The dollar strengthened across the board on Wednesday after the Federal Reserve held the benchmark interest rate steady and the Fed‘s statement showed policymakers expect a hike in borrowing costs later this year amid growing concerns about inflation.

While the central bank left the policy rate in the 3.50%-3.75% range, new quarterly projections showed nine Fed officials now anticipate a rate hike by the end of 2026, and an updated policy statement removed language that had been used to flag the likelihood of further reductions in borrowing costs in 2026.

The statement, in an early sign of new Fed Chairman Kevin Warsh‘s influence, removed any guidance about future rate moves altogether, with a revised ‌format that simply stated ⁠the rate ⁠decision and reaffirmed the central bank’s intent to keep “ample reserves in the banking system.”

“This Fed decision was short, but not sweet,” Karl Schamotta, chief market strategist at Corpay in Toronto, said.

“Kevin Warsh moved swiftly to put his stamp on the central bank’s communication strategy by executing a dramatic revision to the official statement, wiping out anything resembling forward guidance and editing out the bulk of the contextual information typically parsed most closely in financial markets.”

The Fed statement showed the outlook for inflation was marked up from 2.7% for the end of 2026 to 3.6%.
“The committee turned sharply hawkish, with the median participant yanking inflation projections much higher – suggesting that officials don’t expect this weekend’s U.S.-Iran deal to result in a serious easing in price pressures – and penciling in at least one hike this ⁠year, marking a ‌stark contrast with the cut previously expected,” Schamotta said. “Markets are taking it on the chin, with yields moving up in line with rate expectations, the dollar advancing against all of its major rivals, and equity markets tumbling,” he said.

The dollar index, which measures the greenback ⁠against a basket of currencies including the yen and the euro, rose 0.5% to 100.01, the highest in nearly a week. The euro fell 0.5% to $1.1549.

Also Read | Nasdaq, S&P fall over 1% as Fed holds rates; traders raise hike bets
Short-term U.S. interest-rate futures are now pricing in a bigger chance that the Federal Reserve will deliver a rate hike by September than opt to keep rates where they are.

An interim agreement to end the Iran war has pushed oil prices lower and should help ease some inflationary pressure in the months ahead, though the pass-through to consumer energy prices may take time.

Warsh, appointed by President Donald Trump, has suggested he will adopt a different governing approach from his predecessor Jerome Powell, who remains a voting member of the FOMC as a governor.

The dollar showed little reaction to data released on Wednesday showing U.S. retail sales increased more than expected in May.

BOE AND BOJ

The Bank of England meets on Thursday and, ‌as with the Fed, no change in policy is expected, leaving the focus on the tone of policymakers’ commentary.

That commentary could be shaped in part by Wednesday’s UK inflation data, which showed inflation unexpectedly held at 2.8% in May, unchanged from the 13-month low reached in April. Markets currently see one BoE rate hike by ⁠year-end.

Sterling was last down 0.5% at $1.3361.

The yen pared gains from earlier in the session to trade up about 0.05% to 160.385 per dollar, still keeping traders on alert for potential intervention by Japanese authorities to support the persistently weak currency.

The BOJ on Tuesday raised rates to a 31-year high in a landmark step in its policy normalization, signaling readiness to tighten further as it focuses on taming price pressures from the war-induced energy shock. However, policymakers offered few clues on the timing of the next move.

Sweden’s crown weakened after the Riksbank held its policy rate unchanged. The central bank said the Iran war had intensified inflationary pressures, raising the likelihood of a future rate hike, while also noting that underlying inflation remained subdued and economic activity was somewhat below normal.

The Swedish crown was last down 0.8% versus the dollar at 9.4382.

Leading cryptocurrency bitcoin was about flat on the day at $65,834.

The robots, more formally known as autonomous urban delivery vehicles, have started to appear on pavements in a number of cities across the US, plus in the UK, Japan, South Korea and Germany, transporting groceries and fast food, using cameras, sensors and GPS to navigate.

HOUSTON — Cristiano Ronaldo will look to etch his name further into World Cup history when Portugal opens its 2026 campaign against debutant DR Congo on Wednesday at NRG Stadium, with the 41-year-old superstar aiming to become the first player to score in six different tournaments.

