Category: News
Trump Says Netanyahu Pardon “On Its Way”, Israeli President Says Otherwise
Trump Says Netanyahu Pardon “On Its Way”, Israeli President Says Otherwise
Authored by Travis Gilmore via The Epoch Times,
President Donald Trump said on Dec. 29 that Israeli President Isaac Herzog told him a pardon for Prime Minister Benjamin Netanyahu was “on its way.” That assertion, however, was disputed by Herzog’s office.
“He’s a wartime prime minister who’s a hero. How do you not give a pardon?” Trump, while standing alongside Netanyahu, told reporters ahead of a meeting at his Mar-a-Lago resort in Palm Beach, Florida.
“I spoke to the president … he tells me it’s on its way.”
Trump suggested the fate of Israel would be far worse if Netanyahu had not been in charge during recent crises—including the Oct. 7, 2023, Hamas terrorist attacks.
“If you had the wrong prime minister right now, Israel would not exist,” Trump said.
“They were met with a force the likes of which very few countries could have handled.”
Herzog’s office, nevertheless, issued a statement that appeared to contradict Trump’s comments.
When asked about the U.S. president’s remarks, Herzog’s office said the Israeli president had not spoken with Trump since a pardon request was submitted several weeks ago.
“There has not been a conversation between President Herzog and President Trump since the pardon request was submitted,” the statement read.
“Several weeks ago, a conversation took place between President Herzog and a representative on behalf of President Trump, who inquired about the U.S. President’s letter. During that conversation, an explanation was provided regarding the stage of the process in which the request currently stands, and that any decision on the matter will be made in accordance with the established procedures.
“This was conveyed to President Trump’s representative, exactly as President Herzog stated publicly in Israel.”
Netanyahu is the first Israeli prime minister to be charged with a crime while in office. He denies the bribery, fraud, and breach-of-trust charges stemming from his 2019 indictment.
His own request for a pardon, submitted on Nov. 30, argued that frequent court hearings hamper his ability to govern and that clemency would be in the national interest. The appeal was lodged following the start of a U.S.-brokered cease-fire in Gaza.
Netanyahu’s appeal for clemency has been criticized by his opponents, who said that pardoning him mid-trial would be a breach of the rule of law, according to the Times of Israel.
As per Israeli law, the president has the authority to pardon convicts; however, there is no precedent for issuing a pardon while a trial is still ongoing.
Netanyahu’s quest for a pardon has been supported by Trump, who wrote a formal letter to Herzog in November urging him to grant clemency, calling the case against the Israeli prime minister “political, unjustified prosecution.”
During their Mar-a-Lago meeting on Dec. 29, Trump and Netanyahu discussed Gaza, Iran, Syria, and other matters.
“We had a big meeting with a lot of people, a lot of talent from Israel and from the U.S.,” Trump said after the meeting.
“And I think we came to a lot of conclusions. There’s very little difference in what we’re looking at, and where we want to be, where we want to go.”
Netanyahu expressed gratitude for a “very productive meeting.”
“I think we have a partnership … second to none,” he said. “It’s allowed us to do tremendous things.”
Ahead of the meeting, Trump said they would begin the second phase of the peace plan in Gaza “as quickly as we can.”
“But there has to be a disarming of Hamas,” he noted.
Rebuilding the war-torn region is a priority, and sanitization efforts are underway, Trump said.
“It’s been a mess for a long time, but we’re going to straighten it out,” Trump said. “We’re helping the people of Gaza a lot, and so is Israel.”
Netanyahu thanked Trump for the opportunity to meet and for his continued support of Israel.
“We’ve never had a friend like President Trump in the White House. It’s not even close,” the prime minister said.
“I think it’s not merely Israel’s great fortune; it’s the world’s great fortune.”
After the meeting, Netanyahu said his nation would award its highest civilian honor, the Israel Prize, to Trump, who will be the first non-Israeli to receive the prize. The prize was announced formally on Monday by Israel’s minister of education.
Tyler Durden
Tue, 12/30/2025 – 09:15
Leaders from Europe and Canada discuss US-led peace efforts as Russia-Ukraine tensions spike
KYIV, Ukraine — Leaders from Europe and Canada held talks Tuesday on U.S.-led peace efforts to end the nearly four-year war between Russia and Ukraine, as Moscow and Kyiv sparred over Russian claims, denied by Ukraine, of a mass drone attack on a lakeside residence used by President Vladimir Putin.
The virtual meeting included European leaders as well as Canadian Prime Minister Mark Carney, heads of European institutions and NATO Secretary-General Mark Rutte, according to Polish Prime Minister Donald Tusk.
“Peace is on the horizon,” Tusk told a Polish Cabinet meeting. But he added: “It is still far from a 100% certainty.”
It was the first meeting of European leaders since U.S. President Donald Trump hosted Ukrainian President Volodymyr Zelenskyy at his Florida resort on Sunday. Trump insisted that Ukraine and Russia are “closer than ever before” to a peace settlement, although he acknowledged that outstanding obstacles could still prevent a deal.
“We are moving the peace process forward,” German Chancellor Friedrich Merz, who attended the talks, said in a post on X. “Transparency and honesty are now required from everyone — including Russia.”
His pointed reference to Russia came after Russian and Ukrainian officials exchanged bitter accusations over Moscow’s allegations that Ukraine attempted to attack the Russian leader’s residence in northwestern Russia with 91 long-range drones almost immediately after Trump’s Sunday talks with Zelenskyy.
The claims and counterclaims threatened to derail peace efforts. “I don’t like it. It’s not good,” Trump said Monday after Putin told him by phone about the alleged attack.
Ukrainian Foreign Minister Andrii Sybiha noted Tuesday that Russia “still hasn’t provided any plausible evidence” to support its allegations.
Moscow won’t do so because “no such attack happened,” he wrote on X.
“Russia has a long record of false claims,” he added, referencing the Kremlin’s denials it intended to attack Ukraine ahead of its Feb. 24, 2022, all-out invasion of its neighbor.
Zelenskyy, speaking Monday, also branded the allegation as “another lie” from Moscow designed to sabotage peace efforts.
Kremlin spokesperson Dmitry Peskov countered Tuesday that the alleged Ukrainian attack is “aimed at thwarting President Trump’s efforts to promote a peaceful resolution” to the war.
Russia and Ukraine have throughout the war exchanged accusations about attacks that cannot be independently verified because of the fighting.
Peskov didn’t say whether Moscow would present physical evidence of the attack, such as drone wreckage, saying that such a step would be a matter for Russia’s military. “I don’t think there needs to be any evidence here,” he said.
The rural Novgorod region is home to one of the Russian presidency’s official residences, Dolgie Borody, close to the town of Valdai, about 400 kilometers (250 miles) northwest of Moscow. The area has been used to host a vacation retreat for high-ranking government officials since the Soviet era.
The Institute for the Study of War, a Washington think tank, said that since Trump launched a diplomatic push at the start of the year to end the war, “the Kremlin has sought to delay and prolong peace negotiations in order to continue its war undisturbed, prevent the U.S. from imposing measures intended to pressure Russia into meaningful negotiations, and even to extract concessions about bilateral U.S.-Russian relations.”
Davies reported from Leicester, England. Jamey Keaten in Geneva contributed.
https://www.chicagotribune.com/2025/12/30/world-leaders-russia-ukraine-tensions/
“Stark Reversal” From Pandemic: US Home Price Growth Slowest Since Q2 2023
“Stark Reversal” From Pandemic: US Home Price Growth Slowest Since Q2 2023
Home prices in America’s largest 20 cities surged 0.32% MoM in October (far higher than the +0.1% MoM move expected) but for context, this is the weakest annual home price growth since the March through July 2023 period, when the market was absorbing the initial shock of the Fed’s rapid rate hikes
Source: Bloomberg
“October’s data show the housing market settling into a much slower gear, with the National Composite Index up only about 1.4% year over year – among the weakest performances since mid-2023,” said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices.
“This broad stagnation suggests that elevated mortgage rates – still hovering around the mid-6% range in late October – are finally overwhelming the market’s earlier supply-driven resilience. Would-be buyers are facing the highest borrowing costs in decades, and that affordability squeeze has curbed demand enough to erode price momentum across most of the country.”
But could be set to improve in the (lagged) months ahead…
Source: Bloomberg
Regional performance underscores a striking geographic rotation.
Chicago now leads all major markets with a 5.8% annual price gain, followed by New York at 5.0% and Cleveland at 4.1%. These traditionally stable Midwestern and Northeastern metros have sustained solid growth even as broader conditions soften.
By contrast, Tampa home prices are down 4.2% year over year – the steepest drop among the 20 cities, marking Tampa’s 12th consecutive month of annual declines. Other former highflyers in the Sun Belt are similarly struggling: Phoenix (-1.5%), Dallas (-1.5%), and Miami (-1.1%) all remain in negative territory.
As Godec notes, “it’s a stark reversal from the pandemic boom, as the markets that were once ‘pandemic darlings’ are now seeing the sharpest corrections while more traditional metros continue to post modest gains.”
Tyler Durden
Tue, 12/30/2025 – 09:08
Meta “Joining Forces” With China-Founded Manus AI In $2 Billion Deal
Meta “Joining Forces” With China-Founded Manus AI In $2 Billion Deal
Mark Zuckerberg has been aggressively repositioning Meta Platforms’ focus and spending toward artificial intelligence, particularly to achieve “personal superintelligence” that enhances existing apps like Facebook and Instagram and, of course, boosts revenue. Put simply, the pivot to AI looks like a far better venture than Zuckerberg’s absolutely horrendous bet on the metaverse.
A new Wall Street Journal report on Tuesday said that Meta is buying an AI startup with Chinese founders that conducts deep research called Manus. The move is a familiar strategy: if you cannot beat the competition, buy it. Zuckerberg has repeatedly taken this approach this year, including aggressively poaching AI talent across Silicon Valley.
Manus is entering the next chapter: we’re joining forces with Meta to take general agents to the next level.
Full story on our blog: https://t.co/huPrnbITCi
— Manus (@ManusAI) December 29, 2025
People familiar with the Meta-Manus deal say the acquisition will cost upwards of $2 billion. At the same time, Manus was seeking a new round of fundraising at roughly that valuation when Meta approached with an offer.
