What Biden’s political evolution means for progressives in 2023

Just In | The Hill 

Earlier this month, a president who voted for the Defense of Marriage Act in 1996 as a senator signed the bill to officially repeal it and enshrine marriage equality into law.  

President Biden has always fashioned himself as a centrist, even when seeking the Democratic Party’s presidential nomination, which makes his evolution on particular issues a fascinating weather vane.  

After finally hearing progressives’ calls on everything from climate change and student debt to a filibuster carve-out this year, where might Biden advance next in 2023? 

“What’s been interesting is to watch his evolution,” said Rep. Pramila Jayapal (D-Wash.) in a wide-ranging interview with The Hill this week. It’s been “really good to see him absorb information, take information in, and move.”   

Immigration, climate, judicial nominees, overtime pay: the list is lengthy. And wondering what Biden will tackle next has progressives on the edge of their seats. 

Many who preferred other candidates in the 2020 presidential primary were skeptical that lifelong-moderate Biden would push for their priorities, having seen him spend decades as a centrist Senate homebody. They saw more liberal contenders such as Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) advocate on behalf of progressive causes, and some were pessimistic about Biden’s desire to work with their flank. 

But as he ticked off major successes, from the American Rescue Plan to the Inflation Reduction Act, many warmed to the idea that Biden could indeed become something akin to the FDR-style leader he now aspires to be. The more he accomplished, the more the left wing offered their trust. And progressives started drafting longer wish lists to try their luck in the new year.  

“We were very careful in putting together our executive action list to work very closely with the administration,” Jayapal said. “I would say 90 percent of what was on our list was stuff that they also were very interested in.” 

Jayapal, who was just elected to another term as chairwoman of the House Progressive Caucus, was pleased about the White House’s receptiveness to progressives’ agenda. When legislation stalled, frequently by moderate Sens. Joe Manchin (D-W.Va.) and now-Independent Kyrsten Sinema (Ariz.) and a small group of members in the House, she said administration officials were often enthusiastic to work on executive actions as workarounds to the narrow congressional majority. 

That executive approach is expected to continue and, many hope, even amplify in 2023, with Republicans soon to have a slight advantage in the lower chamber, and as Democrats find ways to get more through the Senate. 

If recent history is a guide, that collaboration — anchored by Biden’s desire to be fluid and flexible on issues he resisted in the past — has been successful. 

The midterms went better than many Democrats anticipated, with the left claiming credit for pushing Biden leftward. One of progressives’ biggest achievements has been an executive order to cancel tens of millions in loan debt for students. While that action is now halted and expected to be heard by the Supreme Court amid opposition from GOP state legislatures, progressives see it as proof of what’s possible. 

They also saw Biden move in a positive direction when he announced support of a carve-out to protect voting and abortion rights without the 60-vote threshold, evolving on his prior firmness around the Senate’s legislative filibuster and satisfying many in the party who had begged him to take that stance.  

“The president has had a pretty damn good ending for 2022,” said Douglas Wilson, a Democratic strategist based in North Carolina. “He really has.” 

“If the White House can be strategic about it, that’s the key, it gives the president the opportunity to put legislation out there that will entice these moderate Republicans to vote with him,” he said. “And progressives, I know they’re not going to want to hear this, are going to have to give him a slight bit of wiggle room. He deserves it.” 

Heading into January, progressives aren’t naive about the challenges — from the GOP-controlled House, courts, and even Biden’s own moderate leanings that creep up from time to time — that may halt their more ambitious plans. But they aren’t completely jaded either.  

They want to see traction on overtime pay and sick leave for rail workers, a debate that was tabled relatively quickly after Biden signed a Senate-passed bill that averted a massive strike by the nation’s transportation workers. Many are hopeful that the president’s commitment to unions will inspire him to address the issue in more detail in the coming year, beyond what was already passed with bipartisan support. 

