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U.S. stock futures were little changed Sunday night after the S&P 500 and Nasdaq Composite posted their third straight winning week, ahead of key inflation data due out this week. Dow Jones Industrial Average futures fell by 15 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures dipped 0.05% and 0.12%, respectively. > 24/7 San Diego news stream: Watch NBC 7 free wherever you are The S&P 500 and Nasdaq closed at fresh records Friday , rising 0.96% and 3.34% for the week, respectively. The Dow was the lone laggard, closing the week down 0.6%. Those moves come after the November jobs report showed stronger-than-expected growth, but not so much strength as to dent investor hopes the Federal Reserve will lower interest rates this month. The CME FedWatch Tool shows markets pricing in an 85% chance the target rate will be lowered by a quarter point at the conclusion of the Dec. 18 meeting. "Everything else is working exactly the way the Fed wants," Wharton School's finance professor Jeremy Siegel told CNBC's "Closing Bell" on Friday. "I think we're going to have one rate cut on that December 18 meeting, but truthfully, I think only two or three rate cuts next year. I think this strength could last." The Fed is now in a blackout period ahead for commentary of its policy-setting meeting, but investors will get one final piece of insight into their decision-making with key inflation data set to be released this week . The November consumer price index, due out Wednesday, is expected to show a slight uptick in pricing pressures. Economists polled by Dow Jones expect a 0.3% and 2.7% monthly and yearly increase, respectively. That would be up from 0.2% and 2.6%, respectively, from the prior month. Money Report Biden says U.S. will support Syria and its neighbors after Assad dynasty collapses President-elect Trump says Ukraine to ‘possibly' receive less military aid On Monday, investors will await October wholesale inventories data, due at 10 a.m. ET. Corporate earnings continue on Monday, with Oracle's results expected after the close. Stock futures open little changed Stock futures opened little changed Sunday night. Dow Jones Industrial Average futures fell by 15 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures dipped 0.05% and 0.12%, respectively. — Sarah Min Also on CNBC How much holiday cheer is too much? Investor enthusiasm running high The Fed is on course to cut rates in December. What happens next is anyone's guess Next week’s inflation data could derail a market that’s priced for perfection
Biden calls for Assad to be 'held accountable'
Mr Biden told African leaders the resource-rich continent of more than 1.4 billion people had been “left behind for much too long”. “But not anymore,” Mr Biden added. “Africa is the future.” Mr Biden used the third and final day of a visit to Angola – his long-awaited, first trip to sub-Saharan Africa as president – to travel to the coastal city of Lobito and tour an Atlantic port terminal that’s part of the Lobito Corridor railway redevelopment. Mr Biden described it as the largest US investment in a train project outside America. The US and allies are investing heavily in the project that will refurbish nearly 1,200 miles of train lines connecting to the mineral-rich areas of Congo and Zambia in central Africa. The corridor, which likely will take years to complete, gives the US better access to cobalt, copper and other critical minerals in Congo and Zambia that are used in batteries for electric vehicles, electronic devices and clean energy technologies that Mr Biden said would power the future. China is dominant in mining in Congo and Zambia. The US investment has strategic implications for US-China economic competition, which went up a notch this week as they traded blows over access to key materials and technologies. The African leaders who met with Mr Biden on Wednesday said the railway corridor offered their countries a much faster route for minerals and goods – and a convenient outlet to Western markets. “This is a project that is full of hope for our countries and our region,” said Congo President Felix Tshisekedi, whose country has more than 70% of the word’s cobalt. “This is not just a logistical project. It is a driving force for economic and social transformation for millions of our people.” The leaders said the corridor should spur private-sector investment and improve a myriad of related areas like roads, communication networks, agriculture and clean energy technologies. For the African countries, it could create a wave of new jobs for a burgeoning young population. Cargo that once took 45 days to get to the US – usually involving trucks via South Africa – would now take around 45 hours, Mr Biden said. He predicted the project could transform the region from a food importer to exporter. It’s “something that if done right will outlast all of us and keep delivering for our people for generations to come,” he said. The announcement of an additional $600 million took the U.S.’s investment in the Lobito Corridor to 4.0 billion dollars (£3.15 billion).
