Wall Street posts its fifth-straight week in the green with the S&P 500 breaching the 5,000-point mark for the first time. We hear exclusively from IMF managing director Kristalina Georgieva who warns about the need for China to introduce economic reforms and stabilise its property sector. NATO leaders baulk at comments made by former President Donald Trump saying he would not support allies who did not honour defence spending commitments in the face of an attack by Russia. Italian luxury fashion brand Tod’s has announced it will delist from the Milan stock exchange and go private in a deal with LVMH-backed PE group L-Catterton, valued at approximately €1.4bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P 500 posts its ninth record session this year, briefly breaching the 5,000-point milestone. Similarly in Asia, the Nikkei hits 37k for the first time in 34 years before pulling back while Hong Kong equities are in the red at the start of the Lunar New Year. Disappointing sales for L’Oréal as northern Asian markets slump, with the French cosmetics posting a miss on sales and profits. In the U.S., President Biden dodges a Special Counsel report about his handling of classified documents and berates reporters for questioning his mental acuity.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

German engineering giant Siemens posts a 56 per cent rise in Q net income and boasts an order book of more than €22bn. CEO Roland Busch says the China market remains a concern. Shares in chip maker ARM are up 40 per cent in after-hours trade after the firm hiked guidance on strong A.I. demand. ARM’s major shareholder Softbank also posts a $16bn gain in earnings. Disney hikes its forecast and announces its foray into gaming, investing $1.2bn in Fortnite maker Epic Games. In China, producer prices fall for a sixteenth consecutive month while consumer prices have their steepest fall since 2009. On Wall Street, the S&P 500 records another record high – just five points shy of the 5,000-mark.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Moody’s cuts its rating on New York Community Bankcorp to junk status, causing its shares to nose-dive to their lowest level since 1997. However, the U.S. regional lender remains adamant, saying ‘ample’ liquidity of more than $37bn. Snap shares fall by more than 30 per cent in extended trade after missing earnings expectations in the fourth quarter. The company says that the Middle East turmoil is creating headwinds. Siemens Energy confirms its outlook after posting a 24 per cent jump in orders. It said it would remain focused on rectifying problems with its offshore wind business, Gamesa. In Italy, a controversial capital markets reform bill is sent to the Senate after the Chamber of Deputies approves measures to attract more listings in the country. And in aviation news, Boeing admits it must perform better after an initial NTSB report said four key bolts were missing from the plug door of an Alaska Airlines 737 Max which blew out mid-air.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UBS posts a better-than-expected Q4 net loss of $279m. U.S. markets are in the red as the 2-years Treasury yield reaches a one-month high as strong services numbers pushes back expectations of an early Fed rate cut. In China, authorities move to mitigate a slump in the stock market helping both the Hong Kong and Shenzhen indices up. In pharma news, Novartis buys up cancer treatment firm MorphoSys while Novo Nordisk snaps up a key manufacturing sub-contractor for its obesity drug WeGovy. BoE chief economist Huw Pill says it is a matter of when, not if, the central bank moves to cut rates after retail sales slow in January.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Money markets temper expectations for a March cut after Fed Chair Jerome Powell warns of moving too fast too soon - saying he wants to see more data to confirm that inflation is headed down to 2%. U.S. yields jump following a stellar payrolls report, as hiring hits 353,000 in January - nearly twice the forecast. The wild ride in Chinese stocks stretches into a new week, with the Shanghai Composite hitting a fresh 52-week low despite efforts from regulators to calm the situation. And The U.S. launches more strikes against Iran-backed groups in the Middle East in retaliation for an attack on a base in Jordan, as White House National Security Adviser Jake Sullivan warns this is just the beginning.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Apple beats on the top and bottom line in Q1 but weakness in China weighs and executives warn of falling iPhone sales. Meta sees its market cap balloon by $140bn after shares soared in after-hours trading following strong quarterly results. The tech giant also unveiled its inaugural dividend payout. Amazon posts record Q4 operating income following cost-cutting measures. Its cloud service AWS grew revenue by 13 per cent. BoE Governor Andrew Bailey suggests that markets could be correct in predicting the rate cut timeline after the central bank kept rates steady in the first three-way split since 2008. And in the U.S., the Dow enjoys its best week since mid-December as investors anticipate today’s non-farm payroll data.