In a statement to the Financial Times, Meta said it would “operate and sell the Manus service” while integrating its technology into its own products, such as the Meta AI chatbot.
Meta noted that Manus is one of the “leading autonomous general-purpose agents,” with tools capable of performing tasks including market research, coding, and data analysis. Meta could ultimately offer this new AI agent service for as little as $20 per month.
The acquisition stands out as one of the most high-profile deals to date involving a U.S. tech giant purchasing an AI product built within Asia’s AI and startup ecosystem. It highlights how AI innovation is no longer confined to Silicon Valley, but is emerging across parts of Asia. The deal also highlights a strategic shift by U.S. tech giants toward acquiring proven AI products and talent overseas, rather than relying solely on in-house development, as the race for AI agents and automation intensifies following China’s DeepSeek debut earlier this year.
Manus raised $75 million in a Series B funding round led by U.S. venture firm Benchmark in April. Political scrutiny surrounding the VC firm’s funding round with the China-linked startup later prompted Manus to relocate its headquarters to Singapore.
WSJ reported that Manus CEO Xiao Hong will soon report to Meta COO Javier Olivan. The startup employs about 100 staff, primarily in Singapore.
Using publicly available data from the supply chain analysis firm Sayari, Manus is owned by Singapore-registered Butterfly Effect Technology (Butterfly Effect Pte. Ltd.). The founders include Xiao Hong, often called “Red,” as CEO and co-founder; Yichao “Peak” Ji as chief scientist and co-founder; and Zhang Tao as co-founder and product partner.
“In this AI wave, Chinese entrepreneurs building open-source large models or AI applications have been iterating the fastest and are highly competitive,” Li Chengdong, founder of the Haitun internet think tank, told the FT. He added, “An incredible company and team are being sold to the United States. If China does not value talent and entrepreneurs and does not respect the basic rules of capital, it will ultimately be very hard for the country to win the China-US tech war.”
Tyler Durden
Tue, 12/30/2025 – 09:00
https://www.zerohedge.com/ai/meta-joining-forces-asia-based-manus-ai-2-billion-deal
Glenview sees development proposals, crash tragedies, armed robbery, composting in 2025
Here is a look back at 10 of the top happenings of 2025 in the village of Glenview.
Glenview police officer mourned
The Glenview Police Department and village officials mourned the loss of Police Officer Robert Fryc, who was killed in a February car crash while on his way to work.
Authorities said another driver veered into Fryc’s lane on Northwest Highway in Barrington, shortly after 4 a.m. on Feb. 16, striking Fryc’s car and causing his death.
Fryc had been a Glenview police officer for nearly 18 years. Just days before he was killed, he was recognized at a Glenview Village Board meeting for helping to save the life of a fellow
officer who head suffered a medical emergency outside the station.
“Officer Fryc was more than just a colleague,” Glenview Police Chief William Fitzpatrick said in a statement issued following Fryc’s death. “He was a part of our family and a part of this
community.”
Family and friends of Glenview Police Officer Robert Fryc, as well as Glenview police and police from many other agencies, attended his funeral Feb. 21, 2025, at Our Lady of the Wayside Catholic Church in Arlington Heights. Fryc died in a traffic accident on his way to work, the Glenview police department had earlier said. (Village of Glenview)
100 new homes approved
Major residential developments were approved by Glenview trustees this year for large swaths of land that have been vacant for some time.
In February, a 60-home development was approved for the 19-acre former Scott Foresman headquarters at 1900 East Lake Avenue. Under the plan, at least nine of the constructed
homes will be single-story ranches, while the remainder will be two-story. While concerns about increases in school-age children were raised, representatives of the developer said primary bedrooms on the first floor will make the homes more palatable to Baby Boomers and “empty nesters.”
Home prices will range from $900,000 to $1.3 million, said Jeff Brady, community development director for the village.
The site has been vacant since June 2020 and Landmarks Illinois identified the mid-century modern campus as one of the state’s most endangered historic places.
In April, trustees approved 20 two-story duplex homes—a total of 40 residences—at the southwest corner of Willow and Pfingsten Roads, now a vacant property. The plan called for the
residences to be rentals.
The property had previously been zoned for commercial use and a commercial development was approved in 2023, but never constructed.
Naval Air Station Museum collection transferred to Glenview History Center
The Glenview Hangar One Foundation and Glenview History Center in October announced that an agreement had been reached to transfer stewardship of the Naval Air Station Museum collection from the foundation to the history center.
The Naval Air Station Museum, which contained artifacts from the former Naval Air Station Glenview and was most recently located at 2040 Lehigh Ave., closed on Oct. 1.
According to the foundation, the museum’s collection includes more than 2,000 photographs, posters and prints, plus another 1,200 digital images related to the former air station and its
activities; a former Coast Guard helicopter; a World War II TBM Avenger aircraft piston engine that was raised from the lake; military uniforms; and more.
The history center is reported to be working with the village of Glenview and the Glenview Public Library on storage and identifying a new location to display pieces from the collection.
