Markets: - The S&P 500 neared a record high as investors bet on further Fed easing in 2024. - Netflix's $72B acquisition of WBD faced a collective lawsuit. - Key Chinese ADRs were mixed: TSMC rose 2.21%, while PDD fell 1.59%. - Oil prices dipped after U.S. crude inventories showed a smaller-than-expected draw. - Spot gold gained 0.46% to $4,227.37/oz. - European markets held steady ahead of the Fed decision.

Macro: - The Fed cut rates by 25bps (75bps total in 2023), with three dissenting votes. Powell ruled out future hikes. - The "dot plot" showed no change in 2026 rate projections. - The U.S. budget deficit hit $173B in November. - Trump criticized the Fed's "weak" rate cut, calling for deeper easing.

Corporate: - Oracle shares dropped post-market after missing revenue and profit estimates. - SpaceX could make Musk the world's first trillionaire if it IPOs at $1.5T valuation. - Meta shifted AI strategy toward closed-source models, reportedly using tools like Tongyi Qianwen.

Legal/Geopolitical: - Ukraine claimed a drone strike hit a Russian "shadow fleet" tanker in the Black Sea. - The U.S. extended negotiations on Lukoil's overseas assets until Jan 17.

Commodities: - Oil reversed losses to close higher after the U.S. seized a tanker near Venezuela. - EIA reported a 1.812M-barrel crude draw vs. 1.3M consensus.

Fixed Income: - Treasury yields fell as traders priced in two 2026 rate cuts. - The dollar hit session lows post-Fed decision.

Comments: - "This might be Powell's final cut," said DoubleLine's Gundlach. - JPMorgan noted uncertainty around Hassett's potential Fed chair nomination.