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The military chiefs of the United States and South Korea said on Thursday they plan to update contingency war plans and review their combined military command while urging North Korea to return to diplomacy.

The Dow and the S&P 500 were set to rise on Thursday, led by gains in planemaker Boeing and travel stocks, although increasing cases of the new Omicron coronavirus variant across the world continued to drive volatility in markets.

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President Joe Biden will lay out his strategy to fight the Omicron and Delta COVID-19 variants over the winter on Thursday, including free and insurer-funded at-home testing and new requirements for international travelers.

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Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

KMW+Nexter Defence Systems (KNDS) is close to making a 650 million euro ($736 million) binding bid for Leonardo's OTO Melara and Wass units, three sources said on Thursday, in a move that could strengthen its position in the land defence sector.

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Russian Foreign Minister Sergei Lavrov said on Thursday that Moscow would soon put forward proposals for a new European security pact which he said he hoped would stop NATO from expanding further eastwards.

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