ibt-mailDec 27, 2024, 9:41 AM

Americans Spend More This Holiday Season, Pack On More Debt

Newsletter Dec 27, 2024 Quick Six Americans spend more this holiday season, pack on debt More people ate at restaurants and shopped for clothes and jewelry, with a report showing a 3.8% increase in

Newsletter Dec 27, 2024

Quick Six

Americans spend more this holiday season, pack on debt
More people ate at restaurants and shopped for clothes and jewelry, with a report showing a 3.8% increase in retail sales compared to last year. The Mastercard report showed that US consumers continued to increase spending as the Federal Reserve's interest rates dropped and inflation decreased across various sectors. Overall buying conditions improved this year as Mastercard's figures exceeded the spending and shopping forecast by the National Retail Federation, which projected total sales would rise between 2.5% and 3.5% for the holiday season.
MORE THAN 1 IN 3 AMERICANS ADDED DEBT THIS HOLIDAY

Automakers make seven-figure donations to Trump inaugural
Automakers like General Motors, Toyota North America, and Ford have pledged $1 million contributions to president Donald Trump's inauguration. The donations to Trump's inaugural fund comes as he plans to cut electric vehicle funding and tax credits, despite data showing consumers have saved more than $2 billion from EV adoption. While automakers are donating to Trump's inaugural fund, experts forecast Trump's steep car tariffs on imports from Mexico and Canada, could push the EV market behind locally.
WHY COMPANIES ARE DONATING TO TRUMP INAUGURAL

Continuing jobless claims hit highest point since pandemic
Jobless claims fell slightly for the week of Dec. 21, but continuing claims hit a three-year high, according to the Labor Department. Seasonally adjusted claims dropped to 219,000, a decrease of 1,000 from the previous week, fewer than the 223,000 forecast by analysts. The Labor Department said the four-week moving average for first-time filings was 226,500. But continuing jobless claims increased 46,000 to 1.9 million the week of Dec. 14.
WHY CONTINUING CLAIMS ARE HIGHEST SINCE PANDEMIC

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Markets

DJIA	43,325.80	0.07%
S&P 500	6,037.59	-0.04%
Nasdaq Composite	20,020.36	-0.05%
Japan: Nikkei 225	39,849.80	0.71%
UK: FTSE 100	8,136.99	0.42%
Crude Oil Futures	69.55	-0.10%
Gold Futures	2,652.80	-0.04%
Yen	157.80	-0.13%
Euro	1.04	-0.04%
* As of market close

'Living Nostradamus' makes 2025 tech picks

Athos Salomé, also known as "Living Nostradamus," and who is known for his supposedly highly accurate predictions, has once again sparked intrigue after delivering his 2025 predictions. Salomé, who claims he predicted the COVID-19 pandemic, the death of Queen Elizabeth II, and and Russia's still ongoing invasion of Ukraine, this time made predictions focused on the recent developments around technology. In an interview with the Daily Star, Salomé shared his visions of what 2025 will unravel -- and you may not be prepared for some of them.

AI APOCOLYPSE IS AMONG SALOME'S BIZARRE PREDICTIONS

Trump touts Gretzky for Canada's 'Governor'

President-elect Donald Trump took to Truth Social to suggest that hockey legend Wayne Gretzky should run for Prime Minister of Canada - or as Trump put it, "Governor of Canada." The prodding follows recent statements from Trump suggesting that Canada could become the 51st state of the US. Trump referred to Canadian Prime Minister Justin Trudeau as the "Governor of the Great State of Canada" during a Mar-a-Lago dinner. Trump said that Canada should join the US, claiming residents would save on taxes and benefit from military protection.

TRUMP'S RECENT CLAIMS ON PANAMA, CANADA, GREENLAND

Gold rush? How metal finds Earth's surface

Researchers say they have uncovered the mechanism in which gold deposits are brought to the Earth's surface -- a process long debated. The scientists discovered that a gold-sulfur complex coaxes the metal from deep underground to volcanic and magma rocks. The researchers used "numeric modeling" to reveal the conditions that lead to the enrichment of gold in magmas that rise to the Earth's surface. They made a thermodynamic model based on lab experiments in which they controlled pressure and temperature to create artificial magma.

WHAT THE FIND MEANS FOR FUTURE OF GOLD EXPLORATION

Extra point

What nations have the most gold deposits and the most gold reserves?

Thursday's answer: According to Google, Donald Trump, Taylor Swift and YouTube are the most searched man, woman and thing of all time.

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