Economic Output Hits Peak

Hey there scroller🤳

Ready for another day’s headstart with some fresh news?

If your pal sent this to you, then subscribe to stay the most informed person in the room😉

BUSINESS & ECONOMY

🚀 US Economic Output Reaches 2-Year Peak

US economic output hit a two-year high, driven by robust performance in services and manufacturing sectors. S&P Global's flash US composite PMI rose to 54.4 in May from 51.3 in April, a 25-month high. Services led with 54.8, and manufacturing reached 50.9. Chris Williamson, S&P Global's economist, stated, "The US economic upturn has accelerated again after two months of slower growth."

🛍️ Retail Traders Struggle as Fed Holds Rates While Crypto Doubts Increase  

Inflation stresses retail traders, becoming a major concern as it rises from 9% to 19% according to a recent Fed survey. Confidence in potential Federal Reserve rate cuts has diminished, with only 25% expecting more than two cuts by year-end, a drop from 47%. While 79% of respondents view cryptocurrencies as risky, with nearly two-thirds uncertain about their future.

TOGETHER WITH MAX AI

MaxAI.me - Outsmart Most People with 1-Click AI

Discover MaxAI.me, one of the top 50 GenAI apps of 2024!

Best features:

• Chat with the latest AI like GPT-4, Claude 3, and Gemini 1.5, all in one place.

• Perfect your writing anywhere with 1-click AI without copy-pasting.

• Save 90% of your reading & watching time with AI summaries.

• Reply 10x faster with AI on email, social media, and messaging web apps.

• Rapidly turn your visions into stunning images with AI art generators.

Join 1M+ users on MaxAI.me to get more done in less time!

WORLD

🚨 Iran’s Khamenei Tells Hamas: 'Israel Will Be Eliminated'

Iranian Supreme Leader Ali Khamenei told Hamas leader Ismail Haniyeh that Israel "will one day be eliminated" as part of his ongoing support for the Palestinian cause and opposition to Israel. Khamenei believes it is a divine promise that the Zionist entity will be eradicated and that Palestine will be restored  Khamenei asserted, "The divine promise to eliminate the Zionist entity will be fulfilled."

🇮🇱 Netanyahu to Address US Congress Soon

US House Speaker Mike Johnson announced that Prime Minister Benjamin Netanyahu will “soon” address a joint session of Congress. Netanyahu will discuss Israel’s challenges and seek support amid the conflict with Hamas. Senate Majority Leader Chuck Schumer will support the invitation. Johnson stated, “This will be a timely and very strong show of support to the Israeli government in their time of greatest need.” 

SCIENCE & TECH

📢 Amazon to Charge Monthly Fee for AI-Powered Alexa: CNBC

Amazon plans to introduce a monthly fee for an AI-enhanced version of Alexa later this year, according to CNBC. This subscription aims to fund the upgrade, which will make Alexa more conversational, competing with AI chatbots from OpenAI and Google. The fee is yet to be decided. Alexa launched a decade ago, currently struggles with complex tasks. 

🚀 NASA Sets New Launch Date for Boeing's Starliner Mission After Delays

NASA announced a new launch date for Boeing's Starliner astronaut-crewed mission after multiple delays. The mission is now scheduled for June 1, with backup dates on June 2, 5, and 6. Previous delays were due to issues with an oxygen valve and a helium leak. Steve Stich stated, "It has been important that we take our time to understand all the complexities of each issue." 

🚀 X Lands $6B for AI Projects

xAI secures nearly $6 billion in new funding for its AI projects, including the Grok AI chatbot. The funds come from investors like Lightspeed Venture Partners, Andreessen Horowitz, Sequoia Capital, and Tribe Capital. This raises xAI's valuation to about $18 billion. 

SPORTS & ENTERTAINMENT

🎟️ Government Sues Ticketmaster Owner, Seeks to End Event Monopoly

The Justice Department, alongside 30 state and district attorneys general, has sued Ticketmaster and its parent company, Live Nation, alleging they run an illegal monopoly over live events in the U.S. Filed in Manhattan federal court, the lawsuit seeks to dismantle the monopoly, citing unfair competition and high prices for fans. Attorney General Merrick Garland stated, "It is time to break up Live Nation-Ticketmaster."

🏅 NCAA Approves Deal to Pay Student-Athletes, Transforming College Sports 

The NCAA and five major conferences signed a tentative deal to settle antitrust lawsuits, directing nearly $2.8 billion to over 14,000 athletes over the next decade. Marking a shift in college sports moves from scholarships to athlete compensation starting fall 2025. NCAA President Charlie Baker stated, "This is an important step in the continuing reform of college sports." 

OTHER NEWS

🎓 Graduates Walk Out of Harvard Commencement Chanting 'Free Palestine'

Hundreds of Harvard graduates walked out of their commencement on Thursday, chanting “Free, free Palestine” in solidarity with 13 students barred from receiving diplomas for participating in a protest encampment. The protest highlighted ongoing campus activism for Palestinian rights, with students calling for a ceasefire in Gaza and Harvard’s divestment from companies supporting the war.  

🗳️ Ohio Governor Calls Special Session to Secure Biden's 2024 Ballot Spot

Ohio Governor Mike DeWine has called a special session of the General Assembly to pass legislation ensuring President Biden is on the state's 2024 ballot. This urgent move addresses the August 7 ballot deadline and is complicated by a partisan dispute over banning foreign contributions to state ballot measures. 

💊 Surge in Wegovy and Weight-Loss Drug Use Among Youth

The use of weight-loss drugs like Wegovy and Ozempic is soaring among kids and young adults due to rising obesity rates and increased prescriptions from healthcare providers. These GLP-1 receptor agonists help manage weight when diet and exercise fail. From 2020 to 2023, usage among 12- to 25-year-olds increased by nearly 600%, driven by their efficacy and new medical guidelines. 

THIS DAY THAT YEAR

On May 24, 1883, the New York and Brooklyn Bridge was inaugurated. The grand opening ceremony attracted thousands of attendees, while numerous ships filled the East River to mark the occasion.

BRAIN TEASER

I have four wings, but cannot fly, I never laugh and never cry; On the same spot, I'm always found, toiling away with little sound. What am I?

Nailed it or stumped? Hit us with a reply and find the correct answer 🎯

Here’s what yesterday’s teaser was:

Out of water, I’m white as snow. But when you put me back in water, where I went, you’ll never know. What am I?

The answer is: Salt

Thanks for scrolling with us! 

Catch up on what you missed by checking out our past issues here. And if you’re in the mood for more bite-sized, 60 words content nuggets? Check out our other daily newsletter.

Marketing Scroll: Get all the Marketing news that truly matters delivered to your inbox in 60-word quick reads, giving you everything in under 3 minutes a day! 

Want to share Daily Scroll with a Pal? Forward this email and invite them to join our community of savvy scroll-ers.

We'd love to hear your feedback on today's issue of Daily Scroll! Simply reply to this email and share your thoughts on how we can improve our content and format. 

Have a great day and see you on Monday🕺