NEW YORK/LONDON: Global stocks were down and major Wall Street indexes fell on Thursday (Dec 12) after the European Central Bank cut interest rates for a fourth time this year, and gold prices slid from a five-week high. European stocks finished lower in choppy trading after the European Central Bank cut interest rates and kept the door open to further easing in 2025 in the face of a struggling economy and heightened political risks. The Swiss franc weakened after the Swiss National Bank cut rates by half a point, its largest reduction in nearly 10 years. Markets had priced a good chance of a half-point cut in the run-up to Thursday's meeting. The US Labor Department's producer price index (PPI), which tracks the prices US companies get for their goods and services at the figurative factory door , jumped by 0.4 per cent, leap-frogging over the 0.2 per cent consensus and marking an acceleration from October's upwardly revised 0.3 per cent gain. The US dollar rose. Oil prices fell more than 1 per cent as a forecast for ample supply in the oil market offset optimism stemming from rising expectations of a US interest rate cut. MSCI's gauge of stocks across the globe fell 2.35 points, or 0.27 per cent, to 869.04. Wednesday's inflation reading showed the consumer price index (CPI) rose exactly in line with expectations in November, supporting bets for a Federal Reserve interest rate cut next week. "The market has essentially seen one of the last remaining obstacles that could derail sentiment out of the way," said Chris Weston, head of research at Pepperstone. "Seeing the coast somewhat clearer for the illustrious seasonal chase of returns to play out into year-end". Traders now place a 97 per cent chance on a quarter-point Fed cut on December 18. The Dow Jones Industrial Average fell 211.90 points, or 0.48 per cent, to 43,937.10, the S&P 500 fell 25.05 points, or 0.41 per cent, to 6,059.25 and the Nasdaq Composite fell 95.97 points, or 0.48 per cent, to 19,938.97. The pan-European STOXX 600 index closed down by 0.1 per cent, although rate-sensitive eurozone bank shares edged up 0.3 per cent. Traders were pricing in 125 basis points worth of interest rate cuts by the ECB end of 2025, according to data compiled by LSEG. "The ECB is on a direct path of consecutive quarter-point cuts until the deposit rate reaches 2 per cent. This market expectation is now being reinforced by even lower economic forecasts," said Jochen Stanzl, chief market analyst at CMC Markets. Emerging stocks rose 0.38 per cent.The yield on benchmark US. 10-year notes rose 5.3 basis points to 4.324 per cent, from 4.271 per cent late on Wednesday. CENTRAL BANK FOCUS The dollar index, which measures the greenback against a basket of currencies including the yen and the euro,rose 0.29 per cent to 106.86, with the euro down 0.12 per cent at US$1.0481. The greenback retreated against the yen after Reuters reported that BOJ policy makers were inclined to forgo a hike on December 19 and wait for more data on wages at the start of next year. The Australian dollar turned lower against the dollar. Earlier, it surged on unexpectedly strong employment data, rebounding from Wednesday's weakness following a Reuters report that Beijing is considering allowing the yuan to depreciate further next year. China is Australia's top trading partner and the Aussie is often used as a liquid proxy for the yuan. Although economists were almost unanimous in predicting Thursday's move by the ECB, many had acknowledged that a bigger cut would also be justified given a deteriorating growth outlook and rapidly retreating inflation. In commodities, spot gold fell 1.22 per cent to US$2,684.83 an ounce as investors took profits and squared positions ahead of next week's Fed meeting. US gold futures settled 1.7 per cent lower at US$2,709.40. Crude oil retreated after rallying this week on the threat of additional sanctions aimed at stifling Russian oil output. US crude settled down 0.4 per cent to US$70.02 a barrel and Brent fell to US$73.41 per barrel, down 0.15 per cent on the day.Packers get a string of predictable but concerning updates before Lions matchup
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HOUSTON (AP) — The Houston Texans didn’t need to see what Baltimore’s Derrick Henry is doing this season to be reminded of just how dangerous he can be. He ran all over the Texans for years while playing in the AFC South for the Tennessee Titans. Henry and the Ravens (10-5) visit AFC South champion Houston (9-6) on Wednesday, looking for a win to keep their AFC North title chances alive. Baltimore has clinched a playoff berth for a third straight season but needs wins in its last two games and one loss by the Steelers to capture the division. Henry, who ranks second in the NFL with 1,636 yards rushing, has had some of his greatest success against the Texans. Four of the 30-year-old’s six career 200-yard rushing games have been against Houston, including a career-high 250 in the season finale in the 2020 season to surpass 2,000 yards. “You talk about fast, explosive, physical — he’s looking probably the best he’s looked in his career,” Texans coach DeMeco Ryans said. “He’s found that fountain of youth ... he’s