Hopes for a Santa Claus rally on Wall Street fell Friday as tech stocks slid lower, while a weaker yen lifted Japanese equities New York, (APP - UrduPoint / Pakistan Point News - 28th Dec, 2024) Hopes for a Santa Claus rally on Wall Street fell Friday as tech stocks slid lower, while a weaker yen lifted Japanese equities. US indices slumped to end the holiday week, with the tech-heavy Nasdaq Composite losing 1.5 percent. Shares in Tesla were closed around 5.0 percent lower, while those in AI chipmaker Nvidia shed around 2.0 percent. Wall Street stocks have historically performed well around the year-end holidays in what is popularly known as a Santa Claus rally. A Christmas Eve jump in equities got the Santa rally off to a flying start and indices barely budged in Thursday trading. Briefing.com analyst Patrick O'Hare also pointed to an increase in 10-year US Treasury bond yields to around 4.6 percent, which he noted is a rise of nearly 0.9 percentage points since the US Federal Reserve made its first recent interest rate cut in September. "The Fed doesn't hold sway over longer-dated maturities like it does over shorter-dated securities, so the bump in rates at the back end of the curve is being watched with an anxious eye as a possible harbinger of a pickup in inflation and/or the budget deficit," O'Hare said. Wall Street stocks took a knock earlier this month when the Fed indicated it would likely cut interest rates less than it had previously expected to. That was in part because of uncertainty tied to President-elect Donald Trump's vow to raise import tariffs, which could boost inflation that is already proving sticky. In Asia, Japan's Nikkei index closed up nearly two percent, with the yen's recent weakness proving a boon for major exporters. The yen hit 158.08 per US dollar on Thursday evening -- its lowest in almost six months -- following comments made by Bank of Japan Governor Kazuo Ueda that failed to give a clear signal on a possible interest rate increase next month. Recent data has showed Japan's inflation rose for a second month in December, while industrial production declined less than expected in November and retail sales came in higher than estimated last month. Japan's government also on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare for its ageing population and on defense to tackle regional threats. In Seoul, the stock market closed down one percent after the won plunged to a nearly 16-year low of 1,487. 03 against the dollar on Friday morning. South Korea is struggling to emerge from political turbulence in the wake of President Yoon Suk Yeol's martial law declaration this month, which prompted his impeachment. Acting President Han Duck-soo was also impeached Friday in a vote that prompted governing party lawmakers to protest with angry chants and raised fists. South Korea's business outlook for January fell in the Bank of Korea's composite sentiment index, the biggest month-on-month slide since April 2020, according to data based on almost 3,300 firms released Friday. In Europe, Frankfurt's DAX index rose after German President Frank-Walter Steinmeier dissolved parliament on Friday and confirmed the expected date for the early general election, emphasizing the need for "political stability" in Europe's largest economy. - Key figures around 2115 GMT - New York - Dow: DOWN 0.8 percent at 42,992.21 (close) New York - S&P 500: DOWN 1.1 percent at 5,970.84 (close) New York - Nasdaq Composite: DOWN 1.5 percent at 19,722.03 (close) London - FTSE 100: UP 0.2 percent at 8,149.78 (close) Paris - CAC 40: UP 1.0 percent at 7,355.37 (close) Frankfurt - DAX: UP 0.7 percent at 19,984.32 (close) Tokyo - Nikkei 225: UP 1.8 percent at 40,281.16 points (close) Seoul - Kospi: DOWN 1.0 percent at 2,404.77 (close) Hong Kong - Hang Seng Index: UP 0.1 percent at 20,116.93 (close) Shanghai - Composite: UP 0.1 percent at 3,400.14 (close) Euro/dollar: UP at $1.0429 from $1.0424 on Thursday Pound/dollar: UP at $1.2579 from $1.2526 Dollar/yen: DOWN at 157.89 yen from 158.00 yen Euro/pound: DOWN at 82.87 pence from 83.19 pence West Texas Intermediate: UP 1.4 percent at $70.60 per barrel Brent North Sea Crude: UP 1.2 percent at $74.17 per barrel burs-rl/rlp/bys/sms TOYOTA MOTOR INVESTOR AB S&P Global Ratings NETFLIX Tesla Amazon.comPolice used pepper spray on football players from Michigan and Ohio State during a brawl between the two teams following a rivalry game. The Michigan Wolverines upset their longtime rivals, the Ohio State Buckeyes, in a stunning 13-10 victory in Columbus Saturday afternoon. After the Wolverines’ win, Michigan players could be seen carrying a school flag during a midfield celebration. In a video clip circulating online , Buckeyes defensive end Jack Sawyer rips the Michigan flag away, causing a melee to break out. As players from both teams push and throw punches, police attempt to break up the fight, with some officers threatening to use pepper spray. Several Michigan players could also be seen in news footage rubbing their faces and eyes, as if sprayed. The Ohio State University Police Department later confirmed in a statement that officers “representing Ohio and Michigan deployed pepper spray” during the fight. Other news outlets have retreated behind paywalls. At HuffPost, we believe journalism should be free for everyone. Would you help us provide essential information to our readers during this critical time? We can't do it without you. Can't afford to contribute? Support HuffPost by creating a free account and log in while you read. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give once or many more times, we appreciate your contribution to keeping our journalism free for all. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give just one more time or sign up again to contribute regularly, we appreciate you playing a part in keeping our journalism free for all. Already contributed? Log in to hide these messages. After the brawl, Michigan running back Kalel Mullings told reporter Jenny Taft that you “hate to see stuff like that.” “It’s bad for the sport, bad for college football,” Mullings said. “But at the end of the day, some people, they gotta learn how to lose, man. You can’t be fighting and stuff just because you lost a game, you know. All that fighting ― we have 60 minutes, we have four quarters to do all that fighting.” Michigan has now won four games in a row against Ohio State, according to the Columbus Dispatch. Related From Our Partner
