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Tragedy Strikes German Christmas Market: Car Plows into Crowd, Leaving Two Dead and Dozens Injured

In a devastating incident at a Christmas market in Magdeburg, Germany, a car drove into a crowd, resulting in the deaths of at least two people and injuring over 60 others. The tragic event unfolded on December 20, 2024, as the festive market was bustling with visitors. The driver, identified as a doctor from Saudi Arabia residing in Germany, has been taken into custody. Authorities have confirmed that the suspect acted alone and there is no ongoing threat to the public. The victims include one adult and one child, and officials have not ruled out the possibility of additional fatalities due to the severity of some injuries. Emergency services swiftly responded to the scene, providing medical assistance to the injured and securing the area. The market has been closed, and an extensive police operation is underway. This tragic incident has cast a shadow over the holiday season, and the thoughts and prayers of many are with the victims and their families during this difficult time.
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Stock Market Today: S&P 500 Set to Build on Record High with Powell on Deck

                                        

US stocks are poised to continue their record-setting climb today as investors eagerly await Federal Reserve Chair Jerome Powell’s remarks. Here are the key points:

  1. Market Outlook:

    • The S&P 500 futures edged up 0.2%, while the tech-heavy Nasdaq 100 led the way higher with a 0.4% gain.
    • Signs of a US economic slowdown have bolstered bets on interest-rate cuts, driving fresh all-time highs for stocks.
    • Powell’s twice-yearly policy update to Congress begins today, followed by testimony to the House tomorrow. These updates may serve as catalysts for stocks if they confirm a cooling economy.

  2. Cautionary Notes:

    • Some analysts warn of a potential summer pullback, with Morgan Stanley strategist Mike Wilson calling for a 10% correction.
    • Wall Street is cautious about this earnings season due to high expectations.
    • Investors are questioning the huge inflows into AI-linked stocks, given the tech’s unproven impact.

  3. Corporate News:

    • BP’s US-listed shares fell over 4% in pre-market trading due to a refining slump and factory-linked writedown.
    • Novo Nordisk stock slipped after Wegovy lost out to Eli Lilly’s Mounjaro in an analysis of rival weight-loss drugs.

  4. Interesting Tidbit:

    • Chipotle (CMG) remains popular, especially among lower-income households, despite TikTok posts suggesting portion size reductions.

Remember to stay informed and keep an eye on Powell’s updates! 

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