Newsletter Dec 20, 2024

Quick Six

House kills Trump-backed spending bill; shutdown looms
President-elect Donald Trump's meddling in a bipartisan spending bill appears to have backfired after the House -- including dozens of Republicans -- voted Thursday against his proposal to keep the federal government open. After Trump tried to kill the previously negotiated bill Wednesday with strong opposition from him and DOGE appointees Elon Musk and Vivak Ramaswamy, he pitched a new plan Thursday. However, a coalition of angry Democrats and 38 jilted Republicans killed the bill. Now the clock is ticking to strike a deal or face a government shutdown at midnight Friday.
IS IT TOO LATE TO AVOID A GOVERNMENT SHUTDOWN?

Amazon workers across the US strike ahead of hectic holiday
Thousands of workers at Amazon facilities across the US went on strike Thursday, the Teamsters Union said, halting work at the height of the busy holiday gift-giving season. The union, which says it represents some 10,000 workers at the massive online retailer's facilities around the country, called the action the "largest strike against Amazon in US history." Workers will picket at facilities in New York, Atlanta, southern California, San Francisco and Illinois, with other Amazon Teamsters "prepared to join them."
WHAT IMPACT WILL STRIKE HAVE ON HOLIDAY DELIVERY?

US meatpacking industry on edge over Trump deportations
The US meatpacking industry is on edge as it braces for potential fallout from President-elect Donald Trump's proposed mass deportations. While the industry supported Trump financially during his reelection bid, it is now concerned about how the loss of foreign-born labor could disrupt operations. The meatpacking sector is heavily reliant on immigrant labor, with some estimates suggesting that 30%-50% of the workforce may be undocumented.
SEE HOW MASS DEPORTATIONS WOULD IMPACT INDUSTRY

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Markets

DJIA	42,342.24	0.04%
S&P 500	5,867.08	-0.09%
Nasdaq Composite	19,372.77	-0.10%
Japan: Nikkei 225	38,851.47	0.10%
UK: FTSE 100	8,105.32	-1.14%
Crude Oil Futures	69.85	-1.03%
Gold Futures	2,608.60	0.02%
Yen	157.48	0.03%
Euro	1.04	0.00%
* As of market close

'President Musk' already playing role in DC

Elon Musk's role in wrecking a bipartisan Congress deal to avert a US government shutdown has underlined his extraordinary influence over the Republican Party and President-elect Donald Trump. In addition to his usual title of the world's richest man, Democrats are now describing him as "President Musk," who has been tapped by Trump to run the new Department of Government Efficiency (DOGE) agency. Musk is making an impact even before Trump takes office. Democrats have painted the tech billionaire as unstable and a MAGA megalomaniac.

SEE MUSK'S STRONG COMMENTS ABOUT THE SPENDING BILL

Mangione extradited to NY to face charges

The man accused of gunning down an insurance executive on the streets of Manhattan appeared in front of a judge Thursday to face federal charges including murder. The hearing for Luigi Mangione in a New York courtroom came after he was extradited from Pennsylvania, where he was arrested last week after a days-long manhunt, and two weeks after the killing generated widespread public anger with the US health care system. Federal prosecutors announced charges against Mangione in the shooting of UnitedHealthcare CEO Brian Thompson.

WHY THE LIST OF CHARGES INCLUDED AN 'ACT OF TERRORISM'

US life expectancy surges after pandemic

Death rates dropped and life expectancy rose to the highest levels since the COVID-19 pandemic, the Centers for Disease Control and Prevention said in a report released this month. It found that life expectancy at birth rose to 78.4 years in 2023, nearly a full year more than the life expectancy of 77.5 years in 2022, the CDC said. For males, it increased to 75.8 in 2023 from 74.8 in 2022. Females' life expectancy also rose, increasing to 81.1 in 2023 from 80.2 in 2022.

SEE THE TOLL COVID TOOK ON AVERAGE AMERICAN'S HEALTH

Extra point

Which US states have the highest and lowest life expectancy rates?

Thursday's answer: DoorDash commands 62.7% of the US food delivery market, followed by UberEats (25%) and Grubhub (6.2%).

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