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Headline News for Wednesday December 25th 2024
Wednesday Headline news summary: December 25, 2024News Related to the Economy and Financial Affairs
A Decrease in Inflation:
- The US witnessed a slight decrease in the inflation rate.
- The inflation rate was reported to be 4.2% in November.
- However, it decreased to 3.9 % in December, signifying that inflation is slowly being controlled.
The Stock Market Surge:
- Strong holiday consumer spending boosted investor confidence, increasing the stock market.
- The Ordinary Share Index 500 (S&P 500) and the Dow Jones Industrial Average were reported to have experienced increases of 1.3% and 1.1%, respectively.
Retail Sales Growth:
- Last year, the retail industry growth stood at 5.4%, which can be attributed to a rise in online spending and greater demand for expensive goods.
New Developments in Housing and Real Estate.
Mortgage Interest Rate Steady:
- The national average mortgage rate remained close to 6.75% for a 30-year fixed-up mortgage.
- It is expected to remain in the range during the joyous season.
Housing Prices and Inventory:
- Housing prices rose by 4.1 percent compared to the past year.
- However, the housing inventory surpassed critical limitations, decreasing by 18% compared to last December.
Increase in Financial Instability:
- The number of foreclosure applications in the latest quarter surged by 13%.
- Revealing signs of financial instability since housing loan interests and inflation remained highest.
Politics News
Biden’s endorsement drops to below expected: Economic factors do not support satisfaction relative to President Joe Biden’s administration’s handling of inflation. Consequently, his endorsement fell by 34%.
Congress Approves Housing Rental Assistance Bill
A bipartisan approach has resulted in a construction elements amendment with tax credits that will help increase the supply of affordable housing by the end of 2025.
International Affairs
US and China Relations Breakthrough:
- President Biden and China’s Xi Jinping had a talk focusing on trade and climate issues.
- But Taiwan issues remain unresolved.
Ukraine Conflict Updates
America’s support for Ukraine is still strong, and $45 billion in other military and humanitarian support is anticipated for 2025.
Climate and Environment
Severe Winter Storms:
- A severe winter storm affects the Midwest and Northeast regions.
- Leading to the scrapping of over 30,000 flights and dangerous driving conditions.
New FEMA Flood Maps:
- New maps have been altered, increasing the region’s high-risk flood area and shifting the concern to homeowners insurance costs, which could be millions.
Technology and Industry
AI Changing Workplace Dynamics:
- The penetration of Artificial Intelligence into workplaces has doubled in the US over the last 12 months.
- It is particularly used in the logistics, customer service, and financial services industries.
EV Market Growth:
- Electric vehicle registrations increased by 20% over the previous year to federal tax deductions.
- Growing market activity helped sustain the momentum.
Social and Cultural Highlights
Record Charitable Giving:
- During this festive period alone, Americans gave a record-breaking seven billion dollars.
- This resulted in major donations to food banks, relief aid, and education.
Holiday Movie Box Office:
- Avatar 3 is the year’s highest-grossing film, leading the box office with over 1 billion dollars in revenue.
Sports
NFL Playoff Picture:
- While the Kansas City Chiefs have already qualified for the playoffs, the Philadelphia Eagles and many other team races are getting heated in both conferences.
- This outline, dated December 25, 2024, captures the critical moments in US contemporary history in economic, political, and cultural spheres.
Major news outlets and more detailed reports are excellent sources for further information on this story.
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2 Replies
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What is the latest update on Kamala Harris? It seems she has disappeared off the face of the Earth after her election defeat drunken speech. What is in store with Kamala Harris? Harris has proven to the public her financial irresponsibilities by spending 1.5 billion dollars on her ill-fated campaign and owing over 20 million dollars. There have been talks of Kamala Harris eyeing the governor’s seat in California. California cannot afford to take a chance on someone incompetent like Kamala Harris to manage the largest state in the union. Please provide us with a detailed update on Kamala Harris and Minnesota Governor Tim Walz.
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Since the 2024 elections, Kamala Harris has been careful not to stay in the public eye as she lost to Donald Trump. Recently, however, some recordings have surfaced showcasing her comments during the election, such as when she told Teamsters President Sean O’Brien: “I’ll win with you or without you,” which many regard as overly self-assured.
Moreover, political analyst Van Jones remarked on Harris’s campaign: “The strategy she presented is old and does not appeal to American voters,” such comments gave the Democrats “the leisure” of not having to be effective in playing politics.
Finally, regarding the financial issues, no verified facts could support the argument that Harris’s campaign had a debt of more than twenty million dollars. The campaign finance reports have not confirmed such allegations.
There is a lot of conversation in the political circuit about Harris’s earnings in the California gubernatorial election, but what needs to be addressed is the rumors that surround her defeat in the most recent election. Experts have suggested that the visual damage her campaign garnered alongside Harris’s recent electoral defeat can be a ticket to influencing her political future. Others suggest that Harris’s lack of marketing outside of the waves of social media in her campaign strategy has compounded her problems of getting elected to politics for any future event.
After his election defeat, Harris’s running mate in the presidential election, Tim Walz, stepped down from his position as governor of Minnesota and returned to using his position. The election outcome shocked him, but Tim has promised to put all his efforts into bringing positive change to Minnesota.
Through his efforts, Walz has now set out to redefine politics in Minnesota since the breakup of the Democrat trio, which was present for an uninterrupted duration.
He is set to continue his anti-fraud campaign and shed light on the DFL issues in the state, among other efforts, to further help the people of Minnesota.
Some reports about tensions developing between Governor Walz and Lieutenant Governor Peggy Flanagan. It is still unknown how public relations will handle this issue.
Harris and Walz have clarified that they are still interested in exploring political life. However, yesterday’s elections did not go their way.
Amid the changes in the political landscape, Harris opted to put on a calm facade while bluntly opposing criticism from any direction during her campaign. At the same time, Walz synergized with Minnesota residents to steer a stable government.
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