Thursday, July 11, 2024

THURSDAY, JULY 11, 2024

Good Morning! On this day in 1798, President John Adams signed into law a congressional act re-establishing the United States Marine Corps. Previously called the Continental Marines, the force was disbanded after the signing of the Treaty of Paris in 1783.

One way we used to beat the summer heat as kids was to take advantage of the free air conditioning at the local bowling alley. One member of The Flyover team claims to have bowled a 217. Take the poll below and let us know your highest bowling score.

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Our sponsor today is GDR Labs; check out their offer on Liponine™ below.

Biden Faces New Calls to Withdraw

A day after Democrats appeared to unify behind President Biden, a flurry of new critics expressed doubts about Biden’s ability to lead the party in November.

Sen. Michael Bennet of Colorado became the first Senate Democrat to publicly say President Biden couldn’t win the election, and Congressional Black Caucus Member Rep. Marc Veasey broke with his caucus to encourage vulnerable Democrats to go their own way.

ABC News anchor George Stephanopoulos, who interviewed Biden last week, said on Tuesday that he didn’t think Biden could serve another four years. He later apologized for the comment.

Top Democrat fundraiser and international film star George Clooney published an op-ed on Wednesday calling for Biden to step down. “We are not going to win in November with this president,” the actor wrote.

Retirees Drive Growth in U.S. Cities

America’s 65-and-older population grew significantly in cities across America from 2020 to 2023, some by nearly 20%. Here’s a map of the growth.

Retirees moving to new homes are driving changes in some cities with especially notable 65+ growth, including Raleigh (+18.3%), Austin (+17.3) and Houston (+15.3%).

The overall 65-plus population rose 9.4% to about 59.2 million people in this time frame.

U.S. Census Bureau projections show that Americans 65 and older will make up more than 20% of the population by 2030 and are expected to reach 23% by 2050.

BBC Host’s Family Killed in Crossbow Attack

The wife and two adult daughters of BBC racing commentator John Hunt were killed in a crossbow attack on Tuesday night in Bushey, a quiet suburb northwest of London.

After an intense, hours-long manhunt, police detained 26-year-old Kyle Clifford, who reportedly used to briefly serve in the British Army.

Authorities believe the murders were a targeted attack. The motives are unclear, though British media mentioned that the suspect was an ex-boyfriend of one of the daughters.

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➤ Rep. Alexandria Ocasio-Cortez introduced articles of impeachment against Supreme Court Justices Clarence Thomas and Samuel Alito on Wednesday, accusing the two of “unchecked corruption” and causing a “Constitutional crisis.” (More)

➤ The House Oversight Committee subpoenaed three senior White House aides Wednesday, requesting they sit for depositions regarding President Biden’s overall health. (More)

➤ President Biden’s fundraising has taken a major hit since his poor debate performance, with sources saying contributions could drop by as much as half this month. The campaign says “grassroots” donations remain strong. (More)

➤ A U.S. marshal on Supreme Court Justice Sonia Sotomayor’s security detail shot and wounded an 18-year-old early Friday after the teen approached the marshal and pointed a handgun at him “in an apparent attempt to carjack him.” (More)

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$1B Startup Disrupting Retirement Industry

This Princeton grad’s startup raised $161M to help people plan for retirement.

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Get your financial advisor matches today.^{1. “Journal of Retirement Study Winter” (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.}

➤ Gregg Berhalter was fired on Wednesday as U.S. Men’s National Soccer Team coach after the team’s early elimination from Copa America. The U.S. Soccer Federation is now looking for the “right person” to lead the team. (See Details)

➤ NASCAR fined Bubba Wallace $50,000 for pushing another driver into the wall during the cooldown lap of Sunday’s Street racing event. (More)

➤ Los Angeles Clippers superstar Kawhi Leonard resigned from the 2024 Paris Olympics team on Wednesday to focus on the upcoming NBA season, according to USA Basketball officials. (More)

➤ Cincinnati Reds rookie Rece Hinds crushed a 458-foot home run to left field Tuesday night. Hinds is the first MLB player on record to have five extra-base hits in his first two games. (See video)

Daily Market Report 07/10/2024

▲	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	18,647.45	+1.18%
▲	SPX S&P 500	5,633.91	+1.02%
▲	DJI Dow Jones Industrial Average	39,721.36	+1.09%
▼	BTC Bitcoin	$57,683.24	-0.56%
▲	GOLD Per Ounce	$2,378.30	+0.77%
▼	HUBS HubSpot, Inc.	$492.31	-12.12%

➤ Big Stock Move: Hubspot stock dropped 12% Wednesday on news that Alphabet, Google’s parent company, abandoned its planned acquisition of the customer relationship management company. (More)

➤ Albertsons and Kroger released their list of 579 grocery stores across 19 states, along with six distribution centers and one dairy plant, that they plan to sell to C&S Wholesale Grocers as part of their proposed merger. (See List)

➤ CNN announced Wednesday it’s laying off 100 people, or 3% of its workforce, as part of a major digital revamp that includes launching a subscription product, pushing into AI, and reorganizing its newsrooms. (More)

➤ Meanwhile, in Silicon Valley, Intuit, the maker of TurboTax and QuickBooks, is cutting 1,800 jobs to focus on AI-powered products while also planning to hire 1,800 new engineering and customer-facing roles. (See Details)

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Annuity vs. 401(k): Which Can Be Better for Retirement?

Annuities and 401(k) plans are popular retirement savings vehicles. While similar in some ways, they also have important differences. Check out the pros and cons of each as you consider the approach for you. Learn more.

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➤ NASA astronauts Butch Wilmore and Suni Williams, who have been aboard the ISS for over a month due to issues with Boeing’s Starliner spacecraft, said they are “absolutely confident” the vehicle can safely bring them home. Their original date of return was June 14. (More)

➤ Europe’s Ariane 6 space rocket made its debut launch on Tuesday, but after a successful liftoff, the mission ended early due to an issue with the upper stage. (More)

➤ Microsoft’s new AI speech generator is so convincing when recreating human voices from brief audio samples that researchers deem it too risky for public release. (See Details)

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➤ Nearly 25% of 55-year-old Americans say they expect to become “silver squatters” requiring financial support from their family when they retire, and 21% say they’ll need housing support as well. (See Survey)

➤ Support for Israel’s actions in Gaza have grown by 12% among Republicans in the past few months, according to Gallup, and by 5% among Democrats and independents. (See Poll)

➤ Americans are split almost equally in their confidence in higher education. About a third of U.S. adults have a lot of confidence, another third has little to no confidence, and the final third are in the middle. (See Details)

➤ Five musket balls analyzed by archaeologists in Massachusetts indicate they were fired by colonial militia members in 1775 and may be linked to “The Shot Heard Round the World.” (See Photo)

➤ Colorado public health officials opened an investigation into the first confirmed case of human plague in Pueblo County, advising residents to immediately seek a healthcare provider if they experience plague symptoms. (See Precautions)

➤ Peruvian authorities recovered the mummified remains of William Stampfl last week, 22 years after the American mountaineer went missing on Mount Huascaran, Peru’s highest summit. (See Video)

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