Stock futures are flat as investors digest Fed minutes, look ahead to labor data

US Top News and Analysis 

Traders work on the floor of the New York Stock Exchange (NYSE) on November 11, 2022 in New York City. 
Spencer Platt | Getty Images

Stock futures are flat Wednesday night as investors looked beyond the hawkishness of the Federal Reserve’s meeting minutes released in the afternoon toward labor data coming later this week.

Futures tied to the Dow Jones Industrial Average lost 36 points, trading down around 0.1%. S&P 500 and Nasdaq 100 futures both also traded down 0.1%.

The moves follow a choppy trading session. Markets had been down early in the day on the back of a mixed bag of economic data, but stock rose into the closing bell. The Dow ended the day up 133 points, or 0.4%, while the S&P 500 and Nasdaq added 0.8% and 0.7%, respectively.

November’s Job Openings and Labor Turnover, or JOLTS, report showed the job market remained strong, bolstering concerns that the Fed could continue raising interest rates as long as there remained a hot market for workers. But the ISM manufacturing index showed the sector was contracting after 30 months of expansion, which investors saw as a positive indicator that previous rate hikes had the intended impact of cooling the economy.

Stocks were mainly trading up in the afternoon. But gave up some of their gains following the release of minutes from the Fed’s December meeting, which showed the central bank remained committed to higher interest rates for “some time.”

Investors have “wounds that are still fresh” following 2022, which brought the worst year for the stock market since 2008, said Keith Buchanan, a portfolio manager at GLOBALT Investments. He said investors are attempting to balance what each new piece of economic data or Fed commentary can indicate with broader concerns about the future.

“Every day that goes by and we get a data point that’s moving in the right direction, it’s positive,” Buchanan said. “But it’s also quickly followed up with apprehension on how sensitive and delicate this moment is.”

Investors will watch Thursday for more data on jobs, the trade deficit and business activity. Fed speakers Raphael Bostic and James Bullard are also both slated to speak.

On Friday, investors will review data on nonfarm payrolls, the unemployment rate and hourly wages. Since the report could have a big impact on the Fed’s next moves, it has the potential to impact the market. Investors don’t want to see big gains in wage growth.

T-Mobile shares rise following preliminary customer data

Shares of telecommunications giant T-Mobile added 1.5% in after-hours trading on the back of preliminary fourth-quarter customer data.

The company added 314,000 postpaid net accounts in the fourth quarter, which is 1,000 below the same quarter a year ago and 80,000 below the third quarter of 2022.

But it added 1.82 million total postpaid customers in the quarter, beating the 1.63 million seen in the third quarter and 1.75 in the same quarter a year ago. The total number of postpaid phones was also up quarter over quarter, adding 927,000 compared with the third quarter’s 854,000 and prior year’s 844,000.

Postpaid phone churn was also up slightly quarter over quarter by 0.04%, coming in at 0.92%. The prior year’s fourth quarter posted a 1.1% churn rate.

Industry analysts use postpaid customer data to draw conclusions about a wireless company’s broader health because they pay monthly bills and tend to be more reliable customers.

Meanwhile, T-Mobile added 524,000 high-speed internet customers, which is 54,000 fewer than the prior quarter. In the fourth quarter a year ago, T-Mobile brought in just 224,000.

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— Alex Harring

Expect ‘stubbornly high’ inflation and a mild recession in 2023, Cresset predicts

Despite many economic indicators showing at least some signs of the economy cooling, Cresset Capital Management said to prepare for inflation to stick around this year.

“We expect inflation pressure to remain stubbornly high through 2023,” the firm said in its 2023 outlook.

The firm said U.S. inflation should be able to reach 3.5% relatively easily, but hitting the 2% threshold will be challenging. It also said to expect global central banks to pivot and accept inflation at a rate that’s higher than preferred, adding that inflation between 3% and 4% could be tolerated for a period.

Cresset also said it expects a mild recession in the middle of 2023 as interest rate hikes have their full effects on the economy. It said a “soft landing” scenario, which is when a recession would be avoided, is unlikely.

