Morning Report: Is the speculation about a US rate cut reignited? Focus on tonight's employment statistics as cautious statements about rate cuts from FOMC members continue.

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The United Nations raised its global growth outlook and sounded the alarm on inflation resurgence due to tariffs.
On the 9th, the United Nations, in its quarterly report on the world economy outlook, forecast a growth rate of 2.8% compared to the previous year for 2025, up from the previous 2.7%. It indicated that investments are expected to increase as central banks around the world continue to cut interest rates. However, it warned that if trade barriers rise hindering inflation, and major central banks refrain from cutting rates, there is a potential for economic growth to weaken. The growth rate for 2026 is expected to be 2.9%.

Preview: December US employment statistics are scheduled to be announced on the evening of the 10th. Is speculation about a rate cut reigniting?
The U.S. non-farm payroll employment numbers for December will be announced on the night of the 10th (Friday) at 10:30 PM Japan time. The market expects an increase of 0.154 million people in the U.S. non-farm payroll employment for December compared to the previous month, with a steady unemployment rate of 4.2%.

Multiple FOMC members caution against rate cuts.
Concerning the monetary policy by the Federal Reserve Board (FRB), cautious remarks about future interest rate cuts have been made by FOMC members.
[Key Person's Statement] FRB Governor Bowman: 'Inflation remains elevated, and there are risks of an upside surprise.'
[Key Person's Statement] President of the Federal Reserve Bank of Kansas City: 'Further interest rate cuts should be done in a gradual and data-driven manner.'
[Key Person's Statement] President of the Federal Reserve Bank of Boston: 'An incremental and patient approach is required for interest rate cuts.'
[Key Person's Statement] President of the Federal Reserve Bank of Philadelphia emphasizes uncertainty despite maintaining expectations of an interest rate cut.

Mr. Mask's AI company, xAI, announces the launch of the standalone 'Grok' app.
Entrepreneur Elon Musk's artificial intelligence (AI) startup company, xAI, has unveiled its first standalone consumer app called 'Grok'. Previously, users could only access xAI's flagship conversational AI product, Grok, through Mr. Mask's social media 'X' (formerly Twitter). However, users can now use the new Grok app for free starting from the 9th.

米通商代表部（USTR）は、中国の字節跳動（バイトダンス）が運営する電子商取引（EC）プラットフォームを「悪質な市場」リストに追加した。模倣品や海賊版の流通に関与または助長している可能性があるとして、70以上のオンラインおよび実店舗市場を指定している。2021年以降、リストに掲載されていたインターネットサービス大手テンセントのメッセージアプリ「微信（ウィーチャット）」は含まれておらず、除外されたことを示唆している。

ジェフリーズのアナリストらは調査メモで、 $ASML Holding (ASML.US)$の受注高が第1四半期から直近の数カ月と比べて増加すると予想している。これはサムスン電子や $Taiwan Semiconductor (TSM.US)$（TSMC）などの大口顧客によるものだ。アナリストらは、TSMCからの受注増加や、サムスンがまもなく $NVIDIA (NVDA.US)$に高帯域幅メモリーチップを供給できるようになる見通しがASMLにとって追い風になる可能性があると指摘した。

【市場の声】シェル株、自社株買い実績と事業再編にもかかわらず割安な水準にとどまる
UBSのアナリストらは、 $Shell (SHEL.US)$Despite having the industry's best share buyback track record and a solid balance sheet, it is pointed out that they are undervalued by investors. UBS has raised its investment rating on Shell shares from 'Neutral' to 'Buy' and raised the target price to 30 pounds. Shell shares are trading at 26.16 pounds, up 1.4%.

Bitcoin, weak, fell to the $0.09 million2090 range against the dollar.
Bitcoin, a representative cryptocurrency, is weak. It temporarily fell to the $0.09 million2090 range against the dollar, and there were moments when it was sold for around 14.54 million yen against the yen.