Progressives also see room for executive antitrust action that would help prevent monopolies and boost consumer protections, an area where liberals like Warren and Jayapal have spent considerable focus working with Biden allies. “That’s been an area that I still hope we can get some work done,” said Jayapal. “The administration hasn’t been the holdup here.”  

Some progressives see certain moderates with outsized influence as creating additional delays for the White House to take actions into their own hands in the executive branch. Biden’s willingness to appease Manchin in particular for much of his first term created a point of tension among liberals who wanted him to be more forceful in bypassing Manchin’s demands.  

“There’s a backlog of bold executive actions that were on pause as Joe Manchin obstructed the Democratic economic agenda,” said Adam Green, co-founder of the Progressive Change Campaign Committee. “The White House went out of their way not to spook him.” 

But some are hopeful that new opportunities may emerge from Manchin’s diluted influence within a new 51-seat majority, and with a slate of viable executive actions ready to be reconsidered.

Another issue where Biden has evolved is criminal justice. The man who authored the early mid-90s crime bill has undoubtedly moved to the left on the topic, adopting stances that are more in line with Americans’ current views while still maintaining some distance from the small faction of activists who want him to be more extreme. 

Biden never wanted to “defund” the police, but many progressives also concede that that slogan is not practical. Instead, he lurched to the left by pledging to decriminalize marijuana and promised to “eliminate” the country’s use of a federal death penalty — an area where advocates believe there is more work to be done. 

With an eye towards the new year, progressives want him to take actions that can reiterate his commitment to a fairer criminal justice system.  

“He could come up with a package that addresses crime again. Calling Republicans’ bluff on that,” said Wilson, the Democratic operative. “But also addressing the issues that were in the George Floyd Policing Act. The administration did what they could with the executive order … but I think now that he has a few more votes in the Senate, he could try to add a component that deals with rising crime. As long as it does not negatively affect people of color.” 

“The key is not to say police reform, but improving police relationships with the community,” Wilson said. 

On climate, another big focus, many in the party would like to see Biden go farther than what he has already delivered, pointing to the electoral impact that a progressive policy push can have at the polls.  

“There’s no such thing as doing too much on climate,” said Deirdre Shelly, campaigns director for the Sunrise Movement. “He still has a lot of work to do to secure his legacy.” 

Climate activists and progressive lawmakers want to see Biden declare a national climate emergency and use the Defense Production Act to move in the direction of renewable energy sources — an area that has the potential to transition away from the Manchin-style coal politics that have dominated the Democratic Party for decades.  

While there’s an appetite for it in some corners of the party, some wonder if Biden has the desire to change so drastically, particularly ahead of what’s likely to be another brutal presidential cycle in 2024. 

Nonetheless, they plan to make the case loudly that it’s worth trying.  

“Look at Biden’s poll numbers from the spring to now,” said Shelly. “Young people were not excited to vote months ago, and after he passed a climate bill, a gun bill and canceled student loans, they improved significantly — and led to nearly record-breaking turnout,” she said. “That’s no coincidence.” 

​Administration, Biden administration, Congressional Progressive Caucus, Pramila Jayapal, President Biden, Progressives Read More 

[Sport] Cristiano Ronaldo joins Saudi Arabian side Al Nassr until 2025

Cristiano Ronaldo and a shirt
Cristiano Ronaldo became the first man to score at five different World Cups in Qatar in 2022

Cristiano Ronaldo has joined Saudi Arabian side Al Nassr on a deal that runs until 2025.

The Portugal captain is a free agent after leaving Manchester United following a controversial interview in which he criticised the club.

Ronaldo will reportedly receive the biggest football salary in historyexternal-link at more than £177m per year.

The 37-year-old says he is “eager to experience a new football league in a different country”.

Ronaldo added: “I am fortunate that I have won everything I set out to win in European football and feel now that this is the right moment to share my experience in Asia.”

Al Nassr – nine-time Saudi Pro League champions – described the signing as “history in the making”.

The club said it would “inspire our league, nation and future generations, boys and girls to be the best version of themselves”.

