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Gaza Truce and Hostage Deal Faces Last-Minute Crisis

  In a dramatic turn of events, Israeli Prime Minister Benjamin Netanyahu announced that a last-minute crisis with Hamas is delaying the approval of a highly anticipated ceasefire and hostage release agreement. The deal, which was set to be approved by the Israeli Cabinet, has been put on hold as Netanyahu accused Hamas of reneging on parts of the agreement in an attempt to gain further concessions. The ceasefire, brokered by U.S. President Joe Biden and key mediator Qatar, was expected to bring a temporary halt to the 15-month conflict in the Gaza Strip and facilitate the release of dozens of hostages held by Hamas. However, Netanyahu's office stated that the Cabinet would not convene to approve the agreement until Hamas backs down from its new demands. Hamas, on the other hand, has denied the allegations, with senior official Izzat al-Rishq asserting that the militant group remains committed to the ceasefire agreement. The delay has raised concerns about the implementation of the...
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Techs lead the way as US stock futures climb, setting the S&P 500 on track for a fresh record high


US stock futures climbed on Friday, setting the S&P 500 on track for a fresh record high as a tech-led rally gave a lift to a market weighed down by uncertainty over the odds of an early interest rate cut. The Nasdaq 100 futures jumped 0.7%, eyeing a return to gains notched Thursday as Apple and chipmakers outperformed. S&P 500 futures rose 0.4%, while Dow Jones Industrial Average futures put on 0.2%.

The market is still closely watching for cues to the timing of rate cuts, which could set the tone for corporates this year. The focus has turned to big tech to potentially kickstart a lagging stock market, now that the key drivers of the late 2023 rally have waned. Thursday’s tech-led surge in stocks put the S&P 500 within 0.3% of its all-time closing high of 4,796.56 and snapped a three-day losing streak for the Dow.

In individual stocks, iRobot shares tanked over 38% after a report that EU regulators plan to block Amazon’s $1.4 billion acquisition of the Roomba maker. Meanwhile, investors were assessing Macy’s announcement that it is cutting 2,350 jobs and closing five stores. Quarterly results from Travelers, Regions Financial, and other banks are on the earnings docket Friday. In economic updates, a December reading on existing home sales is due, as well as a look at consumer sentiment from the University of Michigan.


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