SATURDAY, JULY 6, 2024

Happy Saturday! On this day in 1785, the Continental Congress established the dollar as the official currency of the newly established United States, paving the way for a national monetary system.

Speaking of 1785, we did a little poking around and found that since then the purchasing power of the dollar has gone down by... well, maybe we shouldn't mention that number. This is supposed to be a fun intro for the weekend! Enjoy it, folks, and thanks for reading today.

As always, don't hesitate to share your thoughts with us and reply to this email.

Our sponsor this weekend is GoldCo. Be sure to check out their financial advice on IRS loopholes in 2024.

Trump Disavows Project 2025

Former President Donald Trump distanced himself from the Heritage Foundation’s Project 2025 on Friday, stating that he was not involved with the project and disagreed with some of its content.

Project 2025 is a 900-page “governing agenda” outlining conservative priorities and insight from scholars and policy experts. The document has since become a talking point for Democrats and the Biden campaign.

Last November, Trump unveiled his own agenda for a potential second term that included overhauls to immigration, trade, foreign policy, energy, and education.

As for the Heritage Foundation’s agenda, Trump said, “Anything they do, I wish them luck, but I have nothing to do with them.”

U.S. Labor Market May Be Cooling

The U.S. economy added 206,000 jobs in June, while the unemployment rate rose to 4.1 percent, according to data released by the Labor Department on Friday.

Friday’s job numbers slightly exceed the projected 190,000 jobs, and the 4.1% unemployment rate is the highest since November 2021, indicating a potential cooling off in the labor market.

The Labor Department revised job numbers from May and April, showing the economy added 111,000 fewer jobs than initially reported.

Shark Attacks Four Off Texas Coast

Authorities believe a single shark attacked four swimmers on Thursday at South Padre Island, Texas, leaving one victim with a serious injury to her lower leg. You can see photos of the incident here, but be advised that they're graphic in nature.

Texas Parks and Wildlife officials said it appeared the shark was involved in four separate incidents which resulted in two bites, one severe and another injured, fending off the shark.

The Independence Day attacks followed reports of several large sharks along the eastern and southeastern coast earlier this week, including a massive 13-foot great white detected off the coast of Florida on Wednesday.

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➤ President Biden's interview with ABC News' George Stephanopoulos failed to alleviate concerns yesterday about his condition, at least according to most pundits. The President demurred several times when asked if he would commit to an independent cognitive test. (More)

➤ Speaking of President Biden, Democrat mega-donor Abigail Disney, an heiress to the Disney family fortune, announced on Thursday that she would withhold donations to the party until Biden drops out. (More)

➤ Wisconsin’s Supreme Court ruled 4-3 to reinstate the use of secure ballot drop boxes on Friday, overturning a previous decision that banned the boxes over concerns about voter fraud. (More)

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➤ World Aquatics has confirmed that the U.S. Justice Department is investigating why 23 Chinese swimmers who failed doping tests in 2021 were allowed to continue competing. (More)

➤ Dallas Cowboys quarterback Dak Prescott was spotted in a walking boot in Mexico on Thursday. The cause of the injury is unknown. (More)

➤ Buddy Hield agreed to a two-year, $21 million contract as part of a sign-and-trade, sending him to the Golden State Warriors in exchange for a future 2nd-round pick. (More)

➤ Yesterday's Results: MLB | WNBA | PGA

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Daily Market Report 07/05/2024

▲	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	18,352.76	+0.90%
▲	SPX S&P 500	5,567.19	+0.54%
▲	DJI Dow Jones Industrial Average	39,375.87	+0.17%
▼	BTC Bitcoin	$56,443.61	-0.39%
▲	GOLD Per Ounce	$2,388.50	+1.22%

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➤ Volcanic eruptions in southern Italy raised alert levels and shut down the Catania Airport on Friday, as the Mount Etna and Stromboli volcanoes spewed hot ash and lava in Sicily. (See Photos)

➤ Sir Keir Starmer was elected Britain’s new prime minister on Friday, following a historic landslide victory for the Labour Party that ended 14 years of Conservative leadership. (More)

➤ Former Brazilian President Jair Bolsonaro has been charged with money laundering and criminal association for receiving undeclared diamonds from Saudi Arabia during his time in office. (More)

➤ Archbishop Carlo Maria Viganò, a former Vatican ambassador to the U.S., was excommunicated on Thursday for failing to “recognize and submit” to Pope Francis’s authority and rejecting communion with members of the church. (More)

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➤ Florida and Tennessee authorities have accused a therapist of aiding her unlicensed and untrained wife in impersonating her during online therapy sessions, defrauding hundreds of patients for almost two years. (More)

➤ Several people were injured during an Independence Day celebration in Utah on Thursday when at least four fireworks misfired into the LaVell Edwards Stadium’s stands and onto the field. (See Video)

➤ Americans celebrated the 248th anniversary of the U.S. on Thursday with parades, festivities, American flags, and a lot of colorful fireworks. (See Photos)

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