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Hey listeners, it's Saturday, January 11th.

I'm Francesca Vontana for the Wall Street Journal,

and this is What's News in Market, our look at the biggest stock moves of the week and the news

that drove them. Let's get to it. We had another short trading week this week, with markets

closed Thursday for our National Day of Morning in honor of former President Jimmy Carter.

But during the four trading sessions we did have, there was plenty of action.

Primarily, we saw the markets react to the devastating wildfires that broke out on Tuesday in Los Angeles and have wreaked havoc across the region.

In the case of this kind of natural disaster, we can see investors' concerns affecting

stocks like the local utilities, such as Southern California Electric Company, Edison International.

And there are the home and auto insurance stocks like Allstate, AIG, and others. And their shares

fell on Friday as analysts estimate that the devastation will cost insurers billions of dollars.

On Friday, we also got the December Jobs Report, which topped expectations.

Way more jobs were created than anticipated, which suggests that the labor market has recovered, and it might even be gaining steam.

As we've discussed before on this podcast, the jobs report is an

...