In the summer, Ronaldo turned down a £305m deal to join another Saudi team – Al Hilal – because he was happy at United.

Earlier in November, the striker spoke out in an interview with Piers Morgan for TalkTV in which he said he felt “betrayed” by United, did not respect manager Erik ten Hag and was being forced out of the club.

Ronaldo, who scored 145 goals in 346 appearances for United, left Juventus to rejoin the Old Trafford club in August 2021 – 11 years after he departed to join Real Madrid.

He had just over seven months remaining on his £500,000-a-week contract with United but his immediate exit was “mutually agreed”.

A day after he left the club, he was banned for two domestic matches for knocking a phone out of an Everton fan’s hand after United’s defeat at Goodison Park in April.

He will serve the ban at domestic level with any new club – in England or abroad – although it does not apply at continental club level, such as the Champions League.

Ronaldo recently returned from playing for Portugal at the World Cup in Qatar, where he made history by becoming the first man to score at five different Fifa World Cups with his strike in his side’s opening win against Ghana.

Date Club joined Fee
12 August 2003 Manchester United £12.24m
6 July 2009 Real Madrid £80m
10 July 2018 Juventus £99.2m
31 August 2021 Manchester United £12.8m

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Toyota Dealers Are Charging Up To $30k Over MSRP For GR Corolla

Carscoops 

The Toyota GR Corolla is undeniably one of the best hot hatches and maybe one of the best cars the brand makes right now. It’s fun, it’s fast, and it’s functional too. That combination has a few dealers doing everything they can to squeeze extra cash out of Toyota’s customers’ pockets, sometimes to the tune of $30k over sticker.

Toyota gave the base GR Corolla an MSRP of just $36,995. Even the hopped-up Circuit Edition is set at a very reasonable $42,900, while the super-rare Morizo Edition has an MSRP of $49,900. Despite those price tags set by the automaker, we’ve found three dealers charging enough that one could buy a second brand-new car for the markup alone.

First up is Lone Star Toyota of Lewisville. According to a user over on Markups.org, the dealer sent him the sheet seen below with a grand total price on a base GR Corolla of $59,993. To get to that figure the dealer has the audacity to charge $15,000 in pure markup in addition to a $1,995 “Lone Star Appearance Package”. If I were tricked into buying this car the last thing I’d want to do is advertise for the shady dealer that raked me over the coals in the process.

Read: Ridiculous Markups On Toyota GR Corolla Begin With 50% Over MSRP

Next up is Roseville Toyota which has a $19,995 “dealer added mark up” on its base GR Corolla. Due to options, its MRSP is $40,168 (window sticker below). The markup represents a 49.7 % increase in price. Is that the kind of excellent customer service that Toyota is hoping its dealers provide to young enthusiastic buyers? Interestingly, Toyota Marin, not far from Roseville Toyota, seems to have a GR Corolla priced at $40,469.

Finally, North Park Toyota of San Antonio is pretty sure it can get away with an asking price of $70,576 on a base GR Corolla with an MSRP of $40,576. That is $30,000 and 73.9% more than Toyota says that the buyer should pay for the car. Again, these aren’t the super special and limited Morizo Edition cars and they’re not even the mid-grade Circuit Edition either.

Ultimately, there’s little we can do aside from exposing these greedy and brand-damaging markups. Study after study finds that customers are less likely to return to a brand after a dealer has charged over MSRP.

That shouldn’t come as a shock when automakers advertise one price and then dealers ignore that and add thousands to the final price. Until people stop paying these outrageous fees or automakers find a way to crack down on dealers, the practice will likely continue.

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Cristiano Ronaldo makes big-money move to Saudi Arabian club

LONDON (AP) — Cristiano Ronaldo completed a lucrative move to Saudi Arabian club Al Nassr on Friday in a deal that is a landmark moment for Middle Eastern soccer but will see one of Europe’s biggest stars disappear from the sport’s elite stage.

Al Nassr posted a picture on social media of the five-time Ballon d’Or holding up the team’s jersey after Ronaldo signed a deal until June 2025, with the club hailing the move as “history in the making.”

“This is a signing that will not only inspire our club to achieve even greater success but inspire our league, our nation and future generations, boys and girls to be the best version of themselves,” the club wrote.

It also gives the 37-year-old Ronaldo a massive payday in what could be the final contract of his career. Media reports have claimed the Portugal star could be earning up to $200 million a year from the deal, which would make him the highest-paid soccer player in history.

Ronaldo said in a statement that he was “eager to experience a new football league in a different country.”

“I am fortunate that I have won everything I set out to win in European football and feel now that this is the right moment to share my experience in Asia,” the forward added.

While the signing is a massive boost for Middle Eastern soccer, it will also fuel the debate about Saudi Arabia using so-called “sportswashing” to boost the country’s image internationally. Saudi Arabia’s sovereign wealth fund owns Premier League team Newcastle, and the country is considering a bid to host the 2030 World Cup.

Ronaldo had been a free agent after his contract was terminated by Manchester United following an explosive TV interview in which he criticized manager Erik ten Hag and the club’s owners after having been repeatedly benched and even temporarily suspended by the club.

He is also coming off a disappointing World Cup where he was benched in the knockout rounds and left the field in tears after Portugal lost in the quarterfinals to Morocco.

And after a storied career that saw him win the Champions League with both United and Real Madrid, along with league and cup titles in England, Spain and Italy, he will now seemingly see out the last years of his career far away from the spotlight of top European soccer.

While Saudi Arabia earned its biggest international soccer win ever at the World Cup in Qatar last month when it beat eventual champion Argentina in its first group-stage game, the domestic league has few other stars and is not watched by a major international audience.

___

More AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP_Sports


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These are the states raising minimum wage in 2023 — see the full list and adjusted rates

Business Insider 

Ieisha Franceis, who works at a Freddy’s Frozen Custard and Steakburgers in North Carolina, raises her fist in solidarity for a $15 minimum wage.

A total of 23 states are hiking minimum wages this year, according to the Economic Policy Institute. 
The changes will impact 8.4 million workers, and especially women and people of color.
See the full list of states and the adjusted rates, below.

A new year means higher minimum wages in 23 states, leading to increased pay for an estimated 8.4 million US workers, according to the Economic Policy Institute

The rate hikes are the result of a variety of factors, including inflation, state legislation, and ballot measures. They will benefit women and workers of color most, as noted by Insider’s Juliana Kaplan.

As a result of the boosts, two states will reach the $15-an-hour minimum for the first time, a salary floor that activist groups like Fight For $15 have pushed for heavily in recent years.

With the help of activist efforts and legislators, states and cities have been working independently to increase rates as the federal minimum wage stagnates at $7.25 — an amount that hasn’t risen in 13 years. 

While many of the adjusted rates will be effective starting Jan. 1, others come into effect later, according to a report from the National Employment Law Project.

Here’s the full list of states increasing minimum wage and the new rates coming in 2023, according to NELP data:

Alaska: $10.85, up from $10.34Arizona: $13.85, up from $12.80California: $15.50, up from $14 for small employers and $15 for large employers Colorado: $13.65, up from $12.56Delaware: $11.75 (with legislation to reach $15 by 2025), up from $10.50Illinois: $13 (with legislation to reach $15 by 2025), up from $12 Maine: $13.80, up from $12.75Maryland: $13.25 for large employers and $12.80 for small employers (with legislation to reach $15 by 2025), up from $12.50 and $12.20, respectivelyMassachusetts: $15, up from $14.25Michigan: $10.10 (with pending legislation to reach $12.05 by 2030), up from $9.87Minnesota: $10.59 for large employers and $8.63 for small employers, up from $10.33 and $8.42, respectivelyMissouri: $12, up from $11.15Montana: $9.95 (based on 2006 legislation), up from $9.20 Nebraska: $10.50 (with legislation to reach $15 by 2026), up from $9New Jersey: $14 for standard workers (with legislation to reach $15 by 2024-2027), up from $13New Mexico: $12, up from $11.50New York: $15 for New York City and suburbs/$14.20 upstate, up from $13.20 upstate Ohio: $10.10 (based on 2006 amendment), up from $9.30Rhode Island: $13 (with legislation to reach $15 by 2025), up from $12.25South Dakota: $10.80, up from $9.95Vermont: $13.18, up from $12.55Virginia: $12 (with legislation to reach $15 by 2026), up from $11Washington: $15.74, up from $14.49

