Five Stories Moving the Market:
U.S. to require negative Covid tests for travelers from China – Bloomberg. The U.S. will require airline passengers coming from China to show negative Covid-19 tests as global concerns ratchet higher over the virus’s spread since the country lifted restrictions aimed at stamping out infections.
Kremlin says any Ukraine peace plan must include annexed regions – Reuters. The Kremlin on Wednesday dismissed Ukrainian President Volodymyr Zelenskiy's 10-point peace plan, saying that proposals to end the conflict in Ukraine must take into account what it calls "today's realities" of four Ukrainian regions having joined Russia.
ECB’s Simkus says inflation peak is still to come – FT. Euro-zone inflation is showing a half-year lag to that of Lithuania, meaning the peak is yet to come, European Central Bank Governing Council Gediminas Simkus told the Financial Times.
U.S. pending home sales fall to second-lowest level on record – Bloomberg. U.S. pending home sales fell for a sixth month in November to the second lowest on record as higher borrowing costs and an uncertain economic outlook kept many potential buyers out of the market.
Dollar hits one-week high vs yen amid reset in investor expectations – Reuters. The dollar touched a one-week high against the yen on Wednesday, boosted by a jump in Treasury yields and investor expectations for a rebound in Chinese growth as COVID-19 curbs loosen.
Russian gas exports to Europe via pipelines plummeted to a post-Soviet low in 2022 as its largest customer cut imports due to the conflict in Ukraine and a major pipeline was damaged by mysterious blasts, Gazprom data and Reuters calculations showed – Reuters.
Hong Kong will end some of its last major Covid rules, scrapping gathering limits to vaccination checks and testing for travelers, in a sweeping overhaul of policies aimed at reviving its reputation as a global financial center – Bloomberg.
Russian forces stepped up mortar and artillery attacks on the recently liberated city of Kherson in southern Ukraine on Wednesday, Ukraine's military said, while also exerting pressure along frontlines in the east – Reuters.
China's growth will accelerate to 4.7% in 2023 as the economy is expected to be relieved from the spread of COVID-19 and virus-related restrictions in the second half of the year, economists and analysts say – Nikkei Asia.
Japan on Wednesday recorded 415 COVID-19 deaths, the highest-ever count for a single day, health ministry data showed – Reuters.
The United States, NATO and European Union urged maximum restraint in the north of Kosovo, as authorities closed a third border crossing on Wednesday – Reuters.
EQT Corp, the largest U.S. natural gas producer, saw production drop by as much as about 30% during the recent bout of extreme cold that caused disruptions for some of its wells in the Appalachian Basin – Bloomberg.
Imported baby formula will be subject to tariffs again in the new year, after the expiration of exemptions implemented amid a nationwide shortage – WSJ.
Immigrant inventors in the U.S. are “substantially” more productive than native-born scientists, according to a paper from the National Bureau of Economic Research – Bloomberg.
Rival airlines have capped fares in some cities in response to an influx of last-minute bookings made after Southwest Airlines scrapped thousands of flights during the past week – WSJ.
Exxon Mobil is suing the European Union in a push to eliminate a new windfall tax against oil groups, arguing the bloc does not have legal authority to impose the levy – Bloomberg.
Southwest Airlines’ Chief Executive Officer Bob Jordan told employees he is “accountable” for the airline’s dramatic flight cancellations that have stranded thousands of passengers and employees across the U.S. – Bloomberg.
TG Therapeutics said on Wednesday that the U.S. health regulator had approved its monoclonal antibody for treating patients with relapsing forms of multiple sclerosis, sending its shares up 47% in afternoon trade – Reuters.
U.S.-based crypto exchange Kraken said on Wednesday it would cease its operations in Japan next month, citing the current market conditions in the country and a weak crypto market globally – Reuters.