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☆ Ruling party leader says South Korea president must be suspended as soon as possible
▼ + stars: | 2024-12-06 | by ( ) www.cnbc.com time to read: +1 min

Protesters hold placards during a candlelight vigil to condemn South Korean President Yoon Suk Yeol's surprise declarations of the failed martial law and to call for his resignation in Seoul, South Korea, December 5, 2024. South Korea's ruling party leader said on Friday President Yoon Suk Yeol needs to be removed from authority for the safety of the country for trying to impose martial law, but stopped short of urging members to vote for impeachment. Yoon shocked the nation and his own ruling People Power Party on Tuesday when he announced he was imposing martial law in order to root out "anti-state forces" and overcome obstructionist political opponents. He reversed course about six hours later after parliament, including some members of his party, voted to oppose the decree. Speaking after a party meeting at the parliament on Friday, party leader Han Dong-hoon said Yoon had ordered the arrest of prominent politicians over grounds that they were among those "anti-state forces" during the martial law.

Persons: Yoon Suk, Yoon, Han Dong Organizations: South, Power Party Locations: South Korean, Seoul, South Korea, South

☆ CNBC Daily Open: U.S. exceptionalism seems difficult to dislodge for now
▼ + stars: | 2024-12-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

In this article .HSI.NSEI.SPX.DJI.IXICBTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTThe New York Stock Exchange on November 21, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "It is hard to see an end to US exceptionalism any time soon, which we think remains the playbook into 2025." November's jobs report, out later today, will give investors more insight into whether U.S. economic and financial growth can continue racing forward.

Persons: IXIC, Michael M, Scott Wren, MAGA, —, Jesse Pound, Lisa Kailai Han, Sean Conlon Organizations: New York Stock Exchange, Santiago, Getty, CNBC, Deutsche Bank, Barclays, Atlanta Federal Reserve Locations: New York City, U.S, Wells Fargo, Europe, France

Choi Byung-hyuk, a retired four-star army general who is currently the South Korean ambassador to Saudi Arabia, was named as Kim’s successor. Kim Yong-hyun, who has resigned as South Korean defense minister, in Washington in October. He did not directly address whether the emergency martial law was his idea, as opposition lawmakers and South Korean media have alleged. Choi Byung-hyuk, a retired army general who is the South Korean ambassador to Saudi Arabia, has been named as Kim’s successor. Though PPP leaders repudiated Yoon’s martial law declaration and have asked him to leave the party, they said the party opposed the impeachment motion.

Persons: Yoon Suk, Yoon, Kim Yong, Choi Byung, ” Chung Jin, Saul Loeb, Kim, ”, Yoon’s, Jung Yeon, Han Duck, Kurt Campbell, “, Antony Blinken, Biden, Stella Kim, Jennifer Jett Organizations: South, Wednesday, AFP, Getty, Emergency Martial Law, National Office of Investigation, National Assembly, Protesters, Democratic Party, Yoon’s People Power Party, Police, U.S, Aspen Strategy, Reuters Locations: SEOUL, South Korea, South Korean, Saudi Arabia, Washington, Seoul, Korean, U.S, Hong Kong

☆ Stocks making the biggest moves midday: American Eagle Outfitters, American Airlines, Verint Systems and more
▼ + stars: | 2024-12-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

American Eagle Outfitters – The stock fell 14% after the apparel retailer missed revenue expectations for the third quarter and provided weak holiday guidance. Five Below reported adjusted earnings per share of 42 cents on revenue of $844 million. The discount retailer lowered the top end of its full-year earnings guidance, and now forecasts a range of $5.50 to $5.90 per share. Signet now sees adjusted earnings coming in at $9.62 to $10.08 per share, compared to earlier guidance of $9.90 to $11.52 per share. Verint Systems – The stock surged almost 25% after the company posted better-than-expected adjusted earnings and revenue for the third quarter.

