Axios

Sears chairman Eddie Lampert reportedly submitted a $4.6 billion bid to buy the company and potentially save it from liquidation on Friday, hours before the deadline, according to CNBC and Reuters.

The big picture: Lampert, who has received at least part of the blame for the department store chain’s demise, heads the hedge fund that is the retailer’s biggest creditor and owns equity in the company. Investors have until Jan. 4 to determine whether his hedge fund, ESL Investments, is a qualified buyer. After that, the bid will be weighed against liquidation offers to determine whether the chain will be kept alive or closed down permanently.

Teachers and public education employees in the U.S. quit at the fastest rate ever recorded in 2018, the Wall Street Journal reports.

The big picture: Historically low unemployment could be the cause, as Americans expect "they can find something better," per the Journal. But there were also a string of teacher protests around the country this year over pay and poor conditions. 83 of every 10,000 public educators quit in the first 10 months of 2018, which is the highest rate since records began in 2001, the Journal notes.

Former President Barack Obama posted his year-end list of his favorite books, movies, and music that he found "most though-provoking, inspiring, or just plain loved" on Facebook Friday morning.

Details: Obama's favorite book was his wife Michelle's, "Becoming" ("obviously my favorite!" he wrote). He also gave a shout out to movies like "Black Panther" and "Eighth Grade," as well as songs such as "I Like It" by Cardi B and Prince's "Mary Don't You Weep."

There's a reckoning coming over fakeness online, as people increasingly realize the dangers of an online ecosystem where everything is definitely not all right.

The big picture: "Everything that once seemed definitively and unquestionably real now seems slightly fake; everything that once seemed slightly fake now has the power and presence of the real," Max Read writes for New York Magazine.

The Dow Jones Industrial Average rebounded over 800 points from its low earlier in the day to close up 260 points Thursday, while the Nasdaq and S&P rose less than 1%.

Why it matters: Volatility is back, as we've seen over the past few months and every trading session this holiday week.

Consumer confidence in the United States has fallen amid public concern that economic growth will slow down next year and benefits from last year's tax cuts will fade, the Associated Press reports.

By the numbers: The index measures consumers' assessment of the economy and their outlook for the next six months. The Conference Board, a business research group, said its consumer confidence index fell to 128.1 in December, reaching its lowest mark since July. In November, consumer confidence was at 136.4.

MSNBC topped Fox News in total viewers during the week of Dec. 17 for the first time since 2000 as its flagship "The Rachel Maddow Show" ended the week as cable news' most-watched program. (Update: Fox News notes that Sean Hannity, who is opposite Maddow at 9 p.m. ET, has been out for the holidays since Dec. 14.)

The big picture: MSNBC's rise comes as the AP reports that Fox News' fortunes may be tied to the state of news from the Trump administration. Sean Hannity, the network's preeminent host and "Maddow" competitor, is set to earn the title of most popular cable news personality this year, but his ratings have fallen 19% in the month following the midterm elections as the rest of Fox News' prime time slate have also fallen 20% in the same time period.

Disclosure: NBC is an investor in Axios and NBC News Chairman Andy Lack is on our board of directors.