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  1. The great American job machine continues to chug along: The number of jobless workers filing for new unemployment claims fell to a seasonally-adjusted rate of just 235,000, well below economists' expectations of 260,000, an indication that the job market remains strong. Look for a solid jobs reports tomorrow in light of strong data this week.
  2. Macy's Department Stores is shutting down almost 70 stores and cutting 10,000 jobs following a disappointing holiday season. Though the American economy may be on the rebound, the best days of retailers like Macy's are well behind them.. While Macy's has performed better than rivals Sears and J,C. Penney, it is not immune to the twin killers of e-commerce and the hollowing out of the American middle class.
  3. Bitcoin rose to a nearly all-time high on Wednesday of $1153.02 before crashing nearly 30%. The rapid rise in recent months was seen as evidence of investors in China attempting to evade their countries capital controls. Despite Chinese regulations against moving wealth out of the country, more than $750 billion fled last year, according to Bloomberg Intelligence. The subsequent crash shows that many investors are in the currency for purely speculative reasons.

What to watch today: Everybody on CNBC is still breathlessly awaiting Dow 20,000.

Go deeper

Biden explains justification for Syria strike in letter to Congress

Photo: Chris Kleponis/CNP/Bloomberg via Getty Images

President Biden told congressional leadership in a letter Saturday that this week's airstrike against facilities in Syria linked to Iranian-backed militia groups was consistent with the U.S. right to self-defense.

Why it matters: Some Democrats, including Sens. Tim Kaine (D-Va.) and Chris Murphy (D-Conn.) and Rep. Ro Khanna (D-Calif.), have criticized the Biden administration for the strike and demanded a briefing.

8 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios