THURSday, August 3, 2023

Good morning! On Aug. 3, 1492, Christopher Columbus set sail from Spain on a journey to reach India. Instead, two months later, he hit land in what is now the Bahamas and officially discovered the New World.

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Fitch Cuts U.S. Credit Rating

Fitch Ratings cut America’s credit rating to AA+ from AAA, citing “a steady deterioration in the standards of governance over the last 20 years,” particularly regarding government budgeting and spending.

The White House and Treasury Department both disagreed strongly with the move, calling it “arbitrary,” while blaming Republicans and Jan. 6.

For their part, Republicans blamed President Biden for refusing to negotiate spending cuts while pouring trillions into programs they oppose. On Wall Street, markets stayed flat while traders assessed.

Facebook Blocked Posts at White House Request

Facebook suppressed accurate information as well as opinions about Covid vaccines to avoid a “vaccine negative environment” at the request of the Biden administration, according to internal company documents.

Beyond informational posts, the documents showed that the White House also wanted to block jokes and memes making fun of the vaccines. The papers show Facebook resisted the pressure to some extent, but not all.

In addition to vaccine information, earlier documents show the government also pressured Facebook into removing posts claiming that Covid was man-made. Facebook has since ended its policy of censoring those posts.

Bad at Fitness? It’s Not You, It’s Your Genes

A new study shows that genetics plays a larger role than suspected in cardio-related athletic performance. Less than 31% of people had the right DNA to make the most of their training.

Researchers divided people randomly into two groups and had them do identical endurance training for eight weeks. About a third improved their running ability significantly. The others showed very little change.

The top performers had a combination of 19 key gene variants linked to the “ACTN3” gene associated with speed, power, and reduced injury. Those without the right genes shouldn’t count on a professional career in sports.

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➤ The Secret Service is warning of potential traffic problems in Washington D.C. today when Donald Trump makes his first court appearance for his latest indictments. Trump is scheduled to appear at 4 p.m., and so are the crowds. (More)

➤ Vice President Kamala Harris rejected an offer to debate Florida Gov. Ron DeSantis over the state’s history curriculum. Harris said she was so sure of her position that she saw no reason to defend it in a public debate. (More)

➤ The Republican National Committee released criteria for participating in its second debate in September, requiring candidates to meet higher polling and donor thresholds. It remains unclear if Donald Trump will participate at all. (More)

➤ The IRS will allow taxpayers to digitally submit all agency documents by 2024, the next filing season. This is a goal long sought by taxpayers and the IRS itself. By 2025, the IRS will also digitize its billion-document archives. (More)

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➤ The NFL is considering changing its kickoff rules to match those of XFL football. In the XFL, the two teams are just five yards apart downfield at kickoff, but only the kicker and the receiver can move before the ball is touched. (More)

➤ The Pac-12 college football conference is leaning towards a deal with Apple TV to stream its games. The Pac-12’s current TV contract is about to expire, and few buyers have stepped forward. (More)

➤ Alex Cardona, a 10-year-old girl with a deadly arm, was invited to a N.Y. Yankees batting practice after she beaned a moving politician in the back of the head with a perfectly thrown water balloon. (See Video)

Market Report 8/2/23

▼	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	13,973.45	–2.17%
▼	SPX S&P 500	4,513.39	–1.38%
▼	DJI Dow Jones Industrial Average	35,282.89	–0.98%
▲	BTC Bitcoin	$29,200.0	+0.01%
▼	DRVN Driven Brands Holdings Inc.	$15.20	–41.15%

➤ Big Stock Move: Driven Brands, owner of Meineke Car Care and Maaco, saw its stock drop 41% Wednesday after reporting a big earnings miss. (More)

➤ A dozen California officials sent an open letter to Taylor Swift urging her to postpone her six sold-out Los Angeles concerts to show support for striking hotel workers. Her first L.A. concert is tonight. (More)

➤ Federal agents carried out a search warrant on World Wrestling Entertainment chief Vince McMahan to investigate allegations that he paid millions to women who accused him of misconduct. (More)

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➤ Worldcoin says it will allow other organizations, including governments, to use its new iris-scanning ID technology to enable instant digital verification of people’s identities for financial and other services. (More)

➤ An analysis of Peruvian fossils dating back 39 million years may belong to the heaviest animal that ever lived, a colossal whale that might have weighed up to 375 tons. (More)

➤ Amazon is adding video telemedicine visits in all 50 states to the virtual health service it launched last fall. The virtual clinic will be available around the clock but doesn’t accept insurance. (More)

➤ The jackpot for the Mega Millions lottery is now up to $1.25 billion, with no winner since April. The next drawing is Friday, and the odds of winning are 1 in 300 million. (More)

➤ On the other hand, 11 women sanitation workers in India pooled their money to buy a local lottery ticket. They hit the jackpot and will now split the prize of $1.2 million. (More)

➤ Tuesday night saw the first of two giant supermoons occurring this August, offering photographers worldwide a chance to shine. The next supermoon will be the evening of Aug. 30. (See Photos)