Good Morning! On this day in 1922, U.S. swimmer Johnny Weissmuller set a world record by swimming the 100-meter freestyle in just 58.6 seconds, becoming the first person to swim the event in less than one minute. Later, Weissmuller starred in a series of Tarzan films. Hear the legendary Tarzan call here.
With the GOP convention just a week away, former President Trump will soon name his running mate. We’re not taking sides, but we’re interested in who you think he should choose! Let us know in our poll below.
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Biden Tells Dems to Unite Behind Him
President Biden sent a letter to congressional Democrats on Monday, telling lawmakers he would not step down and demanding the party unite behind his leadership.
In the letter, linked here, Biden wrote that he has had conversations with party leaders, elected officials, and voters and believes he is “the best person to beat Donald Trump in 2024.”
Biden also called into a morning news show on Monday and blasted the party “elites” trying to push him out, saying the average voter wants him to stay in the race.
A recent poll found that 72% of registered voters want Biden to exit the race, up from 63% in February.
Boeing to Plead Guilty for 737 Max Crashes
Boeing is set to plead guilty to criminal fraud conspiracy related to the fatal crashes of two 737 MAX airplanes in 2018 and 2019.
Under the plea deal, pending a federal judge’s approval, the company would face a $243.6 million fine and three years’ oversight by a corporate probation monitor.
Additionally, Boeing must invest $455 million in compliance and safety programs and agree to board meetings with crash victims’ families.
The guilty plea gives Boeing a criminal conviction, which may complicate its ability to secure future government contracts. Those deals accounted for 32% of its $78 billion annual revenue in 2023.
Beryl Leaves Millions Without Power
Hurricane Beryl hit Texas Monday, killing two and leaving more than 2 million people and businesses without power in the Houston area and knocking down hundreds of trees.
Beryl was downgraded to a tropical storm soon after making landfall, but the National Hurricane Center said high winds and flash flooding would continue as the storm pushed inland. It was one of the earliest hurricanes to hit Texas.
Forecasters have issued tornado watches and warnings across Texas, Louisiana, and Arkansas for the next day or two as the storm winds down. Here’s a list of cities under tornado warnings.
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➤ House Democrats are expected to convene at party headquarters today after several lawmakers publicly called for President Biden to resign. Members were instructed not to bring their cell phones. (More)
➤ The RNC passed a draft party platform on Monday that shifts the GOP’s stance on abortion, trade, immigration, and foreign policy to mirror former President Trump’s positions on the issues. (See Details)
➤ Former President Trump has narrowed down his list of potential running mates and may announce his decision this week, according to a campaign official who described the candidates as an “embarrassment of riches.” (More)
➤ A Philadelphia radio host who interviewed President Biden last week was fired from her station after admitting the Biden campaign gave her questions in advance. (More)
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7 Mistakes People Make When Choosing A Financial Advisor
Working with a financial advisor can be a crucial part of any healthy retirement plan.
Research suggests that people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.¹ But choosing the wrong one could wreak havoc. Avoiding these 7 mistakes when hiring an advisor could help you potentially save years of stress. See the list.
For many Americans, knowing how to find a vetted fiduciary advisor is the most confusing task of all. That’s why SmartAsset developed a free quiz to help match you with up to 3 vetted financial advisors serving your area, each legally bound to work in your best interest. It’s never too late to plan to work toward a comfortable retirement.
1. “Journal of Retirement Study Winter” (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.
➤ Minnesota Vikings rookie cornerback Khyree Jackson died in a car accident in Maryland, the team announced Saturday. The car Jackson and two friends were in was struck by a car changing lanes at high speed. (More)
➤ Two-time NBA MVP Giannis Antetokounmpo is heading to the Olympics for the first time in his career, representing Greece. (More)
➤ Dan Hurley agreed to a new six-year $50 million contract with UConn on Monday—a month after the two-time national champion basketball coach turned down a $70 million contract with the Los Angeles Lakers. (More)
➤ Team USA basketball players Stephen Curry, LeBron James, and other stars struggled to spin a basketball on their fingers during an Olympics photo shoot. (See Video)
NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations
18,403.74
+0.28%
▲
SPX S&P 500
5,572.85
+0.10%
▼
DJI Dow Jones Industrial Average
39,344.79
-0.08%
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BTC Bitcoin
$56,327.89
+0.86%
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GOLD Per Ounce
$2,366.40
-0.93%
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MORF Morphic Holding Inc.
$23.90
+75.06%
➤ Big Stock Move: Morphic Holding stock shot up 75% Monday on news that the biopharmaceutical company was being sold for $3.2 billion to Eli Lilly. (More)
➤ Sullivan & Cromwell, a prominent Wall Street law firm, now requires job applicants to reveal any involvement in protests, particularly concerning the Israel-Gaza conflict, stating they “won’t tolerate antisemitic behavior as seen on campuses.” (More)
➤ After months of negotiations, Paramount Global agreed to merge with Skydance, ending the Redstone family’s control over the movie studio and CBS network. Skydance founder David Ellison will lead the merged Hollywood studio. (See Details)
➤ Despite record-high summer air travel, U.S. airline stocks have underperformed as higher labor and other costs have eaten into profits. (More)
Who are you partnered with? It’s no secret these could be considered three of the most popular brokerage firms. But, they stack up slightly differently when it comes to fees and their specific suite of services. Learn more about who should work with Vanguard, Fidelity, and Schwab. See the comparison.
Try SmartAsset’s no-cost tool to get matched with up to 3 vetted financial advisors serving your area. While your advisor matches may not necessarily be associated with the above institutions, consulting a fiduciary can be a great first step to helping make sure you’re on track to reach your retirement goals.
➤The Ariane 6, Europe’s new spacecraft, is set for its inaugural flight today from French Guiana. The rocket, carrying small satellites and experiments, will launch years behind its original 2020 target date. (See Details)
➤ Lone Pine, the world’s oldest koala sanctuary in Brisbane, Australia, announced it will no longer allow visitors to hold koalas to reduce stress on the animals. (See Photos)
➤ Scientists discovered a second species of vampire squid in the South China Sea. The creatures are bioluminescent and able to thrive in low-oxygen environments. (See Images)
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➤ Paris’ Moulin Rouge cabaret celebrated the restoration of its iconic red windmill, which had collapsed in April, with a special ceremony featuring can-can dancing. (See Photos)
➤ A new ranking lists 11 of the best rest stops and truck stops in the U.S., including the world’s largest truck stop and a stop with a reptile exhibit and observation tower. (See List)
➤ A vacation spent in silence may seem daunting, but meditation retreats, from donation-based 10-day Vipassana courses to luxurious options, are growing in popularity. (See Details)
➤ Washington D.C. police found a French Bulldog named Yurman, who was stolen at gunpoint on Saturday, and returned him to his owner. (See Video)
➤ Divers in the Aegean Sea discovered 300 new objects from the 2,000-year-old Antikythera shipwreck, including the remains of a second sunken vessel beneath its hull. (See Photos)
➤ McDonald’s removed salads from its U.S. menus over a lack of demand, saying hot sandwiches and McDonald’s fries are what the burger chain’s customers want. (More)
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Biden Tells Dems to Unite Behind Him
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