Saturday’s overnight global news you need to know

  • Federal Reserve Chairman Powell said that if inflation needs to be lowered, the Fed will raise interest rates again, speculating on when it may be premature to relax policies.
  • 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.
  • The US District of Columbia Circuit Court of Appeals ruled that former President Trump must face civil litigation related to the Capitol riot and rejected claims of immunity for Trump.
  • Credit rating agency Fitch Ratings announced an upgrade in Greece’s rating to BBB-, with a stable outlook.
  • Uber will be included in the S&P 500 index, and its stock price rose by 4% after hours. Jabil and Builders FirstSource will also be added to the S&P 500 index.
  • OpenAI has postponed the release date for its customized GPT Store until early 2024.
  • South Korea’s first military reconnaissance satellite developed independently was launched from Vandenberg Space Force Base in California, USA at 10:19 am local time on December 1st.
  • Walmart, the largest retailer in the United States, announced that it has stopped advertising on social media platform X.
  • 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 upper limit.
  • The U.S House of Representatives voted to expel New York State Representative George Santos, making him the sixth member expelled from Congress in U.S history.
  • The Ministry of Internal Affairs and Administration of Poland announced an extension of temporary border controls with Slovakia for another 30 days.
  • Chilean Copper Commission stated that Codelco produced 128 thousand tons copper in November, achieving best monthly performance so far this year.
  • U.S stocks collectively closed higher, with the Dow rising 0.82% and a weekly increase of 2.42%. The Nasdaq rose 0.55%, with a weekly increase of 0.38%. The S&P 500 index rose by 0.59%, with a weekly increase of 0.77%. Both the Dow and the S&P 500 index reached new closing highs for this year. Popular Chinese concept stocks generally fell, with the Nasdaq Golden Dragon China Index falling by 1% and a cumulative decline of 4.06% for the week.
  • COMEX February gold futures settlement price rose by 1.58%, reaching $2089.7 per ounce, setting a new record high for closing prices in main contracts.
  • WTI crude oil futures settlement price fell by -2.49%, reaching $74.07 per barrel, with a cumulative decline of -1.94% for the week; Brent crude oil futures settlement price fell by -2-45%, reaching $78-88 per barrel, with a cumulative decline of -2% for the week

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