a great player. It’s fun to see guys rebound and bounce back the way that he’s done this year.” RELATED COVERAGE Falcons drafting Penix no longer a head-scratcher with rookie QB shining in place of benched Cousins Chiefs head to Pittsburgh on Christmas hoping to lock up the top seed in the AFC Chiefs try to secure home-field advantage in the AFC when they visit Pittsburgh on Christmas Dealing with Henry along with all the challenges that quarterback Lamar Jackson presents makes the top-ranked Ravens one of Houston’s more difficult matchups. “You talk about MVP, (Jackson’s) definitely the MVP in my mind just for what he’s doing not only in the run game but also throwing the football,” Ryans said. “The accuracy, the decision-making, like, he’s playing unbelievable ball right now, so it’s going to be a really tough challenge for us this week.” Another challenge for the Texans is moving on after Tank Dell sustained a season-ending knee injury in Saturday’s loss to Kansas City. His injury is another blow to a receiving group that already was without star Stefon Diggs, who tore his ACL in Week 8. “The position we’re in, it’s not a lot of times where you can sulk in your feelings for very long,” quarterback C.J. Stroud said. “You’ve got to just keep rolling. I think that’s a testament to just life in general. Everybody has stuff on their plate. Everybody is going through something. And just because we’re in this position, doesn’t mean you get to feel sorry for yourself.” Houston will rely on Stroud to keep the passing game rolling despite the loss of Dell, who ranks second on the team with 667 yards receiving. Baltimore coach John Harbaugh has been impressed with Stroud’s growth in Year 2 and knows that dealing with him will be difficult for his team, which ranks 31st in the NFL by allowing 254.9 yards passing a game. “He’s just a supertalented guy... he’s surrounded with some good weapons, and he gets the ball out quick,” Harbaugh said. “He handles pressure well, he can move, he’s athletic, scrambles and makes plays.” Missing out Jackson is a big fan of Beyoncé, though he didn’t know the title of his favorite song of hers, saying it was “To the left,” which is just the first lines of her hit “Irreplaceable.” And he doesn’t think playing in Wednesday’s game should stop him from seeing her halftime show on Christmas . “I’m going to go out there and watch,” he said. “First time seeing Beyoncé perform, and it’s at our game — that’s dope. I’m going to go out and watch. Sorry Harbaugh, sorry fellas.” He later clarified that he was kidding about sneaking out at halftime to get a glimpse of Queen Bey. “I was just thinking about just seeing Beyoncé for the first time,” he said. “Not saying it like that; no disrespect, because I know how people can take things. Next question.” Metchie’s moment Houston receiver John Metchie could have a chance for a big game with Dell out. Metchie is playing in his second NFL season after missing his entire rookie year while undergoing cancer treatment. He has just 182 yards receiving this season, with his best game coming against Detroit, when he had a career-high 72 yards receiving and his only NFL TD. Stroud is looking for Metchie and fellow reserve Xavier Hutchinson to help make up for Dell’s absence against the Ravens. “Those guys have another opportunity to show who they are and I know that they can do it,” Stroud said. “I see them in practice do it every week. So, I’m excited for them and it’s a good opportunity for them to step up.” Record watch Jackson is up to 6,023 yards rushing for his career. The NFL record for a quarterback is 6,109 by Michael Vick, so Jackson could break it with a big game on Wednesday. Jackson also leads the NFL in passer rating and is in the conversation for his third MVP. Although it sounds like that’s a discussion he’d rather not get involved in. “No other choice but to hear it,” Jackson said. “They (are) tagging me in it. You don’t (have) to tag me. You can talk about it all you want, but you want to tag me to get like clickbait because you know sometimes I (will) say something back like, ‘That was stupid.’ It is what it is. I don’t care, though. I really don’t care about the talk.” ___ AP Sports Writer Noah Trister in Owings Mills, Maryland, contributed to this report. ___ AP NFL: https://apnews.com/hub/nfl
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Verstappen captures 4th F1 championship after Mercedes sweep of Las Vegas Grand Prix LAS VEGAS (AP) — Max Verstappen cruised to a fourth consecutive Formula 1 championship Saturday night by finishing fifth in the Las Vegas Grand Prix. Verstappen needed only to finish ahead of Lando Norris of McLaren to give Red Bull a fourth straight driver championship. The Dutchman started fifth but was already up to second by the 10th lap around the street circuit that includes the famed Las Vegas Strip. Norris, who had to score at least three points more than Verstappen to extend the championship fight, finished sixth. The race was won by George Russell who was followed by Lewis Hamilton in the first 1-2 sweep for the Mercedes drivers since 2022. Dartmouth sorority, two members of fraternity face charges after student who attended party drowned