Saturday’s overnight global news you need to know

  1. Federal Reserve Chairman Powell said that if inflation needs to be lowered, the Fed will raise interest rates again, and it is too early to speculate on when policy may be relaxed.
  2. The US Department of Energy stated that the United States is seeking to repurchase up to 3 million barrels of oil for delivery in February as part of its strategic reserves.
  3. The US District of Columbia Circuit Court of Appeals ruled that former President Trump must face civil litigation related to the Capitol riot, rejecting claims of immunity for Trump.
  4. Credit rating agency Fitch Ratings announced an upgrade in Greece’s rating to BBB-, with a stable outlook.
  5. Uber will be included in the S&P 500 index, and its stock price rose 4% after hours. Jabil and Builders FirstSource will also be added to the S&P 500 index.
  6. OpenAI has postponed the release date for its customized GPT Store until early 2024.
  7. South Korea’s first military reconnaissance satellite developed independently was launched from Vandenberg Space Force Base in California, USA at 10:19 local time on December 1st.
  8. Walmart, the largest retailer in the United States, announced that it has stopped advertising on social media platform X.
  9. The US Treasury Department issued a statement announcing three tankers being frozen assets and imposing sanctions on their shipowners due to carrying Russian crude oil at prices above the ceiling price limit.
    10.The U.S House of Representatives voted to expel New York State Representative George Santos, making him the sixth member ever expelled from Congress in U.S history
    11.The Ministry of Internal Affairs and Administration of Poland announced an extension by another thirty days regarding temporary border controls with Slovakia
    12.Chilean Copper Commission reported that Codelco produced 128 thousand tons copper in November which marks best monthly performance this year
    13.U.S stocks collectively closed higher; Dow Jones Industrial Average rose 0.82%, accumulating a weekly increase of 2.42%; Nasdaq Composite Index rose 0.55%, accumulating a weekly increase of 0.38%; S&P500 Index rose 0.59%, accumulating a weekly increase of 0.77%. Both Dow Jones and S&P500 reached new closing highs this year.
    14.COMEX February gold futures settlement price increased by 1.58% to $2089.7 per ounce, marking a historical high for the main contract’s closing price.
    15.WTI crude oil futures settlement price fell by 2.49% to $74.07 per barrel, with a cumulative decline of 1.94% for the week; Brent crude oil futures settlement price fell by 2.45% to $78.88 per barrel, with a cumulative decline of 2% for the week

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