Residents seek ICE ban on village-owned property
Immigration and Customs Enforcement activity ramped up around the Chicago area this year as part of a Trump administration initiative dubbed Operation Midwest Blitz. In November, a number of residents, concerned by reports of masked agents detaining individuals—sometimes violently—without warrants and in public places around the Chicago area, addressed the Glenview Village Board, asking village officials to ban federal agents from using municipal property for their operations.
The residents also asked for better communication from the village regarding such activities and the rights of residents, workers and visitors to Glenview.
The board did not commit to taking any action banning federal officials from government property, with Mayor Michael Jenny calling such action “not enforceable” and “symbolic.”
On Nov. 24, the village responded to requests for communication and information by posting on its website a list of frequently asked questions related to ICE activity. The FAQ did note that Glenview police officers will respond to 911 calls related to concerns about particular ICE activity and will “assess the scene, follow state law and do everything possible to ensure the safety of all individuals.”
Fiery crash claims three lives
Two lifelong friends from Aurora, age 22, and their 20-year-old passenger from Wisconsin were killed in January in a single-vehicle crash near the intersection of West Lake Avenue and
Pfingsten Road.
The crash caused the car to burst into flames and the three victims were pronounced dead at the scene, police said.
Former industrial site eyed for recreational and open space use
The Glenview Village Board in November voted to purchase the 56-acre former Signode Industrial Group campus, northeast of Pfingsten Road and West Lake Avenue, at a cost of $23.4 million. Additional environmental studies are being conducted ahead of a scheduled real estate closing on the property, currently scheduled to take place in early 2026.
If acquired, this will be Glenview’s largest land redevelopment since The Glen was created in the early 2000s. While plans for the property are still to be determined, village officials have
called for open space and recreational uses, with master planning sessions with community members taking place in the spring. Playgrounds, athletic fields, sports facilities, trails and
natural areas are all ideas for the site, said Jeff Brady, community development director for the village.
Trustees vote to continue 1% grocery tax
When the Illinois General Assembly voted to end the state’s 1% tax on groceries, municipalities were faced with a tough decision: Forego the revenue this tax generated or adopt a local 1% tax to cover the loss.
Glenview, like many communities, opted for the latter, with trustees voting in August to establish a 1% municipal grocery tax, effective on Jan. 1.
The grocery tax equates to $1 on every $100 in groceries purchased and is expected to generate approximately $2.7 million.
Trustees Jim Bland and Mary Cooper voted against the tax, saying it would hurt lower income residents.
Couple robbed outside home
An April night turned terrifying for a Glenview couple who were robbed at gunpoint shortly after returning home.
Police said three men accosted the couple and demanded their belongings before fleeing in a Jaguar SUV that had been reported stolen.
Angelo B. Hatter, 26, of Chicago, was arrested in June in connection with the incident and charged with armed robbery with a firearm, police said. He remains in custody in Cook County Jail, according to the Sheriff’s Department.
Oil Lamp Theater holds fundraising campaign for relocation
Glenview’s own storefront theater announced plans to grow in 2025.
In October, Oil Lamp Theater launched “Light the Way,” a $5 million capital campaign to renovate the former Country Cobbler Shoe Store, located across the street from the existing theater at 1723 Glenview Road.
The renovations will add 83 more seats for live productions, as well as a larger stage, better sight lines for the audience, sound and lighting improvements, and more.
If the capital campaign is successful, the goal is for the new theater to open by the end of 2027.
As Glenview officials focus on the revitalization of downtown, Oil Lamp’s Executive Director Jay Pastucha believes the theater will have a “big impact” on the commercial district’s future.
Pilot program popularizes composting
A little composting program had big results in Glenview this year.
In July, bins accepting kitchen food scraps for compost were made available at the Glenview Public Library and Glenview Public Works Department. The project, aimed at educating
residents about keeping food waste out of landfills, was supposed to last three months. But thanks to additional funding from the local Judy Beck Grant and donations from supporters, the program was extended through January.
As of mid-December, 125 32-gallon bins were collected from the two sites—a total weight of 16,725 pounds of food scraps, said Mary Munday of Greener Glenview, the organization that is
leading the effort with Evanston-based Collective Resource Compost Cooperative.
“The pilot program was a resounding success,” Munday said.
According to an email from Assistant Village Manager Nick Santoro, the village will take over the program on Feb. 1, with the drop-off sites remaining the same.
The year’s first meteor shower and supermoon clash in January skies
NEW YORK — The year’s first supermoon and meteor shower will sync up in January skies, but the light from one may dim the other.
The Quadrantid meteor shower peaks Friday night into Saturday morning, according to the American Meteor Society. In dark skies during the peak, skygazers typically see around 25 meteors per hour, but this time they’ll likely glimpse less than 10 per hour due to light from Saturday’s supermoon.
“The biggest enemy of enjoying a meteor shower is the full moon,” said Mike Shanahan, planetarium director at Liberty Science Center in New Jersey.
Meteor showers happen when speedy space rocks collide with Earth’s atmosphere, burning up and leaving fiery tails in their wake — the end of a “shooting star.” A handful of meteors are visible on any given night, but predictable showers appear annually when Earth passes through dense streams of cosmic debris.
Supermoons occur when a full moon is closer to Earth in its orbit. That makes it appear up to 14% bigger and 30% brighter than the faintest moon of the year, according to NASA. That difference can be tough to notice with the naked eye.
