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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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UN General Assembly Rejects U.S. Resolution on Ukraine War, Approves European-Backed Proposal

 

In a significant development at the United Nations, the General Assembly has rejected a U.S.-backed resolution urging an end to the war in Ukraine without mentioning Russian aggression. Instead, the assembly approved a European-backed Ukrainian resolution demanding Russia immediately withdraw its forces from Ukraine.

The U.S. resolution, which failed to gain approval, was seen as a setback for the Trump administration. The resolution aimed to bring a durable end to the conflict but did not explicitly address Russia's invasion of Ukraine. The assembly's decision reflects the ongoing tensions between the U.S. and Ukraine, as well as the strain in the transatlantic alliance over the Trump administration's approach to engagement with Moscow.

The European-backed Ukrainian resolution, which passed with a vote of 93-18 and 65 abstentions, emphasizes the need for Russia to respect Ukraine's sovereignty and territorial integrity. Ukrainian Deputy Foreign Minister Mariana Betsa stated that her country is exercising its "inherent right to self-defense" following Russia's invasion, which violates the U.N. Charter.

U.S. deputy ambassador Dorothy Shea acknowledged that multiple previous U.N. resolutions condemning Russia and demanding the withdrawal of Russian troops have failed to stop the war. She emphasized the need for a resolution marking the commitment from all U.N. member states to bring a durable end to the conflict.

The dueling resolutions highlight the complexities and challenges in addressing the ongoing war in Ukraine and underscore the importance of international cooperation in seeking a peaceful resolution.



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