Newsletter Jul 14, 2023

Quick Six

Is US economy showing signs that a recession is avoidable?
Signs are emerging that the US economy may not enter into a recession in 2023, as previously predicted. Economic observers said the U.S. economy may achieve a so-called soft landing, which involves bringing the rate of inflation down to a targeted 2% rate without a recession. The June report on the Consumer Price Index indicated the price of goods increased by 3% over the past year. It was the smallest such increase since March 2021.
WHAT ANALYSTS SAY ABOUT THE ODDS OF A RECESSION

Wall Street continues climb as Nasdaq hits 2023 high point
World stock markets rallied Thursday and the euro hit a 16-month dollar peak, after easing US inflation stoked hopes the Federal Reserve's campaign of interest rate hikes are ending. The Dow Jones and S&P 500 saw modest gains (see chart below), while the Nasdaq Composite rose 1.58% to its highest point of 2023.
IS THE FED'S INFLATION FIGHT ENTERING FINAL STAGES?

Musk launches xAI, makes bold predictions about the future
Twitter owner Elon Musk launched a new artificial intelligence (AI) company called xAI on the same day, noting that the firm would "understand the universe." The tech mogul also predicted that "digital superintelligence" would arrive in the next five or six years as the race toward AI dominance heats up with other tech giants.
SEE MUSK'S THOUGHTS ON 'DIGITAL SUPERINTELLIGENCE'

You Might Like

Markets

DJIA	34,395.14	0.14%
S&P 500	4,510.04	0.85%
Nasdaq Composite	14,138.57	1.58%
Japan: Nikkei 225	32,419.33	1.49%
UK: FTSE 100	7,440.21	0.32%
Crude Oil Futures	77.20	0.40%
Gold Futures	1,965.20	0.07%
Yen	137.99	-0.05%
Euro	1.12	0.01%
* As of market close

First non-prescription birth control pill in US

US health authorities on Thursday approved the first over-the-counter birth control pill in the country, dramatically widening options for women in the US where abortion rights are increasingly under assault. Opill will become available in pharmacies and supermarkets as well as online early next year. More than 100 countries already allow contraceptive pills to be sold over the counter. But in the US approval comes after the Supreme Court last year scrapped federal abortion protections.

WILL OPILL BE A GAME-CHANGER FOR ABORTION RIGHTS?

Trump could face up to 9 years in docs case

Former President Donald Trump could be sentenced to somewhere between 18 months to nine years in prison if convicted of his charges in his classified documents case. In the past six years, at least seven who pleaded guilty to violating the same provision of the Espionage Act of 1917 that Trump is charged under received similar sentences. More than half received lesser sentences than the government requested.

SEE HOW OTHERS WERE SENTENCED FOR SIMILAR CHARGES

China plans to land on the moon by 2030

In a bid to become the second nation to land humans on the moon, China is gearing up for a manned lunar mission that is expected to take place before 2030. The mission is part of a project to set up a lunar research station for long-term research. Although China was late to the world's space race, the country has managed to catch up and make noteworthy strides, spending billions on advancing its space program.

MOON LANDING A GIANT LEAP FOR CHINA'S SPACE PROGRAM

Extra point

Who was the last person on the moon? When and what space mission?

Thursday's answer: Neptune was the first planet to be discovered by mathematics rather than observation. It was visually confirmed in 1846.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.