U.K. Prime Minister Keir Starmer is facing significant pressure from within his party, with over 70 MPs urging him to resign and several aides stepping down following a speech that failed to quell dissent. Home Secretary Shabana Mahmood is among those calling for a clear exit strategy from Number 10.
London Mayor Sadiq Khan has expressed concerns about the Labour Party's boldness, suggesting that a failure to act decisively could lead to a poor performance in the next general election. Khan also advocates for Labour to commit to rejoining the EU, criticizing Brexit as a major economic mistake.
This political turmoil coincides with the upcoming King's Speech, which will outline government priorities. In international news, oil prices have risen due to U.S. President Donald Trump's comments about the fragile ceasefire with Iran, indicating that the conflict may continue. Trump is also set to visit China with several prominent CEOs, including Elon Musk and Tim Cook.
In market developments, while Asian stocks show mixed results and European futures are down, Wall Street is experiencing gains, with the S&P 500 and Nasdaq reaching new record highs. Dan Ives from Wedbush Securities predicts that the Nasdaq could rise to 30,000 points within a year, driven by strong earnings in the tech sector and growing enthusiasm for AI-related stocks.
The Nasdaq Composite recently closed at 26,247.08, reflecting a 12.93% increase this year, as investor confidence shifts towards the AI market