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What comes after the U.S. ousts a foreign president? We’re still trying to figure it out. We’ll bring you the latest on oil, the Venezuelan bond market and the art of the deal for Greenland in today’s newsletter.

But first: It’s been one year since the costliest wildfires in history. The Eaton Fire killed 31 people and destroyed 16,000 structures in the Los Angeles area, including the home “Marketplace Morning Report” host David Brancaccio had just moved into. Today, he checks in with a few neighbors. — Tony Wagner, newsletter editor

David Brancaccio stands in front of a home under construction in Altadena
Click the image to watch a video version of this story.
How one block is rebuilding a year since the Eaton Fire
Disruptive geopolitical events often see investors jump into bonds or sell off a bunch of stocks temporarily. Neither of those happened today. Marketplace’s Sabri Ben-Achour looked at why.

In the autumn of 2025, my west Altadena neighbors from the block came together in a park for tamales, iced tea, and commiseration. The fire took away our houses, but it’s not going to take away our community without a fight.

Some neighbors asked for first names only for this story, so they could speak more freely, with insurance and other financial matters in flux.

Vincent and Maria were born and raised in this area. It’s not just their house at the northwest corner of our street that burned to the ground a year ago; their list starts with Vincent’s first childhood home.

“On Terrace Street,” he said, noting that his brother lived there before passing away. “And that house burnt down, too.”

When he thinks back on all the houses he’s had in Altadena over the years, he said not one of them is still standing, as they were all burnt down by this fire. “None of them.”

Vincent has worked at the same car dealership for 45 years now. As for Maria, she’s semi-retired, working at a Dollar Tree now.

“Just for some fun, you know, just something to do,” she said.

For now, they live an hour to the west. “The commute is one thing,” Maria said. “But I mean, you adapt. What do you do?"

The house they lost was 1,600 square feet. It had four bedrooms after Vincent, his son, and his brothers built an expansion in the late 1990s.

“They [the brothers] passed away, so that's why we kind of want to rebuild,” Vincent said.

Could 2026 be the year they get back in? “I'm hoping to have this done by next year this time,” he said.

Lori Ann, another resident, is a retired teacher who, before that, was in my line of work: a business reporter. “And I had taken that day off because it was my birthday, and I was walking through the house, and I thought, ‘I love my house,’“ Lori Ann said.

I felt this, too. Had my joy in finding a nice little house on this street prompted punishment from the fates?

“There was something very — I don't know, the energy was so good, you know? It's like, it felt happy,” she said. “And then, 24 hours, it was gone.”

READ MORE


 
News you should know

Let’s do the numbers

  • Big tech gains boosted Wall Street again today. The S&P 500 closed up 0.6% to reach a new all-time high, the Dow added 1% to yesterday’s record and the Nasdaq gained 0.6%.

  • January is a big month for corporate bonds, and this year businesses are expected to load up on a record amount of debt.

Venezuela

  • Speaking of bonds, Venezuela’s are way up after the U.S. military entered the country over the weekend and deposed President Nicolás Maduro.

  • Does that operation count as an “invasion”? Some Polymarket users say yes, but the prediction trading platform says no, and it’s withholding potentially big paydays.

  • Maduro is facing drug trafficking charges, but President Donald Trump is focused on oil. The President has said oil companies will invest the billions needed to shore up Venezuelan production; experts say it’s not likely. 

  • And it’s not just the cost. Sanctions and a worldwide oil glut make it less likely American energy companies would rush in to tap Venezuela’s reserves.

The Trump administration

  • After the operation in Venezuela, the White House has been fixated again on acquiring Greenland, a semiautonomous island controlled by Denmark that happens to hold lots of oil and minerals. Secretary of State Marco Rubio told lawmakers the White House sought to buy Greenland, rather than take it with military force.

  • The White House is holding back billions in child care aid to blue states over unsubstantiated reports of fraud. Prolonged funding gaps could ripple far beyond the poor families who rely on those benefits.
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LET'S GO
QUOTE OF THE DAY
"I don't really want to go anywhere else. I mean, that's our building."
—  Jimmy Orlandini, owner of Altadena Hardware

“Marketplace” host Kai Ryssdal met Orlandini back in March, in front of where his business used to be. Orlandini lost his store in the Eaton Fire, and over the course of the last year, has been looking for a temporary location to move into until his old building can be rebuilt. So far, he told us he hasn’t had any luck.

Protestors inside the Capitol on January 6, 2021.
Roberto Schmidt/AFP via Getty Images
Final note
There's one more anniversary today

Five years ago, insurrectionists stormed the U.S. Capitol to protest President Donald Trump’s loss in the 2020 election. The White House just published its own accounting of that day, recasting the deadly riot as a peaceful protest and defending Trump’s sweeping pardons of those involved.

We recommend checking out NPR’s Jan. 6 archive, which uses documentary footage and extensive reporting to recreate a detailed timeline of the insurrection from the frontlines. We also recommend this two-part episode of our podcast “This Is Uncomfortable” about the financial life of right-wing extremist Stewart Rhodes.

Rhodes founded the militia group the Oath Keepers, who were among the first to breach Capitol five years ago, and later landed in prison for seditious conspiracy before Trump commuted his sentence. His ex-wife, Tasha Adams, said Rhodes kept her and their six kids isolated and impoverished as his fame grew.

 
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