Friday, December 31, 2021
Stocks Close a Banner Year On a Down Note. Stocks posted small losses in the last trading session of 2021, but the major U.S. indexes closed out one of their best years on record.The Dow Jones Industrial Average ended New Year’s Eve trading down 60 points, or 0.2%, at 36,338. The S&P 500 index fell 13 points, or 0.3%, at 4766, while the Nasdaq Composite lost 97 points, or 0.6%, to close at 15,645. Still, in 2021, the S&P 500 finished up 27%, completing its best three-year stretch since 1999. The Dow was up 19% on the year, while the Nasdaq gained 21%. Over the last three years, the S&P 500 is up 90%.
U.S. Covid Cases Hit Nearly 500,000 in New Daily Record
The U.S. broke its own record for daily Covid-19 infections after reporting more than 486,000 new cases of the virus, according to data released by the Centers for Disease Control and Prevention.
On Wednesday, the U.S. recorded 486,428 new cases of the virus, the CDC data showed. Cases in the U.S. soared to 316,277 a day on a seven-day average, fueled by the spread of the highly contagious Omicron strain.
U.S. health experts urged Americans to prepare for severe disruptions in coming weeks as the surge threatens hospitals, schools, and other sectors. Thousands of flights have been canceled amid staff shortages due to the Covid surge.
On Wednesday, the U.S. recorded 486,428 new cases of the virus, the CDC data showed. Cases in the U.S. soared to 316,277 a day on a seven-day average, fueled by the spread of the highly contagious Omicron strain.
U.S. health experts urged Americans to prepare for severe disruptions in coming weeks as the surge threatens hospitals, schools, and other sectors. Thousands of flights have been canceled amid staff shortages due to the Covid surge.
U.K. Authorizes Pfizer’s Antiviral Covid-19 Pill
The U.K. drug regulator authorized the Covid-19 oral antiviral pill developed by Pfizer, as the country faces the largest wave of coronavirus cases since the beginning of the pandemic.
The Medicines and Healthcare products Regulatory Agency on Friday said Paxlovid was safe and effective at reducing the risk of hospitalization and death in people with mild to moderate Covid-19 infection at an increased risk of developing severe disease.
The Medicines and Healthcare products Regulatory Agency on Friday said Paxlovid was safe and effective at reducing the risk of hospitalization and death in people with mild to moderate Covid-19 infection at an increased risk of developing severe disease.
CDC’s Omicron Warning: Cancel Your Cruise
The Centers for Disease Control and Prevention warned vacationers against cruise travel even as one major cruise operator sought to downplay the health danger and financial risks of the Omicron variant.
The U.S. health agency said the risk of contracting Covid-19 is “very high,” even for travelers who have received a vaccine booster dose. The warning comes as the cruise operator Royal Caribbean Group sought to downplay the pandemic’s effect on their long-term earnings.
The U.S. health agency said the risk of contracting Covid-19 is “very high,” even for travelers who have received a vaccine booster dose. The warning comes as the cruise operator Royal Caribbean Group sought to downplay the pandemic’s effect on their long-term earnings.
JetBlue Cancels Nearly 1300 Flights to Manage Omicron Staff Shortage
JetBlue Airways has cut about 1,280 flights between Dec. 30 and Jan. 13, to deal with Omicron-related staffing shortages.
“To give our customers as much notice possible to make alternate plans and reaccommodate them on other flights, we are proactively reducing our schedule through January 13,” a JetBlue spokesperson told Barron’s in an email.
“To give our customers as much notice possible to make alternate plans and reaccommodate them on other flights, we are proactively reducing our schedule through January 13,” a JetBlue spokesperson told Barron’s in an email.
Tesla Recalls Nearly 500,000 Cars Over Issues That Could Increase the Risk of a Crash
Tesla has recalled hundreds of thousands of Model 3 and Model S cars over trunk issues, with some Model 3s at risk of a malfunctioning rearview camera caused by damage from opening and closing the trunk.
The automaker reported issues related to all 2017-2020 Model 3s and some 2014-2021 Model S vehicles to the National Highway Traffic Safety Administration on Dec. 21, according to letters acknowledging the recalls from the agency.
The automaker reported issues related to all 2017-2020 Model 3s and some 2014-2021 Model S vehicles to the National Highway Traffic Safety Administration on Dec. 21, according to letters acknowledging the recalls from the agency.
TuSimple’s Autonomous Truck Completes 80-Mile Run
TuSimple said it completed a fully autonomous semi-truck run on open public roads without a human driver or anyone in the vehicle. The company said the run, which took place the night of Dec. 22, was 80 miles from Tucson, Arizona to Phoenix on surface streets and highways.
The company said in a press statement that the drive by its “upfitted autonomous semi-truck” was the “world’s first fully autonomous semi-truck run on open public roads without a human in the vehicle and without human intervention.”
Jobless Claims Drop Below 200,000 Again in Sign of Continued ‘Tight’ Labor Market
The number of Americans filing for first-time unemployment benefits last week was 198,000, down from a week earlier and below economists’ expectations.
Economists surveyed by FactSet were expecting jobless claims for the week ended Dec. 25 of 202,500.
Economists surveyed by FactSet were expecting jobless claims for the week ended Dec. 25 of 202,500.
Home Prices Advanced 19.1% in October
Home prices kept climbing at double-digit rates in October, according to a popular measure of home-price appreciation released Tuesday.
The S&P CoreLogic Case-Shiller Home Price Indices gauge home-price changes nationally and in 20 of the nation’s largest metropolitan areas. National home prices rose 19.1% year over year on an unadjusted basis, a decrease from an annual rate of 19.7% in September, according to the index. Home prices in the 20-city index rose 18.4%, in line with estimates gathered by FactSet that called for a gain of 18.5% year over year.
The S&P CoreLogic Case-Shiller Home Price Indices gauge home-price changes nationally and in 20 of the nation’s largest metropolitan areas. National home prices rose 19.1% year over year on an unadjusted basis, a decrease from an annual rate of 19.7% in September, according to the index. Home prices in the 20-city index rose 18.4%, in line with estimates gathered by FactSet that called for a gain of 18.5% year over year.
The 10 Most Expensive Climate-Change Disasters of 2021
Hurricane Ida, the ninth named storm in another Atlantic season for the books, clobbered New Orleans and much of Louisiana with deadly 150-mile-per-hour winds in the final week of August. But it was far from done. Ida cost $65 billion, according to some measures, and 115 lives; including 50 deaths in the less-suspecting Northeast alone. The property damage made it the most expensive natural disaster of 2021.
In all, the top 10 natural disasters totaled at least $170 billion, according to insurance data, news reports and other sources compiled by U.K. nonprofit Christian Aid.
In all, the top 10 natural disasters totaled at least $170 billion, according to insurance data, news reports and other sources compiled by U.K. nonprofit Christian Aid.
New York Lucky as New Year’s Eve Forecast Predicts Huge Storm for Central U.S.
New Yorkers can expect mild weather tonight when the ball drops in Times Square tonight, with no rain and highs in the mid-50s. Meanwhile, the center of the country is bracing for some serious snowfall for New Year’s Eve.
A huge winter storm is on track to hit the Midwest and Great Plains as the ball drops in Times Square. Travel-halting snowfall is expected in at least 18 states in the center of the country, according to AccuWeather meteorologists.
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