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Global News

Summer Heat Won't Cool Down College Protests

Students Gear Up for Sustained Nationwide Demonstrations

Recent college protests across the U.S., particularly concerning the war in Gaza, are showing no signs of slowing down with summer approaching. Student activists, spurred by calls for an end to the war and for universities to divest from Israeli companies, are planning continued actions throughout the summer. Demonstrations have been notably vigorous at institutions like Columbia University and Portland State University, with significant police responses and arrests. President Biden has expressed the need for peaceful protest, acknowledging the importance of dissent in democracy. College administrators are hopeful for a quieter summer but are prepared for ongoing activism. Experts are split on whether this will become a sustained movement or dissipate as students disperse for summer break.

Key Takeaways and Implications:

1. Politically: The persistence of protests could influence public perception and political agendas, especially with the Democratic National Convention approaching. There's concern within the Democratic Party that continued unrest could negatively impact President Biden's reelection campaign. The demonstrations could also prompt political leaders to address foreign policy and civil rights more aggressively to appease young voters and activists.

2. Economically: The focus on university divestments from Israeli companies could pressure other institutions and businesses to reconsider their investment strategies and corporate governance, potentially leading to broader economic implications. Persistent protests could also impact local economies, particularly in college towns, affecting everything from police budgets to local businesses.

3. General Impact on the U.S.: The movement's ability to sustain itself through the summer could turn it into a significant social force, akin to past movements like the civil rights protests or anti-Vietnam War demonstrations. This could lead to a broader national dialogue on issues like foreign policy, racial justice, and the role of activism in shaping public policy. Moreover, the integration of this movement with other social justice initiatives could lead to a more unified approach to activism in the U.S., influencing policy and societal norms on a larger scale.

Economy / Finance

April’s Positive Job Report Lowers Rates….But Not By Much

Well, the April jobs report seems to be throwing homebuyers a bone, doesn't it? It's like the universe is saying, "Here's a tiny break on those mortgage rates, folks!" But hold your horses, because the real showstopper is yet to come - the next inflation report. That's the one that's going to really make or break the direction of those rates.

So, after three months of nail-biting, we finally get a jobs report that's softer than a pillow. It's like the job market took a chill pill after its hot streak. Sure, mortgage rates might dip a little after today's lackluster labor data, calming everyone's fears about runaway inflation. But let's not forget, the Fed's playbook is written in ink, not pencil - and it's the inflation numbers that hold the real power over their decisions.

Now, let's talk numbers. Everything in this report seems to have missed the memo. Job growth? Below expectations. Unemployment rate? Sneaking up when it should've stayed put. Even average hourly earnings? Not exactly setting any records. But hey, this report's got economists dusting off their '2024 rate cut' banners after months of uncertainty. It's like the Fed just got a permission slip to relax a bit, courtesy of today's underwhelming data. So, sure, mortgage rates might catch a breather today, but until inflation decides to play nice, we're all just along for the rollercoaster ride.

This Week in Earnings: Overview

Get ready for another eventful week in the financial markets as numerous high-profile companies across various sectors announce their quarterly earnings. Each report offers valuable insights into their operational successes and challenges. Here's your day-by-day guide:

Key earnings insights this week:

• Affiliated Managers Group (AMG) begins the week strong with an expected EPS of $5.23. A high EPS indicates robust profit margins, which could signal strength in the asset management sector, possibly hinting at growing investor confidence in market-managed portfolios.

• Walt Disney (DIS) steps into the spotlight with an EPS forecast of $1.10 on $22.1 billion in revenue. Post-proxy battle, Disney’s focus on refining its streaming services and leadership strategies could provide clues about the evolving dynamics in the entertainment industry, especially in digital content distribution.

• Arm Holdings (ARM) is set to report after market close, with expected revenue of $878.2 million and an EPS of $0.30. As a newly public company, ARM's performance is a indicator for the tech sector, particularly in semiconductor and microprocessor markets. Growth here could indicate rising demands in consumer electronics and IoT devices.

• Cerence (CRNC), which specializes in AI for driving, predicts a challenging quarter with an EPS of -$0.22. This forecast could be a critical indicator of how economic conditions are impacting the high-tech automotive solutions market, highlighting potential slowdowns or shifts in consumer and OEM investment strategies.

• DigitalOcean (DOCN), a key player in cloud infrastructure, expects an EPS of $0.38. Their performance can serve as a gauge for cloud services demand among startups and SMBs. A positive report might suggest a healthy tech startup ecosystem and ongoing digital transformation trends.

Weekly Earnings Snapshot:

Sports

LeCoach Killer

Entire Coaching Staff Axed After Playoff Exit, Search for New Leader Begins

LeBron James recent outburst over his team not challenging a call may have been the final nail in the coffin. The Los Angeles Lakers have made swift moves in their coaching department, following the firing of head coach Darvin Ham. Dan Woike of the Los Angeles Times reported that the Lakers have also let go of their entire assistant coaching staff. Among those dismissed was Phil Handy, a respected assistant coach who had been with the Lakers since 2019, working under both Ham and former head coach Frank Vogel.

Handy's departure is notable given his reputation and previous consideration as a potential head coach. However, despite his past mention as a possible successor to Ham, Handy was not among the candidates disclosed by Shams Charania of The Athletic. The Lakers are reportedly targeting Mike Budenholzer, Kenny Atkinson, and JJ Redick for their head coaching position.

While it's common for new head coaches to assemble their own coaching staff, the decision to clean house entirely is surprising. Despite the improvement in the team's win total under Ham, their season ended with a first-round playoff exit against the Denver Nuggets.

The Lakers now face the task of finding a new head coach and rebuilding their coaching staff for the upcoming offseason. Additionally, LeBron hasn’t committed to playing another season however it’s widely speculated next season is expected to be his final year. Regardless, should James play this season, it will be under the 10th different head coach in his NBA career.

When Fans Go Out Of Bounds

In the heat of a football match, emotions can run high, leading to regrettable actions. Tony, a Sheffield United fan, experienced this firsthand when he let his temper get the best of him during a game against Nottingham Forest. With his team drawing 1-1 and a missed opportunity to take the lead, Tony directed a homophobic insult at Matt Turner, the opposing team's goalkeeper. What followed was a series of events that would change Tony's perspective and lead to a path of education and remorse.

Tony's outburst, although brief, had lasting consequences. Fellow fans reported him, leading to a ban from Bramall Lane pending an investigation. He was also summoned to a police station to address the incident, facing the possibility of criminal charges. This turn of events brought Tony to the attention of Kick It Out, English football's primary anti-discrimination organization. Learn more about “Tony” and the efforts of Kick It Out from Daniel Taylor at the Athletic.

Entertainment

Joel Olsteen in a Rap Beef

A Headline I Never Thought I’d Write

Mega Paster Joel Olsteen found himself in a rap beef with Kendrick Lamarr and Drake. Go ahead and mark that off your 2024 bingo cards. Kendrick Lamarr name dropped him in a verse, where he actually meant to reference Haley Joel Osment. When you see the verse you can see the mix up “Funny, he was in a film called AI / And my sixth sense tellin’ me to off him.”

The internet promptly did it’s thing and got both Joel Olsteen and Haley Joel Osment trending on X (Formerly Twitter). If you want a good laugh you can read some of the tweets in an article by relevant magazine here.

I would have loved to see Joel Olsteens PR team trying to figure out how to respond to being in the middle of a rap beef, hat tip to whoever convinced them not to respond at all. There’s no world where they come up with something that put’s them in a good light. Enjoy the engagement pop and keep it moving.

Weekly Commute

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