MIDDAY UPDATE: State of the Union, cocoa prices, Academy Award nominations

President Barack Obama is expected to discuss the economy, unemployment, and the deficit in tonight’s State of the Union address. But Senator Jeff Merkley, Democratic representative from Oregon, is calling on President Obama to instead focus on foreclosures.

Following President Obama’s address, the nation will hear from up-and-coming GOP Representative Paul Ryan of Wisconsin. Many Americans will meet the Congressman for the first time when he gives the Republican response to the President’s speech.

And feeding your chocolate addiction soon could cost you more. The price of chocolate is expected to increase, as political turmoil in the Ivory Coast has affected cocoa exports. In other food news, the Big Apple has been named the brunch capital of the U.S.

Finally, the Academy of Motion Picture Arts and Sciences released 2010’s Oscar nominations this morning. An Academy Award — or even a nomination — is a ticket to success for actors and directors. But it takes a huge team to create a film, and many of those working behind-the-scene also stand to benefit from a win.