Markets

The U.S. national debt is climbing at a rapid pace, on track to double over the next three decades amid a rush of spending by President Biden and Congress.

Meta, the parent company of Facebook and Instagram, is cutting the lowest-performing 5% of its workforce and plans to fill those roles later this year, the company said in a memo.

Southern California Edison, a division of Edison International, has been hit with multiple lawsuits accusing the utility of starting one of the fires burning near Los Angeles.

Nvidia pushed back on the Biden administration's new executive order relating to overseas sales of advanced AI chips, saying it will undermine U.S. technological leadership.

Southwest Airlines is looking to trim costs by implementing a hiatus on certain hiring, most summer internships and "rallies" it hosts for employees.

The producer price index for final demand rose 0.2% last month after an unrevised 0.4% advance in November, the Labor Department's Bureau of Labor Statistics said on Tuesday.

Small business owner optimism surged to a 6-year high in December, driven by high hopes for the economy following President-elect Trump's win, according to the NFIB.

Insurance companies are expected to face significant losses due to the wildfires in Southern California, though a report by Wells Fargo expects those will be "manageable."

Amazon announced it is pulling the plug on its "Try Before You Buy" service launched in 2017, which allowed customers to order multiple items to try on before purchasing.

Financial analysts at Wells Fargo Securities estimated that insured losses from the Southern California wildfires could exceed $30 billion based on their latest analysis.