>>Ahead Of The Opening Bell
(New York, NY) -- The opening bell rings this morning after Wall Street closed mixed on Monday as tech shares pulled back. Apple, Micron and Nvidia were down as investors rotated into stocks like Caterpillar, JPMorgan and United Health. Big banks including Citigroup and Goldman Sachs will post results on Wednesday as fourth-quarter earnings season gets underway. At the closing bell, the Dow Jones Industrial Average gained 358 points to 42-297. The S&P 500 rose 9 points to 58-36. The Nasdaq fell 73 points to 19-088. Look for today to bring some insight into the state of inflation with the release of the producer price index. The consumer price index is due the next day.
>>Chinese TikTok Alternative RedNote Tops App Charts
(Undated) -- With TikTok's future in the U.S. in the hands of the Supreme Court, a Chinese app called RedNote is topping the charts. On Monday, RedNote was the top free-to-download app on the Apple App Store. The Shanghai-based Chinese-language social media app has been called "China's TikTok" by users, who can share videos, post pictures, make text posts and also shop. Justices heard arguments last week over an impending ban of TikTok. 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.
>>Southern California Edison Sued Over Wildfires
(Los Angeles, CA) -- Southern California Edison is being sued over claims its electrical equipment is responsible for starting one of the wildfires in the Los Angeles area. At least 24 people are dead after the fires broke out last Tuesday and over 150-thousand have been forced to evacuate. The lawsuit was filed by a group of homeowners, business owners, renters and others that had their property destroyed by the Eaton Fire in the Pasadena region. It says the fire is second most destructive in the history of the state and claims eyewitnesses saw a fire at the base of a transmission tower that's owned by Edison.
>>Report: Cleveland-Cliffs Makes Potential Bid For U.S. Steel
(New York, NY) -- Cleveland-Cliffs is reportedly involved in a potential bid for U.S. Steel. The news comes after the White House blocked Japan's Nippon Steel takeover deal earlier this month. According to CNBC, Cleveland Cliffs would purchase all of U.S. Steel for cash and then sell off the Big River Steel subsidiary to rival Nucor. Meanwhile, the Biden administration has delayed its enforcement of the order blocking the Nippon-U.S. Steel merger until mid-June after both companies filed a lawsuit.
>>Blue Origin Sets New Launch Date
(Cape Canaveral, FL) -- Blue Origin will give it another go, hoping to get a milestone mission off the ground from Florida's Space Coast. The private space company founded by Jeff Bezos scrubbed the inaugural launch of its New Glenn rocket from the Cape Canaveral Space Force Station early Monday morning. A new launch time is now scheduled for no earlier than Thursday. If all goes as planned, a three-hour launch window will open at 1am Eastern. 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.
