ibt-mailAug 7, 2024, 9:55 AM

Harris Names Walz VP Pick As They Hit Campaign Trail

Newsletter Aug 7, 2024 Quick Six Harris picks Walz as running mate as they hit campaign trail Kamala Harris picked Tim Walz as her running mate Tuesday, opting for the Minnesota governor as the partner

Newsletter Aug 7, 2024

Quick Six

Harris picks Walz as running mate as they hit campaign trail
Kamala Harris picked Tim Walz as her running mate Tuesday, opting for the Minnesota governor as the partner most likely to complement her in a historic White House bid. Expectations had always been that Harris would pick a white man to balance the ticket -- and the kind of Democrat who can help counter attacks from Republicans that she is too far to the left. Walz fits the bill as a 60-year-old Midwesterner with a folksy manner from a state that could be light years from the elites of California or the East Coast. They hit the campaign trail running with a tour of toss-up states.
WHO IS TIM WALZ AND CAN HE HELP HARRIS BEAT TRUMP?

Fed under pressure to cut rates to stem tide of global selloff
The stock market bounced back from the previous day's global downturn, which raised recession fears and prompted calls for the Federal Reserve to cut interest rates. Analysts remain cautious about potential market volatility. Monday's selloff was sparked by data indicating fewer US jobs created and a weak manufacturing sector. This situation raised concerns that the Fed's prolonged high interest rates could pose a risk of a potential recession.
SEE HOW WALL STREET ABSORBED MONDAY'S SELLOFF

Musk's X sues advertising group over boycott of platform
Elon Musk's X sued an advertising group and several large corporations on Tuesday, accusing them of causing billions of dollars of losses by "illegally" boycotting the social media platform. The antitrust suit targets the World Federation of Advertisers (WFA), Unilever, Mars, CVS Health and Orsted. A number of advertisers left Twitter following Musk's takeover amid concerns about the level of content moderation under the new ownership.
SEE WHY MUSK DECLARED 'WAR' ON X'S ADVERTISERS

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Markets

DJIA	38,997.66	0.76%
S&P 500	5,240.03	1.04%
Nasdaq Composite	16,366.85	1.03%
Japan: Nikkei 225	34,675.46	10.23%
UK: FTSE 100	8,026.69	0.23%
Crude Oil Futures	72.96	0.03%
Gold Futures	2,432.10	-0.50%
Yen	144.41	0.05%
Euro	1.09	0.01%
* As of market close

Tropical Storm Debby douses US Southeast

Tropical Storm Debby continued its slow progress into Georgia and the Carolinas overnight, prompting forecasters to warn residents across the South about the prolonged threat of severe flooding. Debby unleashed heavy rainfall across northern Florida, resulting in four deaths, severe river flooding, and numerous water rescues. Forecasters and officials expressed significant concern over the storm's slow movement, which could lead to extensive rainfall across the region. Predictions indicate that areas in coastal South Carolina could see up to 30 inches of rain.

GET THE LATEST ON TROPICAL STORM DEBBY'S PROGRESS

US working 'around the clock' to avoid war

The US said it was working "around the clock" to avert an all-out war in the Middle East, as Israel remained on high alert Tuesday for potential Iranian retaliation for two high-profile killings. President Joe Biden and top diplomat Antony Blinken sought to calm tensions that have soared since an Israeli attack in Tehran last week killed Hamas leader Ismail Haniyeh. Biden called King Abdullah II of Jordan, which helped down Iranian drones and missiles in an attack on Israel in April, while Blinken called top officials in Qatar and Egypt in hopes of a peaceful solution.

HOW THE US SEEKS TO AVOID A WIDER WAR IN MIDDLE EAST

World recalls Hiroshima amid global strife

The mayor of Hiroshima said Tuesday that wars in Ukraine and Gaza were deepening fear and distrust worldwide, on the 79th anniversary of the atomic bombing that devastated the Japanese city. Kazumi Matsui honored the victims of the US nuclear attack on Aug. 6, 1945 that left 140,000 dead. Days after the 1945 Hiroshima attack, a second nuclear bomb hit Nagasaki in southwest Japan, killing around 74,000. To this day Japan remains the only nation hit by atomic weapons in wartime.

HAS THE WORLD LEARNED THE LESSONS OF WORLD WAR II?

Extra point

On this date in 1782, the US created its first military decoration -- the Badge of Military Merit (now called the Purple Heart. What president appears on the medal, and who is the only president to earn the award?

Tuesday's answer: Gertrude Ederle was the first woman to swim the English Channel on Aug. 6, 1926, beating the men's record by 2 hours.

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