Goldman's Bold Rate Cut Call

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BUSINESS & ECONOMY

🌟 Goldman predicts US job market turning point, maintains forecast of two rate cuts

Goldman Sachs economists see the US labor market at an "inflection point," where further weakening in worker demand could impact jobs rather than job openings. Despite the Federal Reserve's recent hawkish stance, Goldman maintains its forecast of two interest rate cuts in September and December. Jan Hatzius the Chief Economist noted, “Ultimately, the key driver of labor demand is economic activity, and GDP growth has slowed meaningfully.” 

🌟 Nvidia Becomes The World's Most Valuable Company

Nvidia has become the world's most valuable company, surpassing Microsoft, driven by its pivotal role in artificial intelligence. With its chips integral to AI advancements, Nvidia's market cap soared to $3.34 trillion, boosted by a 180% stock surge this year by its transformation from a video game chip producer to a global tech powerhouse amid escalating demand for AI computing capabilities across major tech giants. 

🚨 Sen. Warren urges Powell to uphold banking regulations: 'Do your job'

Sen. Elizabeth Warren warns Federal Reserve Chair Jerome Powell against weakening banking regulations, accusing him of catering to the financial industry by reducing proposed capital increases for large banks. Warren urges Powell to prioritize financial security over industry lobbying, stating, “Do your job and allow the Board to convene for a vote on a 16% capital increase by June 30th.”

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WORLD

🚀 Israeli military approves operational plans for offensive in Lebanon

The Israeli army announced Tuesday that its offensive plans in Lebanon were "approved and validated" amid escalating cross-border clashes with Hezbollah. The conflict has intensified due to the Gaza war, with daily exchanges of fire between Israeli forces and Hezbollah, an ally of Hamas. Israeli Foreign Minister Israel Katz threatened Hezbollah with "total war" and Lebanon with severe consequences.

🌈 Thailand to Legalize Same-Sex Marriage, Leading Southeast Asia

Thailand is set to become the first Southeast Asian nation to legalize same-sex marriage after its Senate passed a marriage equality bill. The bill, needing the king's endorsement, will grant LGBTQ+ couples equal rights in inheritance, adoption, and healthcare. Panyaphon Phiphatkhunarnon, founder of the Love Foundation stated, "monumental step forward for LGBTQ+ rights."

🔴 Hajj Pilgrimage Tragedy in Mecca Claims 577 Lives

The Hajj pilgrimage in Mecca, Saudi Arabia, saw a tragic death toll of 577 individuals, including at least 323 Egyptians and 60 Jordanians. The majority of these deaths were due to heat-related illnesses, with one fatality from a crowd crush. Other affected countries included Indonesia, Iran, and Senegal. 

SCIENCE & TECH

🚫 Apple discontinues buy now, pay later service just one-year post-launch

Apple discontinues its buy now, pay later service, Apple Pay Later, barely a year after its March 2023 launch acknowledging the challenges of building a financial services business from scratch. Instead, Apple will integrate established services like Affirm into Apple Wallet, allowing banks to offer similar plans. Existing loans can still be managed within Apple Pay. 

📱 Gemini in Google Messages now compatible with all Android devices

Google's Gemini chatbot is now available on any Android phone with 6GB of RAM or higher. Initially launched on newer Pixel and Samsung Galaxy phones, the feature has expanded as reported by 9to5Google. Currently, Gemini is supported in English in 164 countries, with additional French support in Canada. Users must be 18+, use their own Google account, and have RCS chats enabled. 

SPORTS & ENTERTAINMENT

🚔 Justin Timberlake Charged with Drunk Driving

Justin Timberlake was charged with driving while intoxicated after failing to stop at a stop sign and maintain his lane in Sag Harbor, New York. Observed with bloodshot eyes and the smell of alcohol, he admitted to drinking a martini. Timberlake refused a chemical test stating “No, I’m not doing a chemical test,” and was released without bail. His next court appearance is on July 26. 

⚾️ Legendary Baseball Star Willie Mays Dies at 93

Willie Mays, legendary baseball player, passes away at 93. Mays, known as the “Say Hey Kid,” thrilled fans with his batting, fielding, and base running prowess. With a .301 batting average, 660 home runs, and 12 Gold Gloves, his impact was profound. Former President Barack Obama said, “Willie Mays wasn’t just a singular athlete he was an inspiration to an entire generation.” 

OTHER NEWS

🌌 Mysterious Monolith Emerges in Nevada Desert

A "mysterious" monolith has appeared near Gass Peak in the Nevada desert, Las Vegas police reported. The reflective object, found by the Las Vegas search and rescue team over the weekend, was located north of the Las Vegas Valley. Authorities are unsure how it arrived there. Similar monoliths have previously appeared in various locations worldwide, sparking comparisons to 2001 A Space Odyssey.

🛩️ Senators Criticize Boeing CEO Amid Safety Concerns and Apology

Boeing CEO Dave Calhoun faced intense criticism during a U.S. Senate hearing over the company’s safety issues, including two fatal 737 MAX crashes and a recent mid-air emergency. Senators questioned his high salary and called for his resignation. Calhoun apologized to crash victims' families, stating, "I am here to take responsibility," and pledged to address safety concerns. 

🌀 Coastal Texas Braces for Flooding as First Tropical Storm Warning of Hurricane Season Issued

The first tropical storm warning of this year's hurricane season was issued for coastal Texas, anticipating heavy rain, flooding, and possible tornadoes from a developing storm in the southern Gulf of Mexico. Forecasters predict the storm, potentially named Tropical Storm Alberto, to impact the region with strong winds and significant rainfall, affecting areas from San Luis Pass to the Rio Grande mouth. 

THIS DAY THAT YEAR

On June 19th, 2016, the Cleveland Cavaliers, spearheaded by the iconic LeBron James, triumphed over the Golden State Warriors in a nail-biting Game 7 to secure the franchise's first NBA championship.

BRAIN TEASER

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Where do you take a sick boat?

The answer is: To the dock!!

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