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How major US stock indexes fared Friday, 12/6/2024
How the stock market defied expectations again this year, by the numbers NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The benchmark index posted its first back-to-back annual gains of more than 20% since 1998. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn’t just Apple, Nvidia and the like. Bitcoin and gold surged and “Roaring Kitty” reappeared to briefly reignite the meme stock craze. Stock market today: Stocks waver in thin trading after US markets reopen following a holiday pause Stocks are wavering on Wall Street in light trading as U.S. markets reopen following the Christmas holiday. The S&P 500 and Nasdaq composite were down by less than 0.1% in afternoon trading Thursday. The Dow Jones Industrial Average was up less than 0.1%. Gains in technology companies and retailers helped temper losses elsewhere in the market, including a pullback by some heavyweight Big Tech stocks. The Labor Department reported that U.S. applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Treasury yields fell. U.S. markets have historically gotten a boost at year’s end despite lower trading volumes. Israel strikes Houthi rebels in Yemen's capital while the WHO chief says he was meters away JERUSALEM (AP) — A new round of Israeli airstrikes in Yemen have targeted the Houthi rebel-held capital of Sanaa and multiple ports. The World Health Organization’s director-general said the bombardment on Thursday took place just “meters away” as he was about to board a flight in Sanaa. He says a crew member was hurt. The strikes followed several days of Houthi attacks and launches setting off sirens in Israel. Israel's military says it attacked infrastructure used by the Houthis at the international airport in Sanaa, power stations and ports. The Israeli military hasn't responded to questions about the WHO chief's statement. Holiday shoppers increased spending by 3.8% despite higher prices New data shows holiday sales rose this year even as Americans wrestled with still high prices in many grocery necessities and other financial worries. According to Mastercard SpendingPulse, holiday sales from the beginning of November through Christmas Eve climbed 3.8%, a faster pace than the 3.1% increase from a year earlier. The measure tracks all kinds of payments including cash and debit cards. This year, retailers were even more under the gun to get shoppers in to buy early and in bulk since there were five fewer days between Thanksgiving and Christmas. Mastercard SpendingPulse says the last five days of the season accounted for 10% of the spending. Sales of clothing, electronics and Jewelry rose. Finland stops Russia-linked vessel over damaged undersea power cable in Baltic Sea FRANKFURT, Germany (AP) — Finnish police say authorities detained a ship linked to neighboring Russia as they investigate whether it damaged a Baltic Sea power cable and several data cables. It was the latest incident involving disruption of key infrastructure. Police and border guards boarded the Eagle S and took control as they investigate damage to the Estlink-2 undersea power cable. The cable brings electricity from Finland to Estonia across the Baltic Sea. The cable went down on Wednesday. The incident follows damage to two data cables and the Nord Stream gas pipelines. Both have been termed sabotage. Russian ship that sank in the Mediterranean was attacked, owner says MOSCOW (AP) — The Russian operator of a cargo ship that sank in the Mediterranean Sea between Spain and Algeria says it has been hit by a series of explosions in an act of sabotage. Oboronlogistica is a state-controlled company that operated the Ursa Major freighter. The company said the vessel was wrecked by three powerful explosions just above the water line in what it described as a “terrorist attack” that caused it to sink on Monday. The company said in a statement carried by Russia’s state RIA Novosti news agency on Thursday that the explosions left a hole in the ship’s starboard and filled the engine room with acrid smoke. That hampered the crew’s attempts to access it. Undersea power cable linking Finland and Estonia hit by outage, prompting investigation FRANKFURT, Germany (AP) — Finland’s prime minister says authorities are investigating an interruption in a power cable under the Baltic Sea between his country and Estonia. Petteri Orpo said on X that power transmission through the Estlink-2 cable suffered an outage Wednesday. Authorities have been on edge about undersea infrastructure in the Baltic after two international data cables were severed in November and the Nord Stream gas pipelines between Russia and Germany were blown up in September 2022. Japan to maximize nuclear power in clean-energy push as electricity demand grows TOKYO (AP) — A Japanese government panel has largely supported a draft energy policy calling for bolstering renewables up to half of Japanese electricity needs by 2040. It also recommends maximizing the use of nuclear power to accommodate the growing demand for power in the era of AI while meeting decarbonization targets. Cabinet is expected to formally approve the plan by March following a period of public consultation. The policy says nuclear energy should account for 20% of Japan’s energy supply in 2040, with renewables expanded to 40-50% and coal-fired power reduced to 30-40%. Working Well: Returning to the office can disrupt life. Here are some tips to navigate the changes NEW YORK (AP) — Thousands of workers are facing an unsettling reality heading into 2025. After years of working from the comfort of home, they're being told it’s time to return to the office full-time for the first time since the coronavirus pandemic. That can bring a host of challenges, including losing time with family. Workers at Amazon, AT&T and other companies have been called back to the office five days a week. Experts have advice to share about how to navigate the changes when an employer calls you back to the office. Workers can convey what they need, seek flexibility and if all else fails, consider other options. US applications for unemployment benefits hold steady, but continuing claims rise to 3-year high WASHINGTON (AP) — The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. The US Labor Department reported Thursday that jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21. That’s fewer than the 223,000 analysts forecast. Continuing claims, the total number of Americans collecting jobless benefits, climbed by 46,000 to 1.91 million for the week of Dec. 14. That’s more than analysts projected and the most since the week of Nov. 13, 2021. Weekly applications for jobless benefits are considered representative of U.S. layoffs.