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Federal Reserve Chairman Jerome Powell dampens investor hopes of a much-anticipated rate cut in March with the S&P 500 suffering its worst session since September. French lender BNP Paribas disappoints, posting a Q4 profit of just over €1bn on higher provisions. The bank also pares back its profitability targets. In retail, Adidas predicts profits will almost double in 2024 to €500m following the sportswear titan’s controversial split with rapper Kanye West. And we hear from a slew of European CEOs today with Q4 corporate earnings in full swing.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Disappointing advertising revenues push Alphabet shares into the red in extended trade despite the tech giant posting its fastest quarter for revenue growth since early 2022. Microsoft beats on the top and bottom line, enjoying its highest profit growth in more than two years but guidance for the current quarter is lukewarm. In the U.S., a Delaware judge rules against Tesla CEO Elon Musk’s $56bn pay package calling it ‘deeply flawed’, arguing that the board of directors had failed to prove it was fair. Shares in the EV maker slid around 3 per cent in extended trade. Chinese factory activity suffers its fourth straight month of contraction but the IMF’s Chief Economist Pierre-Olivier Gourinchas tells CNBC the country is exhibiting some signs of resilience.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Both the Dow and S&P 500 notch their sixth record session for the year as the U.S. Treasury slashes its Q1 borrowing guidance. Investors Stateside are now anticipating mega-cap tech earnings. In Hong Kong, tech and property firms drag stocks lower. Asian indices bar Japan are set to now break a two-month winning run. Car giant Renault cancels plans to list its EV unit due to poor market conditions and slowing uptake throughout Europe. Gambling giant Flutter debuts on the NYSE and now plans to make Wall Street its home in what appears to be yet another blow to the LSE.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asia markets are in the green following a record close for the Dow on the back of personal consumption expenditure falling below 3 per cent for the first time in almost three years. Share of Chinese property giant Evergrande are stopped from trading after a the Hong Kong High Court orders the liquidation of the developer. Swiss building materials firm Holcim is to spin off and list its North American arm on Wall Street with a target valuation pf $30bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

French luxury giant LVMH smashes expectations to post almost $24bn in Q4 sales on rebounding Chinese demand. CEO Bernard Arnault has urged the need to focus on quality over quantity. On Wall Street the S&P 500 hits a record high to close in the green for a fifth consecutive session while the Dow also scores a new record peak on the back of stronger-than-expected economic growth Stateside. Tesla shares sink the most in a year with the EV maker seeing $80bn wiped off its valuation as demand weakens. And in tech news, Intel also sees a fall in its share price in extended trade as poor demand for data centre chips affect Q1 guidance. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla earnings disappoint, sliding by 40 per cent in Q4. The EV maker has warned of weaker sales throughout 2024. Meanwhile, streaming giant Netflix sees shares hit double digits, helping the Nasdaq along with 34 points as new subscribers topped 13 million for the quarter. In aviation news, the FAA has limited production of Boeing 737 Max 9 jets but has approved existing craft for service with the first planes expected to fly from tomorrow. And we are counting down to the ECB’s first rate decision of 2024 where investors expect a ‘hold’ and more guidance on the future path of cuts.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Netflix shares are up in extended trade as the streaming giant boosts subscriber numbers and revenue beats expectations. The company has also inked a $5bn deal to stream live WWE. Former U.S. President Donald Trump secures victory in the New Hampshire primary over Nikki Haley who has refused to bow out of the race to become GOP presidential nominee. The contest will now move to Haley’s home state of South Carolina in late February. German software titan SAP announces a €2bn streamlining project which could affect up to 8,000 jobs in order to focus more directly on A.I. ambitions. In Ankara, the Turkish parliament finally ratifies Sweden’s NATO membership bid with Hungary’s approval now the remaining obstacle.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow hits a record 38,000 points for the first time as major U.S. indices finish in the green for a second consecutive session ahead of a number of corporate earnings this week. The Nikkei follows suit in Japan – its highest level since 1990 - after the BoJ maintains its ultra-loose monetary policy. It has, however, cut its FY 2024 guidance. Israel has offered a two-month ceasefire with Hamas in Gaza in exchange for the release of 130 hostages. Hamas has demanded a full Israeli withdrawal from the Strip. And in Hong Kong, shares are surging after Chinese authorities consider a trillion-yuan rescue package for the country’s declining stock market.