Newsletter Jun 23, 2021

Tech giants like Amazon, Apple, Facebook and Google are anxious as lawmakers take aim at breaking up their stranglehold on the internet.

3 things you must know
  • Congress targeting Big Tech with legislation

    The fate of Big Tech companies lies in the hands of Congress starting today when lawmakers take up a series of proposals designed to address antitrust regulation and privacy issues. The outcome of the meetings will have a profound impact on the industry.

    The House Judiciary Committee has proposed five bills that, if sent to and passed in regular session, could lead to the breakup of giants like Apple, Facebook and Google. Lawmakers also seek to ban tech firms from acquiring competitors or prioritizing their own products or services over third-party apps, which have been clamoring for relief.

    WHAT WOULD THE BILLS DO TO THE FUTURE OF BIG TECH?

  • NASDAQ, oil prices soar; bitcoin plummets

    Recovering from last week's retreat, the NASDAQ reached record territory Tuesday in another positive sign for the still-rebounding U.S. economy. But it wasn't all good news as oil prices hit a record high and bitcoin continued its wild ride along with other cryptocurrencies.

    Wall Street enjoyed a surge that saw all three major U.S. indices experience gains for a second straight day. But that enthusiasm was tempered by the price of oil topping $75 a barrel -- the highest in over two years -- and bitcoin's fall below the 30,000 for the first time in five months following China's recent crackdown on crypto-mining.

    FIND OUT WHAT IS CAUSING THE FINANCIAL VOLATILITY 

  • Amazon Prime Day sparks online retail rally

    If you missed out on Amazon Prime Day, you might be the only one. The online retail giant says it set a single-day record by topping $5.6 billion in sales in the opening 24 hours of the 48-hour shopathon. 

    Monday's opening day broke the previous all-time mark set by the 2020 Thanksgiving Day Sale, which gained steam from pandemic-forced closings at brick-and-mortar stores. But with the U.S. on the path back to normal, Monday's numbers exceeded even Amazon's expectations, as well as those of other retailers who horned in on the event. Walmart, Target and Best Buy saw more than 20% increases in their online sales during the opening day of their rival programs.. 

    FIND OUT THE FINAL NUMBERS FOR AMAZON PRIME DAY

Markets
DJIA 33,945.58 0.20%
S&P 500 4,246.44 0.51%
Nasdaq Composite 14,253.27 0.79%
Japan: Nikkei 225 28,916.68 0.11%
UK: FTSE 100 7,090.01 0.39%
Crude Oil Futures 73.08 -0.79%
Gold Futures 1,783.40 0.34%
Yen 110.75 0.07%
Euro 1.19 -0.17%
* As of market close

Variants force vaccine booster shots

Fully vaccinated Americans will likely be required to receive a booster shot as soon as this fall to help guard against the raging Delta variant, which is threatening to undo many of the gains the nation has made against COVID-19. FDA officials are hoping another shot will do the trick.

The Delta variant, which now accounts for 20% of the new cases in the U.S., and other new mutant strains of the virus are forcing health officials to play things by ear:."It would be nice if it’ll turn out that it’ll be a year before anyone might need a booster, but we still don’t know,” Dr. Peter Marks of the FDA explained. “It could be more, it could be a little less but ... this is just something we’re gonna have to figure out as we go.”

WILL YOU NEED A COVID BOOSTER SHOT TO STOP VARIANTS?


Iran blames US for media hack

Two Iranian state-controlled media websites were shut down Tuesday, apparently the result of U.S. sanctions, as the Islamic state accuses America of working with Israel and Saudi Arabia "to block pro-resistance media outlets exposing the crimes of U.S. allies in the region."

Press TV and Al-Alam's websites displayed a single page with a statement that it "has been seized by the United States Government" and making references to US sanctions laws. Domains tied to Iran-backed groups in Iraq and to Hezbollah, the Lebanese military-political faction, were also frozen with the Justice Department message displayed, although the U.S. government has yet to confirm or deny any involvement.

FIND OUT IF AND WHY THE US IS BLOCKING IRANIAN MEDIA SITES


Invasion of the baby space squids

This may sound like the plot for a low-budget movie on the SyFy Network (and it probably is), but NASA has sent baby squids to the International Space Station for medical research. What could possibly go wrong?

As part of its study into how spaceflight affects the immune system. NASA partnered with SpaceX to send the inch-long cephalopods to the ISS earlier this month. Scientists are examining their immune systems, which are similar to humans. "If humans want to spend time on the Moon or Mars, we have to solve health problems to get them there safely,” said one researcher -- moments before being devoured by a giant space squid

SEE HOW ANIMALS PLAY A MAJOR ROLES IN SPACE TRAVEL


Animal attraction

We told you about NASA sending squids to the ISS, but they aren't the only animal astronauts. What was the first species to reach outer space?

Tuesday's answer: Jack Daniel's Distillery in Lynchburg, Tennessee is the top-selling whisky in the world, producing about 13 million cases annually.

SEND YOUR ANSWER HERE TO SHOW OFF YOUR KNOWLEDGE

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