US Home Sales Hit Decade Low

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BUSINESS & ECONOMY

🏡 US Home Sales Plummet in May Due to High Rates and Record Prices

U.S. home sales in May dropped to near-decade lows due to high mortgage rates and record prices, according to Redfin. Housing affordability is at an all-time low, with the 30-year fixed mortgage rate around 7%. Median home prices hit a record $439,716, up 5.1% year-over-year. Redfin Senior Economist Elijah de la Campa stated, "High homebuying costs are making both house hunters and prospective sellers skittish."

😔 Consumer Sentiment Drops to 7-Month Low 

Consumer sentiment fell to its lowest in seven months in June, with the University of Michigan survey showing a decline to 65.6 from 69.1 in May. This drop, below the expected 72, reflects concerns over high prices and weakening incomes. The current conditions index also dropped to 62.5 from 69.6. 

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WORLD

🕊️ Zelensky: Peace Talks Tomorrow if Russia Exits Ukraine

Kyiv will hold peace talks if Russia withdraws from all Ukrainian territory, President Zelensky stated at a Swiss peace summit. He stressed the need to stop Putin "in any way we can." The summit ended with a commitment to Ukraine's territorial integrity, but India and Saudi Arabia didn't sign the final document. Zelensky stated, "Russia can start negotiations tomorrow if they pull out."

🚨 Israel pauses along southern Gaza route for aid, continues Rafah offensive

The Israeli military announced a “tactical pause” in southern Gaza to allow aid distribution, while fighting in Rafah continues. Effective daily from 8 a.m. to 7 p.m., it will facilitate aid trucks from Kerem Shalom Crossing via Salah al-Din Road to address the humanitarian crisis but isn't a ceasefire. Scott Anderson, UNRWA director in Gaza stated, “We hope this pause allows free movement.”

SCIENCE & TECH

🍏 Apple's AI Launch Expected to Extend into Next Year

Apple Intelligence will follow a phased approach with developer testing beginning late this summer but it will not be included in the initial beta versions of the upcoming operating system updates. Initially, Apple Intelligence will be available on select devices and will support American English with a waitlist for users allowing flexible staffing and additional time to train AI models in other languages. 

🛡️ Ex-NSA Chief Joins OpenAI Board and Safety Team

OpenAI appoints Paul M. Nakasone, former head of the National Security Agency (NSA) and retired US Army general, to its board of directors. Nakasone, who directed the NSA from 2018 until February 2024, joins OpenAI’s Safety and Security Committee to help OpenAI enhance cybersecurity measures. board chair Bret Taylor stated, “General Nakasone’s unparalleled experience will help guide OpenAI.”  

📉 Google Fails to Dismiss US Antitrust Case on Digital Ads

Alphabet's Google to face trial after a U.S. District Judge denied its motion to dismiss an antitrust case. The U.S. Justice Department claims Google illegally dominates the online ad tech market. The trial, presided over by Judge Leonie Brinkema in Alexandria, Virginia, is set for September 9. Google stated, "We look forward to setting the record straight."

SPORTS & ENTERTAINMENT

🏌️‍♂️ Bryson Wins, Rory Heartbroken in U.S. Open Nail-Biter

Bryson DeChambeau clinched his second U.S. Open title with a 3-foot, 11-inch putt on the 18th hole, while Rory McIlroy's missed short putts on the 16th and 18th sealed his heartbreak. DeChambeau's flawless bunker shot set up his victory, contrasting McIlroy's rare misses that shifted the lead. DeChambeau stated, "Golf, it's a game of luck."

🎭 "The Outsiders" Wins Best Musical at 77th Tony Awards

The 77th Tony Awards, held Sunday night on CBS, celebrated the best of Broadway. "The Outsiders" won Best Musical, while "Stereophonic" took Best Play. "Merrily We Roll Along" secured Best Revival of a Musical, and "Appropriate" won Best Revival of a Play. Notable acting winners included Maleah Joi Moon for "Hell's Kitchen" and Jonathan Groff for "Merrily We Roll Along." 

🏅 Olympic Committee Introduces Esports to the Games

The International Olympic Committee (IOC) announced on Friday the creation of the "Olympic Esports Games," an event that will feature virtual sports and video games. This competition, separate from the traditional Olympics, will begin as early as next year and no later than 2026. IOC President Thomas Bach stated, “The IOC is taking a major step forward in keeping up with the pace of the digital revolution." 

OTHER NEWS

🔫 Florida Teen Kills Parents, Injures Deputy in Shootout

Christos Alexander Themelis Jr., 19, killed his parents and injured a deputy in a Tampa shootout Saturday night. Previously deemed mentally unfit with a history of violence, he shot his mother and fired at officers, wounding one, before dying from his injuries. Sheriff Chad Chronister stated, "The monster we encountered this evening is responsible for not only injuring our deputy but also killing his own mother and father."

🎢 Nearly 30 Suspended Upside Down in Portland Ride Malfunction

Nearly 30 people were stranded upside down for over 20 minutes when the AtmosFEAR ride malfunctioned at Oaks Amusement Park in Portland, Oregon. The incident occurred at 2:55 p.m. on Friday. Emergency procedures were initiated, and responders arrived by 3:20 p.m. All riders were medically evaluated, one person was hospitalized as a precaution. The ride remains closed pending investigation.

🌧️ Florida Prepares for More Rain After Severe Flash Flooding

Florida braces for more rain after a week of devastating flash flooding. Six million people remain under a flood watch in southern Florida, affecting Miami, Fort Lauderdale, and other cities. Over 20 inches of rain have fallen, with more expected. The National Weather Service warns of standing water and residual flooding. 

🔥 Record-Breaking Heat Wave to Scorch the East This Week 

A long-lasting and expansive heat wave will grip the Midwest and Northeast with record-breaking temperatures this week. Nearly 200 high-temperature records may be tied or broken as a massive heat dome parks over the East. Cities like Chicago, New York, and Boston will see temperatures 15 to 25 degrees above normal. 

THIS DAY THAT YEAR

On June 17, 1972, five burglars were arrested at the DNC headquarters in the Watergate complex, igniting a series of political scandals during President Richard Nixon's administration. These events, collectively known as the Watergate scandal, led to Nixon's resignation on August 9, 1974, as he faced imminent impeachment for his cover-up efforts.

BRAIN TEASER

Before Mt. Everest was discovered, which was the highest mountain in the World?

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

Here’s what Friday’s teaser was:

What kind of room has no walls or corners?

The answer is: A mushroom.

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