— Alex Harring

Luminar pops after management says company met 2022 milestones

Luminar, a maker of equipment that harnesses solar energy for electric vehicles, jumped more than 4% after the company announced new technology and said it met 2022 performance goals at a trade show.

At the Consumer Electronics Show taking place in Las Vegas this week, the company said it signed new series production deals for multiple vehicle models with automakers in December. Those deals exceeded targets, said company leadership, who added that all four 2022 milestones Luminar set for itself were met by the end of the year.

Luminar also hosted the North American debut of consumers vehicles from Volvo Cars and SAIC’s Rising Auto that used the company’s light detection and ranging products.

The company also said it acquired Civil Maps, a company focused on mapping for electric vehicles. And management said the company was launching a new three-dimensional mapping software in high definition.

Luminar stock hit a 52-week low in Wednesday trading.

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— Alex Harring

Stock futures open down

Stock futures opened in the red Wednesday evening.

Dow futures shed 32 points at open, or 0.1%. S&P 500 and Nasdaq 100 futures each lost 0.1% as well.

— Alex Harring

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Jill Biden has ‘small lesion’ above right eye, doctor says, will be removed

Latest & Breaking News on Fox News 

First Lady Jill Biden has a “small lesion” above her right eye that was found during a routine appointment, according to the physician to the president.

Dr. Kevin O’Connor, physician to the president, said in a Wednesday evening letter that the lesion was found during a routine skin cancer screening.

O’Connor said that the lesion will be removed on Jan. 11, and the tissue will be examined.

“During a routine skin cancer screening, a small lesion was found above the First Lady’s right eye. In an abundance of caution, doctors have recommended that it be removed,” O’Connor said.

BIDEN’S VISIT TO KENTUCKY BRIDGE HIGHLIGHTS INFRASTRUCTURE PUSH

“On Wednesday, January 11th at Walter Reed National Military Medical Center, the First Lady will undergo a common outpatient procedure known as Mohs surgery to remove and definitively examine the tissue. We will offer an update after the procedure is completed and we have more information,” he added.

 

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Cori Bush’s tweet attacking Byron Donalds as a ‘white supremacy’ prop dubbed ‘racist’ and ‘pathetic’

Latest & Breaking News on Fox News 

“Squad” member Rep-elect Cori Bush, D-Mo., was called out as a “racist” for calling Republican Rep-elect Byron Donalds, Fla., a “prop” after GOP lawmakers nominated him to be Speaker of the House vote on Wednesday.

The latest votes for House Speaker included Donalds’ name as well as Democrat Leader Hakeem Jeffries, both being the first two Black candidates nominated for top leadership of both parties.

However, Bush denied that Donalds’ nomination was “historic,” insisting that Donalds as a Republican perpetuates “white supremacy.”

“[For what it’s worth], [Donalds] is not a historic candidate for Speaker. He is a prop,” Bush tweeted. “Despite being Black, he supports a policy agenda intent on upholding and perpetuating white supremacy. His name being in the mix is not progress—it’s pathetic.”

BYRON DONALDS ADDRESSES HOUSE SPEAKER NOMINATION: REPUBLICAN VOTERS ARE ‘NOT HAPPY’ WITH PARTY LEADERSHIP 

Donalds responded to Bush’s tweet, saying that no one asked for her opinion. 

[For what it’s worth], nobody asked @CoriBush her opinion on the matter. Before you judge my agenda, let’s have a debate over the policies and the outcomes. Until then, don’t be a crab in a barrel!,” Donalds tweeted. 

Bush’s tweet received intense backlash as an example of “racism” for considering Donalds as a prop for having conservative views.

“This is racism,” commentator Chad Felix Greene tweeted.

Washington Examiner columnist Tim Carney wrote, “Reminder: When a Democrat pretends something is about race they simply mean it’s about party. A Democratic politician calling someone racist should never ever again carry any weight with honest observers.”

“Guessing @mkraju won’t be strapping on the trainers and chasing down every Democrat in the halls to get their thoughts on this one,” The Spectator contributing editor Stephen Miller joked.

Club for Growth senior analyst Andrew Follett commented, “This just in… Cori Bush is a massive racist who thinks she gets to control how other people vote because of their skin color. That’s pathetic.”

