Overnight stock market

Most of the world's major indices rose on Friday. The three major US stock indices collectively closed higher, and the Dow rose nearly 1% to a record high.

Bitcoin continues to be tight at the 0.1 million dollar mark, rising to 99,589 US dollars during the day, setting a new record high.

Commodity market

The settlement price of international crude oil futures closed up more than 1%. WTI crude oil futures for January closed up $1.14, or 1.62%, to $71.24 per barrel, up 6.45% this week. Brent crude oil futures for January closed up $0.94, or 1.26%, to $75.17 per barrel, rising 5.81% this week.

Market news

[Putin: Russia has reserves of “Hazel” missiles and mass production is necessary]

Russian President Vladimir Putin held a meeting with leaders of the Russian Ministry of Defense and representatives of Russian military enterprises on the 22nd local time. Putin congratulated Ministry of Defense leaders and R&D personnel on the successful test launch of the “Hazel” missile.

Putin said that Russia will continue testing the “Hazel” missile, including under combat conditions. Russia has reserves of “Hazel” missiles. The speed of development of the “Hazel” missile is proud and admirable, and it shows the potential of the Russian missile industry. It is not a modernized version of the old Soviet missile system; it was created by modern Russia based on the latest research and development results. The “Hazel” missile system is another guarantee of Russia's territorial integrity and sovereignty; there are no similar missile systems abroad. The “Hazel” missile system is not a strategic weapon or a weapon of mass destruction, but its effectiveness is comparable to that of strategic weapons.

Putin emphasized the need for mass production of “Hazel” missiles. The “Hazel” missiles will be loaded into the Russian strategic missile forces.

[US President-elect Trump approved to rescind his “sealing fee” criminal case]

On November 22, local time, a judge in New York in the United States approved President-elect Trump's request to withdraw his “sealing fee” criminal case, set December 2 as the deadline for Trump to submit the withdrawal motion, and requested the prosecutor to respond by December 9.

[Russian military official: “Hazel” missile system can hit targets throughout Europe]

Russian President Vladimir Putin held a meeting with leaders of the Russian Ministry of Defense and representatives of Russian military enterprises on the 22nd local time. Russian strategic rocket commander Karakayev said at the meeting that the decision to develop the “Hazel” missile system was made in July 2023. The effect of large-scale use of Hazel missiles would be equivalent to the use of nuclear weapons. The “Hazel” missile system can hit targets all over Europe.

[Ukrainian Officials Say Russia Has Only Two Test Samples of the Hazel Missile System]

Speaking at a public event on the 22nd local time, the head of the General Intelligence Service of the Ministry of Defense of Ukraine, Budanov said that as of October this year, Russia should have produced only two experimental samples of the “Hazel” missile system.

Budanov stressed that the “Hazel” missiles are experimental; maybe Russia will manufacture more, but they are only research samples and have not entered the mass production stage.

[UN Climate Conference enters overtime]

The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), which was originally scheduled to close on the 22nd, has entered the overtime phase. The text of the proposal was updated by the President of the General Assembly on the afternoon of the 22nd. There are still huge differences on core issues such as the new Climate Finance Collective Quantification Target (NCQG). At this conference, NCQG is the climate finance topic that all parties are most concerned about. In order to support the transformation of developing countries to a climate-adaptive future, all parties hope to set global climate finance targets after 2025 on the basis of “developed countries donate 100 billion US dollars a year to developing countries” in 2009, and reach consensus on arrangements related to financial mechanisms. Therefore, this conference is also known as the “Climate Finance Conference.”

[Federal Reserve announces details of upcoming framework review]

The Federal Reserve announced details of the upcoming framework review, including a meeting scheduled for May 15-16, 2025. The Federal Reserve said that the framework review will not include a 2% inflation target and will focus on strategic statements and communication tools. The review will include a nationwide “Federal Reserve Listen” event, and debates among policymakers will begin at the January meeting.

[Federal Reserve: Stablecoin assets have increased significantly since the April report]

According to the Federal Reserve, stablecoin assets have grown significantly since the April report. The sustainability of US debt poses a top financial stability risk. Hedge fund leverage reached the highest level since 2013, or near that level.

[Data shows sharp deterioration in Eurozone business activity in November]

According to data released by Standard & Poor's Global, the Eurozone Purchasing Managers' Index fell to a 10-month low of 48.1 in November, below the 50 mark. The data also showed that due to the contraction of the Eurozone's dominant service sector, the manufacturing industry fell into a more severe recession, and business activity in the Eurozone deteriorated sharply in November. Experts said that this sounded a wake-up call for Eurozone policymakers, indicating that the Eurozone economy continues to show signs of weakness.

[WHO: The monkeypox outbreak continues to constitute a “public health emergency of international concern”]

The WHO convened an International Health Regulations Emergency Committee to declare that the monkeypox outbreak continues to constitute a “public health emergency of international concern”. The decision is based on the increasing number of cases and the continued spread of the outbreak.

[Vice Chairman of the Russian Federation Security Council: If the conflict continues to escalate, no possibility is ruled out]

Vice Chairman Medvedev of the Russian Federation Security Council said in an interview with the media that if the conflict continues to escalate, no possibility is ruled out. Medvedev said that since NATO member states are in fact fully involved in the conflict, they must understand that they are fighting on Ukraine's side. They not only supply weapons to Ukraine, but also fight directly, since it is they who target targets on Russian territory and control the activity of American or European missiles. They are at war with Russia. If that is the case, no possibility can be ruled out.

[Anthropic receives another 4 billion dollar investment from Amazon]

On November 22, OpenAI competitor Anthropic announced the expansion of its partnership with Amazon Web Services (AWS), including $4 billion in new funding from Amazon. This would bring Amazon's total investment in the company to $8 billion while remaining a minority shareholder.

[Bosch will lay off 5,500 employees globally, saying competition and price pressure will continue to increase]

The German Metal Industry Union (IG Metall) issued a statement on November 22 stating that auto parts supplier Bosch will cut jobs related to autonomous driving and car steering products in Germany.

A Bosch spokesperson confirmed that the company will lay off 5,500 employees worldwide, including 3,800 jobs in Germany. “The automotive industry is facing serious overcapacity, and competition and price pressures continue to increase,” the spokesperson said.

[Citi approved to establish regional headquarters in Riyadh, Saudi Arabia]

According to the company memorandum, Citi has received approval from the Saudi Ministry of Investment to establish a regional headquarters in Riyadh. According to new Saudi regulations that came into effect this year, the company must establish a regional headquarters in Saudi Arabia and have at least 15 employees, including executives responsible for other countries' affairs, otherwise it may lose business dealings with the Saudi government entity network. A senior adviser to the Saudi Ministry of Investment revealed last month that since Saudi Arabia launched the program, more than 500 companies have set up regional headquarters in Riyadh.