Portugal enters the Group K match as one of the favorites to advance, having qualified with an impressive record of 20 goals in six matches. The European side brings a blend of experience and attacking talent, led by Ronaldo, who remains determined to add to his legacy on soccer’s biggest stage. DR Congo, returning to the World Cup for the first time since 1974 when competing as Zaire, faces a formidable challenge but carries the pride of a nation eager to make its mark after navigating a demanding playoff path.

The match kicks off at 5:00 p.m. GMT (6:00 p.m. WAT) in Houston, Texas, where both teams will seek an ideal start in a group that also includes Colombia and Uzbekistan. Portugal’s strong qualifying form has raised expectations, while DR Congo’s qualification through the inter-confederation playoff in Mexico has fueled national optimism despite the long absence from the global finals.

Ronaldo’s pursuit of a goal in his sixth World Cup adds significant narrative weight to the opener. The five-time Ballon d’Or winner has scored in every previous appearance since 2006, and another strike would represent a unique achievement in tournament history. His experience and leadership remain central to Portugal’s ambitions as the team seeks its first World Cup title.

DR Congo coach Sébastien Desabre acknowledged Ronaldo’s threat while expressing confidence in his squad. “Well, I wish him the best — I hope that he scores but not against us,” Desabre said.

Portugal’s Strong Qualifying and Tactical Setup

Portugal secured qualification with authority, demonstrating attacking prowess and defensive solidity. The team has lost only two of its last 15 World Cup group-stage matches, with a strong record against African opponents that includes four wins and one draw since 1986. Coach Roberto Martínez has built a balanced side capable of controlling matches through possession and quick transitions.

Possible starting lineup for Portugal: Costa; Dalot, Dias, Veiga, Mendes; Vitinha, Neves, Fernandes; Conceicao, Cristiano Ronaldo, Leao.

The squad features a mix of veterans and emerging talents, with Bruno Fernandes providing creativity from midfield and young attackers like Rafael Leao offering pace and dynamism. Ronaldo’s positioning and finishing ability will be key, supported by a midfield that can dictate tempo and create opportunities.

Portugal’s focus will be on securing an early lead and managing the game efficiently. A strong start is essential in a group where maximum points could ease progression and build confidence for subsequent fixtures.

DR Congo’s Historic Return and Challenges

DR Congo’s qualification marked a significant milestone, ending a 52-year absence from the World Cup. The team advanced through the playoff tournament in Mexico, defeating Jamaica 1-0 in Guadalajara to earn its place. The squad spent extended time in European training camps due to an Ebola outbreak in the country, using the period to prepare and observe early tournament matches.

Forward Yoane Wissa highlighted the team’s readiness. The wait for their campaign has been long, but the Congolese players are determined to make an impact and continue the positive performances shown by other African teams like Morocco, Ivory Coast, Egypt and Cape Verde.

Possible starting lineup for DR Congo: Mpasi-Nzau; Wan-Bissaka, Mbemba, Tuanzebe, Masuaku; Sadiki, Moutoussamy; Mbuku, Yoane Wissa, Elia; Bakambu.

DR Congo will rely on organization, physicality and counterattacking opportunities. Players like Cédric Bakambu and Yoane Wissa provide attacking threat, while the defense aims to frustrate Portugal’s creative players. The team’s inexperience at this level presents challenges, but their resilience in qualifying suggests potential for competitive performances.

Tactical Outlook and Match Expectations

Portugal is expected to dominate possession and create multiple scoring chances, with Ronaldo serving as the focal point. The team’s width and midfield control should allow them to probe DR Congo’s defense, looking for openings through quick combinations and set-pieces.

DR Congo is likely to adopt a compact shape, absorbing pressure and seeking transitions through pace on the wings. Set-piece defense will be critical, as Portugal has shown strength in dead-ball situations. The humid conditions in Houston could favor the more experienced European side, though both teams have prepared accordingly.

Analysts expect Portugal to secure a positive result, though DR Congo’s motivation and tactical discipline could make the match competitive. A Portugal victory would provide momentum and three points, while a draw or surprise result for DR Congo would represent a historic achievement for the debutants.

