Op-ed: At some point, sky-high valuations will matter just like they did for the dot-com busts
The Fearless Girl sculpture wearing a mask stands next to a large Christmas Tree lit up displayed in front of the New York Stock Exchange on December 06, 2020 in New York City. Alexi Rosenfeld | Getty ImagesIt's not often that celebrity home-buying sprees give me insights into the stock market. However, when I read last Friday about Ellen DeGeneres' purchase of a $49 million house in Montecito, California, I realized that this behavior helped me understand the current exuberant state of the stock market. It was the example of how investors buy what they want, when they want it, at whatever price is necessary, that struck me as the defining character of this current stock market. I have written about the surge in retail trading, a major force behind this phenomenon, especially among people for whom stock trading seems to serve as a surrogate for unavailable leisure activities.cnbc.com
UK nixes Christmas gatherings, shuts London shops over virus
Shoppers wear face masks as they walk in Regent Street, ahead of the new Tier-4 restriction measures, in London, Saturday, Dec. 19, 2020. Britain's Prime Minister Boris Johnson says Christmas gatherings cannot go ahead and non-essential shops must close in London and much of southern England as he imposed a new, higher level of coronavirus restrictions to curb rapidly spreading infections. “It is with a very heavy heart that I must tell you we cannot proceed with Christmas as planned,” Johnson said. While London fared relatively well in controlling the virus throughout the fall, the city now has the highest infection rates in England. The move will largely scrap Christmas gatherings in line with the rules for southern England.
Christmas tree sales are telling a holly, jolly economic story
John Williams, left, and his dad Terry, right, both of Salem, carry a large Christmas Tree out of the field together at Tucker Tree Farm in Salem, Oregon, November 29, 2020. Alisha Jucevic | ReutersTree retailers are having a spirited season this year, as Americans staying closer to home due to the coronavirus pandemic are turning the holiday spirit up a notch. Christmas trees are helping paint a bit more optimistic narrative. "People are staying at home and getting a really big tree," Evercore analyst Ed Hyman said in a note. Indeed, each year Americans will buy between 25 million and 30 million real Christmas trees along with another 10 million to 20 million artificial ones, according to Statista.cnbc.com
Local Christmas tree farms allow for social distancing
That’s when most Christmas tree farms are open for business. He said the good thing about tree farms is that most have plenty of space to let customers spread out and social distance. There are 15 Christmas tree farms in the greater Houston area. If you choose to stay home, you can get a fresh tree delivered, but you may be waiting a minute. Home Depot advertises that you can order your fresh cut Christmas tree online today and get free delivery if the tree costs at least $45.
Texas woman decorates Christmas tree with free face masks those in her neighborhood can use
KYLE, Texas – One Central Texas woman is giving back to the community by putting her Christmas Tree to good use during the off-season. Kyle resident Jacqueline Smith decorated her metallic pink Christmas tree with hand-sewn face masks for the community to use. She had signs written in English and Spanish to tell her neighbors the masks were free and donations were accepted. Smith says it became such a hit that she ran out of masks to give away, but other community members came to refill her tree with masks they made. With great spirits, not only did she receive monetary donations but also supply donations to encourage her to make more face masks.
"World's ugliest Christmas tree" lives on
It's the time of year when Christmas trees are normally being tossed to the curb, but in Reading, Pennsylvania, one tree has become immortal. It's not for the tree's beauty though. Steve Hartman goes "On the Road" for another look at the "World's ugliest Christmas tree."cbsnews.com