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NEW YORK, Dec 13 (Reuters) - A banner year for U.S. stocks gets one of its last big tests with the coming week’s Federal Reserve meeting, as investors await the central bank's guidance on interest rate cuts. The Nasdaq Composite index (.IXIC) , opens new tab breached 20,000 for the first time ever in the past week, another milestone for equities in a year during which the tech-heavy index has gained 32% while the S&P 500 (.SPX) , opens new tab has risen about 27%. Expectations that the Fed will cut interest rates have supported those gains. But while the central bank is expected to lower borrowing costs by another 25 basis points next week, investors have moderated their bets on how aggressively policymakers will move next year due to robust economic growth and sticky inflation. Bond yields, which move inversely to Treasury prices, have risen in recent sessions as a result, taking the benchmark U.S. 10-year yield to a three-week high of 4.38% on Friday. While stocks have pushed higher despite the rise in yields, the 10-year is approaching the 4.5% level some investors have flagged as a potential trip-wire for broader market turbulence. "Anything that results in an expectation that maybe the Fed moves even more slowly from here than investors were expecting could create a little bit of downside for stocks," said Jim Baird, chief investment officer with Plante Moran Financial Advisors. The trajectory of monetary policy is closely monitored by investors, as the level of rates dictates borrowing costs and is a key input in determining stock valuations. Interest rate expectations also sway bond yields, which can dim the allure of equities when they rise because Treasuries are backed by the U.S. government and seen as virtually risk-free if held to term. Fed fund futures indicated a 96% chance the Fed will cut by 25 basis points when it gives its policy decision on Wednesday, according to CME FedWatch data as of Friday. But the path for rates next year is less certain. Fed fund futures are implying the rate will be at 3.8% by December of next year, down from the current level of 4.5%-4.75%, according to LSEG data. That is about 100 basis points higher than what was priced in September. The Fed's summary of economic projections released at the meeting will provide one indication of where policymakers see rates heading. Officials penciled in a median rate of 3.4% for the end of next year when the summary was last released in September. One sign of potential support for a slower pace of cuts came from Fed Chair Jerome Powell , who this month said the economy is stronger now than the central bank had expected in September. Another factor that could make Fed officials more cautious about future cuts is the presidential election of Donald Trump, whose pro-growth economic policies and favoring of tariffs are causing concerns about stronger inflation next year. Analysts at BNP Paribas said they expect a "hawkish cut," with the central bank likely to "open the door for a pause in further cuts of undefined length." Carol Schleif, chief market strategist at BMO Private Wealth, said markets "will be trying to read into how worried is the Fed about inflation." November data released in the past week showed progress in lowering inflation toward the U.S. central bank's 2% target has virtually stalled. Still, analysts say the market's momentum favors more gains into year end, while sentiment among investors in surveys remains bullish - though some market technicals suggest the rally in stocks may have grown stretched. The percentage of Nasdaq constituents hitting 52-week highs has declined since the rally after the Nov 5 election, implying fewer stocks are supporting the advance, Adam Turnquist, chief technical strategist for LPL Financial, said in a note on Thursday. “History suggests the tech-heavy index could be due for a breather before longer-term momentum resumes,” Turnquist said. Sign up here. Reporting by Lewis Krauskopf; Editing by Ira Iosebashvili and Nick Zieminski Our Standards: The Thomson Reuters Trust Principles. , opens new tabWASHINGTON — Jimmy Carter, the earnest Georgia peanut farmer who as U.S. president struggled with a bad economy and the Iran hostage crisis but brokered peace between Israel and Egypt and later received the Nobel Peace Prize for his humanitarian work, has died, the Atlanta Journal-Constitution reported on Sunday. He was 100. A Democrat, he served as president from January 1977 to January 1981 after defeating incumbent Republican President Gerald Ford in the 1976 U.S. election. Carter was swept from office four years