Historical Context and Group Significance

This marks the first World Cup meeting between Portugal and DR Congo. Portugal’s best finish remains third place in 1966, while DR Congo’s only previous appearance came in 1974. The expanded 48-team format has created opportunities for nations like DR Congo, increasing diversity and competitiveness in the tournament.

Group K features a mix of established and emerging teams. A strong start for Portugal would ease progression, while DR Congo needs positive results to keep advancement hopes alive. The match carries symbolic importance for African football, with several teams already showing strong performances in the early stages.

Player Spotlights and Key Battles

Ronaldo’s presence dominates pre-match discussion. His leadership and goal-scoring record make him a constant threat, though Portugal’s success depends on collective contribution. Midfielders like Bruno Fernandes and Vitinha will be crucial in linking play and creating chances.

For DR Congo, Yoane Wissa and Cédric Bakambu represent the main attacking threats. Defensive organization led by players like Chancel Mbemba will be essential in containing Portugal’s attack. The midfield battle between experienced Portuguese players and determined Congolese counterparts could decide control of the game’s tempo.

What’s Next for Both Teams

Portugal will aim to build on a positive result with an eye toward advancement and deeper tournament progression. The team’s depth allows for rotation in subsequent matches while maintaining standards. DR Congo faces additional tough fixtures but can take encouragement from competitive moments and use the experience for future development.

The 2026 World Cup has already delivered compelling storylines, with early matches highlighting both established powers and debutants. Portugal’s clash with DR Congo offers an early opportunity for Ronaldo to chase history while DR Congo seeks to make its mark on the global stage.

As kickoff approaches in Houston, anticipation builds for a match blending experience against ambition. Portugal enters as favorites, but football’s unpredictability ensures DR Congo will fight for every opportunity. The result could shape narratives in Group K and contribute to the tournament’s rich tapestry of individual brilliance and national pride.

Follow

Play Earnings CallPlay Earnings Call

Chemung Financial Corporation (CHMG) Shareholder/Analyst Call June 2, 2026 2:00 PM EDT

Company Participants

Scott Heffner – Senior VP & Director of Marketing
David Dalrymple
Anders Tomson – President, CEO & Director
Kathleen McKillip – Senior VP & Corporate Secretary
Kathleen E. Cook

Presentation

Advertisement

Scott Heffner
Senior VP & Director of Marketing

Good afternoon, and welcome to the Chemung Financial Corporation Annual Meeting of Shareholders. Please note that this meeting is being recorded. Questions may be submitted via the questions box to the right of your screen by typing your question into the text box and then clicking the submit button. Please also note that in the interest of all shareholders, we will only address those questions that are pertinent to the business of this meeting. If there are questions outside of the context of this meeting, please provide your e-mail address, and we will do our best to respond to your question within 24 hours.

If you are attending today’s meeting and wish to view the uploaded annual meeting documents, please click on the Documents tab at the top right of your screen and then click on the document name you wish to view. I will now turn the meeting over to our Chairman, David J. Dalrymple.

Advertisement

David Dalrymple

Thank you, Scott. Once again, we welcome you to the Annual Stockholders Meeting of Chemung Canal Trust Company and Chemung Financial Corporation, now in our 193rd year of doing business. I’m Dave Dalrymple, Chairman of the Board of Directors, and I really wish to thank you very much for joining us today. I now turn the meeting over to Anders Tomson, President and CEO of the bank and Corporation.

Anders Tomson
President, CEO & Director

Advertisement

Thank you, Dave. I would like to welcome everyone in attendance today to the virtual Annual Meeting of Shareholders of

NEW YORK — The Dow Jones Industrial Average edged higher to close at 52,010.40 on Tuesday, gaining 10.73 points or 0.02%, as investors welcomed the US-Iran ceasefire and the reopening of the Strait of Hormuz, reducing geopolitical tensions and supporting broader market optimism.

The modest advance reflected a consolidation phase after recent sharp gains driven by diplomatic breakthroughs in the Middle East. With energy supply concerns easing and oil prices moderating, the blue-chip index maintained its position near record territory, underscoring resilience in the US economy despite earlier uncertainties around inflation and interest rates.

