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It was a rough year to look for a job...

Load your dishwashers now. Tomorrow is National Milk Day, and you don’t want to be caught drinking straight from the carton again.

Sam Klebanov, Matty Merritt, Dave Lozo, Abby Rubenstein

MARKETS

Nasdaq

23,671.35

S&P

6,966.28

Dow

49,504.07

10-Year

4.171%

Bitcoin

$90,585.66

D.R. Horton

$157.28

Data is provided by

*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean.

  • Markets: While the rest of us were muddling through being back at work, stocks kicked off 2026 on a high note worthy of Ariana Grande, with all three major averages pulling off a winning week. The S&P 500 and the Dow clinched new records yesterday, as investors digested a December jobs report that confirmed the Fed is unlikely to cut interest rates this month (more on that below).
  • Stock spotlight: Homebuilders like D.R. Horton rose on the news that President Trump is directing Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds. Mortgage rates dropped yesterday to their lowest level in almost three years, according to CNBC.
 

ECONOMY

Job seeker

miniseries/Getty Images

US employers have been adding jobs with the enthusiasm of someone hopping on a call with their manager at 4pm on a Friday. The economy added just 50,000 jobs last month, according to the data released yesterday by the Bureau of Labor Statistics.

The first full jobs report since the government shutdown last fall showed that December’s jobs creation was significantly lower than the 73,000 jobs that Dow Jones analysts predicted, completing the picture of an anemic hiring year. The US added an average of 49,000 jobs a month in 2025, compared to 168,000 in 2024—making 2025 the worst year for job creation outside of a recession since 2003.

It helped to wear scrubs

Hiring was concentrated in a handful of industries:

  • Without the 700,000 healthcare and social assistance jobs added last year, the total private sector employment gain would’ve been a paltry 20,000 jobs.
  • Manufacturing jobs declined by 8,000 in December, marking the eighth month of declines, while business and professional services lost a total of 97,000 jobs last year.
  • A slowdown in hiring at the federal government and mass layoffs left it with 277,000 fewer employees than it had last January.

On the bright side…employers largely avoided mass layoffs, and December’s unemployment rate ticked down to 4.4% from 4.5% the prior month. Analysts think that sets the Fed up to keep interest rates steady at its meeting this month. Meanwhile, the Atlanta Fed estimates the Q4 economic growth at a robust 5.1%, as businesses and shoppers continued to spend.

Why fewer offer letters then? Employers said they hired fewer people as they faced economic uncertainty and waited to see what the efficiency gains from AI would be. According to the latest data, worker productivity is growing, which heralds potential wage gains but also means employers might get away with hiring fewer workers. In Q3, the share of the economy consisting of worker salaries and benefits dropped to its lowest level since the government began keeping those records in 1947.—SK

Presented By Hiya

WORLD

Tour de headlines

Chip Somodevilla/Getty Images

Trump pushes oil execs to invest $100 billion in Venezuela. President Trump predicted that such a deal would come together quickly while meeting with 20 executives from US oil companies at the White House yesterday. The president is trying to get them to return to Venezuela following the arrest of its president by the US. The country’s oil infrastructure requires expensive upgrades, and Trump had floated the $100 billion figure before the meeting—but industry insiders told CNN that companies may be reluctant to shell out the necessary funds due to the current low price of oil. And during the meeting, Exxon’s CEO called Venezuela “uninvestable” in its present state. Earlier in the day, President Trump said on Truth Social that he had canceled a “previously expected second Wave of Attacks” on Venezuela because the US and Venezuela are “working well together,” in part on rebuilding the country’s oil infrastructure. Meanwhile, the US intercepted a fifth oil tanker to continue its blockade.

Grok’s image generation feature limited on X after outcry over sexualized images. Following international backlash from users and regulators over the designed-to-be-politically-incorrect chatbot from Elon Musk’s xAI creating sexualized images of women and children for users, the company restricted Grok’s ability to generate images by request through social posts to paying subscribers. But that hardly shuts down the feature, which both paying and nonpaying X members could still use to create explicit images yesterday via the Grok tab or through an independent Grok app.

Meta goes nuclear to power data centers. The Facebook parent has inked deals with TerraPower, Oklo, and Vistra to obtain nuclear energy to power its Prometheus AI data center, clinching what the Associated Press says is enough power to provide electricity to 5 million homes. The data center cluster is being built in Ohio. Meta said the deals will provide access to up to 6.6 gigawatts of new and existing energy by 2035. The company didn’t reveal financial details of the deals. Nuclear power, once shunned as too risky, has become an attractive option for tech companies in need of massive amounts of power to keep up with their AI ambitions.—AR

TECH

Lepro Ami holographic desk companion

Lepro

As if the three meetings being taken on speaker around you weren’t distracting enough, soon your tiny desk girlfriend is going to be asking you about your weekend plans. The tech industry’s annual CES trade show in Las Vegas this week featured a lot of questionably AI-enabled tools.

