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U.S. Officials Say Iran’s New Supreme Leader Gravely Wounded Amid Escalating Conflict

Protesters hold posters of Iran's late Supreme Leader Ayatollah Ali Khamenei and his son, Iran's new Supreme Leader Mojtaba Khamenei, during a protest marking al-Quds Day (Jerusalem Day), after Friday prayers at Fatih Mosque in Istanbul. U.S. Defense Secretary Pete Hegseth has confirmed that Iran’s newly appointed Supreme Leader, Mojtaba Khamenei , was seriously wounded and likely disfigured during the opening phase of U.S. and Israeli military strikes. Speaking at a Pentagon briefing, Hegseth described Iran’s leadership as “desperate and hiding,” asserting that Khamenei has gone underground following injuries sustained in the attacks.  Reports from multiple outlets indicate that Khamenei has not appeared publicly since the conflict began, fueling speculation about the severity of his condition. Some accounts suggest he may have suffered catastrophic injuries, including the loss of a limb and a possible coma, after an airstrike that also killed members of his family.  U.S....
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US Futures Fall as Rate-Cut Bets Get a Reality Check

 


US stock futures fell on Wednesday, signaling no let-up in a rough January. Investors’ optimism for interest rate cuts got a reality check, and worries about China’s economy grew. Dow Jones Industrial Average ( ^DJI) futures fell 0.4%, while S&P 500 ( ^GSPC) futures slid 0.4%, set to build on Tuesday’s losing start to the holiday-shortened week. 

Futures on the tech-heavy Nasdaq 100 ( ^NDX) were down roughly 0.5%. Stocks have struggled as policymakers push back against persistent bets that central banks will cut rates early and often in 2024. ECB president Christine Lagarde on Wednesday joined the likes of Federal Reserve Governor Chris Waller in warning that expectations of imminent loosening are too high. Another knockback came from disappointing GDP data suggesting that China’s growth is flagging despite stimulus measures. 

Oil prices fell amid fears of a pullback in demand from the world’s second biggest economy. Hopes now rest on quarterly earnings, with the season set to pick up pace, and the release of the December retail sales report later Wednesday. 

Fed officials have been keen to stress that their policy decision making will be driven by incoming economic data. Regional bank fourth-quarter results are in focus in the morning after earnings from Wall Street’s big lenders got a mixed reception.

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