Global news you need to know before the U.S. stock market opens on Wednesday

Lighthizer's protégé, closely involved in the "Trump 1.0" trade negotiations, has been nominated as the U.S. Trade Representative. The U.S. Q3 real GDP annualized quarter-on-quarter growth remains at 2.8%, unchanged from the initial estimate, while the PCE price index has been revised down to 2.1%. The job market is cooling, with initial jobless claims remaining low last week, and the number of continuing unemployment claims reaching the highest level since November 2021. ECB officials warn that excessive easing could waste "precious policy space." The Reserve Bank of New Zealand cut interest rates by 50 basis points to 4.25%, in line with expectations; the RBNZ Governor hinted at a further 50 basis point cut in February next year. OpenAI received a new investment of $1.5 billion from SoftBank, allowing employees to sell shares for cash. Reports indicate that TSMC has suddenly canceled the completion ceremony for its U.S. factory originally scheduled for early December. South Korea's SK Hynix announced a 25% increase in its fixed dividend. Dell Tech's U.S. stock fell over 12% in pre-market trading, despite the company's profits exceeding expectations and an optimistic outlook for its AI business, but revenue and guidance fell short of expectations. HP's stock briefly dropped about 10% in pre-market trading after the company released its earnings report, with profit guidance falling below expectations. BYD responded to requests for suppliers to reduce prices by 10%: annual negotiations are an industry norm, and the price reduction target is not mandatory. SAIC Motor Corporation and Volkswagen Group have renewed their contract until 2040, with SAIC Volkswagen set to launch 18 new models before 2030. Morgan Stanley's outlook for the U.S. stock market in 2025: reaching 6,500 points by the end of the year, with a preference for high-quality cyclical stocks. The Nikkei 225 index closed down 0.8%; the Shanghai Composite Index closed up 1.54%; the Hang Seng Index closed up 2.32%