Newsletter Jul 13, 2023

Quick Six

US consumer inflation falls as the Fed ponders next move
Annual consumer inflation in the US cooled in June to its lowest rate since early 2021, the Labor Department said Wednesday -- an encouraging sign for policymakers battling to lower cost pressures. The key inflation gauge, the consumer price index (CPI), rose 3% from a year ago last month, down from 4% in May. While the Fed has signaled that further rate hikes are likely, the June CPI report will heighten doubts about future increases.
SEE HOW US INFLATION HAS BECOME A 'CORE' PROBLEM

Amazon Prime Day ends with record-high revenue projected
Amazon's annual 48-hour shopping spectacle that entices millions of online shoppers ended Wednesday, and it is expected to shatter global revenue records it set last year. In 2022, Amazon Prime Day had an astonishing $12.1 billion haul after almost 300 million items were sold during its two-day shopping event. The revenue was about 13 times higher than earned in its 2015 debut.
SEE THE FORECASTS FOR THE 2023 AMAZON PRIME DAY

Canadian dock strike having heavy impact on supply chain
A strike by the International Longshore and Warehouse Union Canada entered its 12th day on Wednesday with few signs of a settlement in sight. The union is striking at 30 ports in Canada, including Port of Vancouver and Port of Prince Rupert. In total, the affected ports process "$800 million in critical cargo" every day.
HOW CANADA'S JUST-IN-TIME DELIVERY IMPACTS SUPPLY

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Markets

DJIA	34,347.43	0.25%
S&P 500	4,472.16	0.74%
Nasdaq Composite	13,918.96	1.15%
Japan: Nikkei 225	31,943.93	-0.81%
UK: FTSE 100	7,416.11	1.83%
Crude Oil Futures	75.86	1.38%
Gold Futures	1,963.10	1.34%
Yen	138.43	-0.06%
Euro	1.11	0.04%
* As of market close

Biden praises Zelensky, reassures Ukraine

US President Joe Biden hailed Ukraine's "astounding" courage Wednesday in talks with Ukrainian President Volodymyr Zelensky, who set aside earlier frustrations with NATO to profusely thank the US for its help. Following tensions at the Vilnius summit over NATO's rejection of Ukrainian pressure to be given accelerated membership in the alliance, Biden acknowledged the "frustration" sometimes felt by Zelensky. But he reassured Zelensky that Ukraine has the full support of the US.

HOW BIDEN HANDLED ERDOGAN, ZELENSKY AT NATO SUMMIT

Chinese-backed hackers breach US emails

Chinese-based hackers seeking intelligence information breached the email accounts of a number of US government agencies, Microsoft said. Microsoft said Storm-0558 gained access to email accounts at approximately 25 organizations, including government agencies, but it did not identify the targets. A US State Department spokesperson said the agency had "detected anomalous activity" and had taken action.

HOW MICROSOFT TIED THE STORM-0558 HACKERS TO CHINA

Webb Telescope takes fitting birthday pic

NASA unveiled a spectacular new image Wednesday depicting the birth of stars to mark the first anniversary of the James Webb Space Telescope's science operations. The picture is of the Rho Ophiuchi cloud complex, the nearest star-forming region to Earth, whose proximity at 390 light years allows for a crisp closeup uncluttered by foreground stars, including jets of red gas bursting into the cosmos.

CHECK OUT AMAZING IMAGES TAKEN IN WEBB'S FIRST YEAR

Extra point

What was the first planet in the solar system to be discovered by mathematics rather than visual observation? When was it confirmed?

Wednesday's answer: The July 14 Bastille Day Parade has rolled down the Champs Elysees in Paris since 1880, Europe's oldest annual march.

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