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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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Iranian Consulate in Damascus Flattened in Suspected Israeli Air Strike


In a startling escalation of conflict in the Middle East, Iran’s consulate in the Syrian capital, Damascus, was obliterated in what Syrian and Iranian media have described as an Israeli air strike. The attack has raised tensions between Israel and Iran, pitting them against each other and their respective allies.

Pictures from the scene show the flattened remains of a building that stood next to Tehran’s embassy in Damascus. Smoke billowed from the rubble, and emergency vehicles swarmed the area. An Iranian flag, defiant yet tattered, hung from a pole amidst the debris. The Syrian and Iranian foreign ministers were both present at the scene, witnessing the aftermath of the destruction.

Reports indicate that several Iranian diplomats lost their lives in the attack. Among the dead was Mohammad Reza Zahedi, a senior commander in Iran’s Revolutionary Guards Corps (IRGC). Israel, known for its covert military operations, maintained its silence, adhering to its usual practice. An Israeli military spokesperson merely stated, “We do not comment on reports in the foreign media.”

Syria’s state news agency, SANA, reported an unspecified number of deaths and injuries. Meanwhile, Iran’s Tasnim news agency confirmed that five people were killed in the Israeli strike.

Since the Iranian-backed Palestinian faction Hamas launched an attack on Israel in October, the Israeli military has intensified air strikes in Syria. Their targets include Lebanon’s Iranian-backed Hezbollah militia and Iran’s Guards, both of which support Syrian President Bashar Assad’s government.

The obliteration of the Iranian consulate in Damascus marks a significant escalation, further complicating the already volatile situation in the region. As tensions simmer, the world watches closely, wondering how this latest incident will impact the delicate balance of power in the Middle East.


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