Newsletter Apr 16, 2024

Quick Six

Trump hush-money trial under way as jury selection begins
Former President Donald Trump stepped into the legal spotlight as his long-awaited trial kicked off in New York City, marking an unprecedented moment in American history. Charged with a 34-count indictment related to a 2016 hush money payment to porn actress Stormy Daniels, Trump pleaded not guilty to allegations of falsifying business records during the presidential campaign. Jury selection began Monday and could be drawn out for two weeks as Trump's legal team and prosecutors debate procedural matters.
US PRESIDENTIAL HISTORY IS MADE IN NYC COURTROOM

US retail sales see larger increase than expected in March
US retail sales grew more than expected last month, government data showed on Monday, defying predictions of weaker consumer demand. Retail sales picked up by 0.7% in March to $709.6 billion, after February's increase was revised to 0.9%. From a year ago, the March figure was 4.0% higher. Boosting the figure was a 2.1% rise in gas station sales from February to March.
HOW RISING GAS PRICES IMPACTED MARCH RETAIL SALES

US grants Samsung up to $6.4 billion to make chips in Texas
The US on Monday announced grants of up to $6.4 billion to South Korean semiconductor giant Samsung to produce cutting-edge micro-processing chips in Texas. The award is the latest from the US government as it looks to revive the country's chip manufacturing industry, especially high-end semiconductor chips -- considered the lifeblood of the modern global economy.
SEE HOW THE US HAS BEEN ISSUING GRANTS FOR CHIPS

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Markets

DJIA	37,735.11	-0.65%
S&P 500	5,061.82	-1.20%
Nasdaq Composite	15,885.02	-1.79%
Japan: Nikkei 225	39,232.80	-0.74%
UK: FTSE 100	7,965.53	-0.38%
Crude Oil Futures	85.65	-0.01%
Gold Futures	2,399.30	1.06%
Yen	154.23	-0.03%
Euro	1.06	0.02%
* As of market close

Israel weighs response; Biden calls for truce

President Joe Biden said Monday he wants to prevent the conflict from spreading in the Middle East, where Israel is waging war in Gaza and fending off Iranian attacks. Biden called for an immediate ceasefire and a return of hostages taken by Hamas militants in their deadly attack on Israel on Oct. 7. Israel is weighing its response to Iran's massive drone and missile attack, which was in retaliation for a presumed Israeli strike on an Iranian consulate building in Syria that killed a top general.

PRO-PALESTINIAN PROTESTERS SHUT DOWN GOLDEN GATE

Biden gains ground on Trump in latest poll

President Joe Biden has narrowed Donald Trump's initial polling lead, according to a recent survey, which suggests that the Democratic base is beginning to unify behind him despite ongoing concerns about the nation's economy and his age. Biden and Trump are in a virtual deadlock, with the former president maintaining a slight edge of 46% to 45%. This marks an improvement for Biden compared to late February's polling numbers, when Trump held a 48% to 43% lead.

WHY THE TIDE IS TURNING BIDEN'S WAY AS TRUMP SLIDES

Samsung regains title for smartphone sales

Samsung regained its position as the top smartphone seller, wresting back the lead from Apple as Chinese rivals close the gap on both market leaders, industry tracker International Data Corporation (IDC) reported Monday. South Korea-based Samsung overtook Apple as worldwide smartphone shipments grew nearly 8 percent in the first quarter of this year to 289.4 million, IDC said, citing its preliminary data.

NEW DATA INCLUDES GOOD NEWS FOR SMARTPHONE MARKET

Extra point

What company first used the term "smartphone" in its marketing? When?

Monday's answer: O.J. Simpson was acquitted of double murder in 1995, but convicted of armed robbery and kidnapping in Las Vegas in 2008.

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