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MONDAY, JULY 3, 2023
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Good morning! July 3rd looms large in American history. In 1863, this day became famous as the “high-water mark” of the Confederacy when Pickett’s Charge came up short at Gettysburg. Repulsed by Union troops, the rebels spent the rest of the war in retreat.
In today’s edition, we’re covering the White House seeking a new way to forgive student loans, Apple hitting a record $3 trillion in market value, and a controversial plan to build the world’s tallest flagpole.
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Student-Loan Ruling Sparks New Plan
The Supreme Court ruled against the Biden administration’s student loan forgiveness plan, effectively killing the $400 billion effort.
In a 6-3 decision along partisan lines, the justices ruled that federal law doesn’t allow the Department of Education to cancel student debt unilaterally without Congress’ approval.
President Biden immediately implemented a new, different plan to ease repayment of the loans, potentially creating a new student-loan entitlement program for future borrowers as well as current debtors. | Bombers Hit Three D.C. Businesses
Three explosions rocked Washington D.C. businesses on Sunday morning, and police are asking for the public’s help in finding the suspects.
The “Molotov-style cocktail” attacks against a bank, a Nike retail outlet, and a Safeway grocery store came within 15 minutes of each other, and suspects drove away each time.
All three businesses were closed at the time, leading police to believe businesses were targeted, not people. A reward of $10,000 has been offered for any information leading to arrests. | July Fireworks Season is Here, Beware!
Americans spent $2.3 billion on fireworks over the July 4th holidays last year, and the fun came with another cost: thousands of people went to the emergency room.
Injuries were down 35% last year from a pandemic high in 2020, but over 10,000 people were hurt. Last year, 11 people died from fireworks.
Make sure to follow standard safety rules before setting off small explosives near your house. Here’s a list of tips to help keep you and your family safe this Independence Day.
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➤ Donald Trump attracted a crowd of nearly 50,000 people for a festival-like rally in Pickens, S.C. this weekend. South Carolina is a crucial early primary state and the home turf of Trump rivals Nikki Haley and Sen. Tim Scott. (More) ➤ House Republicans have requested testimony from nearly a dozen Justice Department and FBI officials involved in the investigation of Hunter Biden. The list includes U.S. Attorney David Weiss, who ran the investigation. (More) ➤ A mob in France attacked the home of a Paris suburb mayor and injured his wife and children as they fled during a fifth night of rioting across France. The riots were set off by the police shooting of an Algerian teenager last Tuesday. (More) ➤ The Supreme Court ruled 6-3 in favor a Colorado web designer who refuses to work on gay wedding projects, citing her religious convictions. The designer argued successfully that a state law requiring such work violated her free speech rights. (More)
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➤ The Texas Rangers lead Major League Baseball with four starters in next week’s All-Star Game, a franchise record. The Rangers will have a starter at all infield positions except first base. (See List of All-Star Selections) ➤ Los Angeles Angel Shohei Ahtani hit a 493-foot home run this weekend, his longest ever and the longest by any player this season. Ohtani became the first player since 2013 to hit 30 home runs by July 1. (More) ➤ ESPN laid off 20 on-air stars as part of a Disney-wide effort to cut costs. Among those let go are basketball announcer Jeff Van Gundy, analyst Jalen Rose, and 27-year veteran Suzy Kolber. (More)
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Market Report Previous
Week
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Nasdaq Natl. Assoc. of Securities Dealers Automated Quotations |
13,787.92 |
+1.45% |
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SPX S&P 500 |
4,450.38 |
+1.23% |
▲ |
DJI Dow Jones Industrial Average |
34,405.99 |
+0.83% |
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BTC Bitcoin |
30,727.0 |
+0.21% |
▲ |
AAPL Apple |
193.97 |
+3.91% |
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➤ Big Stock Move: Apple became the first publicly-traded company in history to hit $3 trillion in market value when the stock market closed Friday. The next closest in value is Microsoft, valued at $2.5 trillion. (More) ➤ The final “Indiana Jones” movie opened to a disappointing $60 million in its first weekend, down 40 percent from the previous installment. The movie cost nearly $300 million before factoring in marketing costs. (More) ➤ Speaking of the movie business, the Screen Actors Guild agreed to a 12-day extension until July 12 to continue negotiations before going on strike. The last time both actors and writers were on strike was in 1988. (More)
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➤ Twitter has imposed a daily limit on how many posts a user can read each day, prompting confusion and backlash among users. Owner Elon Musk described the new restrictions as a “temporary measure” to combat AI-driven misuse of Twitter. (More) ➤ Ransomware attacks have now compromised the personal data of more than 15 million Americans. The number of victim organizations stands at 140 and growing, including state governments and financial and educational institutions. (More) ➤ Australia became the first country to allow doctors to prescribe psychedelic drugs for depression or PTSD. Beginning this weekend, doctors can prescribe MDMA, also known as ecstasy, and psilocybin mushrooms. (More)
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➤Actor Alan Arkin died this weekend at his home in California at 89. A four-time Oscar nominee, he won for Best Supporting Actor in 2007 for his role as the eccentric grandfather in “Little Miss Sunshine.” (More) ➤ A block party in Baltimore left two dead and 28 wounded on Sunday when gunfire erupted just after 12:30 A.M. Also that night, a shooting in Wichita injured seven people, with two others hospitalized after being trampled as people rushed out of a nightclub. (More) ➤A proposal to build the world’s tallest flagpole — taller than the Empire State Building — has divided a tiny Maine town. The $1 billion plan includes a patriotic theme park and has sparked protests from residents. (More)
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Daily Quote
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““(If) liberty means anything at all, it means the right to tell people what they do not want to hear.”
— Justice Neil Gorsuch in his ruling on a web designer’s right to reject working on same-sex marriages.
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Today’s Trivia
Where is the tallest flagpole in America?
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Show me the answer
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