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This holiday season, many of our favorite celebrities celebrated in style. Whether they were home for the holidays, out partying, or cheering on their favorite football teams, some of these A-listers were in full holiday spirit. As the spirit of Christmas is still in the air, we've rounded up some of our favorite photos from the holidays — from cutesy, to lavish, to stylish. John Legend and Chrissy Teigen Singer John Legend and his wife, model Chrissy Teigen spent the holidays and London. In a photo shared to her Instagram page, the husband and wife duo are joined by their four children — Luna, Miles, Esti, and Wren — who are all dressed in adorable matching green and red plaid pajamas. The family's white stockings are hung upon a noir fireplace, and filled with candies and other goodies, and there are oodles of gifts under the tree. Needless to say, the kids sure had an adventurous Christmas. A post shared by chrissy teigen (@chrissyteigen) Miley Cyrus and Maxx Morando Grammy-winning singer Miley Cyrus spent Christmas with her musician boyfriend, Maxx Morando, as evidenced by a photo shared to social media. In the picture, Cyrus and Morando are joined by a loved one, as well as an adorable golden retriever. Behind them is a tree, with several gifts — including a PlayStation 5 and some Apple gear. With a new year underway, the "Flowers" hitmaker is looking forward to a prosperous 2025, as she is gearing up to release a new album. Miley Cyrus and her boyfriend Maxx Morando at Christmas 🎄 pic.twitter.com/aCZqonZCFJ — MileyUpdates | Fan Account (@MileyUpdates) December 26, 2024 "In everything I do I like to go ALL the way," Cyrus wrote on X (formerly Twitter) in December 2024. "Give it ALL I've got. ALL for it to come to an end, move on and start anew. At times it can be a heartbreaking process but I've always known the pieces to come back together and create something beautiful." Selena Gomez Though it's not entirely clear how Only Murders in the Building actress Selena Gomez spent her Christmas, she appears to have crossed off a bucket list item. In a photo shared to her story on Christmas Day, the "Look at Her Now" hitmaker posed for a selfie with How I Met Your Mother actor Josh Radnor. We imagine she and her fiancé music producer Benny Blanco kept some of their more intimate holiday moments private, however, if the gifts where on par with Blanco's epic marquise cut diamond ring proposal, we know they spent their holidays in luxury. Livvy Dunne LSU gymnast and mega-influencer Livvy Dunne spent Christmas in her hometown of New Jersey. In a photo shared to her Instagram Story on Christmas Day, Dunne is dressed in cozy pajamas and cuddled up with her golden retriever dog Roux. In another photo, she shared some of the gifts she received during Christmas, including a Lana Del Rey vinyl record, a portrait of Squidward from Spongebob Squarepants, and a bag containing David Yurman jewelry. What more could a new college grad ask for? Britney Spears It was a special Christmas for Britney Spears . This year, she reunited with her son Jayden. The "Gimme More" hitmaker took to Instagram to share a video featuring herself embracing Jayden. According to her post, this was her first time seeing her sons in two years. "Tears of joy and literally in shock everyday koo koo crazy so in love and blessed!!!," Spears wrote in the post's caption. "I'm speechless thank you Jesus!!!" A post shared by XILA MARIA RIVER RED (@britneyspears) Al Roker Today show anchor Al Roker spent Christmas Day with his family, who joined him for a photo wearing matching elf hats. And that's what was happening in his neck of the woods. A post shared by Al Roker (@alroker) Gwyneth Paltrow Gwyneth Paltrow enjoyed Christmas with her mother, Blythe Danner . The two ladies of cinema were joined by her daughter Apple and son Moses, whom she shares with Coldplay lead vocalist Chris Martin. A post shared by Gwyneth Paltrow (@gwynethpaltrow) LeBron and Savannah James The James family kept it cozy this Christmas. In a photo shared to Instagram, Los Angeles Lakers forward LeBron James is seen with his wife Savannah, and their three children — Bronny, Bryce, and Zhuri, as they are all dressed in matching red pajamas. A post shared by 👑 (@kingjames)