 

 

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The full lyrics to 'Auld Lang Syne' so you don't mumble your way through it



CNN
 — 

As the clock strikes midnight on New Year’s Eve, voices all over the world will resurrect the centuries-old tradition of singing “Auld Lang Syne” to say goodbye to the passing year.

“Auld Lang Syne” – which roughly translates to “times gone by”– was written by Scottish poet Robert Burns in 1788 and is thought to have been based on a Scottish folk song.

Despite efforts to belt the tune every New Year’s Eve, few people seem to actually know the words.

Don’t get caught pretending to mouth the words at New Year’s Eve this year. Luckily for you, we’ve put the lyrics below so you can serenade yourself and all your friends into the New Year.

Should auld acquaintance be forgot,

And never brought to mind?

Should auld acquaintance be forgot,

And auld lang syne.

CHORUS

For auld lang syne, my jo,

For auld lang syne.

We’ll tak a cup o’ kindness yet,

For auld lang syne.

And surely ye’ll be your pint-stowp!

And surely I’ll be mine!

And we’ll tak a cup o’ kindness yet,

For auld lang syne.

REPEAT CHORUS

We twa hae run about the braes

And pu’d the gowans fine

But we’ve wander’d mony a weary foot

Sin auld lang syne.

REPEAT CHORUS

We twa hae paidl’d i’ the burn

Frae mornin’ sun till dine.

But seas between us braid hae roar’d

Sin auld lang syne.

REPEAT CHORUS

And there’s a hand, my trusty fiere!

And gie’s a hand o’ thine!

And we’ll tak a right guid willy waught,

For auld lang syne.

REPEAT CHORUS

Should old acquaintance be forgot

And never brought to mind?

Should old acquaintance be forgot,

And long, long ago.

REPEAT CHORUS

And for long, long ago, my dear

For long, long ago.

We’ll take a cup of kindness yet

For long, long ago.

And surely youll buy your pint-jug!

And surely I’ll buy mine!

And we’ll take a cup of kindness yet

For long, long ago.

REPEAT CHORUS

We two have run about the hills

And pulled the daisies fine;

But we’ve wandered manys the weary foot

Since long, long ago.

REPEAT CHORUS

We two have paddled in the stream,

From morning sun till dine;

But seas between us broad have roared

Since long, long ago.

REPEAT CHORUS

And there’s a hand, my trusty friend!

And give us a hand of yours!

And we’ll take a deep draught of good-will

For long, long ago.

REPEAT CHORUS

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Ginni Thomas told the January 6 committee it was ‘laughable’ for anyone who knew Clarence Thomas to believe she’d be able to ‘influence his jurisprudence’

Business Insider 

Associate Supreme Court Justice Clarence Thomas sits with his wife and conservative activist Virginia Thomas while he waits to speak at the Heritage Foundation on October 21, 2021.

Ginni Thomas affirmed that she did not speak with Clarence Thomas about 2020 election challenges.
On Friday, the conservative activist’s September testimony with the January 6 panel was released.
Thomas during her interview was unable to point to any specific instances of voter fraud in 2020.

Ginni Thomas, the wife of Supreme Court Associate Justice Clarence Thomas, told the January 6 committee that it was “laughable” for anyone who knew her husband to believe that she could “influence” his judicial philosophy.

The conservative activist — who in September gave a voluntary interview to the House panel probing the January 6, 2021, riot at the United States Capitol — told the members that Clarence Thomas is “stubborn” and “uninterested in politics.”