The session’s quiet trading underscored a market focused on implementation details of the Iran agreement while digesting steady corporate earnings and monetary policy signals. The Dow’s performance aligned with gains in the S&P 500 and Nasdaq Composite, though technology shares showed mixed movements amid sector rotation.

Geopolitical Relief Drives Market Sentiment

The US-Iran peace deal, including the immediate lifting of the naval blockade and restoration of shipping through the critical oil waterway, has been the dominant positive catalyst. President Donald Trump’s confirmation of the agreement triggered broad relief across global markets, with lower energy price volatility supporting corporate margins and consumer spending expectations.

Analysts described the move as consistent with historical patterns following major risk reductions. When headline uncertainties subside, equity markets often stabilize as hedging activity decreases and capital flows toward growth assets. The current environment has favored cyclical sectors while maintaining support for defensive names.

Lower oil prices following the agreement are expected to moderate inflationary pressures, potentially giving the Federal Reserve more flexibility in future policy decisions. This backdrop has contributed to reduced market volatility, with the VIX declining as investors price in a more benign outlook for energy costs and global trade.

Sector Performance and Key Movers

Industrial and financial components led the Dow higher, benefiting from improved growth prospects and lower volatility expectations. Major banks advanced on stable lending conditions, while industrial giants gained on expectations of steadier supply chains and infrastructure spending.

Technology stocks within the index showed selective strength, with investors rotating toward names with strong AI exposure. Energy components posted more muted moves as the market digested falling oil prices, though the broader materials sector participated in the advance.

Smaller companies and the Russell 2000 index also edged higher, indicating that positive sentiment extended beyond large-cap leaders. The session’s broad participation signaled healthy market breadth amid the positive geopolitical news.

Economic Indicators and Policy Outlook

The Dow’s performance unfolded against a backdrop of resilient US economic data showing steady growth and solid corporate earnings. Recent inflation readings have remained contained, supporting expectations of a measured Federal Reserve approach to interest rates.

Kevin Warsh’s debut as Fed chair has drawn significant attention, with markets anticipating continuity in policy while watching for any shifts in tone. No immediate rate changes are widely expected, but updated economic projections and Warsh’s comments will influence investor positioning in coming sessions.

The combination of geopolitical relief and domestic economic stability has created favorable conditions for equity markets. Analysts note that reduced external risks allow focus to shift toward corporate fundamentals and sectoral opportunities.

Global Market Reactions

European and Asian markets followed Wall Street’s lead, with gains in energy-sensitive and export-oriented shares. The euro and other currencies strengthened modestly against the dollar as risk sentiment improved.

Oil futures declined further, easing pressure on import-dependent economies and supporting global growth forecasts. Gold and other safe-haven assets saw modest pullbacks as investors reduced defensive positioning.

The synchronized global rally underscores the interconnected nature of financial markets and the significant influence of Middle East developments on investor sentiment worldwide.

Analyst Perspectives on Market Conditions

Market strategists highlighted the positive impact of normalized energy supplies. Lower prices benefit both consumers and businesses, potentially supporting spending and investment. However, some cautioned that full implementation of the Iran agreement will require monitoring, as verification and long-term stability remain important factors.

The Dow’s ability to maintain gains near record levels demonstrates underlying strength in the US economy and corporate sector. Year-to-date performance remains robust, with the index on track for solid annual returns if current momentum holds.

Investment professionals recommend maintaining diversified portfolios capable of capturing opportunities across market conditions. Exposure to cyclical sectors has benefited from recent relief rallies, while defensive allocations provide stability during periods of uncertainty.

Historical Context of Dow Performance

Tuesday’s gain adds to the Dow’s strong run in 2026, reflecting the market’s resilience amid shifting geopolitical and economic landscapes. The index has benefited from corporate innovation, resilient consumer spending and periodic relief from international tensions.

The current environment contrasts with periods of heightened uncertainty earlier in the year. Sustained progress on trade normalization, energy security and domestic policy could support further upside according to many observers.

Investment Considerations for Market Participants

For individual investors, the session reinforces the importance of focusing on fundamentals while remaining aware of headline risks. Companies with strong balance sheets, pricing power and exposure to long-term growth themes such as technology and infrastructure are well positioned in the current climate.

Financial advisers suggest regular portfolio reviews to ensure alignment with risk tolerance and objectives. While geopolitical developments can drive short-term movements, underlying economic trends and corporate earnings remain primary drivers over longer horizons.

The Dow’s performance also highlights America’s interconnectedness with global events. Investors are encouraged to maintain diversified exposure while staying informed about international developments that could influence domestic markets.

Looking Ahead

Attention now turns to upcoming economic data releases, corporate earnings reports and any further details on the Iran agreement implementation. The Federal Reserve’s communications under new leadership will also be closely watched for signals on interest rate trajectory.

As markets digest the latest diplomatic breakthrough, the focus remains on whether positive momentum can be sustained. Strong corporate fundamentals, easing external risks and continued economic resilience provide a constructive backdrop, though periodic volatility is likely given the fluid nature of international relations.

The Dow’s modest advance on Tuesday represents continued confidence in the US economy amid improving global conditions. Investors will continue monitoring developments in the Middle East and their implications for energy prices, inflation and broader market sentiment in the weeks ahead.

The session serves as a reminder of markets’ sensitivity to headline news while also showcasing their capacity for steady progress when major uncertainties diminish. For now, the Dow’s performance underscores a cautiously optimistic outlook as 2026 progresses.

George Myhal

Good morning, and welcome, everyone. It is now 10:00 a.m. and time to begin the Annual Meeting of Shareholders of Trisura Group Limited. My name is George Myhal, and as Chair of the Board, it is my pleasure to Chair today’s meeting. On behalf of the Board and management, I would like to extend a warm welcome to everyone attending through the online live stream broadcast today.

We are pleased to host the meeting online, accessible to all our shareholders to participate, submit questions and vote. I will now call the meeting to order and would ask TSX Trust Company by its representatives to act as scrutineers.

I will also ask Joanna Grossman to act as Secretary of today’s meeting. And it is now my pleasure to introduce the members of management on the call. First, David Clare, President and CEO of Trisura Group; and secondly, David Scotland, Chief Financial Officer of Trisura Group.

As outlined in our management information circular, there are 3 items of business to be considered today. First, to receive the consolidated financial statements of the company for the fiscal year ended December 31, 2025; second, to elect directors who will serve until the next Annual Meeting of Shareholders; and third, to appoint the external auditor and authorize the directors to set their remuneration.

In connection with the business to be dealt with today, only registered shareholders who held shares in their name as of April 10, 2026, the record date of this meeting, or validly appointed proxy holders are entitled to vote at this meeting.

We will conduct the votes on the matters before us by poll. Once the poll is opened, registered shareholders and proxy holders

Economy and Financial Sector

Thailand faces a significant economic identity challenge, with KBank economists warning that the country risks becoming the world’s “landlord” — primarily hosting foreign data centers and infrastructure — rather than developing as a genuine technology player. This concern underscores the need for stronger investment in domestic tech capabilities and innovation ecosystems.

Thailand has joined the global tax information sharing system, signaling a commitment to greater financial transparency and international regulatory compliance. Separately, the Digital Watch Observatory reports that Thailand has updated its legal framework to modernise capital markets, while the Bank of Thailand is advancing a Bangkok Blueprint to tackle rising digital fraud ahead of its 2026 Annual Meetings. Read more via Nation Thailand | Bangkok Post

---

Tourism and Hospitality

Vietnam is emerging as Southeast Asia’s fastest-growing tourist destination, overtaking Thailand in Chinese tourist arrivals, according to multiple reports. Vietnam is actively working to avoid the over-tourism pitfalls experienced by Thailand, positioning itself strategically for sustainable long-term growth. Travel and Tour World reports that China, India, Singapore, Japan, South Korea, and Australia are among the primary drivers fueling this shift.

Thailand’s tourism sector continues to expand and innovate, with the Tourism Authority of Thailand (TAT) leveraging artificial intelligence and visual content to strengthen its appeal in the Chinese market. Thailand is also pursuing premium hospitality growth, with branded residences topping THB205 billion (approximately USD 6.4 billion), representing Asia’s largest share of launched luxury supply. The country is also set to host a global fireworks spectacle tied to the opening of Southeast Asia’s first Nobu Residences. Read more via TTG Asia | Travel and Tour World

---

Security and Law Enforcement

Thailand is intensifying its crackdown on foreign criminal activity, with authorities accelerating the deportation of foreign criminals and targeting illegal foreign business ownership structures. Ten Israelis were recently deported amid broader enforcement actions. The DSI (Department of Special Investigation) has also launched a sweep targeting an illegal Forex investment network operating within the country.

