Stocks mostly retreat on US jobs, oil drops on Ukraine hopes

Stock markets mostly fell Tuesday as the US jobless rate hit its highest level since 2021, while oil prices slumped on renewed hopes for an end to Russia’s war in Ukraine.The US Labor Department reported that unemployment climbed to 4.6 percent in November, its highest level in four years.The report, delayed by a lengthy government shutdown, also indicated that the US economy lost 105,000 jobs in October.Hiring picked up again in November to 64,000, but this was still a slower pace than before.”Today’s US data releases were overall weaker than expected, although not as bad as some had feared either,” said Forex.com analyst Fawad Razaqzada.He noted that market expectations of a Federal Reserve rate cut in March increased to 60 percent after the jobs report, up from around 50 percent.While poor data boosting the chance of interest rate cuts by the US Federal Reserve can often prop up stocks, Wall Street’s main indices pushed lower on signs of a weaker economy.Separate data showed US retail sales held stable in October, while analysts had been looking for a small gain, and September’s rise was revised down to 0.1 percent.But eToro analyst Bret Kenwell pointed out that part of the report that is used for calculating gross domestic product hit its highest level since the summer.”Today’s update underscores two themes that have been in place: A resilient consumer and a cooling labor market,” he said.Meanwhile, the Brent international oil benchmark dropped below $60 per barrel for the first time since May, while the main US crude contract, the WTI, briefly fell below $55 per barrel for the first time since 2021.A deal to end the war in Ukraine could ease sanctions on Russian oil, adding to oversupply concerns already weighing on the market.US President Donald Trump said Monday that a deal to end the war was closer than ever, after Washington said it offered Kyiv NATO-like security guarantees and voiced confidence Moscow would accept.Kathleen Brooks, research director at XTB, also pointed out that prices on Middle Eastern oil for immediate trade are lower than those for futures contracts. “When this happens, expectations are that future prices will fall back towards spot price levels, which can aggravate price declines,” she said.European defense stocks slid Tuesday following the update on the talks, analysts said. “A peace deal between Russia and Ukraine looks to be back on the agenda but there have already been multiple false dawns this year,” noted Derren Nathan, head of equity research at Hargreaves Lansdown.Weak UK jobs data strengthened expectations that the Bank of England will trim borrowing costs on Thursday. The European Central Bank is set to hold interest rates steady this week.The yen held gains against the dollar ahead of an expected rate hike by the Bank of Japan on Friday.Among individual companies, Pfizer fell 3.4 percent after it projected a dip in full-year adjusted profits per share on roughly flat revenues. The big drugmaker is ramping up investments in new products to offset declines in Covid-19 revenues.- Key figures at around 2115 GMT -New York – Dow: DOWN 0.6 percent at 48,114.26 (close)New York – S&P 500: DOWN 0.2 percent at 6,800.26 (close)New York – Nasdaq Composite:  UP 0.2 percent at 23.111.46 (close)London – FTSE 100: DOWN 0.7 percent at 9,684.79 (close) Paris – CAC 40: DOWN 0.2 percent at 8,106.16 (close)Frankfurt – DAX: DOWN 0.6 percent at 24,076.87 (close)Tokyo – Nikkei 225: DOWN 1.6 percent at 49,383.29 (close)Hong Kong – Hang Seng Index: DOWN 1.5 percent at 25,235.41 (close)Shanghai – Composite: DOWN 1.1 percent at 3,824.81 (close)Euro/dollar: DOWN at $1.1747 from $1.1753 on MondayDollar/yen: DOWN at 154.80 yen from 155.23Pound/dollar: UP at $1.3422 from $1.3376Euro/pound: DOWN at 87.52 pence from 87.86Brent North Sea Crude: DOWN 2.7 percent at $58.92 per barrelWest Texas Intermediate: DOWN 2.7 percent at $55.27 per barrelburs-jmb/des

