December 30, 2022
United States:
US Equity Futures Drop as Brutal Year Nears End: Markets Wrap
US equity futures declined on the final trading day of 2022 as financial markets close out the worst year in more than a decade for global equities and bonds.
S&P 500 contracts slipped about 0.7%, taking the shine off the best day this month for the US index on Thursday when it jumped 1.7%. Nasdaq 100 contracts retreated more than 1% after the benchmark climbed 2.5% Thursday. The index has lost a third of value this year as tech stocks emerged as some of the most vulnerable to rising rates.
Europe:
Euro Brings Closure for Croatia Almost 30 Years After War
As rockets hit Zagreb in the violent breakup of Yugoslavia, many Croats yearned that their country would one day become an integral part of Europe. One of the generation just coming of age was new law graduate Andrej Plenkovic.
Now, as prime minister almost three decades later, Plenkovic is bringing Croatia into the euro zone and the European Union’s visa-free travel area on Jan. 1, completing its journey from the war-torn Balkans to the European mainstream.
Asia:
China’s Central Bank Pledges Support for Domestic Demand
China’s central bank pledged to support domestic demand and maintain “effective” growth of credit as the economy reopens from Covid restrictions.
Monetary policy “will focus on stabilizing growth, employment and prices, as well as supporting the expansion of domestic demand,” the People’s Bank of China said in a statement on Friday after the quarterly meeting of the monetary policy committee, which was convened by Governor Yi Gang.
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