Barkley's brilliance helps Eagles beat Panthers 22-16 but pass game has Philly frustratedSouth Korea's democracy held after a 6-hour power play. What does it say for democracies elsewhere?NoneA shaky Dune: Prophecy asks a whole lot of questions
Wall Street’s holiday cheer ended abruptly today, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week. The decline ended the Dow Jones Industrial Average’s five-session winning streak that had followed a 10-session decline, its worst losing stretch since 1974. The Dow fell 333.59 points, or 0.77%, to 42,992.21. The S&P 500 lost 66.75 points, or 1.11%, to finish at 5,970.84 points, while the Nasdaq Composite dropped 298.33 points, or 1.49%, to end at 19,722.03. “Today feels like there is quite a bit of profit-taking across the board,” said Michael Reynolds, vice president of investment strategy at Glenmede. “We are more than two years into a pretty strong bull market ... so it’s really not surprising to see some people taking their profits and rebalancing their portfolios ahead of the new year.” Highlighting the profit-taking theme, the 45 top performers year-to-date on the S&P 500 all finished lower today. The sell-off thwarted the seasonal Santa Claus rally, in which stocks traditionally rise during the last five sessions of December and the first two of January. Since 1969, the S&P 500 has climbed 1.3% on average, according to the Stock Trader’s Almanac. Thursday’s session hinted at momentum stalling, with both the S&P 500 and Nasdaq posting marginal losses to end multi-session winning runs. Rising U.S. Treasury yields had been catching investors’ attention, with the benchmark 10-year note hitting a more than seven-month high in the previous session. The yield hovered close to that mark today, at 4.63%. Higher yields are seen as hampering growth stocks, as they raise borrowing costs for business expansion. These stocks, especially the so-called Magnificent Seven technology megacaps which had been key drivers of the market’s 2024 rally, were also caught up in Friday’s sell-off. For the second successive day, Tesla led decliners among the group, dropping 5%. Among the other members, Nvidia shed 2.1% while Alphabet, Amazon.com and Microsoft all slipped more than 1.5%. “We have a higher cost of capital whenever rates go up like this, and they have gone up pretty significantly over the last month or so,” said Glenmede’s Reynolds. “Investors may just be reassessing the bets they are taking when the cost of capital is higher, perhaps looking at some of the valuations on the Mag 7 and wondering whether they can find better value elsewhere.” All of the 11 major S&P sectors fell. Friday’s worst performers were the three indexes which have been 2024’s leading lights: consumer discretionary, information technology and communication services. The trio dropped between 1.1% and 1.9% on the day. Despite Friday’s declines, all three indexes recorded weekly gains. For the week, the S&P 500 advanced 0.7%, the Dow edged up 0.36% and the Nasdaq climbed 0.75%. News events helped some stocks to buck the market sell-off. Amedisys gained 4.7%, its best one-day advance since July 1, after the home health service provider and insurer UnitedHealth extended the deadline to close their $3.3 billion merger. Lamb Weston climbed 2.6% after a filing showed activist investor Jana Partners is working with a sixth executive to push for changes at the French fry maker, a move which could result in a majority of the company’s board being replaced. Trading volumes in this holiday-shortened week have been below the average of the last six months and are likely to remain subdued until Jan. 6. The next major focus for markets will be the December employment report due on Jan. 10.None
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South Korean President Yoon Suk Yeol has staggered from scandal to crisis but he surprised everyone this week by declaring martial law -- only then to survive an impeachment vote. The plunge back to South Korea's dark days of military rule only lasted a few hours, and after a night of protests and high drama Yoon was forced into a U-turn in the early hours of Wednesday. But polls show a huge majority of citizens want him out and lawmakers voted Saturday on an impeachment motion brought by the opposition, who control parliament. But even though only eight of them needed to support the motion for it to pass, all but three MPs from Yoon's People Power Party (PPP) boycotted the vote and it failed. This is despite the PPP's leader Han Dong-hoon -- allegedly on an arrest list the night of the martial law declaration -- saying Yoon's resignation was "inevitable". On Saturday before the vote, Yoon spoke publicly for the first time in days, apologising for the "anxiety and inconvenience" he caused, but stopping short of throwing in the towel. Instead the 63-year-old said he would "entrust the party with measures to stabilise the political situation, including my term in office". Born in Seoul in 1960 months before a military coup, Yoon studied law and went on to become a star public prosecutor and anti-corruption crusader. He played an instrumental role in Park Geun-hye, South Korea's first female president, being convicted of abuse of power, imprisoned and impeached in 2016. As the country's top prosecutor in 2019, he also indicted a top aide of Park's successor, Moon Jae-in, in a fraud and bribery case. The conservative PPP, in opposition at the time, liked what they saw and convinced Yoon to become their presidential candidate. He duly won in March 2022, beating Lee Jae-myung of the Democratic Party, but by the narrowest margin in South Korean history. Yoon was never much loved by the public, especially by women -- he vowed on the campaign trail to abolish the ministry of gender equality -- and scandals have come thick and fast. This included his administration's handling of a 2022 crowd crush during Halloween festivities that killed more than 150 people. Voters have also blamed Yoon's administration for food inflation, a lagging economy and increasing constraints on freedom of speech. He was accused of abusing presidential vetoes, notably to strike down a bill paving the way for a special investigation into alleged stock manipulation by his wife Kim Keon Hee. Yoon suffered further reputational damage last year when his wife was secretly filmed accepting a designer handbag worth $2,000 as a gift. Yoon insisted it would have been rude to refuse. His mother-in-law, Choi Eun-soon, was sentenced to one year in prison for forging financial documents in a real estate deal. She was released in May 2024. Yoon himself was the subject of a petition calling for his impeachment earlier this year, which proved so popular the parliamentary website hosting it experienced delays and crashes. As president, Yoon has maintained a tough stance against nuclear-armed North Korea and bolstered ties with Seoul's traditional ally, the United States. Last year, he sang Don McLean's "American Pie" at the White House, prompting US President Joe Biden to respond: "I had no damn idea you could sing." But his efforts to restore ties with South Korea's former colonial ruler, Japan, did not sit well with many at home. Yoon has been a lame duck president since the opposition Democratic Party won a majority in parliamentary elections this year. They recently slashed Yoon's budget. In his Tuesday night televised address to the nation, Yoon railed against "anti-state elements plundering people's freedom and happiness" and his office has subsequently cast his imposition of martial law as a bid to break through legislative gridlock. But to use his political difficulties as justification for imposing martial law for the first time in South Korea since the 1980s is absurd, an analyst said. "Yoon invoked Article 77 of the South Korean constitution, which allows for proclaiming martial law but is reserved for 'time of war, armed conflict or similar national emergency', none of which appears evident," Bruce Klingner, a senior research fellow at the Heritage Foundation, told AFP. "Yoon's action is a damning reversal to decades of South Korean efforts to put its authoritarian past behind it," he said. burs-stu/ceb/mtpShare Tweet Share Share Email Cryptocurrency has been one wild ride, hasn’t it? From Bitcoin’s explosive rise to Ethereum’s game-changing smart contracts, the crypto world has completely shaken up how we think about money, tech, and even ownership. With the new year just around the corner, it’s time to focus on the projects that could make 2025 a game-changer for your portfolio. Whether you’re a seasoned investor or just getting your feet wet, early investments in the right cryptos could set you up for some serious gains. One name grabbing attention right now is Qubetics ($TICS) , a presale sensation tackling real-world challenges that have held the industry back. While many coins offer hype, Qubetics delivers substance, solving the everyday usability issues that crypto newcomers and veterans alike face. If you’re ready to discover the best crypto presales 2024 and other top coins to watch, let’s dive into the list. 1. Qubetics ($TICS): The Future of Web3 Integration Qubetics is more than just a flashy presale—it’s a revolution in how we use crypto. As the world’s first Web3 aggregator, Qubetics is built to simplify blockchain technology for everyone. Whether it’s integrating decentralised apps or managing multiple crypto assets, this project is tackling the barriers that make crypto feel intimidating for everyday users. What makes Qubetics stand out is its practical approach. Unlike many cryptos that thrive on speculation, Qubetics focuses on creating real-world value. Whether you’re a business looking for streamlined blockchain solutions or an investor seeking the best crypto presale to diversify your portfolio, Qubetics is worth your attention. The numbers don’t lie: the Qubetics presale is in its 14th stage, with over 377 million tokens sold to 11,800+ holders, raising more than $7.8 million. At just $0.0377 per token, $TICS is a steal—but not for long. Prices will jump by 10% once the presale hits its 15th stage this weekend. 2. Ethereum (ETH): The Smart Contract Powerhouse Ethereum isn’t going anywhere. As the OG of smart contracts, Ethereum continues to dominate the DeFi and NFT spaces. With the ongoing Ethereum 2.0 upgrade, the network is becoming faster, cheaper, and more scalable—a huge win for developers and investors alike. Analysts predict Ethereum’s dominance will continue into 2025, thanks to its unmatched ecosystem and developer activity. Whether you’re staking ETH for rewards or holding it as a long-term investment, Ethereum is a cornerstone of any crypto portfolio. 3. Polygon (MATIC): Scaling Ethereum to New Heights While Ethereum is a beast, it’s not perfect—think high fees and slow transaction times. Enter Polygon, the layer-2 solution that makes Ethereum faster and cheaper without sacrificing security. Polygon’s partnerships with big names like Disney and Adidas show its versatility and growing adoption. Its focus on zero-knowledge rollups (ZK-rollups) is also a game-changer for scalability. As we inch closer to 2025, MATIC is positioned as a must-watch coin for anyone betting on Ethereum’s success. 