ibt-mailJul 2, 2024, 9:59 AM

Supreme Court Rules Trump Has Immunity For 'Official Acts'

Newsletter Jul 2, 2024 Quick Six Supreme Court rules Trump has immunity for 'official acts' The Supreme Court ruled Monday that Donald Trump enjoys some immunity from prosecution as a former

Newsletter Jul 2, 2024

Quick Six

Supreme Court rules Trump has immunity for 'official acts'
The Supreme Court ruled Monday that Donald Trump enjoys some immunity from prosecution as a former president, a ruling that will likely delay his trial for conspiring to overturn the 2020 election. The 6-3 decision split along ideological lines comes four months ahead of the election between Trump and Democratic incumbent Joe Biden. Conservative Chief Justice John Roberts, in his majority opinion, said a president enjoys "absolute immunity" from criminal prosecution for official acts taken while in office.
SEE JUSTICE SONIA SOTOMAYOR'S EMPHATIC DISSENT

AI companies experience market cap leap in first half of 2024
AI companies saw huge gains in market capitalization by the end of June, with the top five global companies currently ranking in the top five. Chipmakers in particular have benefited from the AI-centric market, as data from LSEG shows Nvidia, with shares rising by 27%, as the top global company by market cap, followed by Apple, Microsoft, Amazon and Broadcom. Microsoft's market cap increased by 7.6% and Apple's by 9.6% over the past month.
SEE WHY AI-CENTRIC COMPANIES HAVE BEEN TAKING OFF

Tesla facing decline in deliveries for second straight quarter
Tesla is facing declining deliveries for a second consecutive quarter after the April-through-June period points to a decline of 3.7%. It would mark the first time that the EV-maker posted back-to-back drops in successive quarters. For the period ended June 30, Tesla was expected to deliver 438,019 vehicles. The company is expected to report on its quarterly earnings results for today.
THE FACTORS FORCING TESLA TO ADJUST PRODUCTION

BYDFi : BUILD Your Dream Finance

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Markets

DJIA	39,169.52	0.13%
S&P 500	5,475.09	0.27%
Nasdaq Composite	17,879.30	0.83%
Japan: Nikkei 225	40,044.26	1.04%
UK: FTSE 100	8,166.76	0.03%
Crude Oil Futures	83.51	0.16%
Gold Futures	2,336.70	-0.09%
Yen	161.63	0.11%
Euro	1.07	-0.10%
* As of market close

Supreme Court sidesteps social media law

The Supreme Court on Monday ordered lower courts to review a pair of Republican-backed laws that restrict social media content moderation in a favorable decision for the tech industry. Trade groups challenged the laws passed by conservative lawmakers in Florida and Texas in a bid to stem what they claimed was political bias by major platforms. The Supreme Court declined to rule on whether it was constitutional for states to pass legislation that limit the powers of social media companies to moderate their content, leaving the two laws in limbo.

HOW THE STATES PLAN TO RESTRICT SOCIAL MEDIA CONTENT

Bannon begins four-month prison sentence

Steve Bannon, a prominent right-wing figure in American politics and former senior advisor to Donald Trump, reported to prison Monday to begin a four-month sentence for contempt of Congress. Convicted of defying a subpoena to testify before the congressional panel that investigated the January 6, 2021 attack on the US Capitol, Bannon and others argue that legal proceedings stemming from the January 6 insurrection against the seat of US democracy amount to political persecution designed to thwart Trump's bid for re-election in November.

SEE BANNON'S DEFIANT COMMENTS ABOUT IMPRISONMENT

Hurricane Beryl hits Cat 4 in the Caribbean

Hurricane Beryl slammed into the Caribbean island of Carriacou on Monday, producing "life-threatening conditions" including disastrous 150 mph winds after the storm strengthened into a powerful Category 4. Beryl became the first hurricane of the 2024 Atlantic season over the weekend and quickly grew to Cat 4 strength, the first ever to reach that level in June. Beryl is expected to remain powerful as it rips across the Lesser Antilles, Hispaniola, Jamaica and the Cayman Islands.

SEE HURRICANE BERYL'S PROJECTED PATH OF DESTRUCTION

Extra point

What was the most powerful hurricane recorded in the Atlantic Ocean?

Monday's answer: "Zip" codes stand for "Zone Improvement Plan," which was introduced by the US Postal Service on July 1, 1963.

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