Key Points

The S&P 500 and Nasdaq Composite have had three consecutive weeks of gains and closed at records on Friday.
President-elect Donald Trump said he does not plan to fire Federal Reserve Chairman Jerome Powell early.
Rebel forces seized the Syrian capital of Damascus, apparently ending decades of dictatorship by the Assad family.

1. Dow drags

The major US stock indices enjoyed another strong run last week, except for the Dow Jones Industrial Average.
. The S&P 500
and Nasdaq Composite
Both had their third consecutive positive week, rising 1% and 3.3%, respectively, to close with new records on Friday. But the Dow Jones fell 0.6% for the week. Job growth in November was better than expected on Friday, and data due on Wednesday could show inflation remains higher than the Federal Reserve prefers. Still, traders overwhelmingly expect the central bank to cut rates again at its Dec. 17-18 meeting. Follow live market updates.

2. Powell plans

Jerome Powell’s job may be secure when President-elect Donald Trump takes office next month. Asked if he plans to end the Federal Reserve chair’s term before it ends in May 2026, Trump told NBC’s Kristen Welker: “I don’t.” Powell, who has said it would not be legal for Trump to try to remove him from office early, has emphasized that he would not leave office before his term expires. Trump, who appointed Powell to lead the central bank in 2018 before President Joe Biden nominated him for another term in 2022, has argued that the president should have more say over interest rate policy.

3. Assad falls

The Assad dictatorship in Syria has apparently collapsed after decades of family rule. Rebel forces seized the Syrian capital of Damascus on Sunday, causing President Bashar al-Assad to flee. The rebel coalition was led by the Islamist militant group Hayat Tahrir al-Sham, which the United States and the UN Security Council have designated as a terrorist organization. “We declare the city of Damascus free from the tyrant Bashar al-Assad,” Hassan Abdul-Ghani, a senior HTS commander, said in a WhatsApp post. “To displaced people around the world, free Syria awaits.” The opposition now has the complex task of forming a new government after years in which the Assad regime used lethal force to quell dissent.

4. Corporate world shudders

The murder of United Healthcare CEO Brian Thompson last week sent shockwaves through corporate America and has companies questioning even the most routine executive responsibilities. “Everyone is struggling to say, ‘Are we safe?'” said Chuck Randolph, chief security officer at Ontic, a threat management software provider based in Austin, Texas. After Thompson was shot to death on a Manhattan sidewalk on the way to the company’s investor day, companies are concerned that their executives face an increased risk of violence. More companies have moved to seek safety for their leaders, while at least one other has made an in-person investor event virtual.

5. Subway signing

Baseball’s biggest free agent prize is headed to the New York Mets, according to multiple reports. Slugger Juan Soto will go from the Bronx to Queens on a 15-year, $765 million contract, media reports said. That is the largest contract ever made in professional sports. Soto, 26, a four-time All-Star who helped lead the New York Yankees to a World Series appearance last year, will join a Mets team that lost the National League Championship Series. against the eventual champions Los Angeles Dodgers. .