Supermoons, like all full moons, are visible in clear skies everywhere that it’s night. The Quadrantids, on the other hand, can be seen mainly from the Northern Hemisphere. Both can be glimpsed without any special equipment.
To spot the Quadrantids, venture out in the early evening away from city lights and watch for fireballs before the moon crashes the party, said Jacque Benitez with the Morrison Planetarium at the California Academy of Sciences. Skygazers can also try looking during early dawn hours on Sunday.
Wait for your eyes to get used to the darkness, and don’t look at your phone. The space rocks will look like fast-moving white dots and appear over the whole sky.
Meteor showers are named for the constellation where the fireballs appear to come from. The Quadrantids — space debris from the asteroid 2003 EH1 — are named for a constellation that’s no longer recognized.
The next major meteor shower, called the Lyrids, is slotted for April.
Supermoons happen a few times a year and come in groups, taking advantage of the sweet spot in the moon’s elliptical orbit. Saturday night’s event ends a four-month streak that started in October. There won’t be another supermoon until the end of 2026.
https://www.chicagotribune.com/2025/12/30/years-first-meteor-shower-supermoon/
Israel says it will halt operations of several humanitarian organizations in Gaza starting in 2026
JERUSALEM — Israel says it will suspend several humanitarian organizations, including Doctors Without Borders, for failing to meet its new rules to vet international organizations working in Gaza.
The Ministry of Diaspora Affairs said the organizations that will be banned on Jan. 1 did not meet its new requirements for sharing staff, funding and operations information. It accused Doctors Without Borders of failing to clarify the roles of some staff that Israel accused of cooperation with Hamas and other fighter groups.
Doctors Without Borders did not comment, but other international organizations have said that Israel’s rules are arbitrary and could endanger staff.
https://www.chicagotribune.com/2025/12/30/israel-humanitarian-organizations-gaza/
Futures Flat, Precious Metals Rebound On Last Full Trading Session Of 2025
Futures Flat, Precious Metals Rebound On Last Full Trading Session Of 2025
Stock struggled to find direction amid a year-end lack of catalysts and the traditional lull in trading in the final trading days of the year. After suffering one of the biggest one-day drops on record, silver and gold regained their footing after sliding from all-time highs. As of 8:15am, the S&P 500 was set to open flat, while Nasdaq futures fractionally in the red after back-to-back losses. In premarket trading, Mag 7 stocks are mixed while US silver and gold stocks are higher as the precious metals rebound from Monday’s drop with gainers including Hecla (HL) +2.4%, Coeur (CDE) +2.8% and Barrick (B) +2.4%. European stocks outperformed as rising metal prices boosted miners, while a gauge of Asian shares nudged lower. In the most notable overnight FX move, China’s onshore yuan strengthened past the key 7-per-dollar level for the first time since 2023. The greenback remained on course for its worst month since August. Treasuries fell across the curve, with the 10-year yield rising three basis points to 4.14%. Today’s US economic data calendar includes the weekly ADP employment change (8:15am), the Case-Shiller home price index (9am), December MNI Chicago PMI (9:45am) and the December Dallas Fed services activity (10:30am). The Fed is set to release minutes of the December FOMC meeting at 2 p.m
In premarket trading, Mag 7 stocks were mixed (Tesla +0.7%, Nvidia +0.1%, Alphabet little changed, Microsoft -0.2%, Amazon -0.1%, Meta Platforms -0.2%, Apple -0.2%)
Silver and gold mining stocks are higher as the precious metals rebound, with gainers including Hecla (HL) +2.4%, Coeur (CDE) +2.8% and Barrick (B) +2.4%
Freeport-McMoRan (FCX) rises 1.9% as copper headed for the longest winning run since 2017 in a December rally powered by the prospect of more stress in the supply chain.
OceanFirst Financial (OCFC) slips less than 1% on light trading after agreeing to buy Flushing Financial.
T1 Energy Inc. (TE) climbs 5% after the solar equipment manufacturer announced the completion of a $160 million sale of Section 45X production tax credits.
In corporate news, Citigroup expects to post a roughly $1.1 billion after-tax loss on the sale of its remaining business in Russia to Renaissance Capital. And Meta agreed to buy Singapore-based startup Manus, an AI agent that can complete general tasks including screening resumes, creating trip itineraries and analyzing stocks in response to basic instructions. The deal values Manus at more than $2 billion. Tesla published a compilation of analyst estimates for vehicle deliveries to its website, and the averages for the current quarter are more pessimistic than those gathered by Bloomberg.
Global equities are on track for a third straight annual gain in a year when European and Asian stocks trounced the S&P 500. With news flow and trading volumes generally low, investors will focus on the release of minutes from the Federal Reserve’s December meeting for clues about the interest-rate path for 2026. Tuesday also marks the last trading session of the year for many equity markets, including Germany, Japan and South Korea.
“The overriding theme is that global stock indices have lost momentum into year-end,” wrote Kathleen Brooks, research director at XTB. “There are plenty of reasons for this, including decent returns for 2025, and investors waiting to make big trading decisions until after the Christmas break.”
