Friday, December 24th, 2021
Santa Claus Rally, Ex-Officer Guilty & Lickable TV
All the news you need in around 10 min:
This episode is brought to you by Schwab.com/plan and kiwico.com (Listen for the discount code)
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...
Stocks Close at Record High
Investors got an early Christmas gift this year. American stocks rose to a record-high close yesterday, the last day of trading before the holiday weekend. The S&P 500 hit a record, and the Dow and NASDAQ went up, too. This could be because, even though there are new fears about Covid-19, there have also been quite a few positive signs for the U.S. economy this week. Remember, the latest Consumer Confidence Index showed an uptick in spending plans over the next six months. And some analysts say development in Covid-19 treatments and vaccines have investors optimistic about the future.
Read More: Financial Times, CNBC, Fox Business, WSJ, Investopedia
Jobless Claims Near Historic Lows
First-time unemployment applications didn’t change this week from last. Once again, about 205,000 people applied for benefits for the first time. That's near the lowest level in more than half a century, and it’s a sign layoffs are still trending low. Also, this time of year typically sees stock market success. It’s referred to as the Santa Claus rally. The end of December through the first two trading days in January often see an uptick. Experts say it could be thanks to tax considerations, a general feeling of optimism, the investment of holiday bonuses, and more.
Read More: WSJ, Reuters, AP, Labor Dept.
Oil Refinery Fire
One of the largest oil refineries in the U.S. caught fire this week, and at least four people were hurt. It happened at an Exxon Mobil complex in Baytown, Texas. It's not clear exactly what sparked the fire, but Reuters says it started in a unit meant to take sulfur and other contaminants out of gasoline. That unit was shut down earlier this week because of a leak, and the fire broke out when contractors were working to fix it yesterday. Gas Buddy says it’s too early to know how this latest incident could impact gas production and prices. But, since this is the fourth largest refinery in the United States, there might be some fallout.
Read More: Houston Chronicle, Reuters, CBS News, ABC News, Exxon
Kim Potter Trial Verdict
This week, a jury convicted the former Minnesota police officer who says she confused her gun for her taser when she shot and killed a man at a traffic stop. Kim Potter was found guilty of manslaughter. She shot and killed 20-year-old Daunte Wright last April, and that sparked several days of large protests. Last week, Potter testified at her trial, breaking down into tears on the stand and apologizing for her mistake. Potter is expected to hear her punishment in February. So far, the defense team hasn’t commented about the verdict or the upcoming sentencing.
Read More: AP, Fox News, Axios, USA Today
CDC Shortened Isolation Protocol
The CDC is hoping a new change could help staffing shortages at American hospitals. The agency shortened its recommendation for how long healthcare workers have to isolate after testing positive for Covid-19. Instead of 10 days, it’s now down to 7 days as long as they don’t have symptoms so they can get back to work a little sooner. The CDC also now says after a healthcare worker has been exposed to Covid-19, they can skip quarantines as long as they’re vaccinated and never test positive. It comes as 1 in 5 American hospitals are stretched to their limits.
Read More: CBS News, NY Times, ABC News, CDC
Merck Covid Pill Authorized
One day after authorizing the first antiviral pill to treat Covid-19, the FDA authorized a second. The Merck option was just given the okay. Like the Pfizer option, it can be picked up at a pharmacy and taken at home before people are so sick they have to go to the hospital. It’s also for high-risk adults only, but the FDA says it should only be taken if other options aren’t available. In trials, the Merck pills cut the risk of hospitalization or death by 30%. Pfizer's pills cut the risk by nearly 90%.
Read More: WaPo, NPR, CNN, Fox Business, FDA
New Restrictions for NYE In Times Square
Even with the latest wave of Covid-19, the most-watched New Year celebration in the world is happening anyway. New York City's Times Square usually has viewing areas around the famous ball-drop that hold about 58,000 people. This year, it will be limited to 15,000, so they have some space to spread out. Also, everyone five and older will have to show proof they’ve been vaccinated, and they have to wear masks. Still, that’s a little more normal than last year when no one was allowed, and the ball drop was only virtual. Also, this year, other cities like Los Angeles, Seattle, Paris, and London have canceled major in-person events altogether.
Read More: NYC.gov, AP, NY Post, CNN, Fox News, Times Square NYC
James Webb Space Telescope Launch
Tomorrow marks the launch of the most powerful space telescope ever created. The James Webb Space Telescope is meant to follow Nasa’s Hubble telescope. The Webb has the biggest mirror of any space-bound telescope ever, which lets it collect light from some of the most far-off stars and galaxies in the universe. It’s meant to unravel some of the mysterious supermassive black holes, stellar explosions, dark matter, and more. Nasa and other space agencies have worked for nearly 30 years on this telescope and getting it to the launch pad. If everything works out, it could begin taking pictures and collecting data next year.
Read more: CNN, TheVerge, Space.com, AP, NASA
RIP Joan Didion
The world is saying goodbye to one of the most influential writers of the 20th century. Joan Didion passed away from complications of Parkinson's. She’s best known for chronicling the hippie culture of the 1960s and 70s. That started with her groundbreaking book of essays, ‘Slouching Towards Bethlehem.’ Also, her 1979 nonfiction book ‘The White Album’ is revered as one of the most important essay collections in American history. She also wrote well-known screenplays, like the 1976 version of ‘A Star is Born.’ Joan Didion was 87 years old.
Read more: NY Post, WaPo, WSJ, NY Times
Amazon Labor Deal
America’s second-largest private employer made a major deal with a national labor agency. It should make it easier for more than 750,000 workers around the country to organize at work. The deal is between Amazon and the National Labor Relations Board, which investigates claims of unfair labor practices. Amazon has been under pressure to improve worker rights. So in this new settlement, Amazon said it’ll email past and current warehouse workers reminders about those rights. It will also let the labor agency sue Amazon more quickly if they feel the company isn’t living up to the agreement.
Read more: NY Times, WSJ, Engadget, NBC News, FOIA
TV Screen You Can Taste
Japanese scientists invented a lickable screen so you can taste what you see on TV. A Japanese university professor and his team of students invented the prototype called Taste The TV. It can imitate food and flavors. It uses a carousel of flavor canisters that spray a combo that can imitate the taste of a specific food. Then, the flavor sample rolls on hygienic film over a flat TV screen for the viewer to try. The professor said the goal is to make it possible for someone sitting at home to try a restaurant on the other side of the world. For now, the Taste The TV is just a prototype, but he says he’s in talks with companies about developing the technology
Read more: Reuters, The Verge, BBC, TechRadar
What’s Open/Closed on Christmas
Here’s a rundown of what will be open and closed this holiday weekend. Target, Walmart, Costco, Kroger, Whole Foods, Trader Joe's, Aldi, and more will be open today on Christmas Eve but not Christmas day tomorrow. Some locations of stores like Safeway, Vons, and Albertsons should be open on Christmas with limited hours. Other big-box stores that are open today but not on Christmas are Bed Bath and Beyond, Apple, Best Buy, Dick’s Sporting Goods, and Kohls, just to name a few. Most of them are closing earlier than normal tonight, so check holiday hours before you go.
Read more: AJC, NJ.Com, USA Today, Good Housekeeping
Feel Good Friday: Teacher Raises $100k To Feed Students
Thousands of students in a North Carolina school district aren’t going hungry this holiday, thanks to one teacher. Turquoise Parker raised more than $100,000 to send her students home with food over the winter break. She had help from a local attorney and volunteers in the Durham area. Her growing list of donors and community partners helped her raise the money, allowing her to buy groceries for students in all 12 Durham schools. That means more than 5,000 kids went home for their 2-week break with 12-pound bags of food.
Read more: Fox News, News Observer, WTVD