Persons: SentinelOne, AeroVironment, FactSet, Synopsys, LSEG, Verint, — CNBC's Brian Evans, Lisa Kailai Han, Sarah Min Organizations: American Eagle Outfitters, American Airlines, Barclays, Citi, Wall, FactSet, AeroVironment, ChargePoint Holdings, Signet, Systems, Southwest Airlines

☆ South Korea’s ruling party leader appears to support President Yoon’s impeachment in dramatic reversal
▼ + stars: | 2024-12-05 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +3 min

Seoul, South Korea CNN —The head of South Korea’s ruling party said Friday it is necessary to suspend the president’s constitutional powers and suggested the party would change its earlier opposition to President Yoon Suk Yeol’s impeachment over his declaration of martial law. “Yesterday, I stated that I would work to prevent the passage of this impeachment motion to avoid unprepared chaos and harm to the people and our supporters. “If President Yoon continues to hold the presidency, there is a significant risk that extreme actions like this martial law declaration could be repeated, putting South Korea and its citizens in grave danger,” Han added. Under the South Korean constitution, an impeachment motion must be approved by two thirds of the 300-person legislature to pass onto consideration in one of the country’s highest courts, the Constitutional Court. The Democratic Party, minor opposition parties and independents have a combined 192 seats, meaning they would need the support of at least eight members of Yoon’s People Power Party to pass the motion.

Persons: Yoon Suk, Han Dong, hoon, Yoon, ”, ” Han, Han, “ Organizations: South Korea CNN, People Power Party, South, CNN, Constitutional, Democratic Party, Yoon’s People Power Party Locations: Seoul, South Korea, Korea

Seoul, South Korea CNN —The leader of South Korea’s main opposition party thought the president’s late night martial law announcement was a deepfake when he first saw it, he told CNN on Thursday as his party now seeks to impeach the country’s leader. There’s no way that’s real,’” he said, referring to the term for fake audio and video created with artificial intelligence. Multiple members of Yoon’s party joined their political opponents in blocking the martial law decree during the remarkable late-night scenes inside parliament. “We are concerned and afraid that President Yoon might make another declaration of martial law at any time … since the last martial law failed,” she told CNN on Thursday. In November, he was indicted for personal misuse of public funds, and separately convicted and sentenced for violating election law.

Persons: Yoon Suk Yeol, ‘, ’ ” Lee Jae, myung, “, ”, –, Yoon, Lee, Han Dong, hoon, Yoon’s, haven’t, Kang Sun, we’re Organizations: South Korea CNN, CNN, –, Democratic Party, Power Party, National Assembly, Reuters Locations: Seoul, South Korea, Korea

☆ Yoon Suk Yeol: The ‘American Pie’-singing conservative who tried to suspend democracy – and failed
▼ + stars: | 2024-12-05 | by ( Helen Regan | ) edition.cnn.com time to read: +12 min

Seoul, South Korea CNN —Declaring martial law in a stable and boisterous democracy was an audacious gamble – and one that appears to have backfired spectacularly for South Korean president Yoon Suk Yeol. But the president’s short-lived declaration of martial law still felt like an attack to the heart of the country’s democracy. Helicopters fly after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, on December 4, 2024. Soldiers try to enter the National Assembly building in Seoul on December 4 2024, after South Korea President Yoon Suk Yeol declared martial law. Many believe the botched martial law and subsequent democratic proceedings show that South Korean democracy is alive and well.

Persons: South Korea CNN —, Yoon Suk, Yoon’s, ”, Yoon Suk Yeol, Kim Hong, Kyung, ” –, Yoon, Joe Biden, ’, Don McLean, Jung Yeon, “, Antony Blinken, Park, Chip Somodevilla, Jae, Kang, Sung, Sydney Seiler, Lady Kim Keon Hee, Dior, Kim, Kim Keon Hee, “ Yoon, Ahn Byung, Donald Trump, Michel Barnier, Kwak Dong, Kwak, Kim Hyeon, Lee Jae, myung, Han Dong, Han, Hanna, Eunseo Jeong, Jessie Yeung, Rebecca Wright, Ivan Watson, Gawon Bae, Yoonjung Seo, Antoinette Radford Organizations: South Korea CNN, South, National Assembly, CNN, Helicopters, Reuters, United, House, Getty, South Korea, People Power Party, White, Seoul, Democratic Party, Min Consulting, Center for Strategic, International Studies, “, Korea Armed Forces, Kyung Hee University, Parliamentary Locations: Seoul, South Korea, South, Korea, Washington ,, North Korea, North, “, Seongnam, France, Korean

