STOCKS/ECONOMY
-Stock futures are slightly lower as the broader markets are rising a three-week winning streak. Investors are now locked in on an expected interest rate cut from the Fed later this month.
-The yield on the 10-year Treasury bond is 4.17 percent.
-Gold is at the $2,678 per ounce level. Bitcoin is at the $98,400 level.
-Asian markets closed mixed today, led by a 2.8 percent rally for the Hang Seng. The Nikkei rose 0.2 percent, and the Shenzhen fell 0.6 percent. South Korea's Kospi lost 2.8 percent as that country continues to deal with an effort to oust the president.
-The Beijing regime promised more aggressive stimulus measures after China reported a weaker than expected inflation rate and a prolonged housing slump.
OIL/ENERGY
-U.S. crude prices are up 1 percent but still at the $67 a barrel level.
-Gasoline prices are down to $3.01 a gallon, national average.
DEALS/NO DEALS
-Omnicom Group (OMC) is reportedly close to a deal to buy advertising rival Interpublic Group (IPG) in a merger that would create the world's biggest ad company with a combined $20 billion in annual revenues. Omnicom shares are down 2 percent in the premarket. Interpublic shares are up 14 percent.
MACY'S MOVE
-Activist investor Barrington Capital has reportedly built a large position in Macy's (M) shares in a bid to boost their value and force Macy's board to form a separate real estate division to sell or better monetize its many locations and other properties. Macy's shares are up 3 percent in the premarket.
FED FAITH
-President-elect Donald Trump says he has no plans to remove Fed Chairman Jay Powell from office when Trump retakes the White House.
CHIP CHOP
-A Beijing regulator says China is investigating the AI chipmaking giant Nvidia (NVDA) over possible violations to the country’s anti-monopoly law. Nvidia shares are down 2 percent in the premarket.
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