Newsletter Oct 24, 2023

Quick Six

US accuses Iran of involvement in attacks against Israel
The US accused Iran on Monday of "actively facilitating" attacks on its bases in the Middle East as it confirmed it had sent a small number of military advisors to Israel. US concerns have been rising about the potential for escalation of the war between Israel and Hamas militants, although Washington has rejected calls for a ceasefire as it says that ally Israel has a right to self-defense, and a pause would "give Hamas the ability to rest, to refit and to get ready to continue launching terrorist attacks against Israel."
SEE THE STRONG WORDS THE US IS USING AGAINST IRAN

UAW adds Stellantis plant to expanded auto workers strike
The US auto workers union halted work at a giant Stellantis truck plant on Monday, expanding a five-week strike hitting Detroit automakers. The United Auto Workers action means that 6,800 workers walked off the job in Sterling Heights, Michigan, where the European auto giant assembles the highly profitable Ram 1500 pickup trucks. The plan calls for about 500 workers at plant gates each day for assigned strike shifts for UAW Local 1700.
SEE HOW UAW'S STAGED STRIKE IS HAVING AN EFFECT

Bitcoin tops $30,000 price mark and more during hot streak
Bitcoin, the world's largest crypto asset by market capitalization, saw a seven-day double-digit gain this week, as it recaptured the $30,000 price level. Monday night, BTC was trading at $31,960, painting a huge gain of around 6.5% over the previous 24 hours and a double-digit spike of over 12% in the past seven days.
SEE WHY BITCOIN IS EXPERIENCING A RECENT SURGE

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Markets

DJIA	32,936.41	-0.58%
S&P 500	4,217.04	-0.17%
Nasdaq Composite	13,018.33	0.27%
Japan: Nikkei 225	30,717.12	-0.91%
UK: FTSE 100	7,374.83	-0.37%
Crude Oil Futures	86.08	0.69%
Gold Futures	1,988.60	0.04%
Yen	149.61	-0.06%
Euro	1.07	0.02%
* As of market close

House Republicans hold speaker auditions

Republican representatives gathered Monday night in a closed-doors meeting to hear the latest candidates for Speaker of the House. The new round of discussions, necessitated after the two previous GOP nominees failed to get enough support, featured nine representatives running for the post. Following the results of Monday's meeting, the conference will begin voting at 9 a.m. EST Tuesday in a secret ballot. If it produces a nominee, there could be a floor vote as soon as today.

CAN HOUSE REPUBLICANS RALLY AROUND ONE SPEAKER?

China's top diplomat to make rare US visit

China's top diplomat will pay a rare visit to Washington this week, the US announced Monday, paving the way for a potential visit by Chinese President Xi Jinping aimed at keeping tensions in check. Foreign Minister Wang Yi, the highest-ranking Chinese official in the US capital in nearly five years, will visit from Thursday through Saturday against a backdrop of friction over trade, Ukraine, the Middle East, Taiwan and China's assertive actions at sea near the Philippines.

SEE THE LONG LIST OF CONFLICTS FACING THE US AND CHINA

Hochul's wind-farm veto a blow NY's goals

New York Governor Kathy Hochul vetoed a bill last week that would have expedited the construction of an offshore wind farm off the southern coast of Long Island. The multi-billion-dollar project, which has already faced numerous delays, must now navigate an uncertain regulatory environment that threatens the project's survival, as well as New York's clean energy goals more broadly.

HOCHUL'S VETO COULD CAST A SHADOW OVER NY'S ENERGY

Extra point

Who invented the first automatic wind turbine that generates electricity?

Monday's answer: The first science fiction movie was the French silent film "Le Voyage Dans La Lune", or "A Trip to the Moon", released in 1902.

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