Ousted Syrian leader Assad flees to Moscow after fall of Damascus, Russian state media say DAMASCUS, Syria (AP) — Russia media say ousted Syrian leader Bashar Assad has fled to Moscow and received asylum from his longtime ally. The reports came hours after a stunning rebel advance swept into Damascus to cheers and ended the Assad family’s 50 years of iron rule. Thousands of Syrians poured into streets echoing with celebratory gunfire, joyful after a stifling, nearly 14-year civil war. But the swiftly moving events raised questions about the future of the country and the wider region. The rebels face the daunting task of healing bitter divisions in a country still split among armed factions. One rebel commander said “we will not deal with people the way the Assad family did." The fall of Bashar Assad after 13 years of war in Syria brings to an end a decades-long dynasty BEIRUT (AP) — Syrian President Bashar Assad has fled the country. Assad’s departure on Sunday brings to a dramatic close his nearly 14-year struggle to hold onto power in a brutal civil war that became a proxy battlefield for regional and international powers. Assad’s exit stood in stark contrast to his first months as Syria’s unlikely president in 2000, when many hoped he would be a young reformer after three decades of his father’s iron grip. But faced with protests of his rule that erupted in March 2011, Assad turned to his father's brutal tactics to crush dissent. A long stalemate was quickly broken when opposition groups in northwest Syria launched a surprise offensive late last month. Who is Abu Mohammed al-Golani, the leader of the insurgency that toppled Syria's Assad? BEIRUT (AP) — Abu Mohammed al-Golani, the militant leader who led the stunning insurgency that toppled Syria’s President Bashar Assad, has spent years working to remake his public image and that of his fighters. He renounced longtime ties to al-Qaida and depicts himself as a champion of pluralism and tolerance. The extent of that transformation from jihadi extremist to would-be state builder is now put to the test. The 42-year-old al-Golani is labeled a terrorist by the United States. He has not appeared publicly since Damascus fell early Sunday. But he and his insurgent force, Hayat Tahrir al-Sham, stand to be a major player in whatever comes next. Trump says he can't guarantee tariffs won't raise US prices and won't rule out revenge prosecutions WASHINGTON (AP) — Donald Trump says he can’t guarantee his promised tariffs on key U.S. foreign trade partners won’t raise prices for American consumers. And he's suggesting once more that some political rivals and federal officials who pursued legal cases against him should be imprisoned. The president-elect made the comments in a wide-ranging interview with NBC’s “Meet the Press” that aired Sunday. He also touched on monetary policy, immigration, abortion and health care, and U.S. involvement in Ukraine, Israel and elsewhere. Trump often mixed declarative statements with caveats, at one point cautioning “things do change.” The hunt for UnitedHealthcare CEO's elusive killer yields new evidence, but few answers NEW YORK (AP) — Police don’t know who he is, where he is, or why he did it. As the frustrating search for UnitedHealthcare CEO Brian Thompson’s killer got underway for a fifth day Sunday, investigators reckoned with a tantalizing contradiction: They have troves of evidence, but the shooter remains an enigma. One conclusion they are confident of, however: It was a targeted attack, not a random one. On Sunday morning, police declined to comment on the contents of a backpack found in Central Park that they believe was carried by the killer. Thompson was shot and killed Wednesday outside of a hotel in Manhattan. Trump calls for immediate ceasefire in Ukraine and says a US withdrawal from NATO is possible WASHINGTON (AP) — Donald Trump is pushing Russian leader Vladimir Putin to act to reach an immediate ceasefire with Ukraine. Trump describes it as part of his active efforts as president-elect to end the war despite being weeks from taking office. Trump also said he would be open to reducing military aid to Ukraine and pulling the United States out of NATO. Those are two threats that have alarmed Ukraine, NATO allies and many in the U.S. national security community. Ukrainian President Volodymyr Zelenskyy says any deal would have to pave the way to a lasting peace. The Kremlin's spokesman says Moscow is open to talks with Ukraine. South Korean prosecutors detain ex-defense chief over martial law imposition SEOUL, South Korea (AP) — South Korean prosecutors have detained a former defense minister who allegedly recommended last week’s brief but stunning martial law imposition to President Yoon Suk Yeol. Local media say that ex-Defense Minister Kim Yong Hyun voluntarily appeared on Sunday at a Seoul prosecutors’ office, where he had his mobile phone confiscated and was detained. A law enforcement official says Kim was later sent to a Seoul detention facility. Kim's detention came a day after Yoon avoided an opposition-led bid to impeach him, with most ruling party lawmakers boycotting a floor vote to prevent a two-thirds majority needed to suspend his presidential powers. Gaza health officials say latest Israeli airstrikes kill at least 14 including children DEIR AL BALAH, Gaza Strip (AP) — Palestinian health officials say Israeli airstrikes in central Gaza have killed at least 14 people including children, while the bombing of a hospital in northern Gaza has wounded a half-dozen patients. Israel’s military continues its latest offensive against Hamas militants in northern Gaza, whose remaining Palestinians have been almost completely cut off from the rest of the territory amid a growing humanitarian crisis. One airstrike flattened a residential building in the urban Bureij refugee camp Sunday afternoon. That's according to the Al-Aqsa Martyrs Hospital in the nearby city of Deir al-Balah, where the casualties were taken. Trump's return may be a boon for Netanyahu, but challenges abound in a changed Middle East TEL AVIV, Israel (AP) — Israeli Prime Minister Benjamin Netanyahu is jubilant about President-elect Donald Trump's return to the White House. Trump's first term policies skewed heavily in favor of Israel, and he has picked stalwart Israel supporters for key positions in his administration. But much has transpired since Trump left office in early 2021. The turmoil in the Middle East, the lofty ambitions of Netanyahu’s far-right governing coalition and Netanyahu’s own personal relationship with the president-elect could dampen that enthusiasm and complicate what on the surface looks like a seamless alliance. First 12-team College Football Playoff set, Oregon seeded No. 1 and SMU edges Alabama for last spot SMU captured the last open spot in the 12-team College Football Playoff, bumping Alabama to land in a bracket that placed undefeated Oregon at No. 1. The selection committee preferred the Mustangs (11-2), losers of a heartbreaker in the Atlantic Coast Conference title game, who had a far less difficult schedule than Alabama (9-3) of the SEC but one fewer loss. The first-of-its-kind 12-team bracket marks a new era for college football, though the Alabama-SMU debate made clear there is no perfect formula. The tournament starts Dec. 20-21 with four first-round games. It concludes Jan. 20 with the national title game in Atlanta.Secrets inside Noel and Sue Radford's £7k Christmas - from 60 Yorkshire puddings to multiple treesTraders work on the floor of the New York Stock Exchange, in New York City. NEW YORK - Wall Street stocks surged to fresh records Dec 4, extending a post-election rally on optimism about more interest rate cuts and for an artificial intelligence boom after strong Salesforce results. All three major indices scored records, led by the Dow Jones Industrial Average, which finished above 45,000 for the first time. “The market at this point is looking for excuses to go up, and there’s not really anything that might work against that narrative,” said Mr Steve Sosnick of Interactive Brokers. “Over the last couple of days, it’s managed to ignore all sorts of inconvenient things,” Mr Sosnick said of the market’s shrugging response to political upheaval in France and South Korea. The Dow Jones Industrial Average finished up 0.7 per cent at 45,014.04. The broad-based S&P 500 gained 0.6 per cent to 6,086.49, its fourth straight record, while the tech-rich Nasdaq Composite Index jumped 1.3 per cent to 19,735.12, its third straight record. Wednesday’s gains came after payroll firm ADP said US private-sector hiring in November came in at a lower-than-expected 146,000 jobs, while a survey from the Institute for Supply Management showed weaker sentiment than expected in the services sector. But the lacklustre data boosts expectations that the Federal Reserve will cut interest rates later in December. At a New York conference, Federal Reserve chairman Jerome Powell refrained from tipping his hand, but he “didn’t say anything that would scare the market,” said Briefing.com analyst Patrick O’Hare. Mr O’Hare noted that the Dec 4 gains were led by large tech names such as Nvidia and Microsoft, which are major AI players. The boost followed strong results from Salesforce, which was the biggest gainer in the Dow with an 11 per cent jump. AFP Join ST's Telegram channel and get the latest breaking news delivered to you. Read 3 articles and stand to win rewards Spin the wheel now
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