Midweek News Medley
US NEWS
Reopening of Abbott's Michigan Baby Formula Plant: Abbott Laboratories announced the reopening of its Michigan plant, which had been shut down due to contamination issues. The closure had significantly contributed to the national baby formula shortage.
Highland Park Shooting Suspect in Court: Robert Crimo, the suspect in the Highland Park Independence Day parade shooting, appeared in court facing multiple murder charges. He confessed to the shooting and could face life imprisonment without parole if convicted.
Philadelphia Shooting Leaves Four Dead A gunman in Philadelphia killed four people and injured two children before being apprehended by the police. The incident involved a suspect wearing a bulletproof vest and armed with multiple weapons.
Mass Shooting in Baltimore A mass shooting in Baltimore left two people dead and 28 injured during an event called Brooklyn Day. The police are actively searching for the suspect responsible for the shooting.
Texas Heat Wave Strains Power Grid Texas is facing a severe heatwave, causing record high temperatures and increased demand on the state's power grid. Officials are asking residents to conserve energy to prevent outages.
GLOBAL NEWS AND WORLD EVENTS
Rocket Attack in Eastern Ukraine: A Russian rocket struck an apartment building in Chasiv Yar, Eastern Ukraine, killing at least six people. The attack, using Uragan rockets, destroyed the five-story building in the town of about 12,000 residents. The Donetsk region, where Chasiv Yar is located, continues to experience intense fighting as Russian forces advance.
Former Japanese Prime Minister Shinzo Abe Assassinated: Shinzo Abe, Japan's longest-serving prime minister, was shot and killed on July 8 while delivering a campaign speech in Nara. The suspected assassin, Tetsuya Yamagami, used a homemade gun. Abe was airlifted to a hospital but was pronounced dead after emergency treatment.
Italy's Political Turmoil: Italian Prime Minister Mario Draghi offered his resignation following a political crisis, but President Sergio Mattarella urged him to reconsider. Draghi’s resignation came after a coalition party withdrew support during a confidence vote over his economic policies.
Sri Lankan President Flees Amid Crisis: Sri Lankan President Gotabaya Rajapaksa fled to the Maldives amid massive protests over the country’s economic collapse. The move came just before his planned resignation, leading to a state of emergency as the nation grappled with severe shortages of essentials.
Omicron Variant Spreads Globally: The highly transmissible Omicron variant of COVID-19 continued to spread rapidly around the world. New subvariants emerged, causing significant health challenges and prompting renewed efforts to control the virus's impact.
BUSINESS AND FINANCE
Earnings Season Begins: The earnings season has kicked off, with major corporations starting to report their quarterly results. Analysts and investors are keenly analyzing these reports to gauge the financial health and future outlook of key industries.
Cryptocurrency Market Rebounds: The cryptocurrency market is seeing a rebound after a period of volatility. Major cryptocurrencies like Bitcoin and Ethereum have regained some of their lost value, attracting renewed interest from investors.
Oil Prices Fluctuate Amid Global Uncertainty: Oil prices experienced fluctuations due to ongoing geopolitical tensions and supply chain disruptions. These changes are impacting energy stocks and the broader market dynamics.
U.S. Consumer Sentiment Improves: Consumer sentiment in the U.S. showed signs of improvement, with increased spending and a positive outlook on economic recovery. This trend is contributing to the overall market gains and economic stability.
S&P 500 and Dow Jones Rally: The S&P 500 surged by 5.5%, marking its largest intraday gain since April 2020. The Dow Jones Industrial Average also jumped 1,200 points, or 3.7%, its most significant rise since May 2020. This rally was driven by broad-based gains across all sectors.
POLITICS
Biden Signs Executive Order on Abortion Access: President Biden signed an executive order aimed at maintaining access to abortion services. This move came in response to the Supreme Court's ruling, which Biden criticized as "an exercise in raw political power".
Inflation and Economic Concerns: The U.S. faced significant economic challenges with soaring inflation and high gas prices. These issues put pressure on the Biden administration, especially during the midterm elections, and fueled fears of a potential recession.
Project 2025 and Its Implications: A comprehensive plan called Project 2025, designed by Trump advisers, outlines an extensive agenda for a possible second Trump administration. This plan includes measures such as detaining and deporting undocumented immigrants, dismantling social safety nets, and eliminating LGBTQ+ rights. The plan has become a key target of Biden's reelection campaign, with Vice President Kamala Harris highlighting its controversial proposals during a recent campaign appearance.
Public Opinion on Key Issues: A recent Pew Research Center survey highlights the American public's views on critical national issues. Inflation, healthcare affordability, and partisan cooperation are seen as the most pressing problems. The survey also indicates that while Democrats have an edge on climate change and healthcare policies, Republicans hold significant advantages on economic policy, crime, and immigration.
SPORTS
Quaker State 400 Highlights: The NASCAR Quaker State 400 race took place at Atlanta Motor Speedway. Chase Elliott won the race, marking his third victory of the season. The race was marked by numerous lead changes and several cautions, with notable accidents involving Chris Buescher and Austin Dillon.
NBA Summer League Action: Daishen Nix, a former high school standout from Las Vegas, made headlines in the NBA Summer League, aiming to secure more playing time with the Houston Rockets. His performance included solid playmaking and defensive skills, showcasing his potential to contribute significantly to the team.
MLB All-Star Selections: Major League Baseball announced the final rosters for the 2022 All-Star Game. Notable selections included Shohei Ohtani, who was chosen as both a pitcher and a designated hitter, highlighting his dual-threat capability. Aaron Judge and Mookie Betts were also among the top players selected.
Serena Williams' Wimbledon Return: Serena Williams announced her intention to return to Wimbledon after a year-long hiatus due to injury. Her comeback has generated significant excitement as fans and analysts eagerly anticipate her performance at one of tennis's most prestigious events .
NFL Offseason Moves: The NFL offseason saw several key moves, including the Tennessee Titans signing former Seattle Seahawks safety Jamal Adams to a one-year contract. This move is expected to bolster the Titans' secondary as they aim to improve their defensive lineup for the upcoming season.
ENTERTAINMENT
Shelley Duvall Passes Away at 75: Shelley Duvall, known for her iconic role in The Shining and her collaborations with director Robert Altman, died at the age of 75. Her career spanned several decades, leaving a significant impact on the film industry.
Whoopi Goldberg Tests Positive for COVID Again: Whoopi Goldberg, a co-host on The View, tested positive for COVID-19 once more, causing her to miss several episodes of the show. Goldberg has been open about her health challenges during the pandemic.
Demi Moore's New Thriller The Substance Trailer Released: Demi Moore stars in the upcoming thriller The Substance, with the newly released trailer showcasing a chilling and intense storyline where Moore's character seeks youth through dangerous means.
Nelly Furtado Goes Topless on New Album Cover: Singer Nelly Furtado revealed her new album cover, in which she appears topless. She also discussed how her ADHD influenced the creation of over 400 songs for the album.
Kim Kardashian's Salmon Sperm Facial: On the latest episode of The Kardashians, Kim Kardashian shared that she had a salmon sperm facial, a unique and controversial anti-aging treatment that has also been endorsed by Jennifer Aniston.
