Newsletter Jul 10, 2024

Quick Six

Democrats meet to discuss Biden's future at top of ticket
President Joe Biden faced a critical test of support for his faltering reelection bid Tuesday as Democrats in Congress met to discuss whether he should step down in the battle against Donald Trump. Biden, 81, seeks to shore up his international support in a speech at NATO's 75th anniversary summit in Washington, his own party is debating his future. House Democrats met with members over Biden's age and health -- exacerbated by his disastrous debate performance against Trump -- threatens their seats in November.
SEE WHAT DEMOCRATS SOUNDED OFF ABOUT IN MEETING

Fed making 'modest' progress on inflation, according to data
The Federal Reserve is making "modest" progress in its inflation fight, Fed chair Jerome Powell told lawmakers Tuesday. Inflation has eased since it peaked in 2022, but progress stalled in the first quarter of this year, effectively putting the Fed's fight on pause. The data in the second quarter has been more encouraging, prompting some optimism from policymakers in recent weeks.
WHAT POWELL SAID ABOUT THE ODDS OF CUTTING RATES

Small business confidence hits a six-month high in the US
Small-business confidence in the United States increased in June to a six-month high, providing glimmers of hope in the industry still struggling to recover since the COVID-19 pandemic. Certain sectors, however, still face tight labor markets, and anxiety over inflation continues to prevail, with an increasing number of owners planning to raise workers' salaries in the next three months.
WHICH SECTORS ARE SEEING THE FASTEST GROWTH?

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Markets

DJIA	39,291.97	-0.13%
S&P 500	5,576.98	0.07%
Nasdaq Composite	18,429.29	0.14%
Japan: Nikkei 225	41,580.17	1.96%
UK: FTSE 100	8,139.81	-0.66%
Crude Oil Futures	81.70	0.36%
Gold Futures	2,370.20	0.10%
Yen	161.30	-0.01%
Euro	1.08	0.02%
* As of market close

Maiden launch for Europe's Ariane 6 rocket

Europe's new Ariane 6 rocket successfully blasted off for the first time on Tuesday, releasing satellites into orbit and restoring the continent's independent access to space. European space efforts have suffered a series of blows, including four years of delays to Ariane 6, that have robbed the continent of its own way to launch missions into space for the past year. But with the successful inaugural flight of Europe's most powerful rocket yet, European space chiefs were ready to reach liftoff.

SEE WHAT THE LAUNCH MEANS FOR EUROPEAN SPACE TRAVEL

Senate seeks bill to test Trump immunity

Senate Majority Leader Chuck Schumer said that Senate Democrats will push forward with a legislation aimed at revoking the immunity granted to former President Donald Trump under a recent Supreme Court decision. Schumer, leveraging Congress's authority to regulate the judiciary, said that Democrats are developing a bill to reclassify Trump's efforts to overturn the 2020 election results as "unofficial acts."

WHAT ARE THE CHANCES THE SENATE CAN PASS THE BILL?

Disney expanding its cruise fleet to Japan

The Walt Disney Company revealed Tuesday its plans to add another vessel to its fleet of cruise ships, and this time around the new ship will be sailing from Tokyo. The new ship, which will be modeled after the largest vessel in Disney's fleet, the Wish, is a part of the company's $60 billion, 10-year-expansion plan, that will include the company's cruise business and theme parks. The projected launch is in 2028.

SEE DISNEY'S AGGRESSIVE EXPANSION OF ITS CRUISE FLEET

Extra point

Name the first transatlantic cruise ship. When was its maiden voyage?

Tuesday's answer: The Apple Watch was the brain child of former chief designer Jony Ive. Work began in 2011 before its official launch in 2014.

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