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Good afternoon. Here's what you should know today, Nov. 12: | |
- Making a Biden-Xi summit happen has been no easy feat
- Oregon's pioneering approach to hard drugs hasn't worked
- 'NCIS' is back
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| Thanks for reading What's News! Look for the 🔐 to enjoy a free article on us—and share the link with a friend (or forward the whole newsletter!). | |
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 | | PHOTO ILLUSTRATION BY EMIL LENDOF/THE WALL STREET JOURNAL; ISTOCK | | |
1. Investors are embracing stocks. | |
| A lightning-fast rebound has driven the S&P 500 up in nine of the past 10 sessions and 7.2% over the past two weeks, the best such stretch of the year. Now, many investors are betting the rally has legs (🔐read for free). In the coming days, the market will parse the latest round of inflation data when the consumer-price index and producer-price index figures are released on Tuesday and Wednesday. For more on what to look out for in the inflation reports, plus previews on expected earnings from Home Depot, Target and Walmart this week, the latest episode of WSJ's Take on the Week podcast has you covered 🎧. | |
| The Low-Wage Pay Surge Is Over, Threatening the Consumer Boom (Read) Bonds vs. Bond Funds: How Higher Rates Are Changing the Calculation (Read) | |
2. At hospitals in northern Gaza, the situation is growing increasingly desperate. | |
| Fighting between Israeli troops and Hamas militants intensified in Gaza City, around Al-Shifa Hospital, the enclave's biggest medical facility. Food and water supplies for the thousands of people taking shelter there are dwindling, and two newborns died when the hospital's incubators shut off due to a power outage, doctors there said. Other hospitals in the northern part of the strip reported similarly dire conditions. Israel said it created a safe corridor for pedestrians and vehicles to evacuate Al-Shifa, but doctors said there was no safe way to evacuate. Follow our live coverage of the war here. | |
| A Foreign Student Saved His Friends From Hamas. Then He Vanished. (Read) Hamas Needed a New Way to Get Money From Iran. It Turned to Crypto. (Read) New York Democrat Faces Primary Threat Over Support for Gaza. He Doesn't Care. (Read) 🎧 Israel-Hamas War: Your Questions Answered (Listen) | |
3. Biden and Xi are meeting this week. Here's what it took to get them to the table. | |
| President Biden and China's Xi Jinping are set to hold their first face-to-face meeting in a year in the San Francisco Bay Area on Wednesday, with both saying they want to mend a divisive, rivalrous U.S.-China relationship. The path to the summit has been strewn with diplomatic slights and gamesmanship, according to interviews with current and former officials on both sides, foreign-affairs specialists and others briefed on summit discussions. There have been snubs, skipped meetings and the withholding of goodwill gestures. | |
4. Oregon decriminalized hard drugs. It isn't working. | |
| In 2020, Oregon became the first state to decriminalize all drugs. Nearly three years into an experiment that proponents hoped would spark a nationwide relaxation of drug laws, many there have turned against the initiative. The fundamental problem, according to law-enforcement officers and researchers, is that the threat of jail time hasn't been replaced with a new incentive for people struggling with addiction to seek treatment. | |
5. 'Don't underestimate NCIS.' | |
| That dialogue from the 2003 series premiere of what was then called "Navy NCIS: Naval Criminal Investigative Service"—dubbed "that Navy show" by a CBS executive at the time—proved prophetic. Flash forward two decades, and that Navy show not only is still going but also has spawned "NCIS: Los Angeles," "NCIS: New Orleans" and "NCIS: Hawaii." The latest iteration and first international installment, "NCIS: Sydney," will make its debut on CBS on Nov. 14. | |
| Arts Calendar: Happenings for the Week (Read) | |
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