years of brutal fighting that’s killed more than 66,000 Palestinians. Trump is framing this as a “last chance” for peace in the Middle East, one way or another.
SEBI rules out regulating family offices
India’s market regulator, SEBI, has made it clear: it’s not planning to regulate family offices, despite what some recent media reports have suggested.
Multiple sources confirmed that SEBI has no intentions of bringing these private investment setups, which manage wealth for ultra-rich families, under formal oversight.
There have been talks about improving transparency, like asking family offices to disclose their assets, entities, and investments.
But for now, nothing has been finalized, and there’s no regulatory framework in the works.
SEBI says the aim is simply to make markets more transparent and manage risks from big family-run investment vehicles, not to impose full-blown regulations.
Canada’s economy faces a broad slowdown
Canada’s services sector took a hit in September, shrinking more than expected.
The Business Activity Index fell to 46.3 from 48.6 in August, its lowest point since June, and marked the sector’s tenth straight month of decline.
Jobs weren’t safe either: the employment index dropped to 48.9, showing that layoffs have returned.
Meanwhile, outstanding work slipped to its lowest level since June 2020, hinting that companies have more capacity than they can fill.
And it’s not just services: the manufacturing sector is contracting too, painting a picture of broader economic weakness. Global trade tensions, including a US-led trade war, are also weighing on Canadian exports.
Despite the challenges, there’s a silver lining: businesses are feeling a bit more optimistic about the year ahead, with the forward-looking activity index hitting an 11-month high.
The Bank of Canada has already cut interest rates to 2.50% to try and give the economy a boost during this slow patch.
US government shutdown ignites Bitcoin rally
Bitcoin has shot up past $120,000, hitting its highest level in over two months, and the US government shutdown is playing a big role.
With key economic data, like the nonfarm payrolls report, on hold, the Federal Reserve is expected to be somewhat “in the dark,” which could make rate cuts more likely.
It’s not just Bitcoin seeing gains; other major cryptocurrencies like Ether, XRP, and Solana jumped between 4% and 7%. Traders are gearing up for higher volatility, seeing options as cheap and preparing for big price swings.
This rally, sparked by the government shutdown, shows investors are leaning on Bitcoin as a hedge amid economic uncertainty, and it could be a key moment setting the stage for the next big crypto surge.
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