CNBC Daily Open brings investors up-to-date on global market developments. Key highlights include:
Syria’s Assad regime collapsing after 50 years, with President Bashar Al-Assad fleeing to Russia for asylum. South Korea’s president Yoon Seok Yeol survived an impeachment vote despite a narrow margin of opposition support.
Asian markets took a hit, led by South Korea’s Kospi, which plummeted over 2.7%. In contrast, US stocks reached new records as the S&P 500 and Nasdaq Composite rose on November jobs data.
China’s consumer inflation rate fell to a five-month low in November, with core inflation rising 0.3%. Local electric car companies are poised for growth in China’s EV market in 2025.
The bottom line: Political turmoil may impact year-end rallies, but economic data suggests markets could rise. The US Federal Reserve is expected to cut interest rates next week, supporting market gains. However, the incoming Trump administration looms as a challenge for 2025.
Source: https://www.cnbc.com/2024/12/09/cnbc-daily-open-political-uncertainty-intensifies-over-the-weekend-.html