Friday, October 13th, 2023

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FRIDAY, OCTOBER 13, 2023

Good morning! The cornerstone for the White House was laid on this day in 1792. Curiously, nobody knows the exact location of the stone today. Teddy Roosevelt and Harry Truman both tried and failed to find it. According to some sources, the group that laid the stone made their way to a tavern to celebrate and woke up with fuzzy memories of the stone’s location.

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Scalise Resigns From Speaker Race

In an unexpected turn of events, House Majority Leader Steve Scalise dropped out of the race for House speaker last night. He made this decision following a closed-door meeting with fellow House Republicans.

In a press conference following the decision, the Louisiana congressman called for the Republican Party to come together for the country over its own members’ political agendas. He then added that he would push for a new speaker to be elected as quickly as possible.

Scalise won his nomination by a slim majority in the Republican conference vote on Wednesday. However, many in the party expressed intent to protest the nomination and delay the actual election.

NATO Backs Israel

NATO has committed to sending the munitions that Israel will need in its emerging war with Hamas. U.S. Defense Secretary Lloyd Austin says America will be sending “security assistance” in the form of provisions and equipment to Isreal without any conditions.

NATO Secretary-General Jens Stoltenberg has specifically named both Iran and Hezbollah as possibly lending a hand in Saturday’s attacks, though Iran continues to dispute these claims.

Many NATO member nations have pledged assistance for Israel. This comes after NATO spent the last 18 months being very cautious about arming Ukraine or sending Kyiv the munitions needed to fight the war against Russia.

Autoworker Strike Intensifies

The United Auto Workers (UAW) union has significantly ramped up its strike efforts against the Detroit Three after 8,700 more workers walked off the job at a Ford plant in Kentucky on Wednesday. This unexpected action effectively disabled the most profitable Ford plant in the world.

Executives at Ford didn’t offer any amendments to their current economic position but did respond that they are working to potentially cover electric vehicle plants in the UAW national contract. This was not enough to quell the walkout.

Since the beginning of this strike, the three major Detroit automakers have laid off 4,800 workers at non-striking plants. Auto executives report that the strikes have forced their hands on the matter.

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➤ Democrat Bob Menendez has been accused of acting as a foreign agent and accepting bribes from the Egyptian government. A formal indictment was filed in Manhattan yesterday. (More)

➤ Senators Ben Cardin and Jim Risch plan to introduce a resolution to back Israel in the battle against Hamas. The lawmakers released a statement expressing “ironclad support” for Israel. (More)

➤ The Biden Administration has pumped the brakes on offshore drilling. According to federal data, permitting has fallen to levels not seen since the George W. Bush administration. (More)

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➤ The Denver Broncos plan to cut ties with veteran linebacker Frank Clark. After sustaining an injury, the pass-rusher has only played two games in an orange jersey. (More)

➤ LIV Golfers are calling the Official World Golf Ranking system into question after the organization refused to legitimize the Saudi-backed league. Cameron Smith and Dustin Johnson both shared criticisms. (More)

➤ The Diamondbacks eliminated the Dodgers as they continue their run for the 2023 World Series. The team set a post-season record by slugging four homers in one inning. (More)

Market Report 10/12/23

▼	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	13,574.22	–0.63%
▼	SPX S&P 500	4,349.61	–0.62%
▼	DJI Dow Jones Industrial Average	33,631.14	–0.51%
▲	BTC Bitcoin	$26,836.0	+0.15%
▲	VS Versus Systems Inc	$0.33	+43.64%

➤ Yesterday’s Top Gainer: Versus Systems (VS) stock rocketed 52% yesterday after moving a remarkable volume of about 137 million shares in the session. The stock has gained popularity lately for its high potential and low cost. (More)

➤ Microsoft (MSFT) shed 0.4% after hours on Wednesday after disclosing a notice from the IRS. The tech titan apparently owes $28.9 billion in back taxes. (More)

➤ Shares from dialysis companies slipped after a successful trial of Ozempic—a breakthrough diabetes drug that’s been shown to be effective in treating certain types of kidney conditions. (More)

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➤ The U.S. Space Force has halted the use of AI tools after citing concerns over data security. Executives are calling for a more responsible adoption of this technology given the cybersecurity uncertainties. (More)

➤ A potent strain of the bluetongue virus is threatening livestock across the Netherlands. Concern is growing that the virus could make the jump to sheep and cattle across the U.K. (More)

➤ Meta’s Threads app announced it will launch an edit button for amending posts. Unlike its competitors at X, Meta will make this feature free for all users. (More)

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➤ A surfer saved a stranded deer in the ocean off the coast of Belmar. Though the water was turbulent, the New Jersey Good Samaritan still made the rescue. (More)

➤ A mother-daughter duo reunited with a nurse who once saved their lives. In an incredible coincidence, the three found themselves working for the same organization. (More)

➤ Two teen heroes were honored with a national award for saving kids from drowning. Jasmine and JaCora Lashale Morris wasted no time in rushing to the rescue. (More)

➤ Disney’s cost of admission keeps creeping up. Ticket prices at both Disneyland and Disney World are up across the board, including five-day passes that have soared 16%. (More)

➤ A Georgia man ran out of a restaurant, leaving his date with the check, after witnessing her devour 48 oysters in one sitting. (More)

➤ The $1.76 billion Powerball prize has finally been awarded. The ticket was sold at a liquor store near Lancaster, California, ending a massive 35-day streak of drawing with no winner. (More)