“How dare the uppity black man not be a communist,” X Strategies senior digital analyst Greg Price tweeted.

“This is racist. Pure and simple. Regardless of what you think about the Speaker vote, reducing Byron Donalds, a Black man, to nothing but a “prop” because he’s a Republican is absolutely gross and racist,” Canary CEO Dan Eberhart wrote.

CONSERVATIVE CIVIL WAR RAGES ON TWITTER AS MCCARTHY FAILS TO WIN SPEAKER VOTE 

As a lawmaker, Bush has fought against what she describes as White supremacy, which includes celebrating the Fourth of July.

“When they say that the 4th of July is about American freedom, remember this: the freedom they’re referring to is for White people. This land is stolen land and Black people still aren’t free,” she tweeted in July 2021

More recently, Bush appeared to accuse her Republican colleagues of pushing “White supremacy” during a House Oversight and Reform Committee in December.

“Thank you, madam chair, for convening this important hearing, and let me say to the witnesses, thank you for your testimony. Thank you for staying, and sorry you have to listen to the White supremacy raise its ugly head, you know, throughout this hearing,” Bush said.

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Bush has also taken heat for her advocacy to “defund the police,” after being caught spending over $500,000 on private security for herself. 

 

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How To Make Time for Actual Self Care When You’re a New Parent

Well+Good 

It’s hardly uncommon for New Year’s resolutions to center self care. Think: resolving to lower your stress levels, pencil me-time into your schedule, or get outside once each day. But while all of such goals are worthy and warranted, being able to actually practice them is often a different story—particularly for new parents who may feel time-strapped to care for their child or children, much less themselves. And yet, paradoxically, that’s one reason why it’s so important for new parents to actively carve out time for self care. Experts say doing so stands to make you better equipped mentally and emotionally to care for a child.

Framing self care in this way can help you see it more clearly for what it is: a necessary and supportive element of daily life, rather than a luxury reserved for people with extra time or resources. “While I think we now understand, on a logical level, that self care isn’t selfish, we have a lifetime of messaging from culture, society, and often our families of origin that told us that self care should come secondary to the needs of our children,” says therapist and parent Kaitlin Soule, LMFT, author of A Little Less of a Hot Mess: The Modern Mom’s Guide to Growth and Evolution. “It takes time for the truth to travel from our heads to our hearts.”

There are also the countless mental and logistical factors of new parenthood that can draw your attention away from self care (despite even the best of intentions to practice it). “Your thoughts are likely occupied with making sure your baby survives, and every waking—and sleeping—hour is filled with feeding, burping, comforting, changing, and cleaning your newborn,” says therapist, children’s book author, and parent Christina Furnival, LPCC. The process can quickly become all-consuming, she adds.

“It can take some time to get grounding around who you are within and outside of your parental role.” —Kaitlin Soule, LMFT, therapist

The onset of parental responsibilities can also contribute to a deemphasis on your pre-parent identity, including interests and passion points. “When your child is born, you are also born anew and different,” says Furnival, of the steep transition to parenthood. And caring for yourself can fall even further by the wayside while you’re in the midst of identity limbo. “It can take some time to get grounding around who you are within and outside of your parental role and, from there, to figure out how to care for yourself with less time and more responsibility, too,” says Soule.

To that end, carving out the time for self care requires first understanding what actually constitutes effective self care for you, as both a person and a new parent, and then collaborating with those in your sphere to make practicing it possible. Below, mental-health practitioners with kids of their own share their best advice for doing just that.

4 ways new parents can make time for effective self care, according to therapists who have children

1. Expand your personal definition of self care

It’s an act of self care, in and of itself, to let go of any strict definition for what self care should or needs to be. “Rigid rules and routines don’t tend to serve new parents well in a season full of sleep deprivation and intense change,” says Soule.

If the things that come to mind when you initially picture “self care” aren’t things you actually want to do, then they certainly don’t need to be part of your personal practice. “When we no longer buy into the notion that self care is just about bubble baths, wine nights with girlfriends, or walks around the block, we’re free to take a deeper look at what it is we actually need to take care of ourselves,” says Soule.

