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Wall Street Futures Edge Higher as Soft Jobs Data Fuels Rate-Cut Hopes

  US stock futures ticked upward on Wednesday, extending Wall Street’s rebound as investors digested a weaker-than-expected ADP employment report. The data showed a surprise decline in private-sector payrolls, reinforcing expectations that the Federal Reserve may move forward with an interest rate cut at its upcoming December meeting. Market Performance Dow Jones Industrial Average futures rose about 0.2%, adding 80 points to 47,624. S&P 500 futures gained 9.25 points to 6,849.50, up 0.14%. Nasdaq 100 futures advanced 25.50 points to 25,631.50, a 0.10% increase. Key Drivers The ADP jobs report revealed a drop in private-sector employment, signaling cooling labor market conditions. This bolstered investor confidence that the Fed will ease monetary policy, with markets pricing in nearly 88% odds of a rate cut next week. Tech stocks continued to provide momentum, with Nvidia and Marvell edging higher. Crypto-linked stocks surged, with PMAX up 67%, CMCT up 30%, a...
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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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