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The S&P 500 has dropped 7.9% since Inauguration Day, CFRA Research data shows.

The Portuguese grid operator — REN — is out with a diagnosis of what happened with the huge power outage today:

• Due to extreme temperature variations in the interior of Spain, there were anomalous oscillations in very high volatge lines, something called ‘induced atmospheric vibration’
• These osculations cause synchronization failures between the electrical systems
• It’s a complex phenomenon and there is a need to rebalance electricity flows internationally, it could take a week to fix

That’s fascinating.

Here is how DeepSeek explains it:

Induced Atmospheric Vibration (IAV) in high-voltage power lines refers to low-frequency oscillations (typically 0.1–10 Hz) caused by corona discharge effects near the conductors. Here’s a brief breakdown:

1. Cause:

   • When high-voltage lines operate near their corona inception threshold, ionization of surrounding air molecules occurs, creating space charges (ions and electrons).

   • Under
     certain conditions (e.g., high humidity, rough conductor surfaces),
     these charges interact with the electric field, generating periodic electrohydrodynamic (EHD) forces.

2. Mechanism:

   • The EHD forces induce pressure waves in the air, causing vibrations in the conductor or nearby objects (e.g., insulators).

   • Unlike aeolian vibration (caused by wind) or galloping (large-amplitude motion), IAV is driven purely by electrical-atmospheric coupling.

3. Effects:

   • Usually low amplitude but can contribute to fatigue over time.

   • May exacerbate other vibration modes or cause audible hum.

4. Mitigation:

   • Smooth conductor surfaces (e.g., polished or coated wires).

   • Optimized voltage gradients to minimize corona.

IAV
is less common than mechanical vibrations but is studied for its unique
electromechanical interactions. …

The vibrations can lead to fatigue cracks and loosened hardware.

This article was written by Adam Button at www.forexlive.com.

Veza raised $108 million in a new funding round, with participation from some of the leading cloud software vendors.

Socializing at work can be nerve wrecking, but connecting with colleagues is key for your wellbeing, says expert.

Sora Lee has secured jobs at Netflix, Meta and TikTok. Here’s her best career advice for anyone looking to level up.

Wall Street was looking at a muted open today after last week’s bounce.

The Secretary of State’s comments came after President Donald Trump questioned whether Russian President Vladimir Putin wants to “stop the war” against Ukraine.

April credit card data from Bank of America doesn’t show a slowdown in US consumer spending. If anything, there was a slight acceleration in early April after tariffs were announced.

1) This could be tariff front-running

2) Drops in consumer confidence haven’t led to less spending

There are certainly reasons to worry about the US and global economy but I think the layoffs need to come, or we need to signs of real inflation before the market wilts.

This article was written by Adam Button at www.forexlive.com.

The USDCHF is holding a more bullish bias in early trading today as buyers continue to lean against key technical support.

The pair remains above a swing area near 0.8269 and the rising 100-hour moving average, currently at 0.8263. This area has been a clear line in the sand for buyers, helping to stall downside momentum in recent sessions.

To open up more upside potential, buyers will need to push the price above the high from last week and the 38.2% retracement level of the move down from the March high, which comes in near 0.8350–0.8355. A break above that zone would give buyers more runway to the upside and shift the near-term technical bias even more in their favor.

Taking a broader look at the weekly chart, and all for going back to January 2015 comes in between 0.8333 and 0.8373. The floor includes low prices from 2015, 2023, and 2024. Earlier in April, the price fell below that floor area and has been able to stay below that level. On more upside momentum, getting above 0.8333 – 0.8373 is also a requirement to give the buyers more confidence (and disappoint the sellers on the failed break below the floor).

For now, staying above the 100-hour moving average and the swing area keeps the buyers in the driver’s seat at least in the short term. A break below would weaken the outlook and shift the focus back toward the 200-hour moving average at 0.8201.

Summary of Key Levels:

• Support: Swing area at 0.8269, 100-hour MA at 0.8263. Swing level between 0.8230 and 0.82389. 200 hour moving average of 0.8216

• Resistance: 0.8333 high from Friday. 38.2% retracement and swing highs near 0.83505. Swing area from the weekly chart between 0.8333 and 0.8373

This article was written by Greg Michalowski at www.forexlive.com.

From an interview with Reuters:

• In a normal armed conflict, both countries should refrain from using nuclear weapons
• Says would only use nuclear weapons if there is a direct threat to our existence

Great, just great. More war is just what the world needs, especially between a country with 1.4 billion people and another with 250 million.

This article was written by Adam Button at www.forexlive.com.