ibt-mailJul 24, 2024, 10:18 AM

Harris Hits The Ground Running As Democrats' Presumptive Nominee

Newsletter Jul 24, 2024 Quick Six Harris hits ground running as Dems' presumptive nominee Vice President Kamala Harris hit the ground running en route to securing the Democratic nomination for the

Newsletter Jul 24, 2024

Quick Six

Harris hits ground running as Dems' presumptive nominee
Vice President Kamala Harris hit the ground running en route to securing the Democratic nomination for the presidential election, earning enough support from state delegates and endorsements from political leaders to serve as the party's frontrunner. In the 48 hours since getting President Joe Biden's blessing, Harris has earned more than the 1,976 pledged delegates required to clinch the nomination on the first ballot. Harris also inspired donors to get back in the race, netting more $111 million for the campaign.
WHOM WILL HARRIS CHOOSE TO BE HER RUNNING MATE?

Tesla experiences drop in profits amid downturn for Musk
Tesla reported a hefty drop in second-quarter profits Tuesday due to the effect of price cuts while spending aggressively on artificial intelligence and other technology. Elon Musk's electric vehicle company reported profits of $1.5 billion, down 45%, on revenues of $25.5 billion, which were up 2% behind an increase in its energy generation and storage business. Tesla's earnings per share missed analyst expectations, while revenues exceeded it.
HOW MUSK IS EXPERIENCING ISSUES WITH COMPANIES

US existing home sales decline more than expected in June
US existing home sales fell more than expected in June, data released Tuesday showed, while the median price hit a new high. The trends come even as mortgage rates cooled slightly. But a larger stock of inventory is a strong sign that conditions are improving. Sales of previously-owned homes retreated 5.4% from May to a seasonally adjusted annual rate of 3.9 million in June.
HOW THE HOUSING MARKET REACTS TO INTEREST RATES

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Markets

DJIA	40,358.09	-0.14%
S&P 500	5,555.74	-0.16%
Nasdaq Composite	17,997.35	-0.06%
Japan: Nikkei 225	39,508.84	-0.22%
UK: FTSE 100	8,167.37	-0.38%
Crude Oil Futures	77.27	0.40%
Gold Futures	2,414.80	0.31%
Yen	155.47	-0.08%
Euro	1.08	-0.10%
* As of market close

Cheatle resigns as Secret Service director

Secret Service Director Kimberly Cheatle announced her resignation Tuesday, less than 24 hours after appearing before the House to address security lapses in the July 13 assassination attempt on former President Donald Trump's life. Cheatle was grilled by lawmakers on both sides of the aisle at the oversight committee hearing Monday, where she took full responsibility for the security failures but refused to answer many direct questions about why more steps weren't taken to prevent the shooting. Cheatle finally caved to the mounting pressure on Tuesday, although no immediate replacement has been announced.

WHY CHEATLE COULDN'T WITHSTAND BIPARTISAN PRESSURE

Biden to address nation about his decision

President Joe Biden will deliver his first on-camera remarks since announcing his decision not to seek re-election, passing the torch to Vice President Kamala Harris to take on his rival, Donald Trump. Biden is scheduled to address the nation from the Oval Office at 8 p.m. ET, tonight where he will outline his plan to "finish the job for the American people." Biden endorsed Vice President Kamala Harris as the Democratic nominee shortly after revealing his decision Sunday.

CAN BIDEN STILL BE EFFECTIVE AS A LAME-DUCK PRESIDENT?

July 21 was officially hottest day on record

July 21 was the hottest day ever registered globally, according to data published Tuesday by the EU's climate monitor. The Copernicus Climate Change Service (C3S) said the global average surface air temperature of 17.09 degrees Celsius (62.7 degrees Fahrenheit) on Sunday was the warmest in their record books, dating back to 1940. It comes as heatwaves and wildfires ravage parts of Europe and the U.S.

SUNDAY BROKE RECORD THAT WAS ESTABLISHED LAST YEAR

Extra point

Ironically, the hottest and coldest days on record fell on the same date. What was the year and the temperature of the coldest day on record?

Monday's answer: Bruce Springsteen has had 11 albums reach No. 1. However, "The Boss" has never had a song reach No. 1 on the charts.

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