Newsletter Sep 13, 2022

3 things you must know

Inflation expected to decline, but not enough to deter Fed
U.S. inflation likely slowed in August, largely thanks to falling gasoline prices, but not enough to satisfy policymakers, especially President Joe Biden, as high prices continue to inflict pain on American families and businesses. The consumer price index (CPI), a key measure of inflation, is expected to have fallen in August compared to the prior month, the first decline in nearly two years. The Labor Department will release the latest data today.
WHY THE FED IS READY FOR ANOTHER 75-BPS RATE HIKE

Biden administration pressures railroads, unions to settle
The Biden administration urged railroads and unions to reach a deal to avoid a railroad work stoppage, saying on Monday it would pose "an unacceptable outcome" to the U.S. economy that could cost $2 billion a day. Railroads, including Union Pacific, Berkshire Hathaway's BNSF, CSX, and Norfolk Southern, have until Friday to reach tentative deals with hold-out unions to avoid possible strikes, employer lockouts and congressional intervention.
WHAT A RAILROAD STRIKE WOULD MEAN FOR AMERICANS

Majority of Twitter shareholders vote in favor of sale to Musk
A majority of Twitter's shareholders voted in favor of the social media company's $44 billion sale to Elon Musk, who has informed Twitter he will not go ahead with the acquisition over the number of spam accounts on the platform. The two sides are scheduled to battle it out in court next month. Musk's $54.20-per-share deal is pricey now that Twitter shares are now hovering around $41.
THE LATEST ON THE SPAT BETWEEN MUSK AND TWITTER

Markets

DJIA	32,381.34	0.71%
S&P 500	4,110.41	1.06%
Nasdaq Composite	12,266.41	1.27%
Japan: Nikkei 225	28,617.52	0.26%
UK: FTSE 100	7,473.03	1.66%
Crude Oil Futures	86.99	-0.90%
Gold Futures	1,734.10	-0.37%
Yen	142.41	-0.30%
Euro	1.01	0.14%
* As of market close

Blue Origin crash a blow for space tourism

An uncrewed Blue Origin rocket carrying research payloads crashed shortly after liftoff Monday, but the capsule carrying experiments floated safely back to Earth. The incident marked a setback for Amazon chief Jeff Bezos' company as well as the space tourism sector. Blue Origin tweeted a video clip showing the moment the capsule fired emergency thrusters to separate itself from its booster rocket early, about a minute after launching from the company's base in west Texas.

WATCH THE HARROWING MOMENTS OF THE ABORTED MISSION

Ukraine advances met with Russian attacks

Ukraine accused Russian forces of attacking civilian infrastructure in response to a rapid weekend offensive by Ukrainian troops that drove Russia to abandon its main bastion in the Kharkiv region. Ukrainian officials said the targets of the retaliation included water facilities and a thermal power station in Kharkiv, and that they caused widespread blackouts. In the worst defeat for Moscow's forces since they were repelled from the outskirts of the capital Kyiv in March, thousands of Russian soldiers left behind ammunition and equipment as they fled.

SEE WHY THE CLOCK IS TICKING ON UKRAINE TO MAKE GAINS

Biden issues order for 'Cancer Moonshot'

President Joe Biden issued an executive order Monday boosting the biotech sector as part of his Cancer Moonshot initiative, which invokes the national effort to land a man on the Moon 60 years ago. Biden was in Boston to echo John F. Kennedy's famous 1962 "Moonshot speech," which led to a 1969 American lunar landing. This time, Biden is pushing for government-backed efforts to coordinate and fund a fight against cancer, with the goal of halving cancer death rates in the next 25 years.

SEE BIDEN'S PLAN FOR A SUCCESSFUL 'CANCER MOONSHOT'

Historic journey

It took seven years from JFK's Moonshot speech to the Apollo 11 lunar landing? How many days did it take after liftoff to reach the Moon?

Monday's answer: Queen Elizabeth II introduced the "dorgi" when one of her corgis mated with Princess Margaret's dachshund. She named the dog Fergus, and the mixed breed became wildly popular in the UK.