Friday, January 29th, 2021
Market Frenzy Restrictions, Open Enrollment 2.0 & GM’s Electric Promise
All the news you need in around 10 min:
Today's episode is brought to you by BlueNile.com and Ritual.com/newsworthy
Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want reading the latest happenings...
Brokerages Block Certain Stock Purchases
More brokerages have started restricting smaller investors from making certain buys while still allowing the more powerful players on Wall Street continued access. Platforms like Robinhood said trading in stocks such as GameStop, AMC Entertainment, Bed Bath & Beyond, and more would be affected by new restrictions. That’s because individual investors have been coming together on forums like Reddit to rally behind the struggling companies more seasoned investors had already bet against.
Read More: WSJ, AP, The Verge, NPR
Congress Hearings on Market Frenzy
A Robinhood customer filed a class-action lawsuit against the stock-trading app Thursday after the company barred traders from buying shares of GameStop and others. Lawmakers also criticized the new restrictions by Robinhood and other companies. The U.S. House Financial Services and Senate Banking Committees have promised to hold hearings on the stock market. Also, the SEC is keeping an eye on the situation.
Read More: The Verge, Reuters, Axios, The Hill
Capitol Police Security Request
The head of the Capitol Police Department requested a permanent fence around the U.S. Capitol and back-up security staff on standby at all times. No word on whether her request might be approved. Separately, House Speaker Nancy Pelosi said lawmakers will also likely need more funding for personal security. More than 30 lawmakers signed a letter calling for more protection in their home districts. They noted the threats against members of Congress have been skyrocketing in recent years.
Read More: Reuters, NBC News, FOX News
GA Food Plant Accident
A Georgia poultry plant became the scene of a deadly accident yesterday. A liquid nitrogen leak killed at least six people. Three others are in critical condition in the hospital. They all worked for the Foundation Food Group in Gainesville, about 60 miles northeast of Atlanta. A local sheriff said, “they’re not in a profession that you would expect something like this to happen.” Nitrogen is often used to freeze-dry food products. So far, authorities haven’t said what caused the leak, but an investigation is underway.
Read More: AJC, CBS News, NBC News,
Novavax Vaccine Data
Another vaccine maker says it has a COVID-19 vaccine that’s safe and effective. Novavax says its shots offer great protection from the virus. This is based on a final-phase trial done in the UK. Against the original strain of COVID-19, researchers found the vaccine was about 96% effective. Against the UK strain, the efficacy rate was 86%. However, the same shot was found to be less than 50% effective at preventing the strain first found in South Africa. Like the other vaccines on the market, this one comes in two doses.
Read More: NPR, NY Times, USA Today, Novavax
South African Strain Found SC
The U.S. reported its first-known American cases of that South African COVID-19 strain. Two unrelated people in South Carolina came down with it. Neither one reported having traveled to South Africa. There’s a concern this version spreads more easily, but so far, it doesn’t seem like it causes more severe illness. Health officials also worry if the virus changes enough, people might be more likely to get COVID-19 multiple times. More research is needed to know for sure.
Read More: AP, CNBC, WSJ
Healthcare Marketplace Reopens
Americans are getting another chance to sign up for government health insurance through the Affordable Care Act. President Biden decided to reopen the marketplace in his latest executive action. Healthcare.Gov will allow signups again from February 15th to May 15th. Biden says this second enrollment period is necessary since nearly 26 million Americans have gotten COVID-19 in the last year and millions more lost their jobs. 14 states don’t use Healthcare.Gov. However, they are reportedly likely to follow suit.
Read More: WaPo, Reuters, NY Times, White House
G.M. to Phase Out Gas Vehicles
The automaker General Motors promised to phase out its gas and diesel-burning vehicles. By 2035, the company says all its passenger cars, vans, and SUVs will be zero-emission vehicles. GM says it plans to refurbish factories to churn out electric cars and it will invest in battery production. GM plans to have 30 types of electric vehicles ready to go in the next four years and it will grow more from there. Some other automakers have already vowed to make more electric and zero-emissions vehicles in the coming years.
Read More: NY Times, CBS News, WaPo, Statista, GM
Actress Cicely Tyson Dies
Cicely Tyson passed away at 96 years old. The Emmy-winning actress was a pioneer in film and television. She often portrayed resilient Black women. Tyson is probably best known for her role in the 1972 film Sounder. She also played remarkable roles like abolitionist Harriet Tubman and Civil Rights leader Coretta Scott King. Overall, her career spanned more than seven decades. During that time, she won three Emmys and a Tony.
Read More: AP, WaPo, Hollywood Reporter
National Museum of African American Music Opens
The National Museum of African American Music opens in the heart of Nashville tomorrow. It’s the only museum in the U.S. solely dedicated to celebrating and preserving the many music genres created, influenced, and inspired by African Americans, including blues, jazz, gospel, R&B, and hip hop. It’s 56,000 square feet and cost $60 million to create. It includes interactive experiences and also has artifacts and memorabilia. Starting tomorrow, it’s open to the public on Saturdays and Sundays through the end of February.
Read More: NMAAM, Forbes, WSJ
String of Palindrome Dates
Today marks the end of a long stretch of palindrome dates. That’s when the date reads the same backward and forward. So today is 1-29-21 either way you look at it. It’s been like that for the last 10 days in a row. There will be more later this year too. Overall, 2021 has 22 palindrome dates. That’s a big deal because there are only two years every century that contain so many. There won’t be 22 in one year again until 2111.
Read More: Houston Chronicle, Nashville Tennessean, Farmers Almanac
Feel Good Friday- Bernie Mittens Memes Help Charity
The now-notorious Sen. Bernie Sanders mittens are no longer just an internet meme sensation. Sanders decided to use the excitement over his inauguration day outfit to raise money for charity. His team started putting his image on things like t-shirts, sweatshirts, and stickers. The merchandise went up for sale on Sanders’ campaign website and sold out fast. Overall, Sanders says this raised $1.8 million for organizations in his home state of Vermont. Getty Images will also be donating proceeds from the photo to Meals on Wheels of America.
Read More: AP, CBS News, Campaign Website