Good afternoon, wonderful people, and happy humpday. We have reached the midweek point as we approach the upcoming weekend and end of January (already).

THE BIG STORY TODAY

The EGX30 is now in bull market territory for 2024, with its year-to-date return rising to 21.9% after the index closed up 3.8% today, according to market data. The index also surpassed the 30k point threshold for the first time in its history.

THE BIG STORY ABROAD

The aftermath of the drone attack on a US base in Jordan is still dominating the international presswith preliminary reports suggesting that the drone may have been mistaken for a US one. Washington made it clear they plan on retaliating, but fears of expanding conflict in the region will determine how extreme of a response it will be as US President Joe Biden meets with national security to set a plan. The group responsible for the attack has yet to be identified. Iran already distanced itself from the attack, but US officials strongly suspect “the Iraq-based, Iran-backed” Kataib Hizbollah as being behind it. (Financial Times | Associated Press | Washington Post)

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⛅TOMORROW’S WEATHER- Look out for a partly cloudy day with a high of 15°C before dropping down to a low of 8°C in the evening, according to our favorite weather app.

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