What a week, right? Huge market swings, a correction and, oh yeah, a baby government shutdown. Is this the new normal? That's what we're sorting through in the conversation that kicks off today's show. Now let's be clear: We're in a correction, there's no reason to get all jittery and do something crazy with your retirement savings. That said, it's understandable that people's calculations have changed in the decade since the financial crisis. Plus, revisiting "Dan and Dave," perhaps the most famous Olympic ad campaign of all time.
Another down, volatile day on Wall Street. The Dow closed down more than 1,000 points, and major indices are down about 10 percent from a couple weeks ago, putting U.S. markets square in correction territory. That's where we'll start today's show. Then we visit a small city in Arkansas trying to regulate the smell it says is coming from a local meat-rendering plant, and finding out there's not much it can do. Plus: Millennials aren't killing business cards, just making them weirder.
As we tape this, one congressional chamber has come to an agreement about how to run the American economy, at least in part. The two-year budget deal would mean we wouldn't have to worry about shutdowns or short-term funding bills until the middle of 2019, but it still has to pass the House and be signed by President Donald Trump. We'll start today's show with the latest. Then: Farming used to be a much bigger part of prison labor, but thousands of this country's more than 2 million inmates still grow vegetables or feed crops for sale on the outside. We'll take you to a Montana prison ranch where inmates get job training, build life skills and raise cows. Plus: a visit to the heart of "Brotopia."
How are we doing today? Everyone feeling a little better? With clearer eyes and some of yesterday's dive recovered, let's take a closer look at what's going on in the stock market. We'll talk about algorithmic trading, bonds and the international market. Plus, don't forget there's a whole other storm brewing: We're two days from another potential government shutdown.
It's the Dow's biggest single-day point drop on record. We're starting off today's show with some context: What we know, what we don't and how serious to take it. Then: If you've ever had Wonderful Pistachios, POM pomegranate juice or Halo mandarin oranges, you're familiar with The Wonderful Company, which operates one of the largest farms in the world. Despite record droughts in California, it actually increased yields. Plus: Economic theory says the Eagles' first Super Bowl win last night was more valuable than what would have been the Patriots' sixth. We'll talk about why.
You hear us say it all the time: The stock market is not the economy. That's especially true today, as the Dow took a steep dive just after a really great jobs report. We'll talk about it on the Weekly Wrap. Then: We're gonna dig into wages, because the 2.9 percent growth we saw last month was a big deal after years of stagnation. Plus: When you watch the Super Bowl this weekend, take a look at the owners boxes: full of white guys, like nearly every team in the NFL. But why?