Newsletter Sep 26, 2024

Quick Six

House approves stopgap spending bill to fund government
The House Of Representatives voted convincingly to approve a stopgap spending measure to fully fund the government for three months, sending the bill for passage to a receptive Senate. The House voted 341 yeas (209 Democrats, 132 Republicans) to 82 nays (all Republicans). The package heads to the Senate today, where it is expected to be passed and presented to President Joe Biden for his signature. The move would pass the issue of a government shutdown beyond the November presidential election to Dec. 20, setting up a potential post-election showdown to fund the government for the incoming administration and Congress.
WHAT HOUSE SPEAKER JOHNSON SAID ABOUT THE VOTE

US homeowners start refinance boom as interest rates ease
US homeowners who obtained mortgages in the past few years while interest rates were at multi-decade highs have started a mini-refinancing boom as rates ease. Applications to refinance mortgages were up 20% from the previous week to their highest level since July 2022. Applications for new mortgages increased 11%, according to data from the Mortgage Bankers Association. The refinance share of mortgage activity increased to 55.7%.
REFI ACTIVITY SHOULD CONTINUE TO RISE AS RATES FALL

Florida residents racing to get ready for Hurricane Helene
Hurricane Helene was moving toward Florida's Golf Coast on Wednesday as the storm is forecast to strengthen into a Category 3 before making landfall in the Big Bend region sometime tonight. The National Hurricane Center warned people along Florida's Gulf Coast to get their preparations done ahead of Helene's expected life-threatening 12-18 foot storm surge and 125 mph winds.
GET THE LATEST ON THE FORECAST TRACK FOR HELENE

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Markets

DJIA	41,914.75	-0.70%
S&P 500	5,722.26	-0.19%
Nasdaq Composite	18,082.21	0.04%
Japan: Nikkei 225	37,870.26	-0.19%
UK: FTSE 100	8,268.70	-0.17%
Crude Oil Futures	69.70	0.01%
Gold Futures	2,679.60	-0.19%
Yen	144.56	-0.13%
Euro	1.11	0.02%
* As of market close

Israel-Lebanon conflict enters 'new phase'

The head of the Israeli Defense Forces Northern Command told his forces to be ready for a potential invasion of Lebanon amid the deadly conflict with Hezbollah. MG Ori Gordin visited the commanders and soldiers of the 7th Brigade on Wednesday during their brigade exercise on the northern border, telling them: "We have entered a new phase of the campaign." The IDF said Wednesday that it would mobilize two reserve brigades for "operational missions" in the north. The IDF said it hit 60 Hezbollah targets in missile strikes on Wednesday.

WHY ISRAEL WAS BANNED FROM UN SCIENCE COMPETITION

Alex Jones forced to auction off 'Infowars'

A federal judge is forcing Alex Jones to disassemble Infowars, the conspiracy theory peddling media platform he created in 1999, so it can be auctioned off in fragments in order to help pay off the $1.5 billion its founder owes relatives of the victims of the Sandy Hook Elementary School shooting. The November auction will allow attendees to buy Infowars' website, social media accounts, broadcasting equipment, product trademarks and inventory owned by Infowars' parent company.

JONES APPEALS TO FANS TO STAY AS INFOWARS EMPLOYEE

US election sees over $1B in crypto betting

Cryptocurrency traders on decentralized market prediction platform Polymarket have bet over a billion dollars on the November presidential election. As of Wednesday, bets on Polymarket's Presidential Election Winner 2024 contract had reached $1,007,534,923. Vice President Kamala Harris and ex-president Donald Trump have brought in about $300 million in combined action, with pro-Trump bettors dishing out $164.9 million to those backing Kamala wagering over $156.2 million.

SEE HOW THE EXTRA $162 MILLION BECAME WASTED WAGERS

Extra point

What was the largest single legal wager ever placed at a casino?

Wednesday's answer: Behind 81-year-old Joe Biden, the two oldest US presidents to serve were Ronald Reagan (77 years, 11 months) and Donald Trump (74 years, 7 months) when they left office.

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