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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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Tensions Escalate as Israeli Air Force Strikes Near Syrian Presidential Palace

In a significant development, Israel’s air force launched strikes near Syria’s presidential palace early Friday, following warnings to Syrian authorities regarding sectarian violence. The attack comes after days of clashes between pro-Syrian government forces and Druze fighters near Damascus, leaving dozens dead or wounded.

The Israeli military stated that fighter jets targeted an area adjacent to the Palace of President Hussein al-Sharaa in Damascus. Syrian media reported that the strike hit close to the People’s Palace, a prominent site overlooking the city.

The Druze community, a minority sect with historical roots in Ismailism, has been at the center of recent unrest. More than half of the global Druze population resides in Syria, primarily in the southern Sweida province and Damascus suburbs. The clashes erupted after an audio clip criticizing Islam’s Prophet Muhammad circulated online, sparking outrage among Sunni Muslims.

Israeli Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz emphasized that the strike was a direct message to Syria’s leadership, warning against any threats to the Druze community. Meanwhile, Syria’s Druze spiritual leader Sheikh Hikmat Al-Hijri condemned the violence, calling it an “unjustified genocidal attack”.

The situation remains volatile, with international observers closely monitoring developments. The strike marks Israel’s second attack on Syria this week, signaling heightened regional tensions.

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