4. Ripple (XRP): The Cross-Border Payments Leader Ripple has been a pioneer in making international payments faster, cheaper, and more efficient. Its partnerships with financial giants and its ability to work seamlessly with traditional banking systems make XRP a unique player in the crypto space. Ripple’s recent legal victories have only strengthened its position. With institutional adoption on the rise, XRP is poised for big things in 2025. If you’re looking for a coin with both innovation and reliability, Ripple is a solid choice. 5. Near Protocol (NEAR): Scalability Meets Usability Near Protocol is a rising star in the blockchain world. Known for its user-friendly approach and sharding technology, NEAR is designed to make blockchain accessible to developers and everyday users alike. Its ability to handle fast, low-cost transactions sets it apart from the competition. With more projects choosing NEAR as their platform of choice, it’s one of the best crypto picks for 2025. If scalability and innovation are your priorities, NEAR has you covered. 6. Cardano (ADA): The Research-Driven Blockchain Cardano has always played the long game. Built on peer-reviewed research, it’s one of the most technically sound blockchains out there. With its focus on sustainability, scalability, and interoperability, Cardano is designed for the future. The upcoming Hydra upgrade is expected to bring significant improvements in transaction speed and efficiency. As more projects and developers flock to Cardano, ADA is shaping up to be a strong contender for long-term growth. Boost Your Portfolio As we gear up for 2025, these six cryptos offer a mix of innovation, scalability, and real-world utility. Whether it’s Qubetics ($TICS) redefining Web3 integration, Ethereum continuing its dominance, or Ripple reshaping cross-border payments, these projects are primed for success. Based on the latest research, we recommend Qubetics ($TICS), Ethereum (ETH), Polygon (MATIC), Ripple (XRP), Near Protocol (NEAR), and Cardano (ADA) as the best cryptos to watch as 2025 approaches . For More Information: Qubetics: https://qubetics.com/ Telegram: https://t.me/qubetics Twitter: https://twitter.com/qubetics Related Items: Blockchain , Qubetic Share Tweet Share Share Email Recommended for you BlockDAG – Inter Milan Partnership, Presale Skyrockets to $173M; SUI Price Rises Amid Polkadot Rally Qubetics Tokenisation Opens New Markets – The Best Coin to Invest in December 2024 Amid Polygon’s Expansion and XRP’s Price Recovery BlockDAG’s New AMA – Big News, Bigger Plans & 170K Community Ready to Grow; LINK Price & Solana Network Activity Surge Comments
Eagles look to clinch NFC East title while Cowboys hope to play spoilerThe large package of aid includes a significant amount of munitions, including for the National Advanced Surface-to-Air Missile Systems and the Hawk air defence system. It also will provide Stinger missiles and 155mm and 105mm artillery rounds, officials said. The officials, who said they expect the announcement to be made on Monday, spoke on condition of anonymity to provide details not yet made public. The new aid comes as Russia launched a barrage of attacks against Ukraine’s power facilities in recent days, although Ukraine has said it intercepted a significant number of the missiles and drones. Russian and Ukrainian forces are also still in a bitter battle around the Russian border region of Kursk, where Moscow has sent thousands of North Korean troops to help reclaim territory taken by Ukraine. Earlier this month, senior defence officials acknowledged that the US Defence Department may not be able to send all of the remaining 5.6 billion dollars (£4.5 billion) in Pentagon weapons and equipment stocks passed by Congress for Ukraine before President-elect Donald Trump is sworn in. Mr Trump has talked about getting some type of negotiated settlement between Ukraine and Russia, and spoken about his relationship with Russian President Vladimir Putin. Many US and European leaders are concerned that it might result in a poor deal for Ukraine and they worry that he will not provide Ukraine with all the weapons funding approved by Congress. The aid in the new package is in presidential drawdown authority, which allows the Pentagon to take weapons off the shelves and send them quickly to Ukraine. This latest assistance would reduce the remaining amount to about 4.35 billion dollars (£3.46 billion). Officials have said they hope that an influx of aid will help strengthen Ukraine’s hand, should Ukrainian president Volodymyr Zelensky decide it is time to negotiate. One senior defence official said that while the US will continue to provide weapons to Ukraine until January 20, there may well be funds remaining that will be available for the incoming Trump administration to spend. According to the Pentagon, there is also about 1.2 billion dollars (£0.9 billion) remaining in longer-term funding through the Ukraine Security Assistance Initiative, which is used to pay for weapons contracts that would not be delivered for a year or more. Officials have said the administration anticipates releasing all of that money before the end of the calendar year. If the new package is included, the US will have provided more than 64 billion dollars (£50.8 billion) in security assistance to Ukraine since Russia invaded in February 2022.
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