The martial law order, South Korea’s first since 1980, was reversed so quickly that many South Koreans weren’t aware of it until they woke up on Wednesday. People her age who had experienced martial law under the military dictatorship rushed to convenience stores to buy canned food, she said. Biden, who hosted Yoon for a state visit to Washington last year, has worked to enhance military and other ties with South Korea as a deterrent against China and North Korea, establishing a new trilateral security partnership with South Korea and its historic rival Japan. Earlier this year, South Korea became the first country outside the U.S. to host Biden’s annual Summit for Democracy. As South Korea grapples with political instability, the U.S. “should remain a steadfast ally,” Easley said.

Persons: “ Aren’t, Jeong, Yoon Suk, Kim Hong, Yoon, Emily Jo, ”, Jo, Yoo Yong, Yoo, Han Dong, ” Han, Lee Jae, myung, Jung Yeon, Ulf Kristersson, Lloyd Austin, Biden, Pat Ryder, Philip Fong, Leif, Eric Easley, Easley, ” Easley, Stella Kim, Cho Beomsoo, Jennifer Jett Organizations: Lawmakers, ‘, People Power Party, NBC, National Assembly, Getty, Democratic Party, Gallup, Korea Times, Swedish, Defense, South, for Democracy, South Korea, Pentagon, Embassy, Ewha Womans University Locations: “, Seoul, AFP, Gallup Korea, North Korea, Korean, Washington, South Korea, China, Japan, U.S, Korea, Hong Kong

Antony Blinken, the U.S. secretary of state, welcomed Yoon’s order to rescind emergency martial law. Pentagon spokesperson Maj. Gen. Pat Ryder said the martial law order had “essentially no impact” on U.S. forces. The Ministry of National Defense also deployed between 200 and 300 armed troops to the National Assembly grounds via helicopter, Kim Min-gi, secretary-general of the National Assembly, said Wednesday. Throngs of protesters also arrived at the building in opposition to the martial law declaration. The martial law order was lifted around 4:30 a.m. Wednesday local time (2:30 p.m. Tuesday ET).

Persons: Yoon Suk, Yoon, Kim Yong, Lee Sang, Cho Seung, rae, Park Ahn, Yoon Hee, Cho, Han Dong, “, ”, Luis Robayo, Han Duck, Antony Blinken, ” Blinken, ” Yoon, Pat Ryder, Kim Min, Throngs, Woo Won, sik, ” Woo, Kim, ” Stella Kim, Jennifer Jett Organizations: South Korea —, Democratic Party, Defense, ’, National Police, Yoon’s People Power Party, Group, Getty, South, Wednesday, CNBC, Democratic, North, National Assembly, Martial Law Command, Pentagon, Ministry of National Defense, Power Party, Assembly, Korea’s, Chiefs, Staff, of National Defense Locations: SEOUL, South Korea, Rio de Janeiro, Brazil, AFP, U.S, Seoul, North Korea, Hong Kong

☆ Who Would Replace South Korea’s President Yoon?
▼ + stars: | 2024-12-04 | by ( Qasim Nauman | ) www.nytimes.com time to read: 1 min

South Korea’s opposition, which controls the National Assembly, has threatened to impeach President Yoon Suk Yeol if he does not resign after his ill-fated decision to impose martial law. If Mr. Yoon quits or is removed from office then, under the constitution, Prime Minister Han Duck-soo will step in to perform presidential duties. Mr. Yoon, a conservative, came into office after winning the 2022 presidential election by a threadbare margin, and appointed Mr. Han as the prime minister that year. Mr. Han began his career as a civil servant in the early 1970s, working on trade and industrial policy for decades. From 2009 to 2012, Mr. Han was South Korea’s ambassador to the United States.

Persons: Yoon Suk, Yoon, Han Duck, Han, Han’s, Roh Moo Organizations: National Assembly, Harvard Locations: South, United States

In a surprise, nationally televised address, he declared martial law, the first such decree in the country in decades. Inside, lawmakers who included members of Mr. Yoon’s own People Power Party voted unanimously to strike down his martial law. Image Soldiers trying to enter the main hall of the National Assembly on Tuesday after the declaration of martial law. On Wednesday, all senior aides to Mr. Yoon tendered their resignations to Mr. Yoon, leaving him more isolated than ever. As president, Mr. Yoon appointed Mr. Han as justice minister and later helped make him the head of his governing party.

Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Yoon’s, , Chun Doo, Chang W, Lee, ”, Sung Deuk, Mr, Kang Won, Hahm, “, Kim Byung, Shin Hyun, Kim Yong, Moon Jae, ” , Kim Keon Hee, Han Dong, Han, Ahn, “ sycophantic, Yonhap Mr Organizations: National Assembly, Power Party, Agence France, United, South, Chosun Ilbo, ., New York Times, Kyonggi University, Seoul National University, Democratic Party, MBC Radio, Paratroopers, National, Mr, Student, Korean Central Intelligence, Associated Press, North, Kyung Hee University, People Power Party Locations: South Korea, , United States, Asia, Seoul, Korean, North Korea, Gwangju, Japan, Goyang

☆ 'We really like the U.S.,' Julius Baer portfolio manager says. Here's where she sees opportunity
▼ + stars: | 2024-12-04 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

At a time when investors are mixed on the U.S. market, one portfolio manager remains optimistic and sees reasons to stay invested. "We really like the U.S.," Aneka Beneby, portfolio manager at Julius Baer International, told CNBC Pro last month. Looking ahead to 2025, Beneby expects the U.S. to log higher growth of around 2.5%, up from 2% previously. She is especially bullish on large cap quality growth companies which "have been able to withstand higher interest rates." Beyond these companies, Beneby is still looking favorably at large-cap tech stocks globally and sees potential, especially in companies in cloud computing and artificial intelligence.

Persons: Julius Baer, that's, Kunal Kapoor, Beneby, Donald Trump's, —, Lisa Kailai Han, Alex Harring Organizations: Julius, Julius Baer International, CNBC Pro, Nasdaq, Apple, Microsoft, Nvidia, Tesla Locations: U.S

☆ How South Korea's Impeachment of President Yoon Could Happen
▼ + stars: | 2024-12-04 | by ( Pablo Robles | ) www.nytimes.com time to read: +9 min

Members of South Korea’s opposition submitted a motion on Wednesday to impeach Mr. Yoon. Moon Hyungbae Appointed by Moon Jae-in Lee Mison Appointed by Moon Jae-in Kim Hyungdu Appointed by Mr. Yoon Kim Bok-hyeong Appointed by Mr. Yoon Jung Jungmi Appointed by Mr. Yoon Cheong Hyungsik Appointed by Mr. Yoon Vacant Vacant Vacant The constitutional Court has three vacancies. Moon Hyungbae Appointed by Moon Jae-in Lee Mison Appointed by Moon Jae-in Kim Hyungdu Appointed by Mr. Yoon Kim Bok-hyeong Appointed by Mr. Yoon Jung Jungmi Appointed by Mr. Yoon Cheong Hyungsik Appointed by Mr. Yoon Vacant Vacant Vacant The constitutional Court has three vacancies. Moon Hyungbae Appointed by Moon Jae-in Lee Mison Appointed by Moon Jae-in Kim Hyungdu Appointed by Mr. Yoon Kim Bok-hyeong Appointed by Mr. Yoon Jung Jungmi Appointed by Mr. Yoon Cheong Hyungsik Appointed by Mr. Yoon Vacant Vacant Vacant The constitutional Court has three vacancies. Moon Hyungbae Appointed by Moon Jae-in Lee Mison Appointed by Moon Jae-in Kim Hyungdu Appointed by Mr. Yoon Kim Bok-hyeong Appointed by Mr. Yoon Jung Jungmi Appointed by Mr. Yoon Cheong Hyungsik Appointed by Mr. Yoon Vacant Vacant Vacant The constitutional Court has three vacancies.

Persons: Yoon Suk, Mr, Yoon, Yoo, Han Duck, Moon Hyungbae, Moon Jae, Lee Mison, Kim Hyungdu, Yoon Kim Bok, hyeong, Yoon Jung Jungmi, Yoon Cheong, Roh Moo, hyun Organizations: Power Party, Constitutional, National Assembly, SIX Locations: South Korea

☆ Inside the chaos in Seoul after South Korea's president sprang 6 hours of martial law on his people
▼ + stars: | 2024-12-04 | by ( Matthew Loh | ) www.businessinsider.com time to read: +13 min

South Korea's president, Yoon Suk-yeol, shocked the nation on Tuesday evening by declaring martial law. AdvertisementThe last time martial law was declared in South Korea was in 1980, when a military dictatorship took over. 12 a.m. — Martial law forces reach the complexAs the National Assembly started to meet its quorum requirement, the first of the martial law forces arrived outside. Related stories12:48 a.m. — Lawmakers vote to lift martial lawLed by Woo, the National Assembly officially began the vote on reversing martial law. 4:40 a.m. — Martial law is lifted and troops withdrawYoon's martial law was officially rescinded by an emergency Cabinet meeting, and dispatched forces returned to their bases.

Persons: Yoon Suk, yeol, Yoon, — Yoon, Kim Hongmin, Kim, Han Dong, Han, Chris Jung, Yonhap, Lee Jae, Myung, mobilizes, Lee, Kim Hong, Woo Won, Woo, Park Jie, Park, Chung Sung, —, Lee Tae, Daniel Ceng, Ellen Kim, Yun, Donald Trump, Yoon's Organizations: Assembly, North Korean, Democratic Party, People Power Party, Getty, National Assembly, Lawmakers, Protesters, Police, —, South Korean, — Troops, Democratic Party's, REUTERS, Korean, Soldiers, South, Park, National, Center for Strategic, International Studies, CSIS Locations: Seoul, Republic of Korea, Korean, Hongdae, South Korea, Yeouido, South, Gwangju, South Korea's, —, Anadolu, Korea, YONHAP, Ukraine, Gwanghwamun

☆ Stocks making the biggest moves after hours: American Eagle Outfitters, Five Below, Synopsys and more
▼ + stars: | 2024-12-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

American Eagle Outfitters – Shares plunged 12% after the retailer reported weaker-than-expected revenue for the third quarter. For the period, American Eagle posted $1.29 billion in revenue, below the consensus estimate of $1.30 billion, according to LSEG. Five Below – The discount retailer advanced about 11% after posting third-quarter revenue of $844 million, well above the $799 million analysts polled by LSEG had expected. SentinelOne – The cybersecurity stock slid more than 11% after the company's third-quarter earnings came in weaker than expected. The company posted $211 million in revenue for the period, above the $210 million analysts were looking for.

Persons: LSEG, Verint, AeroVironment, Sprinklr, FactSet, Darla Mercado, Lisa Kailai Han, Robert Hum Organizations: American Eagle Outfitters, Eagle

☆ CNBC Daily Open: U.S. stocks began December chilly, but will probably warm up soon
▼ + stars: | 2024-12-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Erik Mcgregor | Lightrocket | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineDecember may have triggered the thawing of Mariah Carey, but stocks are beginning the month chilly. Moreover, in presidential election years, December typically moves up one notch to become the second-best month for stocks. If the Fed does cut rates, that incision will probably scrape off any lingering frostbite on the stock market as well, in time for them to hear sleigh bells ringing.

Persons: STOXX, Erik Mcgregor, Mariah Carey, Bob Pisani, George Smith, Ken Mahoney, Sarah Min, Hakyung Kim, Sean Conlon, Lisa Kailai Han, Alex Harring Organizations: Lightrocket, CNBC, Dow Jones, Nasdaq, Apple, LPL, Asset Management, U.S . Federal Locations: York City, U.S .

☆ Stocks making the biggest moves premarket: Salesforce, Foot Locker, Pure Storage, PSQ Holdings & more
▼ + stars: | 2024-12-04 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell: Salesforce — Shares rallied more than 12% after the enterprise software company posted a third-quarter revenue beat. Salesforce reported $9.44 billion in revenue, better than the $9.35 billion expected by analysts, according to LSEG. Pure Storage — Shares surged 21% after Pure Storage beat fiscal third-quarter estimates and highlighted it won a contract with a major tech company. Foot Locker — The stock sank nearly 15% after the sneaker giant posted an earnings and revenue miss. Chewy's $2.88 billion revenue came in line with estimates.

