WORD ON THE STREET 

• A New Challenger Enters – California Governor Gavin Newsom hasn’t exactly been shy about concealing his ambitions. With President Joe Biden struggling in the polls and Vice President Kamala Harris doing even worse, some Democrats are talking up Newsom as a possible candidate if the Commander-in-Chief pulls out. Newsom says he is not running… but these things have a way of changing with time

• Meta Prepares Twitter Competitor – Meta Platforms is preparing more data for the app it is hoping will take down Twitter. “Threads, an Instagram app” is available for pre-order in app stores now. It is supposedly “expected” to start this Thursday.

• Ukraine Claims Russia Preparing Something At Nuclear Plant – Ukrainian President Volodymyr Zelenskyy claimed Russia was engaging in “dangerous provocations” at the Zaporizhia nuