2025-12-24 21:50
Intel falls after report Nvidia stopped using 18A process Nike up after Apple CEO buys $3 million in shares Three main indexes set for third straight yearly gains Indexes up: Dow 0.6%, S&P 500 0.32%, Nasdaq 0.22% Dec 24 (Reuters) - U.S. stocks closed higher on Wednesday, as the Dow Industrials and S&P 500 registered record closing highs in a broad rally during a holiday-shortened session. Indexes have been climbing in recent days, buoyed in part by a rebound in AI-related names after last week's selloff that was triggered by concerns about inflated valuations and high capital expenditures denting profits. Each of the major indexes recorded their fifth straight session of gains. Sign up here. But recent data showed the economy remains resilient, and the market is still pricing in roughly 50 basis points of rate cuts from the Federal Reserve next year, although expectations for a January cut are low, according to CME's FedWatch Tool , opens new tab. Data on Wednesday showed new applications for U.S. jobless benefits unexpectedly fell last week. "Yields are behaving, volume is light, but the same issues remain in place - AI is strong, there is talk of some positives here, new OpenAI and Meta models, that will get the chatter up," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. "The Fed is unlikely to lower rates again, at least for a while. Who knows what happens when May comes and we get a new head of the Fed? But we have a very low probability of a January cut." The Dow Jones Industrial Average (.DJI) , opens new tab rose 288.75 points, or 0.60%, to 48,731.16, the S&P 500 (.SPX) , opens new tab gained 22.26 points, or 0.32%, to 6,932.05 and the Nasdaq Composite (.IXIC) , opens new tab gained 51.46 points, or 0.22%, to 23,613.31. Trading volumes were thin. The U.S. markets will remain shut on Thursday for Christmas. Volume on U.S. exchanges was 7.61 billion shares, compared with the 16.21 billion average for the full session over the last 20 trading days. Micron Technology (MU.O) , opens new tab shares climbed 3.8% to end the session at a closing record of $286.68, continuing their rally after the company issued a strong forecast last week. Bank stocks also supported gains, and financials (.SPSY) , opens new tab were among the best-performing of the 11 S&P 500 sectors, with a 0.5% gain. The energy index (.SPNY) , opens new tab was the only sector in negative territory on the day. Recent gains in U.S. stocks have spurred hopes of a "Santa Claus rally," a seasonal phenomenon where the S&P 500 posts gains in the last five trading days of the year and the first two in January, according to Stock Trader's Almanac. That period began on Wednesday and runs through January 5. U.S. equities have swung sharply this year as tariff-related headlines, concerns about high valuations in technology and AI companies, and rapidly shifting interest-rate expectations boosted volatility. Wall Street's "fear gauge" (.VIX) , opens new tab was holding at levels not seen since December 2024. Still, the bull market, which began in October 2022, stayed intact as optimism around AI, rate cuts and a resilient economy supported sentiment, with all three main indexes set for their third straight yearly gain. In the year ahead, global markets will be closely watching potential successors to Fed Chair Jerome Powell, after President Donald Trump said on Tuesday that anyone who disagrees with him would "never be the Fed chairman." Nike (NKE.N) , opens new tab jumped 4.6% after Apple (AAPL.O) , opens new tab CEO Tim Cook, the sportswear giant's lead independent director, bought about $3 million of shares. Intel (INTC.O) , opens new tab shed 0.5% following a report that Nvidia has halted tests to manufacture chips using Intel's 18A production process. Dynavax Technologies (DVAX.O) , opens new tab surged 38.2% after French drugmaker Sanofi (SASY.PA) , opens new tab said it would buy the U.S. vaccines company for around $2.2 billion (1.9 billion euros). U.S.-listed shares of Sanofi edged up 0.1%. Advancing issues outnumbered decliners by a 2.37-to-1 ratio on the NYSE and by a 1.63-to-1 ratio on the Nasdaq. The S&P 500 posted 22 new 52-week highs and 2 new lows while the Nasdaq Composite recorded 56 new highs and 160 new lows. https://www.reuters.com/business/futures-dip-shortened-christmas-eve-trading-2025-12-24/
2025-12-24 21:32
WASHINGTON, Dec 24 (Reuters) - Four Democratic governors wrote to U.S. Interior Secretary Doug Burgum on Wednesday to ask the Trump administration to lift its halt on five offshore wind projects on the U.S. East Coast. The Department of the Interior on Monday attributed its suspension of the leases for the projects to national security concerns. Sign up here. However, New York Governor Kathy Hochul, Connecticut Governor Ned Lamont, Massachusetts Governor Maura Healey and Rhode Island Governor Dan McKee rejected those claims, saying that the projects had already undergone extensive federal review, including an assessment that addressed national security considerations. They said neither the Interior Department nor any other agency, including the Pentagon, informed their states about a new risk prior to the suspensions. "The sudden emergence of a new 'national security threat' appears to be less a legitimate, rational finding of fact and more a pretextual excuse to justify a predetermined outcome consistent with the President’s frequently stated personal opposition to offshore wind," the governors wrote. The Interior Department did not immediately respond to a request for comment. The suspension was the latest blow for offshore wind developers that have faced repeated disruptions to their multi-billion-dollar projects under U.S. President Donald Trump, who has said he finds wind turbines ugly, costly and inefficient. Agencies including the U.S. Departments of the Interior and Commerce and the Environmental Protection Agency have been implementing a directive to suspend all new approvals needed for both onshore and offshore wind projects pending a review of leasing and permitting practices. Earlier this month, a federal judge rejected the Trump administration's halt to all federal approvals for new wind energy projects. https://www.reuters.com/business/energy/democratic-governors-call-trump-administration-lift-freeze-offshore-wind-2025-12-24/
2025-12-24 20:40
Regulations aim to protect environment and ensure safety Support for large-scale solar projects to end in FY2027 Perovskite solar cell development to receive increased backing TOKYO, Dec 24 (Reuters) - The Japanese government will tighten regulations and end financial support for large-scale solar power projects to protect the natural environment, ensure safety and preserve landscapes, government officials said. The move is part of a package of countermeasures targeting mega-scale solar farms endorsed on Tuesday and aligns with Prime Minister Sanae Takaichi's stance calling for limits on large solar projects. She has argued that many panels are made overseas, notably in China, and that mega-solar installations risk damaging Japan's scenery and natural environment. Sign up here. Combined with growing uncertainty surrounding offshore wind projects due to rising costs and developer withdrawals, a potential slowdown in solar farm development could further dampen the pace of renewable energy growth in Japan, the world's fifth-largest carbon dioxide emitter. The government is considering discontinuing support through the feed-in tariff (FIT) and feed-in premium (FIP) schemes for ground-mounted, large-scale commercial solar power generation starting in the fiscal year beginning in April 2027, an official at the industry ministry said. Under these schemes, renewable power producers are either guaranteed a fixed purchase price for electricity over a set period or sell power on the market while receiving a premium on top of the market price. Details, such as the exact project size threshold for terminating support will be finalised later, the official said. Support for existing facilities and residential installations will continue, while backing for the development of perovskite solar cells will be strengthened. Perovskite solar cells are a next-generation solar technology developed by Japan and the government aims to promote the development. The government will also consider expanding the scope of environmental assessments. Currently, solar projects under 30 megawatts are not subject to national assessments, but it will consider broadening this requirement, another official at the environment ministry said. The discussions follow a series of disputes over mega-solar development projects near Kushiro Wetland National Park in Japan's northern island of Hokkaido and other areas. The government, led by the industry and environment ministries, began talks on strengthening regulations in September. https://www.reuters.com/sustainability/boards-policy-regulation/japan-tighten-regulations-mega-solar-projects-protect-nature-landscape-2025-12-24/
2025-12-24 20:09
Dec 24 (Reuters) - The U.S. transport safety regulator has extended an emergency waiver on driving-time limits for truckers hauling heating fuels by a few days to January 15 to speed up deliveries. The extension, which came on Tuesday, was issued because severe winter storms, extreme cold, and a major power outage at a key gas refinery in Pennsylvania disrupted propane supplies, creating immediate risks to public health, safety, and welfare in the affected states. Sign up here. U.S. rules normally require truck drivers to take mandated rest breaks and cap daily and weekly driving hours to reduce fatigue-related accidents, but regulators can temporarily waive those limits during emergencies to speed deliveries of essential supplies. The extension follows an earlier emergency declaration, issued by the U.S. Federal Motor Carrier Safety Administration, relaxing mandated rest and driving-time limits for trucks transporting heating fuels such as propane, natural gas, and heating oil across parts of the U.S. Northeast till December 26. Affected states and jurisdictions in this extension include Connecticut, Delaware, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia, the FMCSA said. https://www.reuters.com/business/energy/us-regulator-extends-driving-time-limit-waiver-heating-fuel-haulers-2025-12-24/
2025-12-24 19:52
US official says military options still exist but focus is on economic pressure Unclear how US military will focus 'almost exclusively' on interdicting Venezuelan oil Venezuela says US government is the threat, not Venezuela WASHINGTON, Dec 24 (Reuters) - The White House has ordered U.S. military forces to focus almost exclusively on enforcing a "quarantine" of Venezuelan oil for at least the next two months, a U.S. official told Reuters, indicating Washington is currently more interested in using economic rather than military means to pressure Caracas. "While military options still exist, the focus is to first use economic pressure by enforcing sanctions to reach the outcome the White House is looking (for)," the official said on Wednesday, speaking on condition of anonymity. Sign up here. While President Donald Trump has been publicly coy about his precise aims regarding Venezuela, he has privately pressured Venezuelan President Nicolas Maduro to flee the nation, Reuters has reported. Trump said on Monday it would be smart for Maduro to leave power. "The efforts so far have put tremendous pressure on Maduro, and the belief is that by late January, Venezuela will be facing an economic calamity unless it agrees to make significant concessions to the U.S.," the official said. U.S. SEEKING TO SEIZE THIRD VESSEL Trump has accused the South American country of flooding the U.S. with drugs, and his administration has for months been bombing boats originating in South America that it alleges were carrying drugs. Many nations have condemned the attacks as extrajudicial killings. Trump has also frequently threatened to start bombing drug infrastructure on land, and has authorized covert CIA activity directed at Caracas. So far this month, the U.S. Coast Guard has intercepted two tankers in the Caribbean Sea, both fully loaded with Venezuelan crude. The comments by the White House official on Wednesday come after Reuters reported that the Coast Guard was waiting for additional forces to carry out a third seizure, first attempted on Sunday, against an empty sanctioned vessel known as the Bella-1. Venezuela's U.N. Ambassador Samuel Moncada said on Tuesday: "The threat is not Venezuela. The threat is the U.S. government." HUGE U.S. MILITARY PRESENCE IN CARIBBEAN The White House official did not elaborate on precisely what it meant for the military to focus "almost exclusively" on interdicting Venezuelan oil. The U.S. military's footprint sprawls across the globe, and most missions and capabilities are unrelated to maritime interdiction. The Pentagon has amassed a huge military presence in the Caribbean with more than 15,000 troops. That includes an aircraft carrier, 11 other warships and more than a dozen F-35 aircraft. While many assets can be used to help with enforcing sanctions, many others, like fighter jets, are not well-suited for that task. On Tuesday, the United States told the United Nations it will impose and enforce sanctions "to the maximum extent" to deprive Maduro of resources. Earlier this month, Trump ordered a "blockade" of all sanctioned oil tankers entering and leaving Venezuela, but the White House official's use instead of the word "quarantine" appears to echo language used during the 1962 Cuban missile crisis, when the administration of U.S. President John F. Kennedy wanted to avoid an escalation. Robert McNamara, Kennedy's defense secretary at the time, said in 2002: "We called it a quarantine because blockade is a word of war." U.N. experts on Wednesday condemned the blockade, saying such a use of force is recognized "as illegal armed aggression". https://www.reuters.com/world/americas/white-house-orders-us-forces-focus-quarantine-venezuela-2025-12-24/
2025-12-24 19:07
BELGRADE, Dec 24 (Reuters) - The U.S. has granted Serbian oil refiner NIS (NIIS.BEL) , opens new tab until March 24 to negotiate the sale of its Russian owner's stake, Serbia's state-owned RTS TV reported on Wednesday. However, RTS said NIS had not obtained an operating licence that would allow it to buy and process crude oil. Sign up here. The U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions on NIS in October, as part of broader measures against Russia's energy sector, after granting a series of waivers since January. The sanctions have halted crude supplies via Croatia's JANAF (JANF.ZA) , opens new tab pipeline, shutting down production at the Pancevo refinery. Russia's Gazprom has an 11.3% stake in NIS, while its sanctioned oil unit Gazprom Neft (SIBN.MM) , opens new tab holds 44.9%. The Serbian government has 29.9%, with the remainder held by small shareholders and employees. Serbian President Aleksandar Vucic said on Tuesday that Gazprom was in talks with Hungary's MOL (MOLB.BU) , opens new tab over a possible sale of its majority stake in NIS. https://www.reuters.com/business/energy/serbias-nis-gets-us-approval-negotiate-sale-russian-stake-2025-12-24/