“I am certain I never spoke with him about any of the legal challenges to the 2020 election, as I was not involved in those challenges in any way,” Ginni Thomas told the panel during her interview, noting that she had an “ironclad” household rule on not discussing pending court cases with Clarence Thomas. “Let me also add, it’s laughable for anyone who knows my husband to think I could influence his jurisprudence. The man is independent and stubborn, with strong character traits of independence and integrity.”

Ginni Thomas, who in the immediate aftermath of the 2020 presidential election exchanged texts with then-White House chief of staff Mark Meadows where she pushed him to challenge now-President Joe Biden’s victory over then-President Donald Trump, said during her January 6 interview that she regretted sending the messages to the high-ranking Trump administration official.

“I regret all of these texts,” she told the committee during her closed-door testimony, which was released to the public on Friday. “It was an emotional time, and people were scared that there had been enough fraud happening that they weren’t going to get to the bottom of it. So that’s how I would look at that one.”

Ginni Thomas during her January 6 committee interview admitted that while she had concerns about voter fraud in the 2020 election, she couldn’t pinpoint specific cases of such malfeasance.

“I can’t say that I was familiar at the time with any specific evidence,” she told the members. “I was just hearing it from news reports and friends on the ground, grassroots activists who were inside of various polling places that found things suspicious.”

Rep. Liz Cheney of Wyoming, the Republican vice chair of the January 6 panel, then asked Ginni Thomas to confirm her lack of verifiable information about voting irregularities in 2020.

“Right. I know. I wasn’t very deep; I admit it,” she told Cheney.

“I was hearing it, Congresswoman, from a lot of people I trust. So trusted people were telling me there were problems, and I just thought there should be people at the state level investigating those before it was too late,” she added.

After the 2020 election, Thomas also emailed a range of GOP legislators in Arizona and Wisconsin — two key swing states where Biden narrowly outpaced Trump — where she also pushed them to help overturn Biden’s victory.

Ginni Thomas, well-known in GOP circles for decades, has only in the past few years become a larger figure in the public sphere, driven by her ties to prominent conservatives as her husband has taken a prominent role as a leader of the now-dominant conservative bloc on the Supreme Court.

With a 6-3 conservative majority on the high court, Justice Thomas’ judicial philosophy has taken on incredible significance as the conservative bloc is set to reshape some of the most pertinent issues in American society for the foreseeable future.

Read the original article on Business Insider

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S&P 500 closes out dismal year with worst loss since 2008

Wall Street capped a quiet day of trading with more losses Friday, as it closed the book on the worst year for the S&P 500 since 2008.

The benchmark index finished with a loss of 19.4% for 2022, or 18.1%, including dividends. It’s just its third annual decline since the financial crisis 14 years ago and a painful reversal for investors after the S&P 500 notched a gain of nearly 27% in 2021. All told, the index lost $8.2 trillion in value, according to S&P Dow Jones Indices.

The Nasdaq composite, with a heavy component of technology stocks, racked up an even bigger loss of 33.1%.

The Dow Jones Industrial Average, meanwhile, posted an 8.8% loss for 2022.

Stocks struggled all year as inflation put increasing pressure on consumers and raised concerns about economies slipping into recession. Central banks raised interest rates to fight high prices. The Federal Reserve’s aggressive rate hikes remain a major focus for investors as the central bank walks a thin line between raising rates enough to cool inflation, but not so much that they stall the U.S. economy into a recession.

The Fed’s key lending rate stood at a range of 0% to 0.25% at the beginning of 2022 and will close the year at a range of 4.25% to 4.5% after seven increases. The U.S. central bank forecasts that will reach a range of 5% to 5.25% by the end of 2023. Its forecast doesn’t call for a rate cut before 2024.

