Wildfires expose California’s insurance crisis; Meta, Amazon ditch DEI; and IRS outlines tax season
Heritage economist EJ Antoni analyzes the December jobs report on ‘Making Money.’
Stocks tumbled after a stronger-than-expected jobs report, raising new headwinds for the Federal Reserve
-President-elect Trump lashed out at President Biden after an aggressive move on energy drilling
-More Fortune 500 companies are ditching DEI policies
-California wildfires exposed massive lapses in insurance and preparedness for national disasters
-Inside California’s broken insurance regulation
-The IRS outlines key dates for the 2025 tax season
STOCKS SINK: U.S. stocks ended sharply lower Friday with the Dow Jones Industrial Average falling close to 700 points…more on the markets here. Bitcoin also trended sharply lower…LIVE cryptocurrency prices here.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 41938.45 | -696.75 | -1.63% |
| SP500 | S&P 500 | 5827.04 | -91.21 | -1.54% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19161.627517 | -317.25 | -1.63% |
Investors didn’t like the stronger-than-expected December jobs report. Here’s why…continue reading here.
VIDEO: Why the jobs report is problematic for the Fed.
NOT SO FAST: President-elect Trump is promising to cancel President Biden’s fresh ban on drilling…continue reading here.
VIDEO: Trump talks about American energy independence.
DITCHING DEI: Facebook parent Meta is dialing back corporate policies promoting DEI, or diversity, equality and inclusion …continue reading here. Shortly thereafter, Amazon did something similar…continue reading here.
VIDEO: Big U.S. companies are rapidly reversing DEI.
CALIFORNIA WILDFIRE CRISIS
CALIFORNIA CRISIS: Thousands of residents lost everything in this week’s wildfires in and around the Palisades, and many are not insured. As it turns out, the state may be to blame for insurers dropping coverage…continue reading here.
VIDEO: Investor Kevin O’Leary slams California Gov. Newsom as wildfires rage.
DITCHING CALI: These insurers kissed California goodbye…continue reading here.
COSTLIEST CALI FIRE EVER: The California wildfires in January 2025 may go down as the most expensive in history…continue reading here.
INSURANCE STOCKS SINK
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALL | THE ALLSTATE CORP. | 181.02 | -10.79 | -5.63% |
| CB | CHUBB LTD. | 257.71 | -8.94 | -3.35% |
| TRV | THE TRAVELERS COS. INC. | 232.43 | -10.34 | -4.26% |
| AIG | AMERICAN INTERNATIONAL GROUP INC. | 70.50 | -0.92 | -1.29% |
| MCY | MERCURY GENERAL CORP. | 48.64 | -12.05 | -19.86% |
TAX SEASON 2025: The IRS announced key dates for the upcoming tax season…continue reading here.
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2025-01-11 00:19:02
