Overnight stock market
Most major global indices rose on Friday, with the three major US stock indices collectively closing higher. The Dow Jones Industrial Average rose nearly 1%, reaching a historic high.
Bitcoin continues to press the $100000 mark, rising to $99589 at one point during the day, setting a new historical high.
Commodity Market
The settlement price of international crude oil futures rose by over 1%. WTI January crude oil futures closed up $1.14, or 1.62%, at $71.24 per barrel, with a cumulative increase of 6.45% for the week. Brent crude oil futures for January closed up $0.94, or 1.26%, at $75.17 per barrel, with a cumulative increase of 5.81% for the week.
Market News
Putin: Russia has reserves of "hazel tree" missiles and it is necessary to carry out mass production
On the 22nd local time, Russian President Putin held a meeting with leaders of the Russian Ministry of Defense and representatives of Russian military industrial enterprises. Putin congratulated the leaders and researchers of the Ministry of Defense on the successful test launch of the "Hazel Tree" missile.
Putin stated that Russia will continue to test the "Hazel Tree" missile, including under combat conditions. Russia has a reserve of "hazel tree" missiles. The development speed of the "Hazel Tree" missile is proud and admirable, demonstrating the potential of Russia's missile industry. It is not a modernized version of the old Soviet missile system, but a creation of contemporary Russia based on the latest research and development achievements. The "Hazel Tree" missile system is another guarantee of Russia's territorial integrity and sovereignty, and there is no similar missile system abroad. The "Hazel Tree" missile system is not a strategic weapon or a weapon of mass destruction, but its effectiveness is comparable to that of strategic weapons.
Putin emphasized the need for mass production of the "hazel tree" missile. The "Hazel Tree" missile will be deployed in the Russian Strategic Missile Forces.
US President elect Trump is allowed to withdraw his' hush money 'criminal case
A judge in New York, USA, approved President elect Trump's request to withdraw his "hush money" criminal case on November 22 local time, setting December 2 as the deadline for Trump to submit a motion to withdraw and requiring prosecutors to respond before December 9.
Russian officer: 'Hazel Tree' missile system can strike targets throughout Europe
Russian President Putin held a meeting with leaders of the Russian Ministry of Defense and representatives of Russian military industrial enterprises on the 22nd local time. Russian Strategic Rocket Force Commander Karakaev stated at the meeting that the decision to develop the "Hazel Tree" missile system was made in July 2023. The large-scale use of the "hazel tree" missile would be equivalent to the use of nuclear weapons. The "Hazel Tree" missile system can strike targets throughout Europe.
Ukrainian officials claim that Russia only has two experimental samples of the "Hazel Tree" missile system
On the 22nd local time, Budanov, Director of the Intelligence Directorate of the Ukrainian Ministry of Defense, stated at a public event that as of October this year, Russia should have only produced two experimental samples of the "Hazel Tree" missile system.
Budanov emphasized that the "Hazel Tree" missile is experimental, and perhaps the Russian side will manufacture a larger quantity, but it is only a research sample and has not entered the mass production stage.
The United Nations Climate Conference enters an overtime phase
The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), originally scheduled to close on the 22nd, has entered the overtime phase. The President of the General Assembly updated the proposed text on the afternoon of the 22nd. There are still significant differences on core issues such as the new collective quantification target for climate financing (NCQG). At this conference, NCQG was the most concerned climate finance issue among all parties. In order to support developing countries in transitioning towards a climate adaptive future, all parties hope to establish global climate funding targets after 2025 based on the "developed countries donating $100 billion annually to developing countries" in 2009, and reach consensus on relevant arrangements for the funding mechanism. Therefore, this conference is also known as the 'Climate Financing Conference'.
The Federal Reserve announces details of its upcoming framework review
The Federal Reserve announced details of its upcoming framework review, including a meeting scheduled for May 15-16, 2025. The Federal Reserve stated that the framework review will not include a 2% inflation target and will focus on strategic statements and communication tools. The review will include holding public "Fed Listen" events nationwide, and debates among policy makers will begin at the January meeting.
Federal Reserve: Stable coin assets have grown significantly since April report
According to the Federal Reserve, stablecoin assets have grown significantly since the April report. The sustainability of US debt poses a top financial stability risk. Hedge fund leverage has reached its highest level since 2013, or around that level.
Data shows a sharp decline in business activity in the Eurozone in November
According to data released by Standard&Poor's Global, the Eurozone Purchasing Managers' Index fell to a 10 month low of 48.1 in November, below the 50 mark. The data also shows that due to the contraction of the service industry dominated by the eurozone and a more severe recession in the manufacturing industry, business activity in the eurozone sharply deteriorated in November. Experts say that this has sounded an alarm for eurozone policy makers, indicating that the eurozone economy continues to show signs of weakness.
WHO: Monkeypox outbreak continues to constitute a 'public health emergency of international concern'
The World Health Organization convened an emergency committee for the International Health Regulations and declared that the monkeypox outbreak continues to constitute a "public health emergency of international concern," based on the increasing number of cases and the continued spread of the epidemic.
Vice Chairman of the Security Council of the Russian Federation: If the conflict continues to escalate, no possibility can be ruled out
Russian Federation Security Council Vice Chairman Medvedev stated in a media interview that if the conflict continues to escalate, he cannot rule out any possibility. Medvedev said that since NATO member states have actually fully intervened in the conflict, they must understand that they are fighting on the side of Ukraine. They not only provide weapons to Ukraine, but also engage in direct combat because they aim at targets on Russian territory and control the activities of American or European missiles. They are at war with Russia. Since that's the case, we can't rule out any possibility.
Anthropic receives another $4 billion investment from Amazon
On November 22nd, OpenAI competitor Anthropic announced an expansion of its partnership with Amazon Web Services (AWS), including $4 billion in new funding from Amazon. This will bring Amazon's total investment in the company to $8 billion, while still being a minority shareholder.
Bosch will lay off 5500 employees worldwide, citing increasing competition and price pressure
On November 22, the German metal industry union IG Metall announced that automotive parts supplier Bosch will cut jobs related to autonomous driving and automotive steering products in Germany.
A Bosch spokesperson confirmed that the company will lay off 5500 employees worldwide, including 3800 positions in Germany. The spokesperson said, "The automotive industry is facing serious overcapacity, and competition and price pressure continue to intensify
Citigroup approved to establish regional headquarters in Riyadh, Saudi Arabia
According to the company memorandum, Citigroup has been approved by the Saudi Ministry of Investment to establish a regional headquarters in Riyadh. According to the new regulations that came into effect in Saudi Arabia this year, companies must establish regional headquarters in Saudi Arabia and have at least 15 employees, including executives responsible for affairs in other countries, otherwise they may lose business dealings with Saudi government entities. A senior advisor to the Saudi Ministry of Investment revealed last month that more than 500 companies have set up regional headquarters in Riyadh since Saudi Arabia launched the program.