Rising interest rates prompted investors to sell the high-priced shares of technology giants such as Apple and Microsoft as well as other companies that flourished as the economy recovered from the pandemic. Amazon and Netflix lost roughly 50% of their market value. Tesla and Meta Platforms, the parent company of Facebook, each dropped more than 60%, their biggest-ever annual declines.

Russia’s invasion of Ukraine worsened inflationary pressure earlier in the year by making oil, gas and food commodity prices even more volatile amid existing supply chain issues. Oil closed Friday around $80, about $5 higher than where it started the year. But in between oil jumped above $120, helping energy stocks post the only gain among the 11 sectors in the S&P 500, up 59%.

China spent most of the year imposing strict COVID-19 policies ,which crimped production for raw materials and goods, but is now in the process of removing travel and other restrictions. It’s uncertain at this point what impact China’s reopening will have on the global economy.

The Fed’s battle against inflation, though, will likely remain the overarching concern on Wall Street in 2023, according to analysts. Investors will continue searching for a better sense of whether inflation is easing fast enough to take pressure off of consumers and the Fed.

If inflation continues to show signs of easing, and the Fed reins in its rate-hiking campaign, that could pave the way for a rebound for stocks in 2023, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“The Fed has been the overhang on this market, really since November of last year, so if the Fed pauses and we don’t have a major recession, we think that sets us up for a rally,” he said.

There was scant corporate or economic news for Wall Street to review Friday. That, plus the holiday shortened week, set the stage for mostly light trading.

The S&P 500 fell 9.78 points, or 0.3%, to finish at 3,839.50. The index posted a 5.9% loss for the month of December.

The Dow dropped 73.55 points, or 0.2%, to close at 33,147.25. The Nasdaq slipped 11.61 points, or 0.1%, to 10,466.48.

Tesla rose 1.1%, as it continued to stabilize after steep losses earlier in the week. The electric vehicle maker’s stock plummeted 65% in 2022, erasing about $700 billion of market value.

Southwest Airlines rose 0.9% as its operations returned to relative normalcy following massive cancellations over the holiday period. The stock still ended down 6.7% for the week.

Small company stocks also fell Friday. The Russell 2000 shed 5 points, or 0.3%, to close at 1,761.25.

Bond yields mostly rose. The yield on the 10-Year Treasury, which influences mortgage rates, rose to 3.88% from 3.82% late Thursday. Although bonds typically fair well when stocks slump, 2022 turned out to be one of the worst years for the bond market in history, thanks to the Fed’s rapid rate increases and inflation.

Several big updates on the employment market are on tap for the first week of 2023. It has been a particularly strong area of the economy and has helped create a bulwark against a recession. That has made the Fed’s job more difficult, though, because strong employment and wages mean it may have to remain aggressive to keep fighting inflation. That, in turn, raises the risk of slowing the economy too much and bringing on a recession.

The Fed will release minutes from its latest policy meeting on Wednesday, potentially giving investors more insight into its next moves.

The government will also release its November report on job openings Wednesday. That will be followed by a weekly update on unemployment on Thursday. The closely-watched monthly employment report is due Friday.

Wall Street is also waiting on the latest round of corporate earnings reports, which will start flowing in around the middle of January. Companies have been warning investors that inflation will likely crimp their profits and revenue in 2023. That’s after spending most of 2022 raising prices on everything from food to clothing in an effort to offset inflation, though many companies went further and actually padded their profit margins.

Companies in the S&P 500 are expected to broadly report a 3.5% drop in earnings during the fourth quarter, according to FactSet. Analysts expect earnings to then remain roughly flat through the first half of 2023.

U.S. stock markets will be closed Monday in observance of the New Year’s Day holiday.

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Authorities tracked the Idaho student killings suspect as he drove cross-country to Pennsylvania, sources say



CNN
 — 

Authorities carefully tracked the man charged in the killings of four Idaho college students as he drove across the country around Christmas and continued surveilling him for several days before finally arresting him Friday, sources tell CNN.

