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Wall Street Pauses as Fed Meeting Looms: Futures Hold Steady

U.S. stock futures were little changed on Tuesday as investors awaited the start of the Federal Reserve’s final policy meeting of the year. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all hovered near flat, reflecting a cautious mood across Wall Street. The Fed is widely expected to keep interest rates unchanged, but traders are focused on Chair Jerome Powell’s comments and the central bank’s updated economic projections. Markets are looking for clues on when rate cuts might begin in 2024, with inflation cooling but still above the Fed’s long-term target. Recent gains in equities have been fueled by optimism that the Fed’s tightening cycle is over, yet uncertainty remains about how quickly monetary policy will shift toward easing. Until then, investors appear content to hold their positions, waiting for clearer signals from the Fed before making bold moves.
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Iraqi Militias Cross into Syria to Support Government Forces

 

Hundreds of fighters from Iran-backed Iraqi militias crossed into Syria overnight to help the government fight rebels who seized Aleppo last week, Syrian and Iraqi sources said on Monday. At least 300 fighters, primarily from the Badr and Nujabaa groups, crossed late on Sunday using a dirt road to avoid the official border crossing, two Iraqi security sources said.

"These are fresh reinforcements being sent to aid our comrades on the front lines in the north," a senior Syrian military source said, adding the fighters had crossed in small groups to avoid airstrikes. Iran's constellation of allied regional militia groups has long been integral to the success of pro-government forces in subduing rebels who rose up against President Bashar al-Assad in 2011, and they have long maintained bases in Syria.

Iranian Foreign Minister Abbas Araqchi said on Monday Syria's military was capable of confronting the rebels but, referring to the regional militia groups Tehran backs, he added that "resistance groups will help and Iran will provide any support needed". Syrian government and Russian warplanes intensified attacks on Monday in areas held by rebels in the northwest, residents and rescue workers said, including a strike on a displaced people's camp that killed seven.

The lightning rebel assault last week caught many in the region unaware, dealing Assad his biggest blow in years and reigniting a conflict that had appeared frozen for years after civil war front lines stabilized in 2020. Although Russia has been focused on the war in Ukraine since 2022, it retains an air base in northern Syria. The main Iran-backed group, Lebanon's Hezbollah, has been focused on its own war with Israel since the Gaza conflict began last year.

The rebels include mainstream groups backed by Turkey, as well as the Islamist Hayat Tahrir al-Sham which was formerly affiliated with al-Qaeda. Turkey also has a military presence in a strip of Syrian territory along its border. Kurdish-led forces that Ankara calls terrorists, but which fought Islamic State militants with U.S. help, hold territory in the northeast.

Any prolonged escalation in Syria risks further destabilizing a region already roiled by the conflicts in Gaza and Lebanon, with millions of Syrians already displaced and with regional and global powers backing rival forces in the country.




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