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. markets are in the green with the S&P 500 surging to a new record high on the back of positive consumer data. In U.S. politics, Florida governor Ron DeSantis bows out of the race to become the GOP presidential candidate two days before the New Hampshire primary, endorsing former president Donald Trump. Former UN ambassador Nikki Haley is now Trump’s sole challenger for the nomination. United Airlines cancels all flights using Boeing’s troubled 737 Max 9 model. Meanwhile, the FAA has urged all carriers to carry out door plug checks on yet another Boeing model – the 900ER. And in Europe, cities across Germany see a second week of mass protest against an AfD ‘re-migration’ policy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We are live in Davos where Ukrainian foreign minister Dmytro Kuleba tells CNBC he feels reassured by the Biden administration’s commitment to military aid for his country and that the tone of discussions remains constant. U.S. jobless claims hit a 16-month low while U.S. Tech stocks fuel a rebound on Wall Street. The Dow and the S&P 500, however, are set for their second negative week in three. In the Red Sea, Houthi rebels hit a U.S. owned commercial vessel just hours after President Joe Boden talks down the effectiveness of strikes on Yemen. KSA finance minister Mohammed Al-Jadaan tells this channel his country is desperate to de-escalate tensions in the region. Former BoE governor Mark Carney claims that whatever the result of the U.S. elections this November, the President will be faced with a rapidly transforming energy and intelligence scenario. In Washington, U.S. lawmakers manage to avert a partial government shutdown until March passing a stop-gap bill. And in M&A news, online community site Reddit is reportedly eyeing an IPO in early March, putting up to 10 per cent of its stock for sale.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

European equities react negatively following hawkish comments from ECB President Christine Lagarde who warns not to expect interest rate cuts until the summer. In Davos we hear from outgoing Dutch Prime Minister Mark Rutte who says centrist parties in Europe must be clearer on tough issues in the face of populist party challenges. We also speak to UK Shadow Chancellor Rachel Reeves who is positioning Labour as a pro-business party, with no plans to increase income tax. French President Emmanuel Macron issues a rallying cry for the EU project but bemoans the bloc’s fragmentation. Tech giant Apple will remove a blood oxygen feature from Apple watches after an appeals court reinstates a U.S. sales ban following an I.P. dispute with med-tech firm Masimo.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China manages to attain its FY GDP targets, however its weak property sector and a fourth quarter miss drags on Asian equities. In Davos, we hear from Polish President Andrzej Duda who says he is not surprised that Ukraine refuses face-to-face talks with Moscow and warns military spending must increase in order to ward off Russian aggression in Europe. The U.S. launches fresh strikes on Houthi rebels in Yemen while the Iranian foreign minister tells CNBC that America is the root cause of the current tensions in the Middle East and Red Sea. Google CEO Ruth Porat says A.I. is the ‘great equaliser’, with the potential to help both the developed and developing world in areas of healthcare and food security. The U.S. 10-year Treasury yield tops 4 per cent after the Fed’s Christopher Waller calls for a more cautious approach to rate cuts later this year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Former U.S. President Donald Trump wins a resounding victory in the Iowa caucus, solidifying his position as the GOP presidential frontrunner. Florida governor Ron DeSantis pips Nikki Haley to second place while Vivek Ramaswamy bows out of the race. We are live in Davos at the World Economic Forum where ECB board member Robert Holzmann tells CNBC exclusively that the central bank may not cut interest rates at all this year. Holzmann warned those expecting cuts may be ‘deeply disappointed’. Meanwhile, IMF managing director Kristalina Georgieva says she expects a soft landing for the global economy but that central banks are still exposed to risk this year. In the Gulf of Aden, Houthi rebels hit a U.S. owned commercial ship following last week’s U.S. and UK airstrikes. And in Hong Kong, the Hang Seng leads declines while the Dow is likely to open 100 points lower following the MLK Day long weekend.