Consumer Confidence at a Two year high!

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What’s Hot? The Mega Millions jackpot has soared to an estimated $910 million, following no winners in Tuesday's drawing. If not won, the grand prize could surpass this mark by Friday's draw. This follows a 28-draw streak without a jackpot winner since April 18. The largest Mega Millions jackpot ever was $1.537 billion in 2018.

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📊 Anticipating Today's Federal Reserve Meeting Insights

Federal Reserve is anticipated to sanction the 11th interest rate increase, potentially pushing the borrowing rate to the highest level since 2001. As inflation subsides, there are increasing concerns that the economy could enter a contraction. Kathy Jones, chief fixed income strategist at Charles Schwab, believes the Fed should already halt rate hikes, saying, “They’re walking a difficult line here… we’ve done enough for now, and we can wait and see.”

💲Consumer confidence hits highest level in two years

Consumer confidence in the US economy has reached its highest level in two years, according to the Conference Board's Consumer Confidence Index. The reading hit 117 in July, with optimistic views on employment conditions driving this surge. This development has led some economists to revise recession predictions, with Goldman Sachs lowering its likelihood of a recession in the next 12 months to 20%.

🇨🇳 China's Foreign Minister Qin Gang Ousted in Surprise Leadership Shake-Up 

China's foreign minister, Qin Gang, was dramatically replaced by his predecessor, Wang Yi, after a prolonged absence from public view. The move, approved by China's rubber-stamp parliament, raises speculation about Qin's fate, as no reason was given for his departure. His removal comes during critical diplomatic efforts, and his close ties to Leader Xi Jinping add intrigue to the situation. The secretive nature of Chinese politics further complicates the situation.

💈 Taliban Shuts Down Beauty Salons in Afghanistan, Ignoring UN Concerns and Protests
The Taliban closed all beauty salons despite public opposition after the one-month deadline ended. The edict adds to restrictions on Afghan women, already banned from education, public spaces, and most employment. International groups are concerned about the impact on female entrepreneurs, and the UN urges authorities to reverse the prohibition. The Taliban's harsh measures since seizing power in August 2021 have led to global criticism and worsened the country's humanitarian crisis.

🇰🇵 North Korea Extends Rare Armistice Anniversary Invite to Russia, China

North Korea invited Russian and Chinese delegations, led by Defense Minister Sergei Shoigu and Political Bureau Central Committee member Li Hongzhong respectively, for the 70th anniversary of the Korean War Armistice Day celebrations. China's Foreign Ministry spokeswoman, Mao Ning, emphasized the visit will foster "regional peace and stability" and aid in resolving Korean Peninsula issues.

🖐️ Amazon's Pay-by-Palm Tech to Reach All Whole Foods by Year-End

Amazon is expanding its biometric technology, Amazon One, to all Whole Foods stores by year-end. The technology, which allows customers to pay with their palms, is currently available at 200 locations. The company noted "growing demand," with 3 million uses recorded. The technology has been tested at places like Panera Bread and Coors Field baseball stadiums.

🛰️ NASA Experiences Brief ISS Contact Loss Due to Power Outage, Uses Backup Systems

NASA faced a temporary disruption in communication with the International Space Station (ISS) due to a power outage at their Houston building, leading them to employ backup control systems for the first time. Space station program manager Joel Montalbano emphasized, "At no time was the crew or the vehicle in any danger." Normal operations were restored within 90 minutes.

🏀 Jaylen Brown Lands NBA's Richest Deal at $304M, Agent Confirms

Boston Celtics' Jaylen Brown has agreed to a record-breaking five-year, $304 million supermax contract extension, making it the richest deal in NBA history, as reported by his agent. Brown, who last season averaged 26.6 points, 6.9 rebounds, and 3.5 assists per game, will begin his new contract in the 2024-2025 season.

🎭 Dwayne Johnson Gifts Striking Actors with Seven-Figure Donation

Actor and retired wrestler Dwayne "The Rock" Johnson has donated a "seven-figure" sum to the SAG-AFTRA Foundation, marking the largest single donation since the foundation's inception in 1985. Amid the actors union's strike, the undisclosed sum will aid thousands through the Emergency Financial Assistance Program. Courtney B. Vance, the foundation's president, called it a "call to arms.

🗳️ Ohio's Abortion Rights Amendment Secures Spot on November Ballot
An amendment to enshrine abortion rights in Ohio's constitution will be included in the November ballot after organizers submitted enough valid signatures, says Secretary of State Frank LaRose. Ohio Democratic Party Chair Elizabeth Walters praised this as an "important victory for Ohio women." Meanwhile, the state also faces a special election on August 8, potentially raising the amendment threshold from a simple majority to 60%.

🏛️ Speaker McCarthy Proposes Impeachment Inquiry into President Biden
House Speaker Kevin McCarthy reveals potential impeachment inquiry against President Joe Biden, stemming from unproven financial misconduct allegations. The move, amid GOP pressure, aims to support Donald Trump for 2024. The inquiry, McCarthy says, will help investigate the Biden family finances, despite no proven wrongdoing to date.

🌡️ Florida Seawater Temperature Skyrockets, Possibly Sets World Record

Florida's seawater temperature has reportedly reached over 100 degrees (37.8°C) two days consecutively, potentially marking the hottest seawater ever measured. This has contributed to devastating coral bleaching and death in the Florida Keys. A 2020 study identified a 99.7 degree (37.6°C) mark in Kuwait Bay as the highest recorded sea surface temperature. The news coincides with sea surface temperatures worldwide breaking monthly records for heat.

✅ UPS Union Abandons Strike as Worker Pay Hike Confirmed

The Teamsters Union has reached a tentative agreement with United Parcel Service (UPS), preventing one of the largest strikes in U.S. history. The deal includes a pay increase of $2.75 per hour in 2023 and $7.50 more per hour over the contract's lifespan for UPS Teamsters. Part-timers' wages will rise to at least $21 per hour. Union president Sean O'Brien said, "This contract sets a new standard in the labor movement."

On July 26th, 1965, Maldives emerged from the shadows of British rule, charting its own course to prosperity. This vibrant archipelago, renowned for its coral beauty and rich cultural tapestry, stands as a testament to the resilient spirit of independence. Happy Independence Day, Maldives! 🇲🇻

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