Persons: Salesforce, Jeff Davis, Charles Giancarlo, CNBC's, Piper Sandler, Locker, —, Okta, Donald Trump Jr, LSEG, Campbell, Mick Beekhuizen, Roku, Needham, Laura Martin, — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Yun Li, Pia Singh Organizations: Marvell Technology, Marvell, Wall, JPMorgan, PSQ Holdings, General Motors, Detroit automaker, SAIC Motor Corp Locations: China

☆ CNBC Daily Open: U.S. stocks start December chilly; Korea stocks tumble on political chaos
▼ + stars: | 2024-12-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

In this article .AXJO.SPX.DJI.IXICAAPL Follow your favorite stocks CREATE FREE ACCOUNTThe Fearless Girl statue outside the New York Stock Exchange on December 18, 2020 in New York City. Noam Galai | Getty Images Entertainment | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineDecember may have triggered the thawing of Mariah Carey, but stocks are beginning the month chilly. Moreover, in presidential election years, December typically moves up one notch to become the second-best month for stocks.

Persons: Noam Galai, Mariah Carey, Bob Pisani, George Smith, Ken Mahoney, Sarah Min, Hakyung Kim, Sean Conlon, Lisa Kailai Han, Alex Harring Organizations: New York Stock Exchange, Getty, CNBC, Dow Jones, Nasdaq, Apple, LPL, Asset Management, U.S . Federal Locations: New York City, U.S .

☆ Taiwan’s president visits Marshall Islands on Pacific tour of diplomatic allies
▼ + stars: | 2024-12-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

Arriving in the Marshall Islands capital of Majuro, Lai referred to Taiwan’s indigenous inhabitants as sharing a culture with the Pacific Islands’ first settlers. “Taiwan and the Marshall Islands share a traditional Austronesia culture as well as the values of freedom and democracy,” he said in livestreamed remarks as he met President Hilda Heine. Later addressing Parliament, Lai offered financial support for the national airline to upgrade its aging fleet. “Taiwan will be happy to provide preferential loans to the Marshall Islands to purchase new aircraft for Air Marshall Islands to improve local air services,” he said. From the Marshall Islands he goes to Tuvalu for a brief trip, then a one-night stopover in the U.S. territory of Guam before going to Palau.

Persons: Lai Ching, Lai, ”, livestreamed, Hilda Heine, “, Han, Heine Organizations: Taiwan, Marshall, airline, Air Marshall Locations: Taiwan, Marshall, China, Majuro, “ Taiwan, United States, Hawaii, Tuvalu, U.S, Guam, Palau, Taipei

☆ Asia-Pacific markets set to open higher, tracking Wall Street gains after key benchmarks hit new records
▼ + stars: | 2024-12-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets are set to open higher on Tuesday, tracking gains on Wall Street after the S&P 500 and the Nasdaq Composite rose to new records. Hong Kong's Hang Seng index futures were at 19,628, higher than the HSI's last close of 19,550.29. Overnight in the U.S., the S&P 500 added 0.24% to close at 6,047.15. The blue-chip index briefly topped the 45,000 level during the day, a key threshold it hit a few times last week. Fed funds futures are currently pricing in a 76% probability that the central bank lowers interest rates during its policy gathering, according to CME's FedWatch Tool.

Persons: Ed JONES, ED JONES, CME's, —, Alex Harring, Lisa Kailai Han Organizations: Getty, Nikkei, Nasdaq, Traders, Federal Reserve, Reuters, Dow Jones Industrial Locations: Seoul, AFP, Chicago, Osaka, Asia, Pacific, U.S

☆ Why did South Korea's president declare martial law?
▼ + stars: | 2024-12-03 | by ( Ellie Zolfagharifard | Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

South Korea's president, Yoon Suk Yeol, on Tuesday invoked martial law, a stunning move that threw the nation into turmoil. The last time that a South Korean leader declared martial law was in 1979 following the assassination of the president. South Korea's parliament voted unanimously to block the president's decree, declaring the shocking move invalid, but martial law remains in effect. The semi-official South Korean news agency also said that media and publishers fall under the control of the South Korean military. Hours after Yoon declared martial law, live TV showed South Korea's parliament passing a motion requiring the law to be lifted.