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Taiwan’s incumbent Democratic Progressive Party win a historic third term in office with incoming president Lai Ching-te resisting pressure for reunification with China. The Nikkei rallies to breach 36,000 points for the first time in almost 34 years while Wall Street posts its tenth week in the green out of eleven. U.S. banks kick off earnings season. JPMorgan and Bank of America both see a drop in profits while Citi also posts losses for the quarter. Former U.S. president Donald Trump leads GOP rival Nikki Haley by 28 points in the final NBC poll ahead of today’s Iowa caucus. And we are live in Davos, Switzerland where Ukraine peace talks have ended with scant progress, with the Russian contingent once again absent. We hear from the Ukrainian president’s chief of staff, Andriy Yermak, who says the current administration will never accept a frozen conflict.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Crude prices surge following U.S. and UK strikes on Houthis targets in western Yemen in response to continued attacks on commercial vessels in the Red Sea. In the U.S., CPI data comes in higher than expected. The Dow reaches a new intra-day high before closing the session flat. Chinese export data is up by more than expected for December but deflationary pressures persist with consumer prices falling for their longest streak since 2009. Airbus maintains its lead over Boeing for the fifth straight year. CEO Christian Scherer hails the ‘remarkable’ demand for its planes. And we are live in Taipei ahead of Saturday’s presidential election which is seen as pivotal in shaping Chinese-Western relations.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a monumental day for crypto with the SEC finally approving spot Bitcoin ETFs. Up to 11 funds are due to start trading as soon as today. Speaking to CNBC, Ark Invest President Tom Staudt says the asset class will now have a far greater reach among investors. U.S. markets are in the green with the Dow recording its fourth positive session in five ahead of today’s inflation data. Asian equities ride the green wave with Hong Kong’s Hang Seng leading the charge. The Nikkei 225 breaches the 35,000 level for the first time since 1990. In aviation news, Alaska Airlines and United cancel further flights following last week’s 737 Max 9 blow-out incident. Boeing CEO Dave Calhoun tells our colleagues stateside that the investigation will be pivotal.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow snaps a three-day winning streak despite chip maker Nvidia hitting a new all-time record. In Asia, Japan’s Nikkei 225 breaches the 34,000-point mark for the first time in 34 years. The SEC deletes a post on X which claimed crypto ETFs had been approved, with Bitcoin seesawing as a result. The World Bank says global growth is on track for its slowest half-decade in 30 years. Its Deputy Chief Economist Ayhan Kose tells CNBC that financing conditions around the world will remain ‘restrictive’ for the foreseeable future. In the fall-out from the 737 Max 9 mid-air blow-out, Boeing CEO Dave Calhoun tells staff such an incident can never happen again and acknowledges mistakes had been made by the plane maker. And in France, 34-year-old Gabriel Attal becomes the country’s youngest ever Prime Minister as President Macron seeks to reinvigorate his cabinet. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chip giant Nvidia hits an all-time share price high on Wall Street, helping to push the Nasdaq since its best day since November. Boeing shares fall after Alaska Airlines and United both find loose bolts on parts of multiple 737 Max 9 planes. French Prime Minister Elisabeth Borne resigns ahead of an expected cabinet reshuffle by President Emmanuel Macron. In crypto news, Bitcoin breaches $47k for the first time in 21 months as hopes grow of an expected approval of a Bitcoin ETF. In South Korea, weak demand and a worse-than-expected profit slump has forced Samsung to revise its Q4 guidance on, causing shares to slide.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

More than 170 Boeing 737 Max 9 are grounded temporarily by the FAA following an incident on an Alaska Airlines flight which saw a side panel blow off in mid-air. Wall Street records its first week in the red in ten following a stronger-than-expected U.S. jobs report for December. Oil is down after three weeks of gains in the past month as Saudi Arabia cuts crude prices to their lowest levels in more than two years. U.S. Secretary of State Antony Blinken is in the Middle East on what is his fourth visit since the October 7th attacks in Israel. He is due to hold talks with officials in the UAE and Saudi Arabia before heading for Tel Aviv in a bid to ease ‘profound tension’ in the region. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities continue their tough start to 2024 with the Nasdaq on its longest losing run since 2022. Private hiring in the U.S. is up for December with wage growth slowing ahead of today’s NFP data. The ADP’s chief economist Nela Richardson tells CNBC this trend is set to continue. Exxon says it will take a $2.6bn write-down over idled assets in California while Chevron CEO Michael Wirth tells our colleagues Stateside that oil and gas demand is only set to grow. And in tech news, Apple sees shares nosedive and market cap valuation falling by almost $170bn since the start of the year following Piper Sandler’s downgrade of the company – its second this week.