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The US Congress agreed to a $900 billion stimulus bill. The sweeping, bipartisan pandemic relief package, which lawmakers vote on today, will include $600 payments to individuals.
Moderna began distribution of a Covid-19 vaccine in the US. More than 3,700 sites are expected to receive and administer shots as soon as today, widening the US immunization rollout that began last week with Pfizer’s vaccine.
Brits get barred from more countries… Following concerns over a more infectious strain of Covid-19, a number of European countries have banned passenger air travel from the UK. The EU meets to discuss a more coordinated response today.
…as Brexit trade negotiators missed another key deadline. The European Parliament had said that an agreement must be reached by yesterday in order to ratify a deal before Dec. 31, but talks will continue today.
SoftBank files for a SPAC. The conglomerate is filing today to raise over $500 million through a special-purpose acquisition company, also known as a blank-check company, to buy a firm that it hasn’t previously invested in.
Dozens of Al Jazeera journalists were allegedly hacked. Research by Citizen Lab at the University of Toronto found what appears to be a major espionage campaign likely ordered by Saudi Arabia and the United Arab Emirates.
Elon Musk mused about large bitcoin transactions. A bitcoin booster’s plea on Twitter to convert Tesla’s balance sheet into the digital currency seemed to at least pique Musk’s curiosity, as bitcoin surges to record highs.
Goldman Sachs and Netflix are ramping up Covid-19 testing for workers. Aiming to get workers back into the office, employers from Hollywood to Wall Street are embracing regular, sometimes daily rapid testing.
What to watch for
Tesla today joins the S&P 500 Index, where the electric-car maker, with a market value of around $660 billion, will constitute about 1% of the $30 trillion index. That’s slightly less than the 1.3% weight that Berkshire Hathaway had when it was added in 2010.
The S&P is one of the most important indices in the world—more than $11 trillion worth of assets are benchmarked to it—and many money managers are judged by how well they perform against it. “Active portfolio managers that are benchmarked to that index are going to have to look at Tesla and care about Tesla,” says Phil Mackintosh, chief economist at stock exchange operator Nasdaq. “The S&P returns we see on television are going to reflect, partly, Tesla performance every day.”
Does this mean Tesla stock, which has rallied a mind-boggling 700% this year, will climb even higher? S&P 500 additions happen fairly often, and tend to climb about 5% after the news gets released. Tesla’s increase since its planned addition to the index was announced Nov. 30 has been much bigger—as much as about 14%. Shares fell in early morning trading today.
Charting the most read Wikipedia pages on each day of 2020
Reflecting on Wikipedia’s most-read pages is like holding up an encyclopedic mirror to society. We’ve pulled together the most-read English-language Wikipedia page for every day of 2020 excluding the Main Page and the Search page. While they tend to underscore the important events (the killings of George Floyd and Breonna Taylor, for example), concerns (coronavirus), and people (Joe Biden, Kamala Harris) of the year, there are a few unexpected twists, like Johnny Bravo goes to Bollywood.
Visit our interactive calendar to pick your date and get taken to the top-read Wikipedia page on that day in 2020.
High drama
Theaters have survived the threat of disruption many times before: They fended off the advent of television, outlasted Betamax, the VCR, and DVDs, and competed with improvements in home theater systems. They even survived the 1918 Spanish flu pandemic. But consumption habits have shifted, irreversibly it seems, to hand-held devices and at-home experiences. And the coronavirus has devastated an industry that was already struggling (at least in the US, though certainly not in China). Hollywood is adjusting its priorities now. Can the movie theater survive the double punch of streaming and the coronavirus pandemic?
Adam Epstein examines the industry’s best options for avoiding extinction, as part of our new field guide on the fate of movie theaters.
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Surprising discoveries
Saturn and Jupiter meet up today. The last time both planets orbited as closely and were visible in the sky was in 1226.
Pro athletes are looking for work on LinkedIn. Players are turning to the networking site to find other opportunities, such as endorsement deals or investing, to complement their day jobs.
Early humans may have survived harsh winters by hibernating. According to fossil experts, disruptions in bone development show that Neanderthals may have slept through winters like cave bears and bats.
Sesame Street creates Rohingya muppets. The globally popular children’s show has created two new characters to help educate children living in the world’s largest refugee camp in Bangladesh.
Lockdowns have brought velour and Uggs back into vogue. Juicy Couture tracksuits and Ugg boots aren’t just comfortable—they’re fashionable again.
Our best wishes for a productive day. Please send any news, comments, planetary rendezvous, and warm Uggs tips to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Mary Hui, Tripti Lahiri, Michelle Cheng, John Detrixhe, Jackie Bischof, and Heather Landy.