Still, as Bloomberg notes, investors have reason to be optimistic heading into the new year. MSCI’s gauge for global stocks has climbed an average 1.4% in January over the last 10 years and advanced in six of those instances, Bloomberg data show.
The dollar and Treasury yields are marking time before the 2 p.m. ET release of minutes from the Fed’s December meeting, which saw a third consecutive cut. Amid signs of growing division about where policy heads next, rates may remain on hold until a new chair is in place. Trump teased that he has a preferred candidate to succeed Jerome Powell, but is in no hurry to make an announcement. Wall Street rate strategists, with several notable exceptions, anticipate stable-to-higher Treasury yields in 2026, even with the Fed expected to cut rates as many as three more times.
For another session, precious metals were in focus after trading turned volatile in the last few days. Silver rebounded 5% after tumbling 9% in the previous session. Gold was up 1.5% after losing more than 4%. Among other metals, copper headed for the longest winning streak since 2017 in a rally boosted by the prospect of more stress in the supply chain. Nickel hit the highest since March after top producer Indonesia flagged plans to cut supply.
Meanwhile, President Donald Trump said that he has a preferred candidate to be the next chair of the Federal Reserve, but is in no hurry to make an announcement. He also mused that he might fire Jerome Powell.
In geopolitics, Trump’s campaign to end the war in Ukraine hit fresh problems on Monday when Putin said he would revise Russia’s negotiating position, claiming Ukrainian drones targeted his residence. Zelenskiy dismissed Russia’s allegation as a “new lie” and warned that Moscow could be using it as a pretext to prepare an attack on government buildings in Kyiv. Oil prices are extending Monday’s gains as traders weigh geopolitical tensions from Russia to Venezuela and Iran against concern about a glut. Crude remains on course for a steep annual drop because of worries that global production will eclipse demand after OPEC and its allies ramped up output to try to recapture market share.
In Europe, the Stoxx 600 is up 0.4% and on course for a record close. Mining stocks are outperforming, tracking gains across most of the metals complex. Banks also outperform. Here are some of the biggest movers on Tuesday:
Fresnillo shares climb as much as 3.7% after Citigroup Inc. analysts boosted their price target on the company while maintaining a buy rating, to take account of higher silver and gold prices.
Earlier in the session, Asian equities edged lower, snapping a seven-day winning streak, as losses in Taiwan and Japan offset gains in Hong Kong. The MSCI Asia Pacific index fell 0.1%, with TSMC and Hon Hai Precision Industry Co. among the biggest drags. Tuesday marked the last trading day of the year for several Asian markets, including Japan, South Korea and Thailand. The Philippines remained closed for a holiday. Some of the region’s tech shares tracked a selloff in US peers ahead of the year-end. China’s new round of military drills around Taiwan also weighed on investor sentiment. Meanwhile, it was a busy day for stock market listings in Hong Kong, with some of the debuts trading mostly higher. Insilico Medicine Cayman TopCo, an AI drug discovery startup, jumped as much as 48%.
In FX, the Bloomberg Dollar Spot Index is little changed. The euro is flat with little reaction seen after Spanish harmonized CPI slowed as expected.
In rates, treasuries are trading near session lows as US trading gets under way for the year’s final full session; cash and futures markets plan early closes for Wednesday, when the Bloomberg Treasury index will rebalance at 1 p.m. New York time with a 0.06-year duration extension estimated. Yields are higher by about 2-3bp across tenors, the 10-year near 4.14%, with curve spreads little changed. Bunds are a touch lower while gilts inch higher. Treasuries are headed for a small monthly loss amid signs of US economic resilience, yet still on pace for their best annual performance since 2020 following three Fed interest-rate cuts in response to weakening labor-market conditions. Swap contracts for predicting Fed moves price in low probability of a rate cut for the next policy decision on Jan. 28 but fully price one in by mid-year and two by year-end.
In commodities, spot silver rises 4% while gold and most base metals are also in the green. WTI crude futures climb 0.4% to $58.30 a barrel.
US economic data calendar includes weekly ADP employment change (8:15am), October FHFA house price index and S&P Cotality home price gauges (9am), December MNI Chicago PMI (9:45am, several minutes earlier for subscribers) and December Dallas Fed services activity (10:30am). The Fed is set to release minutes of the December FOMC meeting at 2 p.m.; the decision to cut interest rates by a quarter point drew two dissents in favor of no action and one in favor of a bigger reduction.
