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Situational awareness: Stock prices in Asia and Europe dropped and oil prices jumped by more than 4% after a U.S. airstrike ordered by President Trump killed a top Iranian general in Iraq. (Bloomberg)
"Your time is limited, so don't waste it living someone else's life." - See who said it and why it matters at the bottom.
Illustration: Aïda Amer/Axios
Life in the U.S. is increasingly divided into two realities — one in which things have almost never been better and another in which it's hard to imagine them being worse.
Driving the news: Bankruptcies led more companies to announce job cuts last year than at any time in more than a decade, WSJ's Aisha Al-Muslim reports, citing data from outplacement firm Challenger, Gray and Christmas.
Details: Despite the latest jobs report from the Labor Department showing the unemployment rate near a 50-year low, 2019 saw the third highest number of total layoffs in the decade, with nearly 600,000 people losing their jobs, a 10% increase over 2018.
The intrigue: Overall, job gains and growth have been confined to certain areas and industries.
Meanwhile, a new report from the Philadelphia Fed shows nine states are expected to see their economies shrink this year, even as the central bank and most economists expect the U.S. as a whole will avoid recession.
What we're watching: The U.S. jobs report will be released next Friday, Jan. 10, not today.
November's consumer confidence report showed the largest gap between the confidence of consumers under 35 and those over 55 in the history of the Conference Board's report.
What's happening: That's largely because older Americans have benefited much more from the current low interest rate environment and gains from the stock market, Nela Richardson, investment strategist at Edward Jones, tells Axios.
The bottom line: Richardson also points out that younger people are less willing to take on risk assets like equities and have missed out on much of the bull market, in part because of their albatross of student debt.
Of note: December's consumer confidence report showed the gap between older and younger people shrinking and younger people growing more confident, but the difference remains below the historical average.
The difference between Americans' views of their current situation and their expectations for the future continues to grow.
Apple announced an exclusive production deal with former HBO CEO Richard Plepler and saw a 2% jump in its stock price, to an all-time high above $300 a share. (Axios)
The death toll from the Australian wildfires has risen to 20 and authorities declared a state of emergency and ordered thousands of tourists to evacuate. (Bloomberg)
After a modest recovery over the past four months, manufacturing reports produced by IHS Markit from around the world almost all worsened in December, showing that the sector continues to face global challenges.
The latest: The U.S. saw little change from November to December, remaining just above contraction with a reading of 50.1, but the eurozone looked tortured with both Italy and the Netherlands posting their worst PMI reports in 80 months.
What it means: "While we are not sounding any alarms, today’s data tells us that investors may have been a bit premature in pricing in a global economic recovery," Emily Roland, co-chief investment strategist at John Hancock Investment Management, tells Axios.
AMD was the best-performing stock on the S&P 500 in both 2018 and 2019, and it got off to a hot start in 2020, rising 7.1% on Thursday to touch a fresh all-time high.
On this day in 1977, Steve Jobs and Steve Wozniak incorporated Apple Computer. Later, Jobs noted the shortness of life in his celebrated "Stay Hungry, Stay Foolish" commencement speech at Stanford in 2005.