Newsletter Dec 16, 2022

3 things you must know

Retail sales tumble in November as job market remains tight
Retail sales fell more than expected in November, but consumer spending remains supported by a tight labor market. The number of Americans filing for unemployment benefits fell by the most in five months last week. Retail sales saw the biggest drop in 11 months, likely due to sales surging in October as Americans did their holiday shopping early to take advantage of deep discounts. Still, weak sales suggest higher borrowing costs and the threat of an imminent recession are starting to impact household spending.
WHAT THE NEW DATA SAYS ABOUT RISK OF A RECESSION

Netflix leads stocks lower as investors react to Fed hike
Netflix stock plummeted Thursday along with the broader markets after a report showed retail sales deteriorating more quickly than forecast, raising recession concerns. Retail and food sales in November fell more than economists projected -- down 0.6% to $689.4 billion after rising 1.3% in October. The report stoked fears of a recession a day after the Fed raised interest rates 0.5%.
SEE THE OTHER STOCKS THAT TOOK BIG HITS THURSDAY

'Shark Tank' celeb O'Leary blames Binance for FTX collapse
Former FTX celebrity spokesperson and investor Kevin O'Leary blamed rival crypto exchange Binance for the collapse of FTX. Testifying before the Senate Committee on Banking, Housing, and Urban Affairs, the "Shark Tank" star said in a written statement that Chinese-owned Binance "put the other out of business -- intentionally" and is a "massive, unregulated monopoly now."
SEE SBF BLAME ALL BUT HIMSELF IN LEAKED TESTIMONY

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Markets

DJIA	33,202.22	-2.25%
S&P 500	3,895.75	-2.49%
Nasdaq Composite	10,810.53	-3.23%
Japan: Nikkei 225	28,051.70	-0.37%
UK: FTSE 100	7,426.17	-0.93%
Crude Oil Futures	76.25	0.18%
Gold Futures	1,786.70	-0.06%
Yen	137.66	-0.08%
Euro	1.06	0.11%
* As of market close

Free Covid test kits back amid winter surge

Free at-home COVID-19 tests are available again as the winter cold and flu season heats up. The Biden administration announced that households could get four rapid COVID-19 tests shipped to their home for free at covid.gov/tests after ending the free at-home test kit program in September after Congress decided it did not need additional funding. The White House remade the decision to reallocate funds to restart the program for a limited time as COVID cases began to rise in the winter.

FIND OUT HOW TO GET FREE COVID-19 TEST KITS SENT TO YOU

New JFK assassination documents released

A new trove of secret files related to the November 1963 assassination of President John F. Kennedy was released on Thursday, but the White House held back thousands of documents on the grounds of national security concerns. The National Archives said a total of 13,173 documents were made public in Thursday's release. President Joe Biden said in a memorandum that a "limited" number of documents would continue to be withheld at the request of unspecified "agencies."

WERE THERE ANY BOMBSHELLS IN THE FRESH DOCUMENTS?

Uber Eats offers food delivery by 'to-go bot'

If you're hungry for stone crab claws or a Cuban sandwich in Miami, your next delivery could be a real jaw-dropper. Uber Eats has started using self-driving robots to deliver orders in parts of Miami, with other cities in the works for 2023. The AI-powered, six-wheel robots feature multiple sensors and cameras that help them navigate sidewalks to their destinations. Restaurants use the robots by putting the food order inside a designated compartment that has a lock with a code to open it.

SEE HOW EX-GOOGLE ENGINEERS DESIGNED THE TO-GO BOT

A bot is born

What was the first working robot, when was it built, and what did it do?

Thursday's answer: Some sources name Minecraft the top-selling video game of all-time, but Tetris owns the title with over 500 million copies.

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