Market Snapshot
S&P 500 mini little changed
Nasdaq 100 mini little changed
Russell 2000 mini +0.2%
Stoxx Europe 600 +0.4%
DAX +0.3%
CAC 40 +0.3%
10-year Treasury yield +1 basis point at 4.12%
VIX +0.3 points at 14.47
Bloomberg Dollar Index little changed at 1200.33
euro little changed at $1.1774
WTI crude +0.5% at $58.35/barrel
Top Overnight News
Trump Says US Forces Struck Narcotics Loading Docks in Venezuela: BBG
Russia says its negotiating stance on Ukraine will toughen after accusing Kyiv of attack: RTRS
China encircles Taiwan in massive military display: RTRS
China’s Push to Master the Arctic Opens an Alarming Shortcut to U.S: WSJ
Emboldened Activist Investors Are Circling U.S. Banks: WSJ
Russia shows off deployment of nuclear-capable Oreshnik missiles in Belarus: RTRS
Russia attacks Ukraine’s Black Sea ports, damages civilian ship, Kyiv says: RTRS
Facing Alawite backlash, Syria’s new leaders take controversial steps to win loyalty: RTRS
Silver Jumps in Choppy End to Year for Metals: WSJ
Meta Buys AI Startup Manus for More Than $2 Billion: RTRS
AI Trade’s Next Leg Is All About Tech’s ‘Pick-and-Shovel’ Stocks: BBG
Saudi Ultimatum Deepens Its Rift With Gulf Rival U.A.E.: WSJ
Cancer’s Soaring Cost Wrecks Patients’ Finances in a Broken System: BBG
Caterpillar’s Surging Stock Is Fueled by AI, Not Yellow Excavators: WSJ
NYC Subway Says Goodbye to MetroCard, But Many Riders Already Did: BBG
US Event Calendar
9:00 am: Oct FHFA House Price Index MoM, est. 0.1%, prior 0%
9:00 am: Oct S&P Cotality CS 20-City YoY NSA, est. 1.1%, prior 1.36%
9:00 am: Oct S&P Cotality CS U.S. HPI YoY NSA, prior 1.29%
9:45 am: Dec MNI Chicago PMI, est. 40, prior 36.3
2:00 pm: Dec 10 FOMC Meeting Minutes
Tyler Durden
Tue, 12/30/2025 – 08:48
In a tumultuous year, US health policy has been dramatically reshaped under RFK Jr.
WASHINGTON — In the whirlwind first year of President Donald Trump’s second term, some of the most polarizing changes have taken place within the Department of Health and Human Services, where Robert F. Kennedy Jr. has openly rebuffed the medical establishment as he converts the ideas of his Make America Healthy Again movement into public policy.
Since entering office in February, the health secretary has overseen a dramatic reshaping of the agencies he oversees, including eliminating thousands of jobs and freezing or canceling billions of dollars for scientific research. As part of his campaign against chronic disease, he has redrawn the government’s position on topics such as seed oils, fluoride and Tylenol. He also has repeatedly used his authority to promote discredited ideas about vaccines.
The department’s rapid transformation has garnered praise from MAHA supporters who say they long viewed HHS as corrupt and untrustworthy and have been waiting for such a disruption. And both Democrats and Republicans have applauded some of the agency’s actions, including efforts to encourage healthy eating and exercise, and deals to lower the prices of costly drugs.
But many of the drastic changes Kennedy has led at the department are raising grave concerns among doctors and public health experts.
“At least in the immediate or intermediate future, the United States is going to be hobbled and hollowed out in its scientific leadership,” said Lawrence Gostin, a Georgetown University public health law professor who was removed from a National Institutes of Health advisory board earlier this year with a letter that said he was no longer needed. “I think it will be extraordinarily difficult to reverse all the damage.”
HHS spokesperson Andrew Nixon denied any threat to scientific expertise at the agency and lauded its work.
“In 2025, the Department confronted long-standing public health challenges with transparency, courage, and gold-standard science,” Nixon said in a statement. “HHS will carry this momentum into 2026 to strengthen accountability, put patients first, and protect public health.”
The overhaul comes alongside broader uncertainties in the nation’s health system, including Medicaid cuts passed by Congress this year and expiring Affordable Care Act subsidies that are putting millions of Americans’ insurance coverage in jeopardy.
Here’s a closer look at Kennedy’s first year leading the nation’s health agency:
Kennedy’s vaccine views ripple across the department
After many years spent publicly assailing vaccines, Kennedy sought during his confirmation process to reassure senators he wouldn’t take a wrecking ball to vaccine science. But less than a year later, his health department has repeatedly pushed the limits of those commitments.
In May, Kennedy announced the Centers for Disease Control and Prevention would no longer recommend COVID-19 vaccines for healthy children and pregnant women — a move immediately questioned by public health experts who saw no new data to justify the change.
In June, Kennedy fired an entire 17-member CDC vaccine advisory committee — later installing several of his own replacements, including multiple vaccine skeptics.
That group has made decisions that have shocked medical professionals, including declining to recommend COVID-19 shots for anyone, adding new restrictions on a combination shot against chickenpox, measles, mumps and rubella and reversing the longstanding recommendation that all babies receive a hepatitis B shot at birth.
Kennedy in November also personally directed the CDC to abandon its position that vaccines do not cause autism, without supplying any new evidence to support the change. While he left the old language on the website to keep a promise he made to Republican Sen. Bill Cassidy, he added a disclaimer saying it remained because of the agreement.
Public health researchers and advocates strongly refute the updated website and note that scientists have thoroughly explored the issue in rigorous research spanning decades, all pointing to the same conclusion that vaccines don’t cause autism.
Kennedy has promised a wide-ranging effort to study environmental factors that potentially contribute to autism and in an Oval Office event with Trump in September promoted unproven and in some cases discredited ties between Tylenol, vaccines and the complex brain disorder.
Kennedy reconfigures HHS with massive staffing and research cuts
Within two months of taking office, Kennedy announced a sweeping restructuring of HHS that would shut down entire agencies, consolidate others into a new one focused on chronic disease and lay off some 10,000 employees on top of 10,000 others who had already taken buyouts.