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow plunges almost 300 points on the back of perceived Fed hesitation with minutes showing uncertainty about rate cuts. Richmond Fed President Thomas Barkin told CNBC colleagues Stateside he will not rule out hikes. Chinese services activity hit a five-month high but this is offset by a poor employment report which has led to calls for more monetary easing. Disney wins the backing of twin hedge funds as it attempts to see off challenges from activist investor Nelson Peltz. Spanish telco Telefonica agrees a deal with unions as it launches a cost-cutting drive affecting up to 20 per cent of its workforce. And in energy news, markets are on edge with oil spiking following a bomb attack in Iran which killed around 100 people.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Wall Street Santa rally fizzles out with the Nasdaq posting its worst first trading day since 2016. Apple shares fall after Barclays cuts its rating to ‘underweight’. Shipping giant Maersk halts Red Sea shipping, prolonging its 2-day pause indefinitely following sustained attacks on vessels from Houthi rebels. Lebanon’s Prime Minister accuses Israel of attempting to drag the country into the conflict following the drone assassination of a senior Hamas leader in Beirut. In autos news, Tesla loses out to China’s BYD as the world’s top EV maker in the final three months of 2023. It did however retain its crown for the full year. The bull run continues for Bitcoin, breaking through the $45k mark with optimism seemingly growing for an ETF later this year.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese equities begin 2024 in the red with official manufacturing activity contracting, despite a private survey showing the sector accelerating at its fastest pace in 7 months. At least 30 people have died in western Japan following a 7.6-magnitude earthquake. Many are believed to be trapped in the rubble and thousands of homes are without power. Oil is up after Iran sends a warship to the Red Sea following the sinking of three Houthi rebel boats by the U.S. And in tech news, the Netherlands blocks certain ASML chip exports to China one day after Chinese President Xi Jinping says he is willing to stabilise trade relations with Washington D.C.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

All three major indices keep Wall Street firmly in the green ahead of the final trading day of the year. The Dow pushes higher and the S&P 500 is close to a fresh record high while A.I.-related stocks help to drive the Nasdaq 100 to its best run not seen since 1999. Europe follows suit with double-digit gains. The U.S. state of Maine joins Colorado in barring former President Donald Trump from the its primary ballot. Trump has hit back at the ‘attempted theft of an election’. And new shipping industry data emerges showing 50 per cent of Red Sea container traffic is now re-routing vessels over fears of Houthi rebel attacks.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street is on course to post an eight-week winning street with the Dow hitting a new closing high and the S&P 500 not far off its own record peak. The NYT sues Microsoft and OpenAI in a billion-dollar suit over copyright infringement. Apple wins a major legal victory after a U.S. appeals court rules to pause a government import ban on two of its watches. The tech giant had been in an intellectual property dispute with medtech firm Masimo. And in the UK, the government has confirmed the spring Budget will happen on March 6th.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Wall Street Santa rally extends its eight-week winning streak with bets on a March Fed rate cut boosting stocks. In China, November industrial profits are up by almost 30 per cent for November thanks to a variety of government stimulus measures. However, the numbers are still behind 2022 for the year at this point. In Hong Kong, gaming stocks lead the way as Beijing regulators confirmed they would re-consider draft rules aimed at curbing online play and spending. Oil spikes following a Houthi attack on an MSC United vessel in the Red Sea. The company is now re-routing shipments around southern Africa.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Santa rally is back on but European indices fail to follow suit with UK GDP receiving a downward revision signalling a potential recession next year. Sportswear giants in Europe see declines in early trade following Nike’s revenue forecast cut. The brand has unveiled a $2bn cost-cutting initiative which has knocked 10 per cent from its U.S. share price. Chinese authorities issue new spending and time rewards for online gaming, pulling Hong Kong’s Hang Seng index into the red. U.S. President Joe Biden has joined other American lawmakers in demanding closer scrutiny of Nippon Steel’s proposed $15bn takeover of iconic U.S. Steel.