>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning after stocks closed sharply lower on Friday following the release of a much stronger-than-expected jobs report. Stocks plunged on inflation worries and concerns the Federal Reserve will hit the brakes on rate cuts this year. At the closing bell, the Dow Jones Industrial Average lost 696 points to 41-938. The S&P 500 fell 91 points to 58-27. The Nasdaq dropped 317 points to 19-161. This week will bring some insight into the state of inflation with the producer price index out tomorrow and the consumer price index the next day.
>>California Governor Warns Fires Could Be Costliest In U.S. History
(Los Angeles, CA) -- California Governor Gavin Newsom says the wildfires around Los Angeles could end up being the costliest disaster in U.S. history. Speaking on NBC's "Meet the Press," Newsom said the fires, which have already burned more than 40-thousand acres, would be the worst in terms of the cost, scale and scope. This, as more high winds are in the forecast that could spread the blazes further. More than 12-thousand structures have been destroyed, according to fire officials.
>>Newsom Announces Tax Extension Due To Wildfires
(Los Angeles, CA) -- Governor Gavin Newsom is announcing that Californians impacted by the Southern California wildfires will have some more time to file their 2024 taxes. On Saturday, the governor extended the deadline to October 15th of this year. This aligns with the extension recently granted by the federal government.
>>Supreme Court Hears TikTok Case As January 19th Approaches
(Washington, DC) -- TikTok's future in the U.S. is in the hands of the Supreme Court after justices heard arguments last week over an impending ban of the massively popular video platform. Under a law signed last spring, ByteDance, TikTok's Chinese parent company, must sell the platform by January 19th or be banned in the United States over national security concerns. TikTok has been trying to make the case that the law violates its First Amendment rights. Unless the High Court acts to block the law, TikTok's time may soon be up.
>>X To Begin Labeling Parody Accounts
(San Francisco, CA) -- X will begin labeling parody and satire accounts. The new labels will be on both the profiles and the posts of those accounts, according to a statement from the social media platform's Safety Team. The move hopes to "increase transparency" on X. Accounts can now place the label on themselves in the settings page, but the company said they'll release further details about when labeling will become required for accounts that fit the description.
>>Blue Origin Scrubs Launch
(Cape Canaveral, FL) -- Blue Origin's hopes of getting a milestone mission off the ground overnight from Florida's Space Coast have been dashed. The private space company founded by Jeff Bezos scrubbed the inaugural launch of its New Glenn rocket from the Cape Canaveral Space Force Station. Blue Origin says the goal remains the same - to safely get the rocket into orbit before trying to land its booster in the Atlantic on the company's drone ship. No word yet on another launch attempt.
>>Disney, Fox, Warner Bros. Discovery Call Off Sports Streaming Service
(New York, NY) -- Disney, Fox, and Warner Brothers Discovery are calling off their plans to launch their sports streaming service, Venu. The companies said in a joint statement "it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels." They first announced Venu in February, saying it was meant to combine all three companies' live sports assets. It was supposed to launch at the start of the NFL season in September, but ended up delayed. That was in part due to a legal challenge from the internet TV bundler Fubo, which argued the platform would by anticompetitive.
>>Detroit Auto Show Opens
(Detroit, MI) -- The 2025 Detroit Auto Show is now open to the public after returning to its traditional January timeframe. The event features all major automakers showing off new products and innovations. Detroit Auto Show co-executive director Sam Klement said there was "definitely an energy" for the opening day over the weekend and said it was great to see that.