Stocks mostly retreat on US jobs, oil drops on Ukraine hopes

Stock markets mostly fell Tuesday as the US jobless rate hit its highest level since 2021, while oil prices slumped on renewed hopes for an end to Russia’s war in Ukraine.The US Labor Department reported that unemployment climbed to 4.6 percent in November, its highest level in four years.The report, delayed by a lengthy government shutdown, also indicated that the US economy lost 105,000 jobs in October.Hiring picked up again in November to 64,000, but this was still a slower pace than before.”Today’s US data releases were overall weaker than expected, although not as bad as some had feared either,” said Forex.com analyst Fawad Razaqzada.He noted that market expectations of a Federal Reserve rate cut in March increased to 60 percent after the jobs report, up from around 50 percent.While poor data boosting the chance of interest rate cuts by the US Federal Reserve can often prop up stocks, Wall Street’s main indices pushed lower on signs of a weaker economy.Separate data showed US retail sales held stable in October, while analysts had been looking for a small gain, and September’s rise was revised down to 0.1 percent.But eToro analyst Bret Kenwell pointed out that part of the report that is used for calculating gross domestic product hit its highest level since the summer.”Today’s update underscores two themes that have been in place: A resilient consumer and a cooling labor market,” he said.Meanwhile, the Brent international oil benchmark dropped below $60 per barrel for the first time since May, while the main US crude contract, the WTI, briefly fell below $55 per barrel for the first time since 2021.A deal to end the war in Ukraine could ease sanctions on Russian oil, adding to oversupply concerns already weighing on the market.US President Donald Trump said Monday that a deal to end the war was closer than ever, after Washington said it offered Kyiv NATO-like security guarantees and voiced confidence Moscow would accept.Kathleen Brooks, research director at XTB, also pointed out that prices on Middle Eastern oil for immediate trade are lower than those for futures contracts. “When this happens, expectations are that future prices will fall back towards spot price levels, which can aggravate price declines,” she said.European defense stocks slid Tuesday following the update on the talks, analysts said. “A peace deal between Russia and Ukraine looks to be back on the agenda but there have already been multiple false dawns this year,” noted Derren Nathan, head of equity research at Hargreaves Lansdown.Weak UK jobs data strengthened expectations that the Bank of England will trim borrowing costs on Thursday. The European Central Bank is set to hold interest rates steady this week.The yen held gains against the dollar ahead of an expected rate hike by the Bank of Japan on Friday.Among individual companies, Pfizer fell 3.4 percent after it projected a dip in full-year adjusted profits per share on roughly flat revenues. The big drugmaker is ramping up investments in new products to offset declines in Covid-19 revenues.- Key figures at around 2115 GMT -New York – Dow: DOWN 0.6 percent at 48,114.26 (close)New York – S&P 500: DOWN 0.2 percent at 6,800.26 (close)New York – Nasdaq Composite:  UP 0.2 percent at 23.111.46 (close)London – FTSE 100: DOWN 0.7 percent at 9,684.79 (close) Paris – CAC 40: DOWN 0.2 percent at 8,106.16 (close)Frankfurt – DAX: DOWN 0.6 percent at 24,076.87 (close)Tokyo – Nikkei 225: DOWN 1.6 percent at 49,383.29 (close)Hong Kong – Hang Seng Index: DOWN 1.5 percent at 25,235.41 (close)Shanghai – Composite: DOWN 1.1 percent at 3,824.81 (close)Euro/dollar: DOWN at $1.1747 from $1.1753 on MondayDollar/yen: DOWN at 154.80 yen from 155.23Pound/dollar: UP at $1.3422 from $1.3376Euro/pound: DOWN at 87.52 pence from 87.86Brent North Sea Crude: DOWN 2.7 percent at $58.92 per barrelWest Texas Intermediate: DOWN 2.7 percent at $55.27 per barrelburs-jmb/des

Doctor sentenced for supplying ketamine to ‘Friends’ star Perry

The second of two doctors who supplied “Friends” star Matthew Perry with ketamine in the months before he fatally overdosed was sentenced to home confinement by a California court on Tuesday.Mark Chavez, 55, had admitted one count of conspiracy to supply the drug, which the actor was buying for up to $2,000 a vial in the weeks before his 2023 death in the hot tub of his Los Angeles home.Chavez, who ran a ketamine infusion clinic near San Diego, was ordered to be confined at home for eight months. He must also perform 300 hours of community service.The disgraced medic wrote a fraudulent prescription to obtain ketamine — an anesthetic that is also used in depression therapy, but can be misused as a party drug — that he then supplied to fellow doctor Salvador Plasencia.Plasencia, who mused in text messages to Chavez “I wonder how much this moron will pay,” was jailed this month for two-and-a-half years.Both men have surrendered their medical licenses.Three other people who have also admitted their part in supplying drugs to the actor will be sentenced over the coming months.They include Jasveen Sangha, the alleged “Ketamine Queen” who supplied drugs to high-end clients and celebrities, who could be jailed for up to 65 years.Perry’s live-in personal assistant and another man pleaded guilty in August to charges of conspiracy to distribute ketamine.- Addiction struggles -The actor’s lengthy struggles with substance addiction were well-documented, but his death at age 54 sent shockwaves through the global legions of “Friends” fans.A criminal investigation was launched soon after an autopsy discovered he had high levels of ketamine in his system.Perry had been taking ketamine as part of supervised therapy for depression.But prosecutors say that before his death he became addicted to the substance, which also has psychedelic properties and is a popular party drug.First airing between 1994 and 2004, the comedy “Friends” followed the lives of six New Yorkers navigating adulthood, dating and careers.It drew a massive following and made megastars of previously unknown actors.Perry’s role as the sarcastic man-child Chandler brought him fabulous wealth, but hid a dark struggle with addiction to painkillers and alcohol.In 2018, he suffered a drug-related burst colon and underwent multiple surgeries.In his 2022 memoir “Friends, Lovers and the Big Terrible Thing,” Perry described going through detox dozens of times.”I have mostly been sober since 2001,” he wrote, “save for about sixty or seventy little mishaps.”

