Good Afternoon. It's Wednesday, January 12th, and you're listening to Ausum's Afternoon News Briefing, where we round up the top latest articles that everyone is talking about. Here are today headlines from the top publications:
The Financial Times reports that the U.S. consumer price growth rose at the fastest pace in almost four decades in December, stoking the Federal Reserve's fears about the threat of elevated inflation and its consequences for the economic recovery.
The consumer price index increased at a 7% year-on-year pace last month, a step up from the 6.8%rate registered in November and the largest jump since June 1982.
Despite the faster annual pace, month-over-month price gains moderated to 0.5% between November and December, down from 0.8% in the previous period.
And amid the inflation, The New York Times reports that housing costs swell, deterring home buyers and pushing up rent prices more than 0.4% in December.
Business Insider cites COVID-19 experts, who say Omicron is peaking in the U.S., based on data from poop samples. Nationally, "the level of the virus in the wastewater is at a record high," one scientist said. That means more people in the U.S. have COVID-19 right now than ever before. The good news is that our poop data also suggests that the Omicron wave may be at its peak right about now.
Grocery Stores Continue To Experience Low Supply Of Goods reports The Daily Wire. USA Today reports that the problems are being reported around the country, ranging from meat and produce to other items like cereal. Not only are essential goods more difficult to obtain, but they are also pricier.
On to another topic that at the headlines of most publications today - voting rights. Reuters reports President Joe Biden made make a personal plea to U.S. Senate Democrats to unite to change the chamber's rules to pass voting-rights reform, a day after the Senate's top Republican launched a blistering attack on the initiative. Axios reports that Schumer finds a loophole to advance the elections reform package. On the other hand, Washington Examiner quotes Senate Minority Leader Mitch McConnell, who delivered a blistering critique today of President Joe Biden's speech, calling the president's remarks "profoundly unpresidential."
Washington Post reports that A high-stakes meeting between NATO and Russian officials yielded no new agreements on Wednesday. Western diplomats, however, voiced hope the Kremlin might eventually accept compromise proposals designed to avert a possible invasion of Ukraine.
According to The Wall Street Journal, Apple's Metaverse Prospects Produce Real Optimism for Investors. The company hasn't disclosed its plan for the virtual world, but many are betting the company will introduce extended-reality devices.
Lastly, the U.S. stocks close higher today as investors parse the inflation data. The S&P 500 gained 0.3%, while the Dow Jones Industrial Average added 0.1%, or about 40 points. The tech-heavy Nasdaq Composite Index climbed 0.4%.
That's all for today. Be sure to download the Ausum app to get the full Ausum experience. Catch you next time for the Ausum News Briefing every weekday, morning, and afternoon.