Top Overnight News President Trump said Sunday he's decided who he'll nominate to be the next Federal Reserve chair, but he wouldn't be drawn on whether the pick is National Economic Council director Kevin Hassett. White House Economic Adviser Hassett said he will be happy to serve if US President Trump picks him as Fed chair. Trump said on Friday he is cancelling all executive orders signed by former President Biden using autopen and stated that any document signed by Biden with autopen, which was approximately 92% of them, is hereby terminated and of no further force or effect. Furthermore, Trump stated that Biden was not involved in the autopen process and if he says he was, he will be brought up on charges of perjury. US and Ukrainian negotiators said they held productive talks on a potential peace framework but have yet to reach a breakthrough. Steve Witkoff is due to meet Vladimir Putin in Russia tomorrow. BBG Black Friday sales climbed 4.1%, Mastercard said, surpassing last year’s growth, a sign US consumers are continuing to spend despite persistent economic concerns. But Adobe Analytics expects growth in Cyber Monday sales to ease from last year. BBG The State Department announced a pause on visa issuances for Afghan passport holders, and the US immigration service said it will halt all asylum decisions, while the US Citizenship and Immigration Services Director said USCIS halted all asylum decisions until they can ensure that every migrant is vetted and screened to the maximum degree. For years it has seemed no sticker price was too high for American car buyers. Even as average new car prices approached $50,000 this year, dealers fretted more over depleted inventories than losing customers to sticker shock. Those days may be ending as increasingly stretched consumers are starting to draw the line on what they will pay for a new car, according to dealers, analysts and industry data. WSJ Trump downplayed his social media post saying Venezuelan airspace should be considered closed. The president confirmed he recently held a phone call with his counterpart Nicolas Maduro, but declined to say how it went. BBG A private gauge of China’s manufacturing sector showed Chinese factories cut back on activity in November, reflecting weaker growth momentum. China RatingDog manufacturing PMI for Nov came in below expectations at 49.9 (vs. the Street 50.5 and down from 50.6 in Oct). WSJ Micron will invest $9.6 billion to build a plant in western Japan to make memory chips for AI applications. Nikkei The BoJ will thoroughly discuss the possibility of an interest-rate increase at its coming meeting, Gov. Kazuo Ueda said, stoking hopes that it will resume monetary tightening this year. Now that Tokyo’s trade agreement with the Trump administration has reduced external risks, the BOJ governor said the central bank will pay special attention to the outlook for wage increases in Japan next year. WSJ Copper rallied to a new record on fears the global market is heading for a supply crunch. Silver extended gains. BBG(zerohedge)