Israel blocks Canada lawmakers at West Bank border crossing

Six members of Canada’s parliament travelling from Jordan were denied entry to the occupied West Bank on Tuesday by Israeli authorities who accused the delegation of being sponsored by “a terror entity.”Jenny Kwan, an opposition lawmaker with Canada’s left-wing New Democratic Party, told AFP that one MP, Iqra Khalid of Prime Minister Mark Carney’s Liberal Party, was “pushed multiple times” by an Israeli border officer.The lawmakers were on a trip sponsored by Canadian-Muslim Vote, a charity group.Israel’s embassy in Canada told AFP in a statement that the charity receives funding from Islamic Relief Canada, a subsidiary of Islamic Relief Worldwide (IRW), which has been “listed as a terror entity by the State of Israel.”IRW has rejected Israel’s long-standing charge that it is a terrorist group with ties to Hamas.Kwan said the delegation gave Israeli authorities prior warning about their trip, which included a range of planned meetings with aid groups, as well as Palestinian and Jewish civil society leaders.”The Government of Canada formally notified the Government of Israel ahead of the delegation’s travel,” she said in a statement.”Electronic travel authorizations to enter the West Bank were initially approved,” but on arrival at the Allenby Bridge crossing on Tuesday “the entire delegation was denied entry to the West Bank.”Kwan told AFP that before leaving Canada she considered the prospect that the group would encounter difficulties because of Carney’s decision to recognize Palestinian statehood at the United Nations General Assembly in September.”I wondered whether or not this would be an issue,” she said, but ultimately put it out of her mind after the trip was approved.Kwan said the delegation had returned to Jordan’s capital Amman.Canada’s Foreign Minister Anita Anand said on social media that Ottawa “has expressed Canada’s objections regarding the mistreatment of these Canadians.”

Tepid 2026 outlook dents Pfizer shares

Pfizer signaled Tuesday it expects a challenging 2026 as it invests in new products to offset declines in Covid-19 revenues while limiting shareholder payouts.Shares of the big drugmaker fell sharply after it projected a dip in full-year adjusted profits per share on roughly flat revenues.Pfizer expects 2026 revenues of between $59.5 billion and $62.5 billion, compared with $62 billion in 2025.The pharma giant last month completed an acquisition of biotech firm Metsera, deepening its portfolio of products in the fast-growing market for weight loss drugs. Pfizer has also identified oncology as a major growth area, while Chief Executive Albert Bourla insisted the company would continue to invest in vaccines in the face of recent controversial policies under the vaccine-skeptic Trump administration.The drugmaker expects a drop of $1.5 billion in 2026 revenues tied to lower Covid-19 sales and the decline of another $1.5 billion from products experiencing a loss of exclusivity.Pfizer has maintained a dividend but not undertaken share repurchases in 2025. Executives said they would continue to steer cash into development programs rather than stock repurchases.”Obviously I would love to do share repurchases,” Chief Financial Officer David Denton said on a conference call. “The reality is at this point in time, I think the best and highest use of capital is continued investment in business development.”Briefing.com said the results underscored Pfizer’s “painful transition” out of the Covid-19 era. The tepid outlook “indicates that earnings will likely remain stagnant or decline slightly as the company digests the Metsera deal and ramps up R&D,” Briefing.com said in its note. On vaccines, Bourla characterized recent policy shifts under US Health Secretary Robert Kennedy as misguided.”Vaccines are an essential part of any health care system,”  Bourla said. “We will continue investing in vaccines because … this is an anomaly that will correct itself. I hope pretty soon.”Under Kennedy, an appointee of Donald Trump, the Centers for Disease Control recently revised its website with language that undermines its previous, scientifically grounded position that immunizations do not cause autism.Bourla has also touted a deal announced in September with the Trump administration in which the company promised to lower some drug prices in exchange for a three-year reprieve on planned tariffs.Shares of Pfizer fell 3.8 percent in afternoon trading.

Trump a “la personnalité d’un alcoolique”, selon sa directrice de cabinet

Donald Trump a la “personnalité d’un alcoolique”, a lancé sa directrice de cabinet dans un papier retentissant publié mardi par Vanity Fair, et qu’elle a décrit après parution comme un “article à charge présenté de manière malhonnête”.Loin de la critiquer, le président américain a réagi en confirmant au New York Post avoir “une personnalité de …

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Macron à Marseille réaffirme la “guerre” au narcotrafic

Traque des têtes de réseaux, augmentation de l’amende forfaitaire pour les consommateurs de drogues, hommage à la famille Kessaci: Emmanuel Macron a martelé mardi à Marseille sa détermination à mener la “guerre” contre le narcotrafic.Le déplacement présidentiel a débuté par un geste symbolique fort, avec un temps de recueillement sur la tombe de Mehdi Kessaci, assassiné le 13 novembre à l’âge de 20 ans, sans doute pour intimider son frère Amine, militant engagé contre l’emprise des réseaux de trafic de drogue.Un assassinat qui a sidéré la ville, pourtant coutumière des violences liées au trafic de stupéfiants. Même si le nombre de personnes tuées est en baisse depuis deux ans, 17 cette année dans le département, contre 24 l’an dernier et 50 en 2023.Mehdi Kessaci “a été attaqué parce qu’on attaquait” les trafiquants, a estimé M. Macron devant un groupe de policiers lors de l’inauguration d’un commissariat dans les quartiers Nord de Marseille, en présence d’Amine Kessaci, 22 ans, et de sa mère. “C’est une famille courageuse qui se bat, comme beaucoup de Marseillaises et de Marseillais. On ne doit rien lâcher, parce que ce qu’ils (les trafiquants) cherchent à faire, c’est à intimider”, a ajouté le président.- Balle perdue -M. Macron a également rencontré la mère de Socayna, jeune étudiante tuée par une balle perdue alors qu’elle étudiait dans sa chambre en 2023, un drame qui avait déjà secoué la deuxième ville de France.Dans la matinée, lors d’un “face aux lecteurs” du quotidien régional La Provence, le président a promis de mener une “guerre aux réseaux qui tuent des jeunes innocents”, assurant qu’il “n’y a(vait) aucune chance qu’ils (les réseaux) gagnent”.Il a affiché sa volonté d’aller “chercher dans les pays où sont les têtes de réseau de la coopération, pour pouvoir saisir leurs biens, pour pouvoir arrêter les têtes de réseau, nous les restituer”.Le chef de l’État doit se rendre dimanche pour le Noël aux troupes aux Émirats arabes unis, où d’importants narcotrafiquants ont trouvé refuge, selon la justice française.Concernant les consommateurs, dont il fustige régulièrement la responsabilité, il a annoncé un passage à 500 euros, contre 200, de l’amende forfaitaire délictuelle. “J’en ai ras-le-bol d’avoir des jeunes qu’on pleure et dans des quartiers d’avoir d’autres gens qui considèrent que c’est festif d’aller acheter de la drogue”.Pour le maire divers gauche de Marseille, Benoit Payan, cette mesure “ne mettra pas fin au trafic”. “Mes ennemis, c’est ceux qui ont du sang sur les mains, c’est les narcotrafiquants. Mais évidemment que les consommateurs doivent se poser la question de ce qu’ils font”.M. Payan a surtout réclamé plus de moyens pour la réinstallation de services publics dans les quartiers paupérisés et gangrénés par les trafics.Amine Kessaci avait de son côté souhaité mardi matin sur Ici Provence la création d’une “convention citoyenne de la lutte contre le narcotrafic pour justement créer un espace de parole et donner la parole” aux habitants.En fin d’après-midi, toujours dans la thématique sécuritaire, M. Macron a inauguré l’agrandissement de la prison des Baumettes.- Continuer le travail -Il a également défendu le bilan du plan “Marseille en grand” – “qui n’a pas d’équivalent” – lancé en grande pompe en 2021 pour aider la cité phocéenne à rattraper ses retards, avec cinq milliards d’engagements de l’Etat à la clé.La Cour des comptes avait dénoncé en octobre 2024 un suivi “indigent” et un “défaut de cohérence” de cette initiative, destinée à rénover les écoles insalubres, développer les transports en commun, réduire la fracture géographique et sociale entre quartiers nord et sud et renforcer les effectifs de police.Alors que l’Élysée a mis en ligne juste avant la visite un site permettant de suivre la progression des différents projets, M. Macron a souligné qu’il allait “sur le terrain, voir les réalisations et ce qu’il reste à faire pour +Marseille en grand+. Et je continuerai, moi, de rendre compte et de continuer le travail”.Les deux-tiers des crédits sont désormais engagés, assure l’Elysée, citant la livraison de 15 écoles, des projets en cours sur 86 autres ou l’arrivée de 350 policiers supplémentaires dans les Bouches-du-Rhône.Le chef de l’État a conclu sa visite en lançant symboliquement les travaux de la Ligne nouvelle Provence Côte d’Azur, qui vise notamment à reconfigurer le réseau régional et certaines gares, notamment l’extension de la gare Saint-Charles, un investissement de 3,6 milliards d’euros.