Doing that means asking yourself the deceivingly simple but often skipped question of what makes you feel grounded, satisfied, or at peace, says therapist and parent Dayna Kurtz, LMSW. “The answer could include the same activities as before you had a child, different ones, or a combination of both.” For example, it might be something like taking a yoga class or going for a walk, but it could also be having someone else take over the laundry or being able to listen to a podcast episode start to finish, without interruption, she adds.

There are no wrong answers here—other than “nothing,” that is. And if you’re struggling to come up with something, consider using the question above as a writing prompt rather than just asking yourself in your head, adds Kurtz: “Writing can stimulate a different part of the brain and may offer access to answers of which you were not fully aware.”

Once you land on one or two things you actually look forward to doing for yourself, you’ll be far more motivated to add them to your calendar and make a point of doing them in just the same way you’d knock out any other parental to-do.

2. Find community with other parents who get it

Becoming a parent can be isolating because it distinguishes you from both who you were pre-parenthood and the non-parent people in your world. (Not to mention the literal isolation of safely existing with a newborn in these quasi-pandemic times.) In this frame of mind, former self-care practices may not carry the same soothing benefits they once did.

Connecting virtually or IRL with other new parents who can relate to your new reality—through a mommy-and-me group or similar recurring activity—can alleviate feelings of loneliness and allow you to “feel a sense of community with other parents in the thick of it,” says Furnival.

Even if you have your baby in tow, this type of socializing can also double as self care by reminding you that you’re not, in fact, alone, and by introducing you to a network of people on whom you may be able to lean for support in the future. This type of commitment also makes you accountable to others, whether it’s through a formal class or informal gathering, so you may feel more compelled to stick to it than with solo forms of self care.

3. Delegate early and often

The simple truth of combining parenting with self care is that one thing often has to give a little for the other to take. In other words, it’s not just okay, but necessary to delegate some of your parenting responsibilities to a partner, or other willing family member or friend in order to create time for yourself.

“It’s not uncommon for parents, especially first-time parents, to feel that they need to be able to handle everything, but you’re not supposed to handle it all on your own.” —Christina Furnival, therapist

“It’s not uncommon for parents, especially first-time parents, to feel that they need to be able to handle everything, but you’re not supposed to handle it all on your own,” says Furnival. After all, they don’t say, “It takes a village” for nothing.

Accepting offers of help from loved ones isn’t weak; it’s a responsible decision for your own health. And if you feel as though you’re on a parenting island, it’s essential to start the conversation about what kind of support you need from those in your sphere. “It can be hard to have these kinds of conversations with your partner or support system, but when you frame [their support] as an opportunity to better yourself and increase your own capacity for care and connection, people are likely to get on board,” says Soule.

Specifically, you can outline to a partner how they can best help you (for example, planning set times when you will get a shower, a break, or a nap, or when they will take on certain household duties), and you can arrange for understanding family or friends to visit, bring over meals, or take care of an errand, suggests Furnival. If you’re part of a community of new parents (per above), you can also look to them for support, offering to care for a fellow parent’s child on one night in exchange for them doing the same for your child on another. Remember: The more you’re able to delegate in a way that feels right to you, the more time you get back to care for yourself.

4. Tap a mental-health professional with expertise in postpartum care

Though it might feel like something you don’t have time to do, if you can financially afford it, seeking the support of a postpartum doula or a therapist or coach with expertise working with new parents can be worthwhile. Doing so can help you treat self care as something important enough to warrant a regular meeting on your calendar (because it is).

“Therapy can be a designated and reliable time and space each week to sort through many of the challenges inherent in new parenting,” says Kurtz. “In my practice, for example, sessions are sometimes the only time during the week when my clients can put the focus solely on themselves and their own needs.” That’s valuable, in and of itself. But of course, the benefits of an expert’s guidance extend beyond the time you’re devoting to yourself. A practitioner in this space can help you figure out “how to cope with the often mixed and complex feelings that come with being a parent and how to better share the parenting load,” says Soule.

If you aren’t able to hire outside support, Soule suggests seeking the support or advice of loved ones or friends in your life who have older kids, and who have stood before in your shoes. Hearing the ways they managed to create time for themselves while being a new parent can inspire similar or different ideas for how you might do the same.

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