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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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US Futures Rise as Inflation Cools Unexpectedly

                                            

US stock futures are on the rise today after a key report on consumer inflation surprised investors. The Consumer Price Index (CPI) declined 0.1% over the previous month, marking the first month-over-month decrease since 2020. Additionally, the annual gain in consumer prices was the slowest rise since early 2021, coming in at just 3.0% over the prior year in June.

Here are the highlights:

  • S&P 500 Futures: The broad index crossed 5,600 for the first time on Wednesday, and futures rose by 0.2% today.
  • Dow Jones Industrial Average Futures: These rose roughly 0.1%.
  • Nasdaq 100 Futures: Contracts on the tech-heavy Nasdaq 100 also gained around 0.2%.

Fed Chair Jerome Powell’s recent comments have fueled expectations of interest-rate cuts, and today’s inflation data further bolstered bets on a cut by September. Approximately 87% of traders now expect such an outcome, according to the CME FedWatch tool.

In corporate news, Costco shares rose in pre-market trading after announcing its first membership fee hike since 2017. This move is seen as reflecting price pressures on consumers. Meanwhile, PepsiCo and Delta Air Lines reported earnings, setting the stage for big bank earnings in the second quarter.

Stay tuned for more updates as the market continues to react to economic data and corporate earnings.


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