later in an electoral landslide as voters embraced Republican challenger Ronald Reagan, the former actor and California governor. ADVERTISEMENT Carter lived longer after his term in office than any other U.S. president. Along the way, he earned a reputation as a better former president than he was a president -- a status he readily acknowledged. His one-term presidency was marked by the highs of the 1978 Camp David Accords between Israel and Egypt, bringing some stability to the Middle East. But it was dogged by an economy in recession, persistent unpopularity and the embarrassment of the Iran hostage crisis that consumed his final 444 days in office. In recent years, Carter had experienced several health issues including melanoma that spread to his liver and brain. Carter decided to receive hospice care in February 2023 instead of undergoing additional medical intervention. His wife, Rosalynn Carter, died on Nov. 19, 2023, at age 96. He looked frail when he attended her memorial service and funeral in a wheelchair. Carter left office profoundly unpopular but worked energetically for decades on humanitarian causes. He was awarded the Nobel Peace Prize in 2002 in recognition of his "untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development." Carter had been a centrist as governor of Georgia with populist tendencies when he moved into the White House as the 39th U.S. president. He was a Washington outsider at a time when America was still reeling from the Watergate scandal that led Republican Richard Nixon to resign as president in 1974 and elevated Ford from vice president. "I'm Jimmy Carter and I'm running for president. I will never lie to you," Carter promised with an ear-to-ear smile. Asked to assess his presidency, Carter said in a 1991 documentary: "The biggest failure we had was a political failure. I never was able to convince the American people that I was a forceful and strong leader." ADVERTISEMENT Despite his difficulties in office, Carter had few rivals for accomplishments as a former president. He gained global acclaim as a tireless human rights advocate, a voice for the disenfranchised and a leader in the fight against hunger and poverty, winning the respect that eluded him in the White House. Carter won the Nobel Peace Prize in 2002 for his efforts to promote human rights and resolve conflicts around the world, from Ethiopia and Eritrea to Bosnia and Haiti. His Carter Center in Atlanta sent international election-monitoring delegations to polls around the world. A Southern Baptist Sunday school teacher since his teens, Carter brought a strong sense of morality to the presidency, speaking openly about his religious faith. He also sought to take some pomp out of an increasingly imperial presidency - walking, rather than riding in a limousine, in his 1977 inauguration parade. The Middle East was the focus of Carter's foreign policy. The 1979 Egypt-Israel peace treaty, based on the 1978 Camp David Accords, ended a state of war between the two neighbors. Carter brought Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin to the Camp David presidential retreat in Maryland for talks. Later, as the accords seemed to be unraveling, Carter saved the day by flying to Cairo and Jerusalem for personal shuttle diplomacy. The treaty provided for Israeli withdrawal from Egypt's Sinai Peninsula and the establishment of diplomatic relations. Begin and Sadat each won a Nobel Peace Prize in 1978. By the 1980 election, the overriding issues were double-digit inflation, interest rates that exceeded 20% and soaring gas prices, as well as the Iran hostage crisis that brought humiliation to America. These issues marred Carter's presidency and undermined his chances of winning a second term. ADVERTISEMENT On Nov. 4, 1979, revolutionaries devoted to Iran's Ayatollah Ruhollah Khomeini had stormed the U.S. Embassy in Tehran, seized the Americans present and demanded the return of the ousted shah Mohammad Reza Pahlavi, who was backed by the United States and was being treated in a U.S. hospital. The American public initially rallied behind Carter. But his support faded in April 1980 when a commando raid failed to rescue the hostages, with eight U.S. soldiers killed in an aircraft accident in the Iranian desert. Carter's final ignominy was that Iran held the 52 hostages until minutes after Reagan took his oath of office on Jan. 20, 1981, to replace Carter, then released the planes carrying them to freedom. In another crisis, Carter protested the former Soviet Union's 1979 invasion of Afghanistan by boycotting the 1980 Olympics in Moscow. He also asked the U.S. Senate to defer consideration