A new study shows that the pandemic pushed 18,000 children into poverty in New Zealand.
Two men in Australia were arrested for punching police horses at anti-lockdown protests. What does that accomplish?
*Stock data as of market close, cryptocurrency data as of 5:00 am ET.
Markets: U.S. Treasury yields fell slightly this morning, as the Federal Reserve is set to kick off its two-day policy meeting. Investors are waiting to see if there's any mention of tapering, aka reducing the amount of money it throws at Wall Street.
Housing: The housing boom is over. Sales of new single-family homes fell to an annualized rate of 676,000, 6.6% below May’s rate of 724,000 and 19.4% below the June 2020 level of 839,000.
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The U.S. dollar is enjoying a comeback. Investors are starting to invest in the dollar for the first time since March of 2020.
The Federal Reserve will meet on Wednesday to discuss bond purchases and how to continue to strengthen the currency. Inflation continues to be a major concern. The dollar may be high relative to other currencies but it still has less purchasing power as the price of goods continues to rise.
It’s a temperamental time for international markets. Chinese markets continued Monday’s sell-off into Tuesday and global concerns about the Delta variant are causing investors to tread lightly.
Bitcoin had been rising steadily until Amazon denied rumors that it would accept crypto payments on Monday. This caused the value of Bitcoin to drop from a peak of $40,581 on Monday to $37,470.
Tesla Exceeds All Expectations
Tesla earnings are news because the company tends to pull the market with it, either up or down. This quarter they are up! Tesla stock is up 2% since reporting second-quarter earnings on Monday.
The company beat revenue expectations of $11.3 billion by earning $11.96 billion. Net income passed $1 billion for the first time. In Q2 last year, net income was $104 million so that is quite the annual jump!
Tesla reported $23 million in Bitcoin holdings as an operating expense under “Restructuring and other,” meaning they intend to do something different with it but they’re not clear on what. Hmm…?
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$200. That is how much a side of fries costs at New York City’s Serendipity 3 restaurant. You can order it up with a $295 hamburger and $1,000 ice cream sundae. Guinness World Record has certified the fries as the world’s most expensive. They are cooked in champagne and fried in goose fat.
$5,800. That was the fine that a judge gave a woman who left food out and attracted a bear at a campsite in Grand Teton. Officials had to track and euthanize the bear (!?!?!?) so they passed that cost onto the woman.
83. That is the age of a woman who earned a fifth-degree black belt in karate. She was awarded her ranking by none other than Chuck Norris.
The drug war in Mexico is getting more violent and serious by the day. A major cartel shooting on June 24 left 20 people dead and police have made no arrests. Nor does it seem they are going to.
Two warring cartel gangs have been fighting for control of Zacatecas, the centrally-located state that allows drug traffic in all directions. The turf war continues to turn deadly with a doctor, a priest and several families turning up dead simply for being near the violence.
Non-drug supplies have a problem passing too. According to the Associated Press, “When the shootouts rumble across the plains dotted with ranches, farmers often can’t go out to feed their livestock. Goods to stock store shelves and medical care frequently don’t arrive for fear of cartel roadblocks. Gunmen stop residents and demand their cell phones to look for information that could tie them to the other cartel. They sometimes beat people or tie them up regardless to instill fear.”
The gangs fight for access to fentanyl. The chemical to make it arrives at Pacific ports and travels inland to be processed into pills. It is then shipped off to be sold for high profits, particularly in the U.S. Last year, a record 93,000 people died of fentanyl overdoses in the U.S.
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