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Here are the headlines you Need2Know for Wednesday, November 17, 2021:
HOLIDAY SHOPPING STARTS EARLY
Not even higher prices could stop U.S. consumers from spending more going into this holiday season. According to Commerce Department data, sales rose a seasonally adjusted 1.7% in October, despite inflation concerns and continued fears about the pandemic. The bullish sales data lined up with earnings beats from retail giants Home Depot and Walmart, which attributed the strong third quarter sales to customers starting their holiday shopping early. The strong retail numbers fueled market gains, as the S&P 500 comes within striking distance of a new record. WSJ
BOOSTERS FOR ALL
The FDA could recommend Pfizer-BioNTech boosters for all adults this week. States and cities have begun to open it up to everyone anyway as cases rise and people get ready to go home for the holidays. Meanwhile, Pfizer has announced a deal to sell its COVID-19 antiviral pill inexpensively to 95 poorer countries that are home to half the world's population. The deal is similar to one Merck struck in October for its antiviral pill and combined, the two drugs could help alter the course of the pandemic. Both pharmaceutical giants are currently seeking FDA approval for their treatments. NY TIMES
OIL SUPPLY RECOVERS
Oil prices are soaring, but a rebound in global supply could soon help ease consumers' pain at the pump. The International Energy Agency released a report on Tuesday that says major oil suppliers such as the U.S., Russia, and Saudi Arabia will drive up supply through the end of the year, potentially putting a damper on the commodity's recent price rally, which crossed $80 a barrel over the past three weeks. CNBC
PING PONG BALL MANDATE
Thanks to an arcane federal law involving a ping-pong ball lottery, the conservative-leaning 6th U.S. Circuit Court of Appeals in Ohio will handle a slew of cases challenging Biden's vaccine mandate. When federal agency actions are challenged in multiple circuit courts, a judicial panel pulls a ball out of a bin to determine which court will take them on. This could be a lucky result for those opposing the mandate - this appeals court has twice as many judges who have been appointed by Republican presidents than Democrats - although the three-judge panel hasn't been selected yet. CNN
FAREWELL STAPLES CENTER
The Lakers, Clippers, Kings, and Sparks are all about to get a new home. Or, er, their home is about to get a new name. The famous Staples Center in Los Angeles will now be known as Crypto.com Arena. The new logo will be revealed during the Lakers-Nets game on Christmas Day and the full rollout should be in effect by next summer. The crypto exchange reportedly paid more than $700 million for the 20-year naming rights deal. That blows the original Staples deal out of the water - just $100 million for 10 years back in 1999. THE VERGE
TIMES SQUARE NEW YEAR'S RETURNS
The New Year's Eve celebration in Times Square is returning after taking a hiatus last year. Mayor Bill de Blasio said the event is "coming back full strength," but with some new rules to keep people safe. Revelers aged five and older will have to show proof of vaccination and wear a mask if they want to watch the ball drop in person. If you're still concerned, the city will have a test run with the Macy’s Thanksgiving Day Parade, which is also returning in full force this year. AP
GREEN BAY PACKERS SELL STOCKS
For only the sixth time in its history, the Green Bay Packers are selling shares to the general public. The $90 million offering commenced Tuesday morning at $300 per share plus a fee. The sale continues until Feb. 25 or until they're sold out. While owning a piece of the Packers may be tempting, the nonprofit team noted that buyers shouldn't expect to "make a profit or to receive a dividend or tax deduction or any other economic benefits.” Instead, the shares will help fund improvements at Lambeau Field. USA TODAY
GEN Z GETS WIRED
While it may seem like everyone is wearing AirPods these days, Gen Z is going retro with corded headphones. Dangling wires are popping up on the Instagram accounts of popular Gen Z celebrities such as Bella Hadid, Lily-Rose Depp, and Zoë Kravitz. An Instagram account called @wireditgirls has been launched to document the phenomenon. WSJ
SPOTTED…
… The Harry Potter series' most famous trio, Daniel Radcliffe, Rupert Grint, and Emma Watson, will reunite for HBO Max's Harry Potter 20th Anniversary: Return to Hogwarts. The special, which will feature in-depth interviews with the cast, will premier January 1. READ MORE
… A 34-year-old Hilary Duff recently went viral on TikTok in a video recreating her dance moves from a famous 2007 performance of With Love on The Tonight Show with Jay Leno. WATCH IT
LEFTOVERS: THE PERFECT HUG
Did you know some hugs are better than others? According to new research from psychologists at Goldsmiths, University of London, the perfect hug should last between 5 to 10 seconds, with criss-crossed arms. The report also noted that hugs are one of the most common types of "affective touch," so why not get it right and hold for at least 10 seconds? UK TODAY
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