April Inflation Slows Down

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BUSINESS & ECONOMY

📉 Inflation Eases: April Sees Slowest Consumer Price Rise in 3 Months

Inflation pressures eased in April as consumer prices rose at the slowest pace in three months. The CPI increased by 0.3% monthly and 3.4% year-over-year, while Core prices rose by 0.3% monthly and 3.6% annually. Notable contributions came from shelter, energy, and motor vehicle insurance. Mark Hamrick Bankrate senior economist,  noted, "The lack of a nasty surprise this time around is welcomed."  

💳 Gen Z Leads Surge in Maxed-Out Credit Cards

Nearly one-fifth of American credit card borrowers were using at least 90% of their available credit in early 2024, with Gen Z leading at 15.3%. Credit card balances reached $1.12 trillion, and delinquencies rose to 6.9% While the average card balance was $6,360, with an interest rate of 21.6%.  Matt Schulz, chief credit analyst at LendingTree stated, "It's going to get worse in months to come." 

📈 S&P 500 Reaches New High Amid Strong CPI Data

The S&P 500 reached a new all-time high on Wednesday, rising 0.6% to 5,279.26, driven by softer-than-expected April inflation, which raised hopes for lower interest rates. The Nasdaq Composite also hit a record high, climbing 0.7%, while the Dow Jones Industrial Average rose 0.4%. Lower bond yields further signaled expectations of a rate cut by the Federal Reserve.

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WORLD

🇨🇳 Putin Supports China's Plan to End Ukraine War

Source - Greg Baker and Gavrill Grigorov/various sources/AFP 

President Vladimir Putin endorses China's peace plan, praising it as a "genuine desire" to end the Ukraine war. China's 12-point plan, including calls for peace and stability, initially received a lukewarm response but was later deemed "realistic and constructive" by Putin. Putin stated, “China’s measures are realistic and constructive steps towards peace.”  

🌍 US Urges Arab States to Join Postwar Gaza Force

The US is encouraging Arab states to join a postwar peacekeeping force in Gaza to fill the security vacuum until a Palestinian authority is established. Egypt, the UAE, and Morocco are considering it, while Saudi Arabia and others reject it. The US aims to lead without deploying troops. 

🛡️ Israeli Defense Minister Criticizes Netanyahu’s Gaza Plan

Israeli Defense Minister Yoav Gallant publicly criticized Prime Minister Benjamin Netanyahu's Gaza strategy, accusing him of "indecision" and leading Israel down a "dangerous course." The criticism highlights internal government discord, particularly as the Biden administration also expressed concerns about Israel's lack of a political plan for Gaza's future. Netanyahu defended his strategy, stating, "There's no alternative to military victory." 

SCIENCE & TECH

🌍 Microsoft's Emissions Surge Nearly 30% to Meet AI Demand

Microsoft's emissions have surged by nearly 30% since 2020, driven by the infrastructure expansion needed for AI and cloud computing. Despite reducing direct energy-related emissions by 6.3%, supply chain emissions soared by 30.9%. The competition to build data centers for generative AI, a power-intensive technology, threatens Microsoft's climate goals of becoming carbon negative and achieving zero waste by 2030. 

🔍 Apple Introduces  iOS 18 with Eye-Tracking Accessibility

Apple announces new accessibility features in iOS 18, iPadOS 18, macOS 15, and visionOS 2, set to launch later this year, these include  Eye Tracking, utilizing AI and the front-facing camera for seamless navigation through eye movements, aiding users with physical disabilities. Apple also announces other features like Music Haptics, Vocal Shortcuts, customizable VoiceOver, and systemwide Live Captions.

SPORTS & ENTERTAINMENT

📉 Kim Kardashian, Taylor Swift Lose Followers Over Silence On Gaza

Kim Kardashian and Taylor Swift have lost followers due to a campaign encouraging people to block celebrities who remain silent on Gaza. The #blockout2024 movement gained traction, urging social media users to unfollow celebrities not using their platforms to support Palestine. Kardashian lost 44,000 followers initially and 123,000 the next day, while Swift saw a similar decline.

🏀 Caitlin Clark's WNBA Debut Breaks ESPN Viewership Record

Caitlin Clark debuted with the Indiana Fever against the Connecticut Sun, leading ESPN to a record viewership for a WNBA game. The Sun won 92-71 on Tuesday's opening night, attracting an average of 2.1 million viewers. This surpasses the previous 2004 record. ESPN stated, "Her arrival has already been a big boost for the WNBA."

OTHER NEWS

🗳️ Trump and Biden Agree to Two Debates in Busy Wednesday

President Biden and former President Trump reached an agreement on Wednesday for two presidential debates. The first debate will occur on June 27, hosted by CNN in Atlanta, and the second on September 10, hosted by ABC. This swift decision followed Biden's challenge to Trump, aiming to gain momentum in swing states where Biden is trailing. Trump stated, "Let's get ready to Rumble!!!"

👶 Global Concern Over Declining Birth Rates

The global fertility rate is soon expected to drop below the replacement level, impacting economies, societies, and superpowers. Fertility is declining universally, with significant consequences for economic growth and societal structures. Estimates show the global birthrate falling below 2.2 children per woman, with countries like South Korea experiencing the lowest rates.  

🆙 Abortion Support Rises Despite GOP Opposition

A recent Pew Research study reveals that 63% of Americans support legal abortion in most cases, up from 2021. This includes two-thirds of moderate and liberal Republicans. Only 8% believe it should be illegal in all cases. Despite this, GOP leaders in several states have enacted complete bans or strict six-week limits since the fall of Roe v. Wade in 2022.

🎓 Georgia teen Accepted by 231 Universities, Awarded $15M in Scholarships 

Madison Crowell from Georgia receives $15 million in scholarships from 231 universities due to her hard work and dedication. She chose High Point University in North Carolina, calling it one of her best decisions. Crowell stated, "I want to show the kids here in Liberty County that it's possible to get accepted into schools you think might be out of your reach."

THIS DAY THAT YEAR

On May 16th, 1929, the first Academy Awards were presented. The prestigious award for Best Actor went to the renowned international movie star Emil Jannings, whose real name was Theodor Friedrich Emil Janenz. Janet Gaynor received the honor of Best Actress for her outstanding performances. These inaugural awards marked the beginning of a celebrated tradition in the film industry.

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