Axios

People's politics increasingly shape their views about the economy. If there was any doubt, the latest data from the University of Michigan consumer sentiment survey removed it.

Driving the news: Overall consumer sentiment ticked up to the highest level since April, with an index at 74, up from last month's 71.8. But that masks a stunning reversal in the partisan divide about the economy since Election Day.

Hiring rebounded in November as the effects of hurricanes and a strike that held down October numbers dissipated. But beneath the surface of the new numbers are some warning signs that all may not be well for American workers.

Why it matters: Robust headline job growth isn't telling the whole story, as the number of people unemployed, and the share not in the labor force at all, both increased.

The U.S. economy added 227,000 jobs in November, while the unemployment rate ticked up to 4.2%, the Labor Department said on Friday.

Why it matters: The report reflects a strong bounceback of jobs after hurricanes and a major strike sidelined workers in October.

Target is discounting one of the most popular holiday gifts — gift cards — this weekend.

Why it matters: Gift cards are expected to be a top gift with total spending projected to reach $28.6 billion, according to the National Retail Federation's annual survey.

Christmas trees get cheaper as Christmas Day approaches — but that doesn't mean shoppers looking to get the best value out of their tree purchase should delay it as long as they can.

Why it matters: The reason for tree prices to decline as Christmas approaches is twofold.

Child care issues are increasingly keeping parents out of the workforce, finds new research from the Federal Reserve Bank of Chicago.

Why it matters: If parents can't work, that means less income for families and fewer workers for businesses to hire.

If you want to outperform the average billionaire, you might try just sticking all your money into an S&P 500 index fund.

Why it matters: While it's true that the ultra-rich have been been getting richer in recent years, even they haven't been able to keep up with the torrid pace set by the U.S. stock market.

A federal judge on Thursday rejected Boeing's plea deal over a criminal fraud charge stemming from two fatal 737 crashes in 2018 and 2019.

Why it matters: The plane crashes in Indonesia and Ethiopia killed a total of 346 people and ignited scrutiny about quality control and safety at Boeing — concerns that have only become starker in recent years.

The crypto community celebrated news of President-elect Trump's pick for SEC chair by driving the price of bitcoin the last few yards to break $100k.

Why it matters: Paul Atkins' nomination to lead the agency all but promises a total reversal of the debilitating hostility that's grown between the industry and the country's top financial regulator.

The big picture: Atkins' nomination can be viewed as half of Trump's promise to the crypto industry for a friendlier SEC.

• Current chair Gary Gensler, who Trump threatened to "fire" in July, has already said he'll step down on Inauguration Day. Gensler's tenure leading the SEC since 2021 has been combative, marked by controversial rulemaking and an aggressive enforcement approach with the crypto industry.

Don't get baited. Stick to your knitting — but be clear and firm on issues where the law is on your side.

The big picture: That's the playbook that Federal Reserve chair Jerome Powell and the Fed used when President-elect Trump was last president and regularly pilloried the central bank for pushing interest rates too high. Powell has dusted it off for Trump 2.0.

Two private equity firms aided and abetted "egregious breaches" of fiduciary duty, a Delaware Chancery Court judge ruled earlier this week. And it could take a big bite out of their fund returns.

Why it matters: The judge's remedy is novel, and could become a blueprint for other courts.

Here's what's new on Netflix, Peacock, Hulu, Disney+, Max, Apple TV+, Paramount+ and Prime Video.

What we're watching: A variety holiday special from Sabrina Carpenter, a reboot of a classic Richard Pryor film and a new season of "The Ultimatum."

Americans need to make nearly $800,000 to be in the top 1% of households nationally — but the bar varies considerably by state.

By the numbers: Washington, D.C., has the highest threshold for one-percenters, at about $1.22 million.

Bitcoin's price broke $100,000 on Wednesday night, capping a bull run that has seen the original cryptocurrency rise more than 30% since Election Day.

Why it matters: It's a big round number, and also a symbolic one — marking what could be the industry's next stage of long-term growth.