Test Day

To view this email as a web page, click here.

What's Happening Today

Good morning! It's Kristin with your daily morning digest.

Well, I told you to prepare for a lot of market action this week. The VIX, which tracks market volatility, is on the rise as stocks whip up and down on fresh earnings reports, including strong results from Bank of America and Morgan Stanley. Morgan Stanley saw profit jump 9% from last year, beating expectations. The yield on the 10-year Treasury note ticked down to 1.85% after climbing to 1.87%, still near two-year highs.

Today marks the first day that you can officially order free COVID-19 tests from the government at covidtests.gov. The U.S. has decided to follow up that decision to provide free tests with 400 million masks to Americans, available at pharmacies and health centers.

And remember yesterday's story about travel disruptions if cell phone carriers didn't delay the implementation of 5G service near airports? Verizon and AT&T are delaying their rollout near certain airports in response to concerns, but international airlines have already started canceling flights to the United States. This might sound like just a travel story, but it isn't—we've seen throughout the pandemic just how many economies and businesses rely on travel and travelers. There will also likely be knock-on effects as travel costs increase and travelers scramble and buy train tickets and car rentals, sending those prices soaring.

- Kristin

Editors' Picks

U.S. Housing Starts Rise Unexpectedly on Multifamily Building (Bloomberg)

Most PPP Funding Didn't 'Protect Paychecks' After All (The Balance)

International Airlines Suspend Some US Flights Over 5G Uncertainty (CNN)

'It's All Just Wild': Tech Start-Ups Reach a New Peak of Froth (New York Times)

Microsoft's Activision Deal to Power Its Netflix-of-Gaming Aspirations (Wall Street Journal)

Off the Charts

Switchers, not quitters, is probably a better way to describe the record number of people leaving jobs these days. They're not exiting the workforce, just heading for better opportunities. While the high number of so-called "quits" has received a lot of attention, experts say the missing piece to the puzzle is that many of them are taking other jobs.

Number of the Day

2023 - That's when a decent share of market experts think the U.S. economy will fall into its next recession, according to a new Deutsche Bank survey.

SPONSORED BY DISCOVER PERSONAL LOANS

Manage Debt and Boost Financial Wellness

The start of a new year is a great time to strengthen good money habits. These tips can help you reduce debt and take charge of your finances. LEARN MORE >

More From The Balance

Fees You Need To Know About When Buying a Home

Your mortgage interest rate and home price are only parts of the cost of buying a home. Make sure you prepare for these other homebuying fees as well.

READ MORE >

What Is a Seller's Market?

In a seller's market, the demand from homebuyers outpaces the available homes. Sellers have more leverage to ask for high prices, and homes don't stay on the market long.

READ MORE >

What Is an Eligible Rollover Distribution?

An eligible rollover distribution is a way to move retirement money in a way that does not incur extra taxes. Learn what it means for your retirement planning.

READ MORE >