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"Faye, Ma, and Song Collaborate in Comedy 'Moon at the Window, Bang!' Set to Premiere for New Year's"Furthermore, Leralat's reluctance to invest in modernizing the postal infrastructure and adopting new technologies hampered the efficiency and productivity of the postal service. Outdated systems and practices remained in place, hindering progress and impeding the ability of the postal service to adapt to evolving customer needs.Dublin Central Count 1: Mary Lou McDonald top as Gerard Hutch fourth and Green TD in trouble Our Evening Tally take from our political team Fine Gael's Jennifer Carroll MacNeill the first TD elected in the country... Don’t blame the electorate when Simon Harris is Taoiseach for Christmas, Kevin Doyle writes Dublin Central Count 2: Mary Lou McDonald's running mate eliminated as Hutch seat looking more and more likely Aontú’s Maireád Tóibín eliminated on third count Fingal East Count 3: Darragh O'Brien leads, with extremely close race for seats 2 and 3 Dublin North West Count 1: Dessie Ellis doesn't get elected but in the lead. Dublin Bay South: Counts 1 and 2: FG's Geoghegan tops poll but no one yet elected Slow progress in Galway Dublin Fingal West Count 3: Two candidates eliminated Dublin Mid-West Count 1: SF's Eoin Ó Broin elected - 'I'm scarlet' 'We are not conceding' - Billy O'Shea Cork South-Central Count 1: Micheál Martin elected on first count Dublin West Count 1: Jack Chambers (FF) and Paul Donnelly (SF) elected Fingal East Count 2: FF's Darragh O'Brien on top with SF, FG and Labour neck and neck in 3-seater Dún Laoghaire Count 2: Two candidates eliminated Austin Stack eliminated in second count Security for Mary Lou McDonald at the count centre Wexford Count 1: Independent Verona Murphy tops poll and is elected on first count Wicklow-Wexford Count 1: No candidate reaches quota, two eliminated
Workday earnings beat by $0.13, revenue topped estimatesAs the time came for the man's body to be taken for the organ donation, his family made a remarkable choice. Instead of holding a traditional, lengthy funeral service, they decided to shorten the sending-off ceremony. They wanted to express their support for his decision and acknowledge the importance of his sacrifice.AFC standouts meet when Herbert, Chargers host Jackson's Ravens on Monday night
The arrest of Yoon Seok-yeol marks a significant turning point in South Korea's political landscape and highlights the urgent need for greater transparency and accountability in government. The outcome of this scandal will have far-reaching implications for the country's political future and the credibility of its leadership.
In addition to the charge attack, the Tiger Vanguard has also been given a new aerial assault move. With a mighty leap into the air, the Tiger Vanguard can now come crashing down on unsuspecting players with incredible force, causing massive damage if not avoided. This aerial assault adds a dynamic element to the enemy's attacks, forcing players to adapt their strategies and think on their feet during intense battles.LAS VEGAS (AP) — A team that previously boycotted at least one match against the San Jose State women's volleyball program will again be faced with the decision whether to play the school , this time in the Mountain West Conference semifinals with a shot at the NCAA Tournament on the line. Five schools forfeited matches in the regular season against San Jose State, which carried a No. 2 seed into the conference tournament in Las Vegas. Among those schools: No. 3 Utah State and No. 6 Boise State, who will face off Wednesday with the winner scheduled to play the Spartans in the semifinals on Friday. Wyoming, Nevada and Southern Utah — which is not a Mountain West member — also canceled regular-season matches, all without explicitly saying why they were forfeiting. Nevada players cited fairness in women’s sports as a reason to boycott their match, while political figures from Wyoming, Idaho, Utah and Nevada suggested the cancellations center around protecting women’s sports. In a lawsuit filed against the NCAA , plaintiffs cited unspecified reports asserting there was a transgender player on the San Jose State volleyball team, even naming her. While some media have reported those and other details, neither San Jose State nor the forfeiting teams have confirmed the school has a trans women’s volleyball player. The Associated Press is withholding the player’s name because she has not publicly commented on her gender identity and through school officials has declined an interview request. A judge on Monday rejected a request made by nine current conference players to block the San Jose State player from competing in the tournament on grounds that she is transgender. That ruling was upheld Tuesday by an appeals court. “The team looks forward to starting Mountain West Conference tournament competition on Friday,” San Jose State said in a statement issued after the appeals court decision. “The university maintains an unwavering commitment to the participation, safety and privacy of all students at San Jose State and ensuring they are able to compete in an inclusive, fair and respectful environment.” Chris Kutz, a Boise State athletics spokesman, said in an email the university would not “comment on potential matchups at this time.” Doug Hoffman, an Aggies athletics spokesman, said in an email Utah State is reviewing the court’s order. “Right now, our women’s volleyball program is focused on the game this Wednesday, and we’ll be cheering them on,” Hoffman wrote. San Jose State, which had a first-round bye, would be sent directly to the conference title game if Utah State or Boise State were to forfeit again. If the Spartans make the title game, it's likely the opponent would not forfeit. They would face top-seeded Colorado State, No. 4 Fresno State or No. 5 San Diego State — all teams that played the Spartans this season. The conference champion receives an automatic bid to the NCAA Tournament. AP college sports: https://apnews.com/hub/college-sports