The end of the stimulus has not rattled the markets. In fact, the stock market has rocketed to record highs this year. To hear more about why the market has been surging and what it says about the economy, and what it might mean for the year ahead, we're joined by Jeremy Siegel. He is a professor of finance at the Wharton School of Business at the University of Pennsylvania. He joins us from member station WHYY in Philadelphia.
This is WEEKEND EDITION from NPR News. I'm Linda Wertheimer. Scott Simon is away. Long-term unemployment benefits expire today for more than a million Americans. In the wake of the 2008 financial crisis, Congress repeatedly extended the length of time laid-off workers could receive unemployment checks, but in the latest budget deal, lawmakers fail to approve another extension of those benefits.
Senate Majority Leader Harry Reid (D-Nev.) talks to reporters at the Capitol in Washington, last Thursday. Reid has promised a vote no later than Jan. 7 on a measure to extend jobless benefits for three months.
It's not been a good year for Florida's citrus industry. The U.S. Department of Agriculture reports that, for the second year running, the orange crop is expected to be almost 10 percent lower than the previous year.
The culprit is citrus greening, a disease that has devastated Florida's oranges and grapefruits, and has now begun to spread in Texas and California.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.
And we begin this hour with a milestone of 2013, a remarkable feat with far-reaching implications both at home and abroad. According to the Energy Information Agency, the United States became the world's biggest producer of oil and natural gas. NPR's John Ydstie has more on the turnaround in America's energy fortunes.
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel. Retailers are wrapping up a lackluster holiday season. Overall, sales were tepid, but growth exploded online, on mobile devices and with the sale of gift cards. NPR's Sonari Glinton has that story.
North Dakota and western Canada are producing crude oil faster than it can be shipped to refineries.
Rail car manufacturers can't make new tank cars fast enough, and new pipeline proposals face long delays over environmental concerns. So energy companies are looking for new ways to get the heavy crude to market.
One proposed solution is to ship the oil by barge over the Great Lakes — but it's a controversial one.
Though hackers did obtain "strongly encrypted PIN data" when they got into Target's information systems, the retailer said Friday that sensitive information from customers' debit cards should not be at risk.