Good morning. It's Thursday, May 13, and we're covering escalating violence in Israel, concerns over rising inflation in the US, and much more. Have feedback? Let us know at hello@join1440.com.

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NEED TO KNOW

Escalation in Israel

The death toll from clashes between the Israeli military and Hamas militants in the Gaza Strip rose to at least 72 yesterday, including 65 Palestinians and seven Israelis, according to reports. Hamas, an Islamic militant and political group that controls the region, has reportedly fired more than 1,000 rockets into Israel in the past three days, while Israeli officials say airstrikes have hit more than 500 targets.

Of the dead, 17 children have been killed (16 Palestinians, one Israeli), with officials saying 25 Hamas militants have been killed in strikes.  The violence is the worst since 2014, when a seven-week war left almost 2,400 people dead, mostly Palestinian civilians. The conflict appears likely to escalate—reports suggest Israeli military officials are considering the option of a ground invasion of Gaza. Meanwhile, clashes between Arab and Jewish nationals have broken out in the streets of many Israeli cities. 

Major airlines have begun diverting flights headed to the country. See photos from the conflict here. 

Inflation Concerns

The consumer price index rose 4.2% in April compared to the same month last year, officials reported yesterday, the largest year-over-year increase in prices since 2008. The index measures the price of everyday items like groceries, clothes, and activities, and is closely linked to inflation—an effect where consumers are able to buy less with every dollar they spend. 

Analysts pointed to a number of drivers for the price rise: a flood of consumer spending, pandemic-induced supply chain issues, and prices returning to normal after a year of weakened demand. Beyond short-term price normalization as the economy recovers, many have expressed concern that the more than $5T in economic stimulus passed over the last year and federal interest rates near zero (see overview) will lead to an overheated economy.

The news follows a weak April jobs report that undershot expectations by more than 730,000. 

Ellen Plans Her Exit

Ellen DeGeneres announced yesterday she will end her long-running daytime talk show in 2022 after its upcoming 19th season. The decision is said to have been many years in the making, and DeGeneres attributed her choice to end the show to her desire for a new challenge as well as the end of her current contract.

The news also comes months after employees made allegations of a toxic work environment, including racism and sexual misconduct, which dominated headlines last year. The program lost more than 1 million viewers over the course of the 18th season, which DeGeneres opened with an apology. The comedian denies the allegations are the reason behind the show’s ending. 

The show has been largely successful in the past, collecting dozens of Daytime Emmy awards and DeGeneres herself receiving the Presidential Medal of Freedom in 2016. The host will sit down with former daytime host Oprah Winfrey to discuss the news today (4 pm ET, NBC). 

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IN THE KNOW

Sports, Entertainment, & Culture

Brought to you by The Ascent

> International Olympic Committee announces Tokyo Summer Olympics to go on despite growing calls for cancellation due to rising COVID-19 cases in Japan (More)

> NFL releases schedule for upcoming 2021 season, the first-ever to feature 17 regular-season games (More) | See schedule analysis and predictions for all 32 teams (More)

> Jay-Z, Tina Turner, and Foo Fighters among 13 inducted into 2021 class of the Rock & Roll Hall of Fame; ceremony set for Oct. 30 on HBO (More)

From our partners: How many credit cards are in your wallet? Make your answer "one." The Ascent's credit card expert personally signed up for this card because of its perfect mix of benefits. Up to 5% cash back, a big bonus, no annual fee, the list goes on.

Science & Technology

> New brain-computer interface allows users to translate thought into text on a screen; application may help those who are paralyzed communicate more efficiently (More)

> Hacker group releases private personnel records of Washington, DC, police officers after city refuses ransom; officials reportedly offered $100K instead of the demand for $4M (More)

> Scientists find fake pollen, used by orchids to trick insects into helping them reproduce, is as nutritious as regular pollen; first-of-its-kind study sheds light on the coevolution of insects with the flowering plants (More)

Business & Markets

> US stock markets slide (S&P 500 -2.1%, Dow -2.0%, Nasdaq -2.7%) as April inflation figures scare investors; Dow sees worst fall since January (More)

> US gas prices top $3 per gallon for first time since 2014 (More) | Colonial Pipeline restarts operations following ransomware attack; shut down since the weekend, the network delivers an estimated 45% of the East Coast's gas supply (More)

> Elon Musk tweets Tesla will no longer accept Bitcoin as payment method due to its rapidly increasing use of fossil fuels; company will not sell Bitcoin on its balance sheet (More) | Tech initial public offerings drive highest annual profit for SoftBank; Japanese tech giant commits $30B for Vision Fund 2 (More)

Politics & World Affairs

> House Republicans vote to remove Rep. Liz Cheney (R, WY-At large) from leadership in closed-door voice vote; members said Cheney's criticism of former President Donald Trump was at odds with GOP messaging (More) | Cheney responds, reiterates stance (More) | See our previous write-up (More)

> Daily COVID-19 deaths in the US fall to their lowest level in 10 months, hovering near 600 per day; new cases fall below 40,000 per day (More) | Almost 59% of US adults have received at least one vaccine dose; see how your state is doing (More) | Pfizer/BioNTech shot approved for 12- to 15-year-olds (More)

> Mysterious brain injuries in US personnel more widespread than previously acknowledged, with at least 130 cases identified; government investigating cases involving CIA employees (More, $$, NYT)

IN-DEPTH

An Invisible Wound

Task & Purpose | Worth Parker, Rachel Lance. An exploration of the effects of wartime traumatic brain injuries on America's service members, which linger long after they return home. (Read)

The Battle for 1042 Cutler Street

WashPo | Eli Saslow. A year's worth of eviction moratoriums kept millions of families in their homes amid the pandemic-induced economic crisis. But the decision had unintended consequences, driving many small landlords into bankruptcy. (Read, $$)

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ETCETERA

The world's best new restaurants for 2021.

Vladimir Putin scores eight goals in hockey match.

This website lets you track sharks in near real-time.

Fossil reveals a Jurassic squid devoured mid-meal.

A brief history of the world's pasta shapes.

Chick-fil-A has a sauce shortage.

More than 37 million Americans expected to travel for Memorial Day.

How to trade your way to homeownership.

Clickbait: The first person to dive from a moving hot air balloon. 

Historybook: The US declares war against Mexico in dispute over Texas (1846); "Golden Girls" actress Bea Arthur born (1922); HBD Stevie Wonder (1950); Pope John Paul II is shot, survives assassination attempt (1981); RIP actress and singer Doris Day (2019).

"I believe that you're here on Earth for a short time, and while you're here, you shouldn't forget it."

- Bea Arthur

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