Newsletter Jun 28, 2022

3 things you must know

G7 leaders to unveil new sanctions, cap Russian oil today
The Group of Seven rich democracies will commit today to a new package of sanctions meant to raise pressure on Russia over its war in Ukraine, and will finalize plans for a price cap on Russian oil, a senior U.S. official said. The news came as Russia, which stepped up its attacks on Ukraine, has plunged into its first sovereign default in decades. G7 leaders, who met remotely with Ukrainian President Volodymyr Zelenskiy, hope the price cap will hit the Kremlin's war chest while actually lowering energy prices.
GET THE LATEST ON RUSSIA'S MISSILE STRIKE ON A MALL

Four major US banks hike dividends following stress test
Four major US banks -- Morgan Stanley, Goldman Sachs, Bank of America and Wells Fargo -- hiked their dividends on Monday after clearing their annual stress test exercise last week. The Federal Reserve said last week that the country's largest lenders could easily weather a severe economic downturn, giving them a clean bill of health and paving the way for them to raise dividends.
SEE HOW MUCH THE BIG BANKS HIKED THEIR DIVIDENDS

New home sales get surprise boost to snap six-month slide
The number of new U.S. home sales unexpectedly increased in May despite the housing market being buffeted by rising mortgage rates and the Federal Reserveâ€™s recent hawkish activities. Data released Monday found that home sales rose slightly in May, up 0.7% compared to a 2.4% drop in April, ending a six-month streak of declining sales as buyers pulled back from the market.
IS THE HOUSING MARKET FINALLY GOING TO LEVEL OUT?

Markets

DJIA	31,438.26	-0.20%
S&P 500	3,900.11	-0.30%
Nasdaq Composite	11,524.55	-0.72%
Japan: Nikkei 225	26,825.36	-0.17%
UK: FTSE 100	7,258.32	0.69%
Crude Oil Futures	110.80	1.12%
Gold Futures	1,825.10	0.02%
Yen	135.18	-0.22%
Euro	1.06	-0.03%
* As of market close

SCOTUS ruling draws battlelines on states

Battles over abortion shifted to state courts on Monday after the U.S. Supreme Court overturned the constitutional right to the procedure nationwide, as judges blocked statewide bans in Louisiana and Utah and clinics in Idaho, Kentucky, Mississippi and Texas sued seeking similar relief. The six are among the 13 states with "trigger laws" designed to ban or severely restrict abortions once the Supreme Court overturned the landmark 1973 Roe v. Wade ruling that recognized a right to the procedure, as it did on Friday, sparking nationwide protests.

FIND OUT WHICH STATES ARE SEEING THE TOUGHEST FIGHTS

Missouri train derailment results in deaths

At least three people died and about 50 were injured Monday when an Amtrak train hit a dump truck and derailed in Mendon, Missouri, about 100 miles east of Kansas City. There were about 243 passengers and 12 crew members onboard the full train operating between Los Angeles and Chicago. Eight train cars and two locomotives derailed and tipped.

GET THE LATEST DETAILS IN THE MISSOURI TRAIN DERAILMENT

Silence can increase stress for phone users

Some people put their phones in silent mode thinking it can help them avoid distractions. But for those who have FOMO (fear of missing out), it can actually increase stress, researchers have found. Smartphone users who tune out from their non-stop notifications for some peace and quiet often spend more time worrying about what their missing, according to a new study, particularly for those on social media.

SEE WHAT THE SURVEY SAID ABOUT US SMARTPHONE HABITS

Long arm of the law

What was the first state to ban abortion, more than 200 years ago?

Monday's answer: The G7 nations account for only 10% of the world's total population but controls about 60% of the world's total wealth.

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