Op-ed: At some point, sky-high valuations will matter just like they did for the dot-com busts
The Fearless Girl sculpture wearing a mask stands next to a large Christmas Tree lit up displayed in front of the New York Stock Exchange on December 06, 2020 in New York City. Alexi Rosenfeld | Getty ImagesIt's not often that celebrity home-buying sprees give me insights into the stock market. However, when I read last Friday about Ellen DeGeneres' purchase of a $49 million house in Montecito, California, I realized that this behavior helped me understand the current exuberant state of the stock market. It was the example of how investors buy what they want, when they want it, at whatever price is necessary, that struck me as the defining character of this current stock market. I have written about the surge in retail trading, a major force behind this phenomenon, especially among people for whom stock trading seems to serve as a surrogate for unavailable leisure activities.cnbc.com
UK nixes Christmas gatherings, shuts London shops over virus
Shoppers wear face masks as they walk in Regent Street, ahead of the new Tier-4 restriction measures, in London, Saturday, Dec. 19, 2020. Britain's Prime Minister Boris Johnson says Christmas gatherings cannot go ahead and non-essential shops must close in London and much of southern England as he imposed a new, higher level of coronavirus restrictions to curb rapidly spreading infections. “It is with a very heavy heart that I must tell you we cannot proceed with Christmas as planned,” Johnson said. While London fared relatively well in controlling the virus throughout the fall, the city now has the highest infection rates in England. The move will largely scrap Christmas gatherings in line with the rules for southern England.
Want a live Christmas tree? Hurry up because they’re going fast
The year 2020 has been one for the books and many families started decorating for Christmas a little early this year, even before Thanksgiving. Severts Tree Farm has multiple locations around Northeast Florida providing the community with big and small Christmas trees. Clint Nordon is an arborist who operates the tree lot in Mandarin and says this year has been astronomical. “It has been very welcoming, but the greatest turnout that we’ve seen in years,” said Nordon. “That’s part of uplifting spirits.”So, if you’re in the market for a real Christmas tree this season, you might want to head on out to your local tree lot and find the perfect fit for your family before they’re all gone.
Christmas tree sales are telling a holly, jolly economic story
John Williams, left, and his dad Terry, right, both of Salem, carry a large Christmas Tree out of the field together at Tucker Tree Farm in Salem, Oregon, November 29, 2020. Alisha Jucevic | ReutersTree retailers are having a spirited season this year, as Americans staying closer to home due to the coronavirus pandemic are turning the holiday spirit up a notch. Christmas trees are helping paint a bit more optimistic narrative. "People are staying at home and getting a really big tree," Evercore analyst Ed Hyman said in a note. Indeed, each year Americans will buy between 25 million and 30 million real Christmas trees along with another 10 million to 20 million artificial ones, according to Statista.cnbc.com
"World's ugliest Christmas tree" lives on
It's the time of year when Christmas trees are normally being tossed to the curb, but in Reading, Pennsylvania, one tree has become immortal. It's not for the tree's beauty though. Steve Hartman goes "On the Road" for another look at the "World's ugliest Christmas tree."cbsnews.com