Bryan Christopher Kohberger, 28, was arrested in his home state of Pennsylvania and charged with four counts of murder in the first degree, as well as felony burglary in connection with the stabbing deaths of four University of Idaho students in November, according to Latah County Prosecutor Bill Thompson.

Still, investigators have not publicly confirmed the suspect’s motive or whether he knew the victims. The murder weapon has also not been located, Moscow Police Chief James Fry said Friday.

In the nearly seven weeks since the students were found stabbed to death in an off-campus home, investigators have conducted more than 300 interviews and scoured approximately 20,000 tips in their search for the suspect. News of the killings – and the long stretch of time without a suspect or significant developments – have rattled the University of Idaho community and the surrounding town of Moscow, which had not seen a murder in seven years.

Investigators honed in on Kohberger as the suspect through DNA evidence and by confirming his ownership of a white Hyundai Elantra seen near the crime scene, according to two law enforcement sources briefed on the investigation.

Kohberger, who authorities say lived just minutes from the scene of the killings, is a PhD student in Washington State University’s Department of Criminal Justice and Criminology, the school confirmed.

The home where four University of Idaho students were killed in the early morning hours of November 13.

He drove cross-country in a white Hyundai Elantra and arrived at his parents’ house in Pennsylvania around Christmas, according to a law enforcement source. Authorities were tracking him as he drove and were also surveilling his parents’ house, the source said.

An FBI surveillance team tracked him for four days before his arrest while law enforcement worked with prosecutors to develop enough probable cause to obtain a warrant, the two law enforcement sources said.

Genetic genealogy techniques were used to connect Kohberger to unidentified DNA evidence, another source with knowledge of the case tells CNN. The DNA was run through a public database to find potential family member matches, and subsequent investigative work by law enforcement led to him as the suspect, the source said.

Kohberger was arraigned Friday morning in Pennsylvania and is being held without bail, records show.

Kohberger intends to waive his extradition hearing to expedite his transport to Idaho, Monroe County Chief Public Defender Jason LaBar said in a statement to CNN on Saturday.

“Mr. Kohberger is eager to be exonerated of these charges and looks forward to resolving these matters as promptly as possible,” LaBar said.

Even with a suspect charged, law enforcement’s work is far from over, prosecutors said.

Bryan Kohberger

“This is not the end of this investigation. In fact, this is a new beginning,” Thompson said Friday night.

Thompson urged people to continue submitting tips, asking anyone with information about the suspect “to come forward, call the tip line, report anything you know about him to help the investigators.”

Since the killings of the four students – Kaylee Goncalves, 21; Madison Mogen, 21; Xana Kernodle, 20; and Ethan Chapin, 20 some community members have grown frustrated as investigators have yet to offer a thorough narrative of how the night unfolded. Authorities have released limited details, including the victims’ activities leading up to the attacks and people they have ruled out as suspects.

Fry told reporters Friday state law limits what information authorities can release before Kohberger makes an initial appearance in Idaho court. The probable cause affidavit – which details the factual basis of Kohberger’s charges – is sealed until the suspect is physically in Latah County, Idaho and has been served with the Idaho arrest warrant, Thompson said.

Kohberger is a resident of Pullman, Washington, a city just about nine miles from the site of the killings, authorities said. His apartment and office on the Washington State University’s Pullman campus were searched by law enforcement Friday morning, the university confirmed in a statement.

In June 2022, he finished graduate studies at DeSales University, where he also was an undergraduate, according to a statement on the school’s website. He also got an associate degree from Northampton Community College in 2018, the college confirmed to CNN.

In a Reddit post removed after Kohberger’s arrest was announced, a student investigator named Bryan Kohberger who was associated with a DeSales University study sought participation in a research project “to understand how emotions and psychological traits influence decision-making when committing a crime.”

“In particular, this study seeks to understand the story behind your most recent criminal offense, with an emphasis on your thoughts and feelings throughout your experience,” the post said.

CNN reached one of the principal investigators of the study, a professor at DeSales University, but they declined to comment on the matter. The university has not responded to requests for comment.

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