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Wall Street Futures Surge as Fed Hints at More Cuts, Nvidia’s $5B Intel Bet Lifts Tech

  U.S. stock futures climbed on Thursday, with the Nasdaq leading gains, after the Federal Reserve cut interest rates by 0.25 percentage points and signaled two more reductions could follow in 2025. Dow Jones Industrial Average futures rose 0.7%, S&P 500 futures gained 0.8%, and Nasdaq 100 futures jumped 1.2%, buoyed by a sharp rally in tech stocks. Intel shares surged nearly 30% in premarket trading after Nvidia announced a $5 billion investment in the struggling chipmaker, though the deal stops short of a manufacturing partnership. The Fed’s move, aimed at supporting a slowing economy amid high inflation and a weakening labor market, initially sparked caution, but optimism returned as investors bet on a more accommodative policy path. If gains hold, the S&P 500 is set to open above 6,700 for the first time, extending September’s unexpected rally. Traders are now watching weekly jobless claims for further clues on the labor market, while corporate earnings — including ...
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Impeachment Bid Against South Korean President Fails Amid Ruling Party Boycott

In a dramatic turn of events, the attempt to impeach South Korean President Yoon Suk Yeol has failed after members of his ruling party boycotted the vote. The impeachment motion, which required a two-thirds majority in the National Assembly, fell short as only three lawmakers from the People Power Party (PPP) participated in the vote.

The impeachment effort was sparked by President Yoon's controversial declaration of martial law, which was quickly overturned by the National Assembly. The opposition parties, holding 192 seats, needed at least eight votes from the PPP to reach the required 200 votes for impeachment. However, the boycott by the majority of PPP members prevented the motion from passing.

The failure of the impeachment vote is expected to intensify public protests and deepen political turmoil in South Korea. A significant portion of the population supports the president's impeachment, and the opposition parties have vowed to continue their efforts to remove him from office.

National Assembly Speaker Woo Won Shik expressed regret over the outcome, calling it an embarrassing moment for South Korea's democracy. He emphasized the importance of democratic procedures and the need for a qualified vote on such a critical national issue.

As the political crisis unfolds, the opposition parties are preparing to submit a new impeachment motion when the next parliamentary session begins. Meanwhile, President Yoon's leadership faces increasing scrutiny, and his ability to serve out his remaining term remains uncertain.



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