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Wall Street Santa rally hits a wall with the Dow and the Nasdaq breaking a nine-day winning streak. The S&P 500 records its worst session since September. In media news, CNBC sources claim Warner Bros./Discovery and Paramount have launched merger talks in what could be a landmark mega-deal to gain market share in the streaming industry. Toyota sees shares nose-dive following a major U.S. recall due to a suspected airbag sensor fault. And we hear from French sports minister Amélie Oudéa-Castéra who says next summer’s Paris Olympics could generate up to €10bn and create 180,000 jobs as the city puts the finishing touches to the world’s biggest sporting event.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Santa Rally accelerates with the S&P 500 nearing a new record high and Dow soaring more than 200 points in what was its ninth consecutive session in the green. The U.S. and its allies consider airstrikes against Houthi forces as part of Operation Prosperity Guardian to protect merchant vessels in the Red Sea. Maersk CEO Vincent Clerc tells our colleagues Stateside the security of his crews is paramount. In Europe, new car registrations pick up almost 7 per cent in November with French and Italian data offsetting a slump in Germany. And in logistics news, weak demand prompts Fedex to slash its FY guidance, causing the share price to tumble.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In Asia, equities are in the green with the Nikkei leading the way at the close but the Japanese yen dips as the BoJ is to maintain its ultra-loose monetary policy with no hint of when it will end its negative rate strategy. The Dow and the Nasdaq close narrowly up for the eighth straight session following more dovish predictions about 2024 rate cuts. Chicago Fed President Austan Goolsbee says he is perplexed by market reactions. In the Red Sea, the U.S. spearheads an international maritime operation to protect merchant shipping lanes from drone and missile attacks by Iranian proxies. BP has announced it will be rerouting its tankers in the region. In banking news, activist investor Cevian reveals a €1.2bn stake in Swiss lender UBS following its rescue of Credit Suisse in March. And Apple is scrambling to resolve an IP dispute with a medical technology firm which is holding up U.S. sales of its watches, less than a week before Christmas.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s a seventh consecutive week in the green for Wall Street as rate cut optimism continues to grow. However, New York Fed President John Williams tells CNBC that markets should not be too hasty. Shipping titans MSC, Maersk and Hapag-Lloyd say they will stop travelling through the Suez Canal following a spate of attacks on cargo ships in the Red Sea. Germany, France and the UK have called for a ceasefire in Gaza after three Israeli hostages were killed over the weekend. Chinese AI firm SenseTime shares hit a record low following reports its founder has been found dead.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We are live in Brussels where EU leaders have failed to agree on renewed aid to Ukraine following stiff opposition from Hungary. However, the bloc has confirmed accession talks with Kyiv are to go ahead. Wall Street and European indices remain in the green but lose some momentum following this week’s Fed rate decision. Asian markets, however, push higher led by the Hang Seng. In China, manufacturing output surges in November but the retail sales disappoint. European central banks remain hawkish, rejecting market hopes of a New Year pivot towards rates cuts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Federal Reserve indicates that it will cut interest rates by 75bps next year, triggering a Wall Street rally where the Dow closed above the 37,000-point mark for the first time ever. Resultantly, the 10-year Treasury yield sinks below 4 per cent for the first time in 4 months. Doubleline Capital CEO Jeffery Gundlach tells our colleagues Stateside to brace for market volatility next year. There are rate decisions due from the SNB, ECB, BoE and Norges Bank later today as Deutsche Bank board member Alex von zur Muhlen telling CNBC that central bank moves are finally working. We are also live in Brussels where EU leaders are meeting to discuss Ukraine funding and accession amid opposition from Budapest.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cop28 negotiators publish a new draft communique which omits any mention of phasing out fossil fuel but have tightened some of the text regarding use of hydrocarbons. The S&P 500 hits its highest level in nearly 2 years. U.S. headline inflation decelerates which has raised investors’ hopes the Fed will pause rate cuts today. Ukrainian President Volodomyr Zelenskyy is in Washington D.C. setting out his case for more U.S. war aid while the country’s deputy prime minister, Olga Stefansishyna tells CNBC she is expecting progress on Kyiv’s bid to join the European Union. And in retail news Walgreens is reportedly looking to spin off its UK Boots franchise with a potential London IPO being under discussion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A global Cop28 agreement is on the brink of failure after the draft text removes a call to phase out fossil fuels. Wall Street records a third consecutive day in the green with the S&P 500 shrugging off declines from all of the ‘Magnificent 7’ tech stocks. Ukrainian President Volodomyr Zelenskyy is in Washington for talks with U.S. President Joe Biden and Congressional lawmakers to push for fresh funding in his country’s defence against Russia. Google loses an anti-trust legal case against Epic Games after a federal judge found the tech giant had intentionally imposed barriers against developers in its Android App Store. And in IPO news, Chinese fast fashion brand Shein is reportedly in talks with the LSE regarding a UK listing.