A major maritime drug smuggling operation was successfully dismantled through joint efforts by China, Thailand, and the United States, earning recognition among China’s top 10 anti-drug cases of 2025. Additionally, South Korea and Thailand are deepening police cooperation to combat transnational crime across the region. Read more via Al Jazeera | Global Times

---

Energy, Environment, and Infrastructure

Thailand’s first commercial Sustainable Aviation Fuel (SAF) production facility has been unveiled by the Bangchak Group, marking a significant milestone in the country’s transition toward cleaner energy in aviation. Meanwhile, disruptions to Middle East oil and gas production are expected to drive travel cost increases across the Asia-Pacific region.

Thailand is strengthening its environmental resilience, including measures to address the prolonged risk of El Niño weather patterns and heavier monsoon rains. The World Bank has highlighted the economic opportunity in valuing natural capital as part of Thailand’s next growth chapter, while Wood Group has secured a plastics recycling deal in the country. Read more via Energy Voice | World Bank

---

Expat Living and Cultural Diplomacy

Thailand continues to attract international residents and retirees drawn by its lower cost of living, warm climate, and quality lifestyle. A recent ABC feature followed a pensioner who relocated to Thailand for more affordable living, while multiple expatriate accounts highlight the country’s appeal for families seeking a slower, more connected pace of life.

Thailand is actively building its soft power and cultural presence globally, with the Sawasdee Seoul Thai Festival 2026 showcasing the country’s creative industries in South Korea. The CU Clarinet Ensemble will represent Thailand at ClarinetFest 2026, also held in South Korea, further cementing Thailand’s growing cultural diplomacy footprint across Asia. Read more via Australian Broadcasting Corporation | Asia News Network

Source : Google News – Search

Other People are Reading

Gold prices reversed course to drop more than 1% on Wednesday after the U.S. Federal Reserve held its benchmark interest rate steady but pointed to a hike in borrowing costs later this year, sending the dollar higher.

Spot gold was down 0.7% at $4,299.89 per ounce by 2:40 p.m. EDT (1840 GMT). U.S. gold futures settled 0.6% higher at $4,381.40.

Nine of the ‌U.S. central ⁠bank’s 19 ⁠policymakers now believe they will need to raise the policy rate this year, according to projections published on Wednesday after the Fed announced its decision to leave the policy rate in its current 3.50%-3.75% range.

In his inaugural press conference following his first policy meeting as Fed Chair, Kevin Warsh said he was launching five task forces to review how the central bank conducts its business in critical policy areas.

“This is a ⁠new Fed – ‌Warsh is sharp, sure, animated – he will be a steward and not a trustee. The message is changes are coming, but after due consideration,” ⁠said Tai Wong, an independent metals trader.

Also Read | Dollar jumps as Fed holds rates but projects one hike later this year
“He also said twice that he sees rates restrictive only in housing… which is making him more hawkish than Powell. I think that’s what’s driving market losses. The statement and dot plot are hawkish and Warsh did nothing to push back against it.”
Markets now see a 78% chance of a rate hike in December this year, jumping from 61% before the Fed decision, according to the CME FedWatch Tool.
The U.S. dollar ‌extended gains after the rate decision, making greenback-priced bullion more expensive for overseas buyers, while oil markets were also higher, keeping inflation concerns alive.

While gold is often seen as a ⁠hedge against inflation, elevated interest rates tend to pressure bullion, as it offers no yield.

Spot gold touched a more than six-month low last week as inflation fears stoked by the Iran conflict boosted expectations of rate hikes.

U.S. President Donald Trump said that the agreement reached this week with Iran was not final, and that he could resume a bombing campaign if he did not like it.

Silver fell 1.1% to $69.41 per ounce. Platinum lost 2% to $1,768.03, and palladium fell 1.1% to $1,336.91.