Newsletter Jan 10, 2022

Tragedy struck in the Bronx on Sunday when a raging fire ripped through a high-rise apartment. New York City Mayor Eric Adams called it historic.
3 things you must know

  • Tragedy in the Bronx: High-rise blaze claims at least 19 lives

    At least 19 people died, including nine children, and dozens were injured when a fire tore through a high-rise apartment building in the Bronx borough of New York City on Sunday. ​​Victims were found in the stairwells on every floor, many suffering from cardiac arrest and smoke inhalation. Rescue efforts continued Sunday night in what Mayor Eric Adams called "one of the worst fires in our history.".

    SEE WHAT CAUSED THE BLAZE AND HOW IT WAS STOPPED

  • Inflation nullifying purchasing power despite income gains

    A tight labor market has created some unprecedented increases in pay for American workers, but many are seeing those raises wiped out by runaway inflation. Average hourly earnings for all employees rose sharply in 2021, but so did the costs of food, gas and housing.

    SEE WHAT THE LATEST FIGURES SAY ABOUT BUYING POWER

  • PayPal confirms its interest in launching its own stablecoin

    The company that broke ground as a payment app is now looking to venture into the world of cryptocurrency. PayPal is reportedly considering launching its own stablecoin, which are used to connect cryptocurrencies and government-issued currencies together. 

    SEE HOW A PAYPAL STABLECOIN COULD BOLSTER CRYPTO
Markets
DJIA 36,231.66 -0.01%
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Nasdaq Composite 14,935.90 -0.96%
Japan: Nikkei 225 28,478.56 -0.03%
UK: FTSE 100 7,485.28 0.47%
Crude Oil Futures 78.78 -0.15%
Gold Futures 1,795.00 -0.13%
Yen 115.63 0.09%
Euro 1.14 -0.10%
* As of market close
NASA successfully launches Webb Telescope

The most powerful space telescope ever built completed a tricky two-week-long deployment phase over the weekend, unfolding its final golden mirror panel, as it readies to study every phase of cosmic history. Engineering teams in the James Webb Space Telescope's control room cheered as confirmation came back that its final wing was deployed.

SEE HOW THE WEBB TELESCOPE MAY SOLVE SPACE MYSTERIES

China, Russia invasions would hit Wall Street

China and Russia could change the world order in 2022 by invading Taiwan and Ukraine, respectively, not only destabilizing governments in the regions but also sending shock waves across the global financial community. Such actions would impact Wall Street in different ways.

SEE HOW EACH POTENTIAL INVASION WOULD IMPACT THE US

Disney tops Sony in 2021 box office earnings

Disney found itself on top of the box office earnings in 2021, pulling in $1.17 billion despite the continuing challenges of the pandemic. The Mouse managed to capture a 25% market share at the box office to edge rival Sony ($1.05 billion). Still, total box office earnings were down again. 

SEE HOW THE 2021 NUMBERS COMPARE TO PREVIOUS YEARS

Mouse trap

Name the title and year of Disney's first full-length film to hit the box office.

Friday's answer: The New York Jets, fulfilling the prediction by brash QB Joe Namath, were 18-point underdogs when they defeated the Baltimore Colts 16-7 in Super Bowl III -- still the biggest upset in Super Bowl history.
What's ahead?

The U.S. and Russia opened a week of high-level talks Sunday in Geneva about the soaring tensions over Ukraine. See what's at stake this week.

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