S&P 500 to See a Small Gain in 2024?

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BUSINESS & ECONOMY

📈S&P 500 to see a small gain in 2024 as US economic risks rise, reveals Reuters poll

Reuters poll predicts the S&P 500 to end next year at 4,700, a slight 3.4% rise, amidst potential U.S. recession risks. Wall Street rallies on halted Fed rate hikes and lower October inflation. Despite 525 basis points hikes since 2022, recession concerns persist. Paul Christopher warns, "the economy weakening... the consumer will break," yet foresees a 2024 recovery. Technology remains a strong sector. The Dow is expected to grow 8% to 38,000.

🔍Binance's Zhao pleads guilty, steps down to settle US illicit finance probe

Binance founder Changpeng Zhao pleaded guilty to violating U.S. anti-money laundering laws in a $4.3 billion settlement, marking one of the largest U.S. corporate penalties. The case involved Binance's failure to report transactions linked to terrorist groups and child abuse material. U.S. Attorney General Merrick Garland criticized Binance for facilitating criminal transactions. Zhao steps down as CEO but retains his stake in the company.

WORLD

🕊️ Israel, Hamas Settle on Hostage Exchange and Temporary Ceasefire in Gaza

In a significant diplomatic breakthrough mediated by Qatar, Israel, and Hamas agreed to a deal for a four-day truce and prisoner exchange. Israel will release 150 Palestinian prisoners and allow increased aid into Gaza, while Hamas will free at least 50 Israeli hostages. Israeli Prime Minister Netanyahu thanked President Biden for helping improve the deal. U.S. Secretary of State Blinken stated, "We will not rest as long as Hamas continues to hold hostages in Gaza."

🚀 North Korea Hails Spy Satellite Launch 

North Korea claims to have successfully launched its first military spy satellite, a move condemned by Japan and scrutinized by the U.S. and South Korea. Japan's Chief Cabinet Secretary Hirokazu Matsuno states that confirming the satellite's orbit will require "a comprehensive and specialized analysis." South Korea has partially suspended a 2018 military agreement in response, while the U.S. criticizes the launch as a violation of U.N. resolutions, escalating regional security tensions.

🇺🇸 U.S. Forces Target Iran-Backed Militia in Iraq with Multiple Strikes

The U.S. conducted strikes in Iraq against Iranian-backed Kataeb Hezbollah, in response to recent attacks on U.S. troops. This marks the first publicly reported U.S. action in Iraq, targeting facilities near Baghdad. The U.S. military stated, "The strikes were in direct response to the attacks against U.S. and Coalition forces by Iran and Iran-backed groups."

SCIENCE & TECH

🤖 Sam Altman Reappointed as OpenAI CEO, Board Welcomes New Members

Sam Altman reclaims his CEO position at OpenAI, concluding a turbulent power struggle. The resolution involves forming a new, smaller board, including Bret Taylor, Larry Summers, and Adam D'Angelo, to establish a larger governance board. Microsoft seeks representation amid this reshuffling. The aftermath of the conflict led to an independent investigation, underscoring the situation's significance for OpenAI's influential role in AI.

🌍 Earth Gets Laser Beam Message from 10 Million Miles Distant

NASA's DSOC experiment successfully transmitted data via laser from 10 million miles away, a first beyond the Moon. The technology, attached to the Psyche spacecraft, signals a major leap in space communication, likened to moving from telephone lines to fiber optics. Trudy Kortes noted its significance for future missions requiring high data rates, such as sending humans to Mars. The technology is expected to boost data transmission capacity by up to 100 times.

SPORTS & ENTERTAINMENT

📉 Susan Sarandon Loses Talent Agency Representation Following Anti-Jewish Remarks

Susan Sarandon was released by UTA (United Talent Agency) after equating Jewish American experiences with those of Muslims in the U.S. at a pro-Palestinian rally. Her comments, criticized by writer Asra Nomani, coincided with rising antisemitism and Hollywood's silence on such issues. Julianna Margulies of "The Morning Show" highlighted this, urging industry figures to speak out against such matters.

🎸 Rolling Stones to Tour Stadiums in San Francisco Bay Area and LA

The Rolling Stones, despite being in their 70s and 80s, have announced a North American tour, marking their return to California without late drummer Charlie Watts. Their 26th album, "Hackney Diamonds," showcases the acclaimed single "Angry," their best in 40 years. Despite their troubled history in the Bay Area, including the disastrous 1969 Altamont Free Concert and recent venue disputes, the tour is set to conclude at Levi’s Stadium on July 17, 2024.

OTHER NEWS

📊 Millennials Require $525K Annually for Happiness, Baby Boomers Satisfied with $124K, Poll Finds

An Empower poll shows that 60% of Americans believe in buying happiness, with costs varying by generation. Millennials need $525,947 annually, while Baby Boomers are content with $124,165. Men and women differ in ideal net worths, $1.5 million and $880,950 respectively. Financial happiness is equated with being debt-free and enjoying daily luxuries, yet inflation hinders these goals with an 18.2% rise in goods since 2020.

🛢️ Over 1 Million Gallons of Oil Spill into Gulf of Mexico, Endangering Local Wildlife

A massive oil spill of over 1 million gallons has occurred in the Gulf of Mexico near Louisiana, endangering fragile ecosystems and species. The U.S. Coast Guard is investigating the source near the Main Pass Oil Gathering pipeline. The spill raises concerns for endangered Kemp's Ridley sea turtles and rare Rice's whales, with NOAA emphasizing the risk to wetlands and marine life. The spill's long-term impact remains uncertain.

📈 U.S. Workers Increasingly Taking Second Jobs Amid Inflation Pressures

In the U.S., inflation has pushed 8.4 million people (5.3% of the workforce) to juggle multiple jobs, as average hourly earnings fell 3.32% since January 2021. Necessities like food and rent have surged, with the consumer price index up 17.62% since early 2021. Americans now spend $650 more monthly, increasingly turning to savings and credit cards.

THIS DAY THAT YEAR

On November 22, 1963, U.S. President John F. Kennedy was assassinated in Dallas, Texas, during a motorcade. Accompanied by his wife, Jacqueline, and Texas Governor John Connally and his wife, Kennedy was fatally shot by Lee Harvey Oswald. Rushed to Parkland Memorial Hospital, Kennedy was declared dead within 30 minutes. Vice President Lyndon B. Johnson succeeded him as President.

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