SATURDAY, AUGUST 3, 2024

Good Morning! On this day in 1492, Italian explorer Christopher Columbus departed from Spain on a journey to find a western sea route to China, India, and the fabled gold and spice islands of Asia.

It's finally back-to-school season for many of us. Here’s a tip from one veteran parent: be sure to remind sixth graders that middle schools don’t have playgrounds.

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Jobs Report Tanks Stocks

A weaker than expected jobs report triggered a plunge in the stock markets on Friday as investors and analysts fear the U.S. economy could be slowing down faster than predicted.

The economy added only 114,000 jobs in July, which is below the expected 185,000 and down significantly from the 206,000 added in June. Additionally, the unemployment rate climbed to 4.3%, marking its fourth-straight monthly increase and its highest level since October 2021.

The Nasdaq lost more than 2%, the Dow fell more than 600 points, and the S&P was also down 2%. In other bad news, the 10-year Treasury yield fell to its lowest since December, and factory orders fell 3.3%.

Friday was the second consecutive day of heavy losses, some believe, was a sign that the Federal Reserve had erred by delaying interest rate cuts.

Wildfires Continue to Burn in Western U.S.

The Park Fire has become California's fourth-largest wildfire in history, scorching nearly 400,000 acres and demolishing over 500 structures as the disaster has reached its tenth day. You can see photos of the fire here.

The fire has burned over 600 square miles in four counties and has forced the evacuation of more than 25,000 people. About 6,000 firefighters have been involved in the efforts to contain the Park Fire.

Wildfires also continue to burn in parts of Oregon and Colorado. The Durkee Fire in Oregon has torched nearly 300,000 acres since July 17, and fires in Colorado have forced evacuations and claimed at least one life.

List: World's Greatest Travel Destinations

According to a new list, 22 of the 100 greatest places to travel on the planet can be found in the United States.

Alabama’s Montgomery White Water Park and Las Vegas’ $3.7 billion Fontainebleau hotel and casino are among the U.S. spots on the list.

More offbeat destinations featured include the luxurious bubble huts in Queen Maud Land, Antarctica, and Belmond’s Eastern & Oriental Express train, which showcases Malaysia’s natural landscapes during its journey. For the full list, click here.

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➤ Vice President Harris secured the Democratic presidential nomination after a virtual roll call vote on Friday. Her campaign raised over $300 million in July. (More)

➤ The Department of Justice filed a lawsuit against TikTok on Friday, alleging the app allowed users under the age of 13 to create accounts, collected their data, and disregarded parental requests to delete the information. (More)

➤ Americans Evan Gershkovich, Paul Whelan, and Alsu Kurmasheva have returned to U.S. soil after a historic prisoner exchange with Russia, landing late Thursday and reuniting with their families. (More)

➤ Former President Trump pledged to eliminate taxes on Social Security for 67 million Americans on Wednesday, stating that seniors should not have to pay taxes on their retirement and disability benefits. (More)

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➤ Chicago Bears reserve quarterback Brett Rypien threw three touchdown passes and led his team to a 21-17 victory over the Houston Texans in the storm-shortened Hall of Fame Game on Thursday night. (More)

➤ Baltimore Orioles’ rookie Jackson Holliday hit his first MLB home run on Wednesday, a 439-foot fifth-inning grand slam that helped the Orioles beat the Toronto Blue Jays 10-4. (See Grand Slam)

➤ A federal judge overturned the jury verdict in the NFL’s Sunday Ticket lawsuit on Thursday, determining that the NFL didn’t violate antitrust laws and isn’t liable for more than $14 billion in damages. (More)

➤ Yesterday's Results: MLB

Today's Olympic section is brought to you by:

The U.S. women's foil fencing team made history on Thursday by winning the first-ever team gold medal in U.S. fencing, upsetting Italy, who had won four of the last six gold medals in the event. (More)

The U.S. men's soccer team's Olympic journey ended with a 4-0 defeat to Morocco, dashing hopes after their first knockout round appearance since 2000. (More)

Hungary's Boxing Association will contest the controversial quarterfinal bout between Anna Luca Hamori and Algeria's Imane Khelif, who had previously faced a ban from international competition over questions about her gender. (More)

What to watch: U.S. Olympic athletes have crucial matchups across multiple sports today, with men's basketball taking on Puerto Rico, women's soccer battling Japan in the quarterfinals, and men's tennis aiming for gold and bronze in doubles on the famed clay courts at Roland-Garros. (See Full Schedule of Events)

Paris 2024 Results: Events | Medals

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Market Report 08/02/2024

▼	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	16,773.22	-2.45%
▼	SPX S&P 500	5,346.56	-1.84%
▼	DJI Dow Jones Industrial Average	39,737.26	-1.51%
▼	BTC Bitcoin	$61,361.4	-6.14%
▲	GOLD Per Ounce	$2,486.35	+0.22%

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➤ Children of Russian spies posing as Argentinian citizens discovered their true identities mid-flight to Moscow following a landmark prisoner swap on Thursday. (More)

➤ President Nicolás Maduro called for an audit of last Sunday’s disputed presidential election while also threatening to arrest Venezuelan opposition leader Maria Corina Machado, whose offices were raided. (More)

➤ Nigerian security forces clashed with protesters demanding economic and governmental reforms on Thursday, firing gunshots and tear gas into the crowd, resulting in at least two deaths. (More)

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➤ Paingone Plus is a pocket-sized pain relief pen that delivers targeted relief for your acute or chronic pain in less than 1 minute. It’s natural, fast-acting, and works almost anywhere on the body! (See It Here)

➤ The annual Florida Python Challenge kicks off next week, offering participants a chance to win $10,000 for capturing the most Burmese pythons, helping to curb the invasive species' impact on the Everglades ecosystem. (More)

➤ Dragon-shaped lava flows, swimmers in the frozen Baltic Sea, and whales frolicking near boaters are some of the winning entries in this year’s Drone Photo Awards. (See Photos)

➤ The remnants of ElectraMeccanica's Solo EVs, the three-wheeled electric commuters, now rest in an Arizona scrapyard after the company decided to scrap the recalled vehicles instead of repairing them. (See Photos)

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