Among the products unveiled at the show were multiple AI holographic companions designed to sit on your desk, including Lepro’s Ami. And companies asking you to talk to a sentient pneumatic tube container wasn’t even the wildest thing at CES. The conference was full of AI everything:

  • Many AI companies showed off their tech in humanoid robots marketed as home helpers. But demonstrations seemed to highlight that—at least for now—they’re much slower than you’d prefer your laundry to be folded.
  • Narwal introduced a robo-vacuum that uses AI to quiet down around cribs and clean heavily pet-trafficked areas. It also notifies the user about toys it finds underneath furniture and can also recognize and alert you to any misplaced jewelry or other valuables it finds beneath couches.
  • There were also AI-enabled microwaves and hair clippers, plus bartenders that can supposedly tell if you’re too drunk to serve.

Meanwhile, new health and wellness tech…ranged from impressive to meh. Dephy’s $4,500 exoskeleton called Sidekick uses Hoka-like shoes and robotic ankle monitors to help wearers walk with less effort, a game-changer for those with mobility issues. And Nuralogix debuted an $899 magic mirror that gives you a longevity score based on a 30-second selfie.—MM

Together With Purple Carrot

ICYMI

Here’s everything that didn’t make it into this week’s newsletters but we immediately sent to the group chat.

Cynthia Erivo is skipping Sunday’s Golden Globes because she’ll be preparing to star in a one-woman Dracula show where she plays 23 roles. Sometimes the setup is the punchline.

Golden Globes host Nikki Glaser said she has been struggling to come up with monologue jokes about Venezuela and Julia Roberts. Venezuela and Julia Roberts, the two toughest topics to joke about today.

Polymarket users placed more than $3 million in wagers on whether or not Jesus Christ would return last year. The winners better have thanked Jesus in their post-bet interviews.

Legendary hip-hop group Salt-N-Pepa had their lawsuit seeking to reclaim ownership of their master recordings dismissed. They plan to ah, push it to an appeals court.

Sir Ian McKellen confirmed that Gandalf and Frodo will return for The Lord of the Rings: The Hunt for Gollum. You can destroy a ring possessed by evil, but nobody can destroy profitable IP.—DL

NEWS

  • A new video that appears to have been taken on the cell phone of the ICE officer who fatally shot Renee Nicole Good in Minneapolis—and that shows the moments leading up to the shooting—was published by Minnesota-based Alpha News and shared on social media by Vice President JD Vance.
  • Iran’s supreme leader signaled that a crackdown on protests spurred by the country’s economic conditions was coming, telling his supporters that the demonstrators were “ruining their own streets” to please President Trump, who had vowed the US would protect the protesters.
  • A federal judge temporarily paused the Trump administration’s decision to withhold $10 billion to Democrat-led states over concerns about fraud, for which the administration has not yet provided evidence.
  • OpenAI and SoftBank agreed to invest $1 billion into SB Energy as part of their data center buildout.
  • Saks Fifth Avenue may file for bankruptcy as soon as tomorrow as the luxury retailer struggles with debt.
  • France will delay the Group of 7 summit to avoid a conflict with a UFC fight planned at the White House on June 14, which is President Trump’s birthday, Politico reports.
  • A rare comic book featuring early depictions of Superman, which was once stolen from actor Nicolas Cage’s house, sold for $15 million.

Together With Fisher Investments

COMMUNITY

Before the holidays, we asked: “What is something new you’re excited to try in the near future?” Here are some of our favorite responses:

  • “Looking forward to studying Koine Greek. Yes, I’m a nerd. No, I have no use for it.”—Joshua from Four Oaks, NC
  • “My first driverless Waymo ride. It’s like the first parachute jump. You know your destination and pray you get there in one piece.”—Michael from Chandler, AZ
  • “I am looking forward to learning how to sail! My husband’s lifelong dream was to become a pirate, so this is as close as we’re legally going to get to that dream.”—Jocelyn from NYC
  • “I’m going to try wild ice skating in Alaska! There’s a lake that is adjacent to a glacier and you can skate right up to the glacier and touch it! Gotta watch out for it calving, though!”—James

This week’s question

What is a cultural trend that needs to be brought back?

Sam’s answer to get the juices flowing: “We need to make pocket watches mainstream again because there’s nothing more classy than pulling one out and proclaiming that you’re late. Plus, they’re a better alternative to checking your phone.”