In the UK, the FTSE 100 is struggling for direction post-rate cuts, with rumors of more cuts swirling around. Meanwhile, the UK government is preparing to have a friendly chat with President-elect Trump to avoid any trade spats, given Trump's enthusiasm for tariffs.

Yesterday, global markets were like a buffet with a little something for everyone. In the US, S&P 500 futures crept up by a modest 0.1%, while the Dow Jones Industrial Average futures decided to take a day off, staying flat. Across the Atlantic, European markets were equally unenthusiastic, with the Stoxx Europe 600 barely budging and the FTSE 100 slipping by a mere 0.1%. In Asia, Japan's Nikkei 225 managed a 0.3% rise, while Hong Kong's Hang Seng and China's Shanghai Composite decided to take a dive, dropping by 1.1% and 0.5%, respectively.

In corporate news, International Consolidated Airlines Group (IAG), the parent of British Airways, announced a EUR350 million share buyback program after a stellar third quarter. Meanwhile, Rightmove, the UK property website, is on track to meet market expectations for revenue and operating profit in 2024, with a forecasted revenue growth of around 7.1%. They're feeling pretty good about their future. On the other hand, outsourcing firm Serco missed out on a contract for onshore immigration detention facilities in Australia, a deal that would have significantly boosted its 2025 revenue and profit. In Asia, China just announced a hefty support package to prop up its economy, focusing on local government debt and bank non-performing loans. This comes amid concerns about potential trade tensions with the US under Trump. 

Things to read today: