Good Morning! On this date in 1939, Lou Gehrig’s streak of playing 2,130 consecutive baseball games came to an end, a record that stood until 1995. Two months later, Gehrig gave his iconic farewell speech in Yankee Stadium. (See Video)
In yesterday’s Flyover, we erroneously reported that President Biden’s uncle was a cannibal. In fact, Biden implied his uncle was eaten by cannibals in Papua New Guinea. The statement drew a sharp rebuke from Papua New Guinea’s Prime Minister.
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The Federal Reserve said Wednesday that interest rates will stay at their two-decade high for now, but markets rose on news that despite continuing inflation, the Fed was still considering rate cuts later this year.
Fed Chair Jerome Powell also cheered investors, saying that the Fed didn’t plan on raising rates as its next move. The central bank still expects inflation to continue to cool, though more gradually than it thought three months ago.
“It is still likely,” Powell said, “that we will see that confidence and that there will be rate cuts.”
Speaker Johnson to Face Ouster Vote
Rep. Marjorie Taylor Greene (R-GA) says she will force a vote next week on whether to oust House Speaker Mike Johnson (R-LA).
Only two fellow House Republicans—Thomas Massie (R-KY) and Paul Gosar (R-AZ) have pledged to vote with Greene.
“Are you going to embrace Hakeem Jeffries like Mike Johnson has?” Massie asked at a press conference outside the Capitol. “Right now, they are both holding that gavel.”
The removal attempt appears doomed, however. Even if Greene is able to find more GOP votes, Democrat leader Hakeem Jeffries announced this week that his party will table any motion to remove Johnson from office.
Employers Sour on Ivy League Grads
U.S. employers are giving less priority to Ivy League graduates and turning toward public universities for their next generation of leaders, according to a Forbes survey of executives with direct hiring authority.
One third of those surveyed said they’re less likely to hire an Ivy League graduate than they were five years ago. Forty-two percent of respondents said they were more likely to hire public university grads.
Respondents said the shift comes down to overall preparedness for employment. Only 14% of those surveyed said Ivy League graduates were prepared. Twenty percent said Ivy League schools were doing worse.
The report also featured a list of ten public and non-Ivy League private schools that it considered to be the new “Ivies.” (See List Here)
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➤House Speaker Mike Johnson condemned the growing number of anti-Israel protests on campuses across the country, saying Congress would take action if universities don’t. (Protest Updates Here)
➤ Former President Trump discussed his plans for a potential second term with Time last month, saying he would shrink the U.S. civil service, increase deportations, and work directly with the Justice Department. (See Transcript)
➤ Arizona lawmakers repealed an 1864 law that banned nearly all abortions Wednesday after two Republican state senators joined 14 Democrats in a 16-14 vote. (More)
➤ More Americans have an unfavorable opinion of China now, according to a new Pew Research poll. Forty-two percent, up 4 points from last year, view China as an enemy. Only 6% think of China as a partner. (See Results)
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➤ A new report detailed how Ippei Mizuhara, a former interpreter for Los Angeles Dodgers slugger Shohei Ohtani, was able to steal and funnel $16 million to cover his gambling debts. (More)
➤ A colony of bees behind home plate delayed the Diamondbacks-Dodgers game for nearly two hours Tuesday until a beekeeper arrived, dispersed the swarm, and was asked to throw out the first pitch. (See Video)
➤ LSU gymnast and national champion Livvy Dunne announced a multi-million dollar NIL deal Wednesday with Passes, becoming the first college athlete to sign with the social media platform. (More)
➤ Love college athletics? LSU gymnast Olivia Dunne is currently the highest-ranked women’s college athlete in NIL valuation. Want to stay up to date on everything related to name, image, and likeness in sports? NIL-Wire is just the place for you. Sign up here with one click!
Market Report 05/01/2024
▲
NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations
15,861.78
+1.30%
▼
SPX S&P 500
5,015.34
–0.40%
▲
DJI Dow Jones Industrial Average
38,205.06
+1.03%
▼
BTC Bitcoin
$57.518.0
–3.20%
▲
GOLD Per Ounce
$2,325.20
+0.97%
▼
SBUX Starbucks Corp.
$74.44
–15.88%
➤ Big Stock Move: Starbucks stock dropped 16% Wednesday after the company missed its fiscal Q2 earnings estimates. The company said consumers were spending considerably less than they did last year. (More)
➤ Johnson & Johnson agreed to pay out $6.5 billion over 25 years Wednesday and settle nearly all of the lawsuits claiming its talc-based products caused ovarian cancer, pending approval of the claimants. (More)
➤ Former President Trump secured an additional $1.8 billion worth of shares in Trump Media as the parent company of Truth Social hit specified stock price benchmarks. (More)
➤ Ford announced a recall of nearly 243,000 of its Maverick pickup trucks Wednesday, saying a computer error may prevent the taillights from turning on. (More)
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➤ Robot maker Boston Dynamics covered one of its “Spot” robot dogs with blue cartoon-like fur and programmed it to dance in a choreographed duet with its regular metallic robo-dog. (See Dance)Editor’s note: If they were trying to make their robot dog less scary, they failed miserably. Yikes!
➤Researchers observing the Cat’s Paw Nebula detected one of the largest molecules ever identified outside our solar system in an area of space about 5,500 light-years from Earth. (See Photo)
➤ Asteroid hunters say they have identified 27,500 overlooked near-Earth asteroids by using cutting-edge technology they believe could potentially prevent a cataclysmic event. (More)
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➤ About one-fourth of American adults over 50 say they never expect to retire because they have no savings, and 70% are concerned about prices rising faster than their income, a new AARP survey shows. (See Report)
➤ A large majority of Americans view freedom of the press as highly important to a successful society, and many are concerned about potential restrictions, according to a new Pew Research survey. (See Poll)
➤ One in three Asian Americans report being the target of physical or verbal abuse in the past year, according to a new survey. Younger Asian-Americans were more likely to report discrimination. (See Survey)
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➤A rare white orca nicknamed “Frosty” was spotted swimming with other orcas off the coast of Southern California this week. Frosty is one of eight known “leucistic” whales in the world. (See Video)
➤ An Idaho man who kicked a bison and was then injured by the bison in Yellowstone National Park last week has pleaded not guilty to charges of disorderly conduct, being under the influence, and disturbing wildlife. (More)
➤ A bare-footed Florida man used his MMA fighting skills and subdued an alligator along a roadway as spectators cheered in approval. (See Video)
Fed Says Rate Cuts Still Likely in 2024
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