Newsletter Dec 17, 2021

President Biden hoped to make his Build Back Better bill the centerpiece legislation of his first year in office, but now he will have to wait until 2022.
3 things you must know

  • Biden's Build Back Better plan put on back-burner till 2022

    It looks like President Joe Biden’s Build Back Better bill will be pushed into next year as discussions with Sen. Joe Manchin, D-W. Va., have failed to resolve his objections to the bill. Manchin, now the lone Democratic holdout, has expressed concerns about the cost of the bill’s programs and doesn't want it to exceed $1.75 trillion. 

    FIND OUT WHY DEMOCRATS ARE FED UP WITH MANCHIN

  • Biden signs debt ceiling bill to keep US going until 2023

    Biden signed a debt ceiling bill on Thursday, raising the nation’s borrowing limit by $2.5 trillion, which is expected to cover the federal government’s expenses until 2023. The bill passed after both parties reached an agreement to avoid the filibuster and allow Democrats to fast track the bill to the president’s desk with a majority vote.

    FIND OUT HOW THE GOP WILL USE THE MOVE AGAINST DEMS

  • Emerging investment opportunities and risks to watch in 2022

    Given the volatile nature of 2021 and the uncertainty that lies ahead, 2022 is sure to be a new world for investing. That isn't necessarily a bad thing, as IBT contributor Mark S. McNally explains. From health care to blockchain, get his take on what 2022 holds for investments.

    SEE WHICH SECTORS ARE LIKELY TO HOLD OPPORTUNITIES
Markets
DJIA 35,897.64 -0.08%
S&P 500 4,668.67 -0.87%
Nasdaq Composite 15,180.43 -2.47%
Japan: Nikkei 225 28,888.53 -0.61%
UK: FTSE 100 7,260.61 1.25%
Crude Oil Futures 71.78 -0.83%
Gold Futures 1,800.10 0.11%
Yen 113.75 0.04%
Euro 1.13 0.02%
* As of market close
Strong winds kill at least five in the Midwest

Following last weekend's deadly tornadoes in the Southeast, Thursday was the Midwest's turn as strong winds killed at least five and caused major property damage. Officials say it's too early to tell if the storms' intensity are the result of climate change but one glance at the calendar tells you something is amiss.

SEE WHY WE ARE HAVING SPRING-LIKE STORMS IN DECEMBER

COVID cases could to top 1 million by 2021

The CDC painted a grim picture of what is to come for the U.S. in terms of COVID cases and deaths. As many as 1.3 million Americans could be infected before Christmas Day, up 55% from the 840,000 cases that have been recorded over the last week. The surge in cases and deaths is being fueled by the rise of the Omicron variant,which was detected in the U.S. on Dec. 1, and now it has already been reported in at least 36 states.

SEE WHY HEALTH OFFICIALS ARE WARNING ABOUT THE WINTER

Springsteen sells musical catalog to Sony

Bruce Springsteen is cashing in on his "Glory Days" to the tune of a half-billion dollars after selling his music rights to Sony. "The Boss" is the latest superstar singer to join a frenzy of catalog sales fueled by the pandemic. The sale consists of Springsteen's entire career musical catalog, spanning five decades and including his iconic album "Born in the USA." 

FIND OUT WHY SO MANY STARS ARE SELLING THEIR CATALOGS

Dancing star

In Bruce Springsteen's music video for "Dancing in the Dark," what future TV star stormed the concert stage and danced a jig with "The Boss"?

Thursday's answer: Before the Spider-Man movie series, actor Nicholas Hammond filled the role on TV's "The Amazing Spider-Man" in 1977.
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