Newsletter Sep 11, 2024

Quick Six

Kamala Harris goes toe to toe with Donald Trump in debate
Kamala Harris walked across the stage and introduced herself to Donald Trump as they met for the first time Tuesday night in Philadelphia, but the next 90 minutes was far from cordial as the vice president went toe to toe with the former president. Harris more than held her own and managed to get under Trump's skin on a variety of topics. The polls are still coming in as they try to reach undecided voters who can swing the election their way.
SEE WHO MADE THE BEST POINTS ON THE KEY ISSUES

Senior Fed official proposes changes to banking regulations
A senior US Federal Reserve official proposed Tuesday a number of "broad and material" changes to new banking rules, toning down plans to tighten regulation and supervision. Fed vice chair Michael Barr first issued the proposed changes for banks with at least $100 billion in assets as part of a push to raise capital limits. The Fed has received numerous responses to its proposals, including some saying the proposed changes are too costly.
THE INTENDED IMPACT OF BARR'S PROPOSED CHANGES

US median household income increased by 4% in 2023
The median household income in the U.S. rose by an inflation-adjusted 4% last year, marking the first statistically significant increase since before the pandemic. The 2023 figure of $80,610 is up from $77,450 in 2022 and less than $81,201 in 2019. The rebound means a typical American household's purchasing power has overcome inflation behind the biggest price hikes in decades.
SEE HOW INCOMES HAVE INCREASED DESPITE INFLATION

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Markets

DJIA	40,736.96	-0.23%
S&P 500	5,495.52	0.45%
Nasdaq Composite	17,025.88	0.84%
Japan: Nikkei 225	35,870.33	-0.80%
UK: FTSE 100	8,205.98	-0.78%
Crude Oil Futures	66.14	0.59%
Gold Futures	2,547.70	0.18%
Yen	141.59	-0.61%
Euro	1.10	0.18%
* As of market close

Polaris Dawn readies for private spacewalk

SpaceX launched its historic Polaris Dawn mission on Tuesday that will catapult civilians into a high-radiation region of space and see them attempt the first-ever spacewalk by non-professional astronauts. The four-member crew aims to journey farther into the cosmos than any other manned mission in more than 50 years. On the mission's first day, they soared to a peak altitude of 870 miles before returning into a lower orbit. The highlight of the voyage is slated for as early as Thursday morning: the first ever spacewalk by civilian astronauts.

SPACEX'S PLAN AND BACKUP PLAN FOR SPACE WALK MISSION

Gen Z, Millennials priced out of parenthood

Two generations of Americans are increasingly opting against parenthood, and they blame it on the rising cost of raising children, according to a new study. MassMutual's latest consumer spending and saving index shows that nearly 1 in 4 millennials (ages 28-43) and Gen Z'ers (ages 18-27) say they do not plan to have children because of the high cost. But it's not just the idea that having children is cost-prohibitive for the younger generations. Forty-three percent responded that childless adults have more time and money to live comfortably.

SEE WHY SO MANY YOUNG COUPLES ARE BECOMING 'DINKS'

Sony releasing PlayStation 5 amid downturn

Sony said Tuesday it would launch an upgraded version of its flagship games console with better graphics and AI capabilities on November 7, calling it PlayStation 5 Pro. The Japanese firm's gaming division has endured tough times this year, with PlayStation 5 missing its sales targets and PlayStation announcing 900 job cuts in February. The gaming industry is struggling with a wider downturn as the investment that poured into the sector during Covid has largely dried up.

THE MAJOR UPGRADES SONY IS RELEASING IN PLAYSTATION 5

Extra point

What was the first home video game system? Who made it and when?

Tuesday's answer: CNN paid James Earl Jones $1 million to say "This is CNN." The network still uses the promo for the one-time fee.

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