HANOVER, N.H. (AP) — A sorority at Dartmouth College and two members of a fraternity faces charges related to the death of a student who drowned after attending an off-campus party. The Hanover, New Hampshire police department, where Dartmouth is located, said Friday that Alpha Phi was charged with one count of facilitating an underage alcohol house. Two members of the Beta Alpha Omega face a charge of providing alcohol to a person under 21. Won Jang, 20, of Middletown, Delaware, had attended an off-campus party in July hosted by Alpha Phi sorority. Police said the alcohol was provided by Beta Alpha Omega. Tens of thousands of Spaniards protest housing crunch and high rents in Barcelona BARCELONA, Spain (AP) — Tens of thousands of Spaniards are marching in downtown Barcelona to protest the skyrocketing cost of renting an apartment in the popular tourist destination. Protesters cut off traffic on main avenues in the city center, holding up homemade signs in Spanish reading “Fewer apartments for investing and more homes for living." The lack of affordable housing has become one of the leading concerns for the southern European Union country, mirroring the housing crunch across many parts of the world, including the United States. The average rent for Spain has doubled in the last decade. In cities like Barcelona, rental prices have also been driven up by short-term renters including tourists. Jason Kelce's wife announces she is pregnant with the couple's fourth child Former Philadelphia Eagles center Jason Kelce's wife is announcing she's pregnant with the couple's fourth child. Kylie Kelce posted a photo on Instagram on Friday of the couple's three young daughters reacting to the news. The oldest daughter, Wyatt, appears to be cupping her head in shock. The middle daughter, Ellioette, is smiling. The youngest, Bennett, is in tears. A caption attached to the photo reads: “I feel like we captured a very accurate representation of how each of the girls feel about getting another sister. At least Ellie, mom and dad are on the same page!” Israeli-Moldovan rabbi living in UAE is missing. Israeli officials fear he may have been kidnapped DUBAI, United Arab Emirates (AP) — An Israeli-Moldovan rabbi living in the United Arab Emirates has gone missing, with Israeli authorities raising the suspicion he may have been kidnapped as tensions remain high with Iran. The Israeli prime minister’s office said that Zvi Kogan has been missing since noon Thursday. It said that against the backdrop of information that this was a terrorist incident, an extensive investigation has been opened in the country. Emirati officials did not immediately respond to a request for comment Saturday. State-run media in the UAE, an autocratic federation of seven sheikhdoms on the Arabian Peninsula and home to Abu Dhabi and Dubai, did not immediately report the incident. Alyssa Nakken, first full-time female coach in MLB history, leaving Giants to join Guardians CLEVELAND (AP) — Alyssa Nakken, the first woman to coach in an MLB game, is leaving the San Francisco Giants to join the Cleveland Guardians. Nakken made history in 2022 when she took over as first-base coach following an ejection. A former college softball star at Sacramento State, Nakken joined the Giants in 2014 and was promoted to a spot on manager Gabe Kapler’s staff in 2020, becoming the majors’ first full-time female coach. Nakken has been hired as an assistant director within player development for the Guardians, who won the AL Central last season under first-year manager Stephen Vogt. Nakken, 34, will work with former Giants coaches Craig Albernaz and Kai Correa. Officer kills pet dog mistaken for a coyote in Massachusetts town. The owner says it was unnecessary An animal control officer shot and killed a pet dog in a Massachusetts town after mistaking it for a coyote in an incident local police are describing as a sad mix-up. Police in Northbridge, Massachusetts, say the shooting happened on Tuesday after police received a call of a report of a coyote in a residential backyard. Police say the animal control officer went into the woods to look for the coyote and found what they thought was the animal in a threatening position and shot it. The incident happened as communities around Massachusetts and the country have dealt with an uptick in interactions between coyotes and people. Kendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Michael B. Jordan uses timeout at women's college basketball game to sign smoldering photo LOS ANGELES (AP) — Snoop Dogg strolled in wearing a jacket with JuJu Watkins’ name and number on the front and back. Michael B. Jordan thrilled a USC female fan with an impromptu autograph during a timeout. The stars came out to the showdown between third-ranked Southern California and No. 6 Notre Dame. The Fighting Irish won 74-61 to remain undefeated in the nationally televised game. The woman held up a smoldering magazine photo of the actor and he indicated he'd sign it. With the arena DJ egging her on, she climbed out of the stands and met Jordan at his seat. He leaned in to ask her name, signed and they shared an embrace.House rejects Democratic efforts to force release of Matt Gaetz ethics report