Persons: Yoon Suk Yeol, Yoon, Yoon Suk, Kim Jong, Yoon didn't, South Korea Philip Goldberg, Yoon's, Biden, Han Dong, Lee Jae, Yonhap Organizations: South, People Power Party, Democratic Party of Korea, National Assembly, Associated Press, South Korean, State Department, Power Party, Korean, US National Security, KB Financial Group, POSCO Holdings, Wall Street Locations: Korean, South Korea, Korea's, North Korea, Korea, South

☆ CNBC Daily Open: Investors are filled with the festive spirit
▼ + stars: | 2024-12-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Wall Street bank just refreshed its list of global stocks, including three it gave potential upside of more than 40% . $56 billion package for Musk denied Tesla CEO Elon Musk failed to get his $56 billion 2018 pay package reinstated. "The holiday season is in full swing and spirits seem bright, at least among investors," UBS wrote in a Monday note.

Persons: Goldman Sachs, Elon Musk, Pat Gelsinger, David Zinsner, MJ Holthaus, Gelsinger, Jay Hatfield, —, Hatfield, Oppenheimer, John Stoltzfus, Savita Subramanian, Lisa Kailai Han, Alex Harring, Pia Singh Organizations: CNBC, Intel, Investors, Nasdaq, Dow Jones, UBS, Conference Board, downer, Investment, Bank of America Locations: Delaware

☆ 10-year Treasury yield edges higher as investors await economic data, Fed speeches
▼ + stars: | 2024-12-03 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The 10-year Treasury yield rose 2 basis points to 4.215% at 4:50 a.m. ET while the yield on the 2-year Treasury dipped 1 basis point to trade at 4.186%. The benchmark U.S. 10-year Treasury yield edged higher on Tuesday as investors await data that will offer insights about the strength of the U.S. economy. On the data front, market participants will monitor the Labor Department's Job Openings and Labor Turnover Survey for October on Tuesday morning. ET, will provide estimates for the number of job openings, hires, layoffs and quits.

Persons: Adriana Kugler, Austan Goolsbee, Dow Jones, That's, Lisa Kailai Han, Sawdah Bhaimiya Organizations: Treasury, Labor, Survey, Investors, Chicago Fed Locations: U.S

☆ South Korean parliament votes to lift president's martial law declaration
▼ + stars: | 2024-12-03 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Members of the military make their way through the crowd in front of the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. The South Korean National Assembly voted to overturn President Yoon Suk Yeol's martial law decree Wednesday morning in Seoul. Under the martial law declaration, all political activities and acts that "incite social disorder" are prohibited. However, Yoon's martial law decree came as a shock even to members of his People Power Party. The party's leader, Han Dong-hoon, and Seoul Mayor Oh Se-hoon both voiced their opposition to Yoon's martial law declaration on Tuesday night.

Persons: Yoon Suk Yeol, Yoon Suk, Yoon, Han Dong Organizations: National Assembly, South, South Korean National Assembly, National, Military, People Power Party, Seoul, Democratic Party Locations: Seoul, South Korea, Republic of Korea, Korean

☆ Asia markets set to open mixed after Wall Street rally stalls; Bank of Korea rate decision in focus
▼ + stars: | 2024-11-28 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

A general view of the Lotte tower amid the the Seoul city skyline and Han river during sunset. Asia-Pacific markets were poised to open mixed after Wall Street rally stalled overnight even as inflation data came in line with expectations. The U.S. personal consumption expenditure price index, or PCE, rose 2.3% on an annualized basis, accelerating from 2.1% in September. The Bank of Korea is expected to hold its benchmark rate unchanged at 3.25% when its monetary policy committee meets later in the day, according to a Reuters poll of economists. Hong Kong's Hang Seng index futures were at 19,618, higher than the HSI's last close of 19,603.13.

Organizations: Wall, Reuters, Bank of, Nikkei Locations: Seoul, Asia, Pacific, Bank of Korea, Chicago, Osaka

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