While parts of the effort are still tied up in court, thousands of the mass layoffs were allowed to stand. Those and voluntary departures significantly thinned out the sprawling $1.7 trillion department, which oversees food and hospital inspections, health insurance for roughly half of the country and vaccine recommendations.
Kennedy also has fired or forced out several leaders at HHS, among them four directors at the National Institutes of Health, the Food and Drug Administration’s former vaccine chief and a director of the CDC whom he had hired less than a month earlier.
On top of staffing cuts, he has overseen significant cuts to scientific research. That includes NIH slashing billions of dollars in research projects and the termination of $500 million in contracts to develop vaccines using mRNA technology.
Amid the cuts, Kennedy has proposed or funded some new research on topics related to his MAHA goals, including autism, Lyme disease and food additives.
MAHA gains momentum, despite some stumbles
Kennedy started using the phrase “MAHA” on the campaign trail last year to describe his crusade against toxic exposures and childhood chronic disease, but 2025 was the year it became ingrained in the national lexicon.
In his tenure so far, the health secretary has made it the centerpiece of his work, using the MAHA branding to wage war on ultra-processed foods, pressure companies to phase out artificial food dyes, criticize fluoride in drinking water and push to ban junk food from the program that subsidizes grocery store runs for low-income Americans.
The idea has even spread beyond Kennedy’s agency across the federal government.
Defense Secretary Pete Hegseth has appeared with Kennedy to promote fitness with pull-up displays. Transportation Secretary Sean Duffy teamed up with Kennedy in early December to announce $1 billion in funding for airports to install resources like playgrounds and nursing pods for mothers and babies. And Environmental Protection Agency administrator Lee Zeldin recently announced he is working toward unveiling a MAHA agenda with health-related goals for his own department.
MAHA has earned widespread popularity among the American public — even as it has endured some administration foibles. In May, for example, HHS faced scrutiny for releasing a MAHA report that contained several citations to studies that didn’t exist.
But to the extent that the initiative has included calls to action that aren’t based on science — such as urging distrust in vaccines or promoting raw milk, which is far more likely than pasteurized milk to lead to illness — critics say it can be dangerous.
https://www.chicagotribune.com/2025/12/30/us-health-policy-rfk-jr/
Citizen Journalist Descends On Ohio, Immediately Finds ‘First Signs Of Potentially Massive Somali Fraud’
Citizen Journalist Descends On Ohio, Immediately Finds ‘First Signs Of Potentially Massive Somali Fraud’
The “Nick Shirley Effect” has begun, with Muckraker founder Anthony Rubin on the ground in Columbus, Ohio, home to the second-largest Somali community in the U.S., investigating daycare centers. This development comes less than a day after Ohio attorney Mehek Cooke said federal investigators are examining allegations that elements within Ohio’s Somali community defrauded millions of dollars from the state’s Medicaid system.
“The first Somali-affiliated daycare facility that we knocked on after landing in Columbus, Ohio, today did not answer,” Rubin wrote on X, alongside a video showing the daycare center, Great Minds Learning Academy.
Rubin continued, “A neighbor across the street told us, ‘I’ve never seen anybody come out of the building or go into the building.'”
FIRST SIGNS OF MASSIVE POTENTIAL SOMALI FRAUD IN COLUMBUS, OHIO
The first Somali-affiliated daycare facility that we knocked after landing in Columbus, Ohio today did not answer.
A neighbor across the street told us, “I’ve never seen nobody come out the building or go in the… pic.twitter.com/zywy9lPDMw
— Muckraker.com (@realmuckraker) December 30, 2025
On Sunday, Breitbart News published an interview with Ohio attorney Mehek Cooke, who alleges that members of the Somali community in Ohio have defrauded millions of dollars from the state’s Medicaid program. She said that authorities at the highest levels are investigating “what is happening in Ohio.”
.@MehekCooke: Taxpayer-funded medical fraud is also widespread in Ohio.
“We really need to investigate the Medicaid system and how much it’s increased since the Somalian population came.” pic.twitter.com/8pJCzjK4qo
— Breitbart News (@BreitbartNews) December 28, 2025
Rubin’s on-the-ground reporting comes as tech bros have pitched a grant funding program to “unlock tens of investigative journalists” to cover widespread fraud in Democratic-run states. The idea follows Shirley’s investigation into Somali-linked daycare fraud in Minneapolis, which shocked the nation over the weekend with an investigative video that has garnered 125 million views.
I trust @Cernovich instincts here. If he thinks a grant program can unlock tens of investigative journalists to uncover the breadth and scale of California’s fraud, many people will support it.
Cerno? https://t.co/yoWfLMV8Lb
— Chamath Palihapitiya (@chamath) December 28, 2025
We assess that public sentiment toward DOGE could reverse after the Democratic Party’s propaganda machine vilified the effort this year, even as evidence of fraud, waste, and abuse was plainly visible. As on-the-ground reporting expands in corrupt blue states, the scale of the alleged fraud is likely to broaden, increasing the likelihood of a renewed push of DOGE.
Tyler Durden
Tue, 12/30/2025 – 08:45