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street posts its sixth week of gains as the economy grows by a further 200k jobs in November. The Fed is due to hold its last meeting of the year later this week. Chinese consumer prices fall at their fastest pace in three years in November while producer prices fall for the fourteenth consecutive month. EU finance ministers are set to hold an extraordinary meeting before Christmas after failing to agree on reforms to debt and deficit rules. EU lawmakers announce new regulations for the use of artificial intelligence – a first move in the West regarding the emerging technology. And Japanese telco firm Rakuten is to launch its own AI language model. CEO Hiroshi ‘Mickey’ Mikitani tells CNBC his company is well placed to succeed.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A.I. stocks help the Dow and S&P 500 out of a three-day rut with positive announcements from Amazon and AMD helping Wall Street back into the green ahead of today’s non-farm payroll data. The yen hits a four-month high versus the dollar but the Nikkei is down on comments from the BoJ governor Kazuo Ueda who signalled that the central bank may start to unwind its ultra-loose monetary policy. In energy news, WTI rises above $70 per barrel but crude prices remain on track for their seventh straight week of losses. Saudi Arabia and Russia have urged other Opec nations to join them in deepening supply cuts further. And we are live in Brussels where euro finance ministers are convening. German Finance Minister Christian Lindner tells CNBC he is confident that a resolution to his country’s budget impasse is imminent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese exports grow, snapping a six-month losing streak but jitters over the world’s second-largest economy persist, which pushes U.S. crude prices to below the $70 mark. In the U.S., private sector payrolls data is weaker than expected sending Wall Street into the red once more. However, Amazon CEO Andy Jassy tells our colleagues Stateside that consumer sentiment remains robust. Major bank CEOs testify on Capitol Hill where JPMorgan boss Jamie Dimon lashes out at cryptocurrencies, saying they enable various illicit activities and calls on the government to shut them down. We also speak to Muddy Waters Research founder Carson Block who shorts Blackstone Mortgage Trust, warning that commercial property owners will come under ‘significant strain’ next year.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets are in the green with Japan’s Nikkei leading the charge on strong chip stock performance. Bitcoin reaches $44,000 for the first time since April 2022 on hopes of a potential ETF. U.S. employment positions fall to a low not seen for two and a half years as rate hikes loosen the historically tight labour market Stateside. We hear from BofA CEO Brian Moynihan who says he is confident the economy activity will rebound as rates continue to ease. Apple shares are up 50 per cent this year, pushing the tech company’s market cap to more than $3tn for the first time since August. And in autos news, Brussels is set to delay EV tariffs between the EU and the UK as demand for the vehicles slumps while Danish Tesla workers join their Swedish counterparts in a sympathy strike, railing against the U.S. company’s economic ideology.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Wall Street ends in the red with the Dow snapping a four-day winning streak as tech stocks falter. Services activity in China accelerates at its fastest pace in three months according to a private survey. This runs counter to government data which shows the sector in contraction for the first time this year. In Dubai, COP28 negotiators are reportedly considering a phase-out of fossil fuels. In banking news, Qatar’s sovereign wealth fund is said to be selling down up to $500m of shares in UK lender Barclays.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UN Secretary-General slams COP28’s Net Zero charter but ExxonMobil CEO tells CNBC exclusively that technology will be key to eventually reducing global emissions. We also hear from U.S. climate envoy John Kerry who rails against COP28 President Sultan Al-Jaber’s claims that there is ‘no science’ for phasing out fossil fuels. U.S. Federal Reserve Chairman Jerome Powell’s dovish comments on rate hikes send gold spiking and helps the S&P 500 to close at a new record high for the year. Uber stocks rise more than 5 per cent in extended trade on the news that the ride-haling firm will join the S&P 500 following a string of successful quarters.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.