of a major nuclear arms accord with Moscow. Unswayed, the Soviets remained in Afghanistan for a decade. Carter won narrow Senate approval in 1978 of a treaty to transfer the Panama Canal to the control of Panama despite critics who argued the waterway was vital to American security. He also completed negotiations on full U.S. ties with China. Carter created two new U.S. Cabinet departments -- education and energy. Amid high gas prices, he said America's "energy crisis" was "the moral equivalent of war" and urged the country to embrace conservation. "Ours is the most wasteful nation on earth," he told Americans in 1977. ADVERTISEMENT In 1979, Carter delivered what became known as his "malaise" speech to the nation, although he never used that word. "After listening to the American people I have been reminded again that all the legislation in the world can't fix what's wrong with America," he said in his televised address. "The threat is nearly invisible in ordinary ways. It is a crisis of confidence. It is a crisis that strikes at the very heart and soul and spirit of our national will. The erosion of our confidence in the future is threatening to destroy the social and the political fabric of America." As president, the strait-laced Carter was embarrassed by the behavior of his hard-drinking younger brother, Billy Carter, who had boasted: "I got a red neck, white socks, and Blue Ribbon beer." Jimmy Carter withstood a challenge from Massachusetts Sen. Edward Kennedy for the 1980 Democratic presidential nomination but was politically diminished heading into his general election battle against a vigorous Republican adversary. Reagan, the conservative who projected an image of strength, kept Carter off balance during their debates before the November 1980 election. Reagan dismissively told Carter, "There you go again," when the Republican challenger felt the president had misrepresented Reagan's views during one debate. ADVERTISEMENT Carter lost the 1980 election to Reagan, who won 44 of the 50 states and amassed an Electoral College landslide. James Earl Carter Jr. was born on Oct. 1, 1924, in Plains, Georgia, one of four children of a farmer and shopkeeper. He graduated from the U.S. Naval Academy in 1946, served in the nuclear submarine program and left to manage the family peanut farming business. He married his wife, Rosalynn, in 1946, a union he called "the most important thing in my life." They had three sons and a daughter. Carter became a millionaire, a Georgia state legislator and Georgia's governor from 1971 to 1975. He mounted an underdog bid for the 1976 Democratic presidential nomination, and out-hustled his rivals for the right to face Ford in the general election. With Walter Mondale as his vice presidential running mate, Carter was given a boost by a major Ford gaffe during one of their debates. Ford said that "there is no Soviet domination of Eastern Europe and there never will be under a Ford administration," despite decades of just such domination. Carter edged Ford in the election, even though Ford actually won more states -- 27 to Carter's 23. Not all of Carter's post-presidential work was appreciated. Former President George W. Bush and his father, former President George H.W. Bush, both Republicans, were said to have been displeased by Carter's freelance diplomacy in Iraq and elsewhere. ADVERTISEMENT In 2004, Carter called the Iraq war launched in 2003 by the younger Bush one of the most "gross and damaging mistakes our nation ever made." He called George W. Bush's administration "the worst in history" and said Vice President Dick Cheney was "a disaster for our country." In 2019, Carter questioned Republican Donald Trump's legitimacy as president, saying "he was put into office because the Russians interfered on his behalf." Trump responded by calling Carter "a terrible president." Carter also made trips to communist North Korea. A 1994 visit defused a nuclear crisis, as President Kim Il Sung agreed to freeze his nuclear program in exchange for resumed dialog with the United States. That led to a deal in which North Korea, in return for aid, promised not to restart its nuclear reactor or reprocess the plant's spent fuel. But Carter irked Democratic President Bill Clinton's administration by announcing the deal with North Korea's leader without first checking with Washington. In 2010, Carter won the release of an American sentenced to eight years hard labor for illegally entering North Korea. Carter wrote more than two dozen books, ranging from a presidential memoir to a children's book and poetry, as well as works about religious faith and diplomacy. His book "Faith: A Journey for All," was published in 2018. ______________________________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here .Just keep spinning. Bryant Park’s iconic carousel is back up and running two days after a fire tore through a nearby stall at the green space’s famed holiday market and shuttered several kiosks until further notice, workers told The Post on Sunday. A 19-year-old carousel worker who only gave the initials KM estimated that the carousel ride, located steps away from where Friday’s fire erupted, lost thousands of dollars on the day of the blaze when it had to be shut down. The park attraction was back up and spinning the next day. “We had to close for the day,” KM said. “I was coming into work that day, but then before I left my house, I got a message from my boss, and they were like, ‘Hey, there’s a fire. So you can’t come in to work today.’ ” Trinity Thompson, a stall worker at nearby Babka Bailout, said the fire clean-up effort “was just really fast. “The fire department came [and] blew it out. And then I think two, three hours later, it was just cleaned up in the parking lot. It’s business as usual,” said Thompson, 24. The employee wasn’t working when the fire broke out about 9:20 a.m. She said the blaze didn’t have a big impact on Babka Bailout, which is near the Seapark seafood kiosk where the fire originated. The raging fire at a stall for Seapark – which offers lobster rolls and seafood fries – was “accidental, caused by cooking oil coming in contact with combustibles,” the FDNY said. The blaze appeared to have started as a trash fire, sources told The Post, and then spread to the 6-foot-by-40-foot kiosk. The fire was placed under control by around 10 a.m., officials said later Friday. “There was slight damage to the adjacent kiosk, and there was some heat impingement on the roof of the ice-skating rink behind the kiosk on fire,” FDNY Chief of Battalion 9, Joe Castellano, told reporters at the time. “No real fire spread, just some flame impingement, and you see a little browning of the white roof structure.” Despite the swift recovery effort, not all businesses seemed to get back up on their feet as quickly as others. Seapark is one of four kiosks that remain closed until further notice, according to the vendor’s social media pages. Kiosks for Down the Chimney, Criollas and 4×4 Burger were also shuttered fornow, Seapark said. The holiday market is due to close its doors Jan. 5. “My parents and I have worked so hard to keep this business going for the last few years, and we are now going to endure an extremely heavy lost [sic],” Seapark founders’ son Daniel Xie wrote in a GoFundMe post for the eatery, which amassed nearly half of its $9,000 goal in 48 hours. While most vendors told The Post their business hadn’t been affected by the blaze – and unaffected stalls were able to open starting later in the day Friday – KM reported the carousel’s workers weren’t paid for the day off. “I’m not too worried about the carousel making money, but ... I did not get paid for not coming in that day,” KM said. “It was kind of a bummer, but, you know, s–t happens,” he said. “But still, that kind of sucks, especially during the holidays – [not] being able to help out my family” with the extra cash.
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Assad's final hours in Syria: Deception, despair and flightDong Jie's directorial vision shines through in the intricate storytelling and visually stunning aesthetics of the film. With a keen eye for detail and a deep understanding of the nuances of contemporary youth culture, he masterfully crafts a narrative that captivates and challenges audiences. Each frame is meticulously composed, drawing viewers into a mesmerizing world where the boundaries between illusion and truth are constantly shifting.
In recent years, the automotive industry has been experiencing a significant shift towards electric and hybrid vehicles as a means to reduce emissions and combat climate change. One of the most notable advancements in this space is the development of plug-in hybrid systems, which combine the benefits of traditional internal combustion engines with the efficiency and cleanliness of electric powertrains. Three standout models that have captured the attention of automotive enthusiasts and environmentalists alike are the Changan UNI-Z, Song Pro, and Enovate L7. In this article, we will compare and contrast these cutting-edge plug-in hybrid systems to determine which one stands out as the most advanced.Disparities in EV charging provision risk drop-off in UK transition, study warns
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