Overview of overnight news on December 11th.

1. The Fed cut interest rates by 25 basis points again, with 3 dissenters. Trump is still not satisfied, and Powell rules out the possibility of a rate hike. 2. Trump will begin final interviews for the Fed chairman candidate this week. The global head of fixed income at JPMorgan Chase said that Hassett's nomination for Fed chairman is not 100% certain. 3. The US Treasury Department stated that the US government's budget deficit in November decreased to $173 billion. Total spending in November was $509 billion, lower than $669 billion in November 2024. 4. Meta is switching its AI direction to closed source mode, and it is reported that the toolkit for training models includes Thousand Questions on Universal Understanding. 5. Oracle's quarterly revenue and profit fell short of expectations, causing a significant drop in stock price after hours. 6. The US allows Lukoil to extend negotiations for overseas assets until January 17th. 7. Netflix's $72 billion acquisition of Warner Bros. faces a group lawsuit. 8. If SpaceX goes public with a valuation of $1.5 trillion, Musk could become the world's first trillionaire. 9. The US announced that the military and law enforcement agencies have detained a tanker near Venezuela.