1. Stock futures gain after record Christmas Eve plunge
U.S. stock futures edged higher early Wednesday, struggling to rebound after heavy Christmas Eve losses. All three of the main U.S. indexes were up by about 0.6 percent before the bell. The Dow Jones Industrial Average was coming off a 2.9 percent plunge that broke the 1918 record for the worst Christmas Eve performance. The Standard & Poor's 500 index dropped by 2.7 percent in a shortened trading day before the Christmas holiday, and the Nasdaq lost 2.2 percent. U.S. stocks are on track to post their worst year since 2008 during the Great Recession, and their worst December since 1931, during the Great Depression. President Trump blames the market dive on the Federal Reserve's four interest rate hikes this year.
2. Amazon reports record holiday sales
Amazon on Wednesday reported record holiday-season sales, boosted by strong demand for its Echo Dot, Echo, and Fire TV Stick devices. The online retail giant said other strong sellers included Amazon's Kids Edition devices and toys, including the L.O.L. Surprise! Glam Glitter Series Doll with 7 Surprises, Nerf N-Strike Elite Strongarm Blaster, and LEGO Creator Mighty Dinosaurs Toy. Early data showed that holiday sales were strong all around. Total U.S. sales, excluding automobiles, rose by 5.1 percent from Nov. 1 to Dec. 24 compared to a year earlier, the biggest gain for U.S. retailers in six years, according to MasterCard SpendingPulse, which tracks online and in-store spending with all payment methods.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
MarketWatch The Wall Street Journal
3. Nissan's Kelly released after Japanese court approves bail
A Japanese court on Tuesday rejected prosecutors' efforts to keep Nissan executive Greg Kelly in detention over the alleged underreporting of pay to the carmaker's former chairman, Carlos Ghosn, clearing the way for Kelly to be released on $635,000 bail after 37 days in custody. Kelly left the Tokyo Detention House in a car and was taken directly to a hospital for treatment for a chronic neck problem. Kelly, who is American, was arrested along with Ghosn on Nov. 19. Both were charged with underreporting Ghosn's pay by $44 million in 2011 through 2015. Ghosn remains in detention.
4. Aquaman continues to dominate the box office on Christmas
Aquaman continued to lead the holiday box office through Christmas Eve, adding $11.2 million to its dominant weekend performance and bringing its global total above $500 million. The blockbuster's domestic total was expected to stand near $100 million once Christmas Day ticket sales are tallied. The DC superhero movie, starring Jason Momoa, easily beat out Mary Poppins Returns and Transformers prequel Bumblebee over the weekend in its debut. On Christmas Day, the box office champion ran into fresh competition from newcomers Vice and Holmes and Watson.
The Hollywood Reporter Deadline
5. GoFundME refunds donors for alleged hoax fundraising campaign
GoFundMe said Tuesday that it had reimbursed 14,000 people who contributed to a campaign billed as a fundraiser for a homeless veteran from Philadelphia who had given his last $20 to a New Jersey woman after she ran out of gas. The GoFundMe campaign raised more than $400,000 before it was exposed as a scam. Burlington County prosecutors say in a criminal complaint that Johnny Bobbitt conspired with Katelyn McClure and her then-boyfriend Mark D'Amico to make up the story as a means to raise the money, which was spent on luxury items and casino trips. Prosecutors started investigating last summer after Bobbitt sued saying he wasn't getting any of the money. GoFundMe spokesman Bobby Whithorne said the company has a "zero tolerance policy" for fraud.
-
Should you add your child to your credit card?The Explainer You can make them an authorized user on your account in order to help them build credit
-
Cracker Barrel crackup: How the culture wars are upending corporate brandingIn the Spotlight Is it 'woke' to leave nostalgia behind?
-
'It's hard to discern what it actually means'Instant Opinion Opinion, comment and editorials of the day
-
How China uses 'dark fleets' to circumvent trade sanctionsThe Explainer The fleets are used to smuggle goods like oil and fish
-
One year after mass protests, why are Kenyans taking to the streets again?today's big question More than 60 protesters died during demonstrations in 2024
-
What happens if tensions between India and Pakistan boil over?TODAY'S BIG QUESTION As the two nuclear-armed neighbors rattle their sabers in the wake of a terrorist attack on the contested Kashmir region, experts worry that the worst might be yet to come
-
Why Russia removed the Taliban's terrorist designationThe Explainer Russia had designated the Taliban as a terrorist group over 20 years ago
-
Inside the Israel-Turkey geopolitical dance across SyriaTHE EXPLAINER As Syria struggles in the wake of the Assad regime's collapse, its neighbors are carefully coordinating to avoid potential military confrontations
-
'Like a sound from hell': Serbia and sonic weaponsThe Explainer Half a million people sign petition alleging Serbian police used an illegal 'sound cannon' to disrupt anti-government protests
-
The arrest of the Philippines' former president leaves the country's drug war in disarrayIn the Spotlight Rodrigo Duterte was arrested by the ICC earlier this month
-
Ukrainian election: who could replace Zelenskyy?The Explainer Donald Trump's 'dictator' jibe raises pressure on Ukraine to the polls while the country is under martial law
