Jimmy Carter dies

Good morning. Jimmy Carter dies. The US economy surprises, again, despite election uncertainty and high interest rates. And the Mega Millions jackpot winner faces some big choices. Listen to the day’s top stories.

Jimmy Carter, the 39th US president who brokered peace between Israel and Egypt in the historic Camp David Accords, has died at 100. His one-term presidency was marred by high inflation, an oil shortage and the Iran hostage crisis, but some of his most notable achievements came after he left the White House—his humanitarian work won him the 2002 Nobel Peace Prize. The former president will get a state funeral, and Joe Biden designated Jan. 9 as a national day of mourning. Click here to see Carter’s life in pictures.

The US economy defied expectations in 2024, outperforming G-7 peers despite the divisive election, elevated interest rates and a cooling labor market. Here are seven charts to put it into perspective. And when it comes to stocks, Wall Street strategists got it wrong again, as witnessed by the S&P 500’s 25% surge this year. Now few are calling for the rally to end.

Commercial aviation has suffered its deadliest year since 2018. In South Korea, investigators are focusing on a bird strike and the unusual failure of landing gear to engage in the crash of a Jeju Air Boeing 737-800 jet that killed 179 people. Elsewhere, Russia shot at an Azerbaijan Airlines plane “by accident” on Dec. 25, leading to its fatal crash, Azerbaijani President Ilham Aliyev said. He had a phone call with Vladimir Putin, who apologized for the incident, although without saying whether Russia was at fault.

The Big Take

Opinion

Bond vigilantes are putting governments on notice, Mohamed A. El-Erian writes. Rising yields show that investors are closely watching whether advanced economies have the ability to deal with high debt and increasing borrowing costs.

Before You Go

From ecstasy to anxiety. The lucky holder of the $1.26 billion Mega Millions jackpot ticket sold in a California gas station has some big choices to make. That may include tapping a wealth adviser, a tax accountant, an estate attorney—and a therapist.

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