Newsletter Jan 18, 2024

Quick Six

Biden pushes for Ukraine aid; GOP demands border action
President Joe Biden hosted congressional leaders at the White House on Wednesday to push for fresh aid to Ukraine, with Republicans insisting they must first get major concessions on immigration policy. Washington's vital military assistance for Ukraine's fight against Russia has dried up as Republicans are blocking Biden's request for a huge national security package including $60 billion in aid for Ukraine, assistance for ally Israel, and money to reinforce the troubled US-Mexican border.
FIND OUT IF THE TWO SIDES CAN FIND COMMON GROUND

Businesses 'optimistic' about future interest rate cuts: Fed
US businesses say they are "optimistic" about the prospect of falling interest rates, even as economic conditions have remained largely unchanged in recent weeks, the Federal Reserve said. The Fed recently voted to keep interest rates at a 22-year high, while penciling in up to three interest rate cuts this year, citing progress made in tackling inflation. Businesses have sounded optimistic about the likelihood of lower rates in the months ahead.
SEE THE FACTORS POINTING TO LOWER INTEREST RATES

Retail sales accelerate in December to close out strong year
US retail sales accelerated more than anticipated in December, closing out a year marked by resilient consumption, government data showed on Wednesday. Sales picked up in the final month of 2023 by 0.6% to $709.9 billion, up from a 0.3% bump in November, said the Commerce Department in its latest report. For the full year of 2023, total sales were up 3.2% from 2022.
SEE HOW CONSUMER SPENDING FUELED RETAIL MARKET

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Markets

DJIA	37,266.67	-0.25%
S&P 500	4,739.21	-0.56%
Nasdaq Composite	14,855.62	-0.59%
Japan: Nikkei 225	35,477.75	-0.40%
UK: FTSE 100	7,446.29	-1.48%
Crude Oil Futures	72.81	0.34%
Gold Futures	2,010.10	0.18%
Yen	148.11	-0.03%
Euro	1.09	0.03%
* As of market close

Sexual assault accuser faces Trump in court

The woman who Donald Trump was found liable of sexually assaulting faced off with the ex-president Wednesday in a New York courtroom to say he subsequently ruined her reputation. E. Jean Carroll is seeking more than $10 million alleging that Trump defamed her in 2019 when she had just come out with her assault allegation, saying she "is not my type." Trump was in court for the second day as he seeks to use multiple legal cases against him to galvanize supporters ahead of the New Hampshire primary next week and his 2024 election campaign.

WHAT TRUMP AND HIS LEGAL TEAM HAD TO SAY ABOUT CASE

Apple again ordered to halt US watch sales

A federal appeals court on Wednesday ordered Apple to halt the US sale of its latest smartwatch models in a feud over patents with health company Masimo. The ban on certain smartwatch models will go into effect today as Apple is ordered to await the outcome of its appeal. The International Trade Commission decided in October to halt imports of the Apple Watch models over a patented technology for detecting blood-oxygen levels. Apple makes the majority of its watches overseas, predominantly in China, giving the ITC jurisdiction over the patent feud.

APPLE IS CONSIDERING REMOVAL OF THE TECH IN QUESTION

SCOTUS poised to rein in federal agencies

The conservative-leaning US Supreme Court on Wednesday appeared inclined to weaken the power of federal agencies, which regulate myriad issues affecting the everyday lives of Americans -- from consumer safety to air pollution. At the heart of the matter is a 1984 ruling in Chevron v. Natural Resources Defense Council, which said judges should defer to government agencies in determining a "reasonable" interpretation of the law if the language is ambiguous.

HOW A 40-YEAR-OLD CASE COULD UPEND US GOVERNMENT

Extra point

Which US Supreme Court Justice served the shortest term in history?

Wednesday's answer: After the Guinness Book of World Records for world's oldest dog was suspended, the title was returned to Bluey, an Australian cattle dog that died in 1939 at age 29 years and five months.

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