Newsletter Oct 26, 2023

Quick Six

Mike Johnson, fourth GOP nominee, elected House Speaker
After more than three weeks of chaos and internal fights in the Republican Party, a new Speaker of the House has been elected. Rep. Mike Johnson, an ultra-conservative from Louisiana, climbed to the post after receiving 220 votes from the House floor -- the first of four GOP nominees to get the nod. Johnson, 51, was among the group of Republicans who supported a lawsuit to overturn the 2020 election results. His candidacy to Speaker of the House was endorsed by former President Donald Trump.
MIKE WHO? LITTLE-KNOWN REPUBLICAN GETS THE GAVEL

New home sales surprise forecasts with a September surge
Sales of newly constructed homes in the U.S. unexpectedly rose 12% in September to the strongest pace since February 2022, despite mortgage rates at the highest level in more than 20 years. Sales of new single-family houses increased to an annual rate of 759,000 from a revised 676,000 in August, the Census Bureau and the Department of Housing and Urban Development said in a statement Wednesday, ahead of expected sales of 680,000.
WHY MANY HOMEBUYERS PREFER NEW CONSTRUCTION

Consumers pay out $130 billion in credit card interest, fees
American consumers paid a record $130 billion in credit card interest and fees in 2022, a government agency says. Credit card companies charged $105 billion in interest and over $25 billion in fees, the Consumer Financial Protection Bureau said Wednesday in a report. Credit card debt surpassed $1 trillion for the first time.
WHY AMERICANS ARE STILL RELYING ON CREDIT CARDS

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Markets

DJIA	33,035.93	-0.32%
S&P 500	4,186.77	-1.43%
Nasdaq Composite	12,821.22	-2.43%
Japan: Nikkei 225	30,602.44	-2.13%
UK: FTSE 100	7,414.34	0.33%
Crude Oil Futures	85.21	-0.21%
Gold Futures	1,995.50	0.03%
Yen	150.40	0.12%
Euro	1.05	-0.18%
* As of market close

SBF expected to testify in his defense today

Sam Bankman-Fried, the embattled crypto mogul who founded the once-billion-dollar crypto empire FTX, will testify in his own criminal trial today, as confirmed by defense attorney Mark Cohen, after three witnesses have been called by the defense team. Bankman-Fried, whose case has faced intense scrutiny due to explosive testimonies from former colleagues in recent weeks, will take the stand aFter the testimony of three witnesses, including ex-girlfriend Caroline Ellison.

SEE THE TOUGH QUESTIONS SBF WILL FACE ON CROSS EXAM

At least 22 killed in Maine shooting spree

At least 22 people were killed and "many, many more" were injured in shootings in the city of Lewiston, Maine on Wednesday evening, local officials reported, with police saying that the gunman was still at large as of midnight. The shooting spree that took place at a bowling alley and also at a local restaurant and bar. Local police posted a photo on Facebook of a bearded man wearing a brown top, blue pants and carrying a semi-automatic style weapon inside the bowling alley.

GET THE LATEST UPDATES ON THE MASS SHOOTING IN MAINE

Consumers eating heavy-metal chocolates

New tests conducted by Consumer Reports showed that one-third of chocolate products have an unhealthy concentration of lead and cadmium. CR's experts tested 48 products -- cocoa powder, chocolate chips, milk chocolate bars, dark chocolate bars, brownies, chocolate cake and hot chocolate -- and found 16 with high levels of the metals. Exposure to these metals can damage the brain and nervous system.

SEE THE SAFEST CHOCOLATE PRODUCTS FOR HALLOWEEN

Extra point

Celebrating its 100th anniversary, what's the top-selling Halloween candy in the US and the most popular candy bar brand in the world?

Wednesday's answer: Before becoming a pro wrestler, Dwayne "The Rock" Johnson played football at the University of Miami (1991-95).

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