US Household Wealth Hits Record High

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BUSINESS & ECONOMY

💰 US household wealth hits record $160 trillion in Q1

US household wealth soared to a record $160 trillion in Q1 2024, up 3.2% or $5.1 trillion, driven by a $3.8 trillion rise in stock prices, per the Federal Reserve. The bull market brought 40 million new retail investors, expanding beyond meme stocks to giants like Apple, Microsoft, and Nvidia, signaling a broader, more accessible market. 

💸 US Consumers Living Paycheck to Paycheck at Two-Year High

A growing number of Americans are struggling financially despite a strong economy, with 72% of their income spent on essentials like food and housing. Those earning $50,000 or less and living paycheck to paycheck rely heavily on cash and debit, prefer physical stores, and often shop at discount retailers like Walmart.

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WORLD

🕵️ Russian official warns of Islamic sleeper cells as death toll in synagogue and church attacks hits 20

A Russian official attributed coordinated attacks on synagogues and churches in Makhachkala and Derbent, Dagestan, which resulted in 20 deaths, to Islamic "sleeper cells." Gov. Sergei Melikov indicated that the attackers were foreign-directed extremists with the intent to incite panic and fear. Melikov stated, “Their goal was sowing panic and fear.”

⚠️ US warns Hezbollah it can't hold back Israel if escalation continues

The U.S. warns Hezbollah that it cannot hold Israel back if escalation continues. During a visit to Beirut, President Biden's envoy Amos Hochstein informed Lebanese officials that Hezbollah's belief in U.S. control over Israel is incorrect. The Biden administration fears escalating tensions may lead to war. Hochstein stated, "What President Biden wants to do is to avoid a further escalation to a greater war."

SCIENCE & TECH

📧 Gmail Gemini AI sidebar and email summaries are rolling out now

Google is rolling out Gemini AI features in Gmail, including a new side panel for summarizing email threads and drafting new emails. Available to Google Workspace and Google One AI Premium subscribers, it offers proactive prompts and freeform questions. The features are also coming to Docs, Sheets, Slides, and Drive.

🍏 Apple drops plan to use Metas AI due to privacy concerns

Apple shelved plans to integrate Meta's AI models due to privacy concerns and potential image issues, Bloomberg reports. Apple briefly considered the partnership but has criticized Meta's privacy practices. Instead, Apple launched its own AI features and partnered with OpenAI and Google. Meta focuses on deploying its AI through its own apps, reaching billions of users. 

SPORTS & ENTERTAINMENT

🏀 Scottie Barnes Raptors agree to 5-year $270M extension

Scottie Barnes and the Toronto Raptors have agreed to a five-year maximum rookie extension worth up to $270 million. Barnes, 22, who had a breakout 2023-24 NBA season, is guaranteed $225 million, the largest contract in Raptors history. This deal follows Barnes' of impressive averages and contributions despite an injury-shortened season. Barnes's Instagram post stated, "I promise we will be better."

🦈 Former pro surfer  Tamayo Perry killed in shark attack near Oahu

Former pro surfer Tamayo Perry, 49, was killed in a shark attack while surfing near Goat Island off Oahu’s North Shore on Sunday. Lifeguards responded to a call about a man with apparent shark bites and brought Perry to shore, where he was pronounced dead. Following the attack, shark warnings were posted in the area by Honolulu Ocean Safety personnel.

🏒 Panthers recover defeat Oilers in Game 7 to win 1st Stanley Cup title

The Florida Panthers secured their first Stanley Cup title by defeating the Edmonton Oilers 2-1 in Game 7 at Amerant Bank Arena. Carter Verhaeghe and Sam Reinhart scored for the Panthers, while Sergei Bobrovsky made 23 crucial saves. Despite Connor McDavid winning the Conn Smythe Trophy, the Oilers fell short. 

OTHER NEWS

⚠️ Rapidan Dam in Minnesota near collapse officials warn

The Rapidan Dam in Minnesota faces imminent failure due to Blue Earth River flooding, warns the Blue Earth County Sheriff's Office. Flooding eroded the dam's sides, causing debris buildup and partial failure. Efforts to protect residents and restore power are underway. Governor Tim Waltz stated, "We're making sure, first and foremost, people are safe." 

🔓 WikiLeaks founder to plead guilty to Espionage Act 

WikiLeaks founder Julian Assange has agreed to plead guilty to violating the Espionage Act, resolving his legal matters with the U.S. government. He is expected to appear in a U.S. courtroom on the Northern Mariana Islands. Assange faced multiple charges for obtaining and disseminating classified information. He will return to Australia after the court hearing. 

THIS DAY THAT YEAR

On June 25, 1950, North Korean forces crossed the 38th Parallel, invading South Korea. The United Nations condemned the attack and swiftly passed Security Council Resolution 82, demanding the cessation of hostilities and the withdrawal of North Korean troops.

BRAIN TEASER

I’m soft and hairy from door to door. I’m the pet that always stays on the floor. What am

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

Here’s what yesterday’s teaser was:

I have a little house in which I live all alone. It has no doors or windows, and if I want to go out I must break through the wall. What am I?

The answer is: A chick in an egg.

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