Princelings refer to the second generation of the founders of communist China. In a Dec. 14 interview with Chinese-language program “Pinnacle View” on NTD, a sister media outlet of The Epoch Times, Yuan Hongbing, a former Peking University law professor, talked about the letter. He said that Liu Yuan—a retired general and the son of a prominent first-generation CCP leader, Liu Shaoqi—allegedly authored the letter, warning that the CCP would face its demise if it continued on its current path under Party leader Xi Jinping. As the CCP’s first-ranking vice chairman, Liu’s father was once considered the successor of Chinese communist leader Mao Zedong before being purged during the Cultural Revolution. Yuan was Xi’s drinking buddy in the 1980s before Xi rose to power and has also maintained connections with some senior officials. Before Xi came to power in 2012, China followed the path set by Deng Xiaoping’s economic reform policies, which relaxed some state control in the technology and real estate sectors and opened part of the Chinese market to foreign investments. The princelings, of which Xi is a prominent member, became increasingly worried that if China continued on Deng’s path, the Party wouldn’t be able to continue ruling the country with the communist ideology and capitalist market under one roof. They feared this would ultimately lead people to abandon communism, causing China to break away from the CCP’s control. Consequently, Xi made a left turn in his economic policies. The letter warns that it would be a grave mistake for the CCP to expect the Chinese people to support the Party in any circumstance as they did during the late 1950s, when tens of millions died in the Great Famine, as the public’s mindset has drastically shifted. If such a crisis were to occur again, the author wrote, the CCP would face an inevitable overthrow. The author called the CCP’s efforts to unify Taiwan a failure and warned that a potential war with Taiwan would likely devastate much of China’s coastal provinces—its most developed regions—further destabilizing the CCP. The letter offers recommendations, including transforming the CCP into a social democratic party. However, Yuan expressed doubt. “The reality is that the CCP’s oppressive rule has caused immense suffering to the Chinese people—a grave injustice that will not be forgiven,” he said. “The princelings deeply fear that the CCP will collapse amid the widespread contempt of the people. They hope to avoid such a humiliating end for the Party.” Further, Yuan said the international community is “slowly moving away from its policy of appeasement toward the CCP’s regime.” “The era of hoping that the CCP will adhere to international norms or expecting any meaningful cooperation from the CCP must end,” he said. “Coexistence with the CCP is simply impossible—either communist rule will dominate the world or humanity will eventually eradicate the remnants of communism. There is no middle ground.”
US stocks tread water in thin trade, benchmark US yield ekes out new highMiddle East latest: Lebanon closes all its land border crossings with Syria except one( MENAFN - The Rio Times) The Mexican peso gains ground on Tuesday morning. The local currency advances at the start of a trading day expected to have reduced activity. Traders remain attentive to interest rate outlooks and Donald Trump's potential impact. The spot exchange rate stands at 20.1298 pesos per dollar. Compared to yesterday's official close of 20.2240 units, the peso shows a gain of 9.42 cents or 0.47 percent. The dollar price moves within a range of 20.2190 units maximum and 20.1236 minimum. The Dollar index (DXY) rises 0.04% to 108.08 units. Traders display a calm sentiment as the holiday period begins. The 2025 economic scenario primarily involves Trump's potential return to the White House and a less accommodative Fed monetary policy. Last week, the Fed cut interest rates by a quarter percentage point. They indicated a slower pace of reduction next year. In Mexico, Banxico also reduced its rate, hinting at more adjustments to come. Analysts from Banco Base expect the peso to fluctuate between 20.09 and 20.22 pesos per dollar for the rest of the session. Marginal Movements in the Mexican Stock Market The Mexican stock market shows marginal movements on Tuesday morning. Local stock indices decline at the start of a shorter-than-usual session. The S&P/BMV IPC, the leading index of the Mexican Stock Exchange, loses 0.01% to 49,444.79 points. The FTSE BIVA of the Institutional Stock Exchange drops 0.01% to 1,004.45 points. Most values within the benchmark index retreat. Volaris shares lead the losses, falling 2.16% to 15.40 pesos. Alsea follows with a 1.65% decrease to 43.960 pesos. The industrial Alfa drops 1.65% to 14.94 pesos. Investors expect lateral behavior as the S&P/BMV IPC seeks to consolidate current trading levels. The stock market anticipates low transaction volume and an early close of the trading day at 12:00 hours. These movements reflect the calm before the Christmas holiday, with traders balancing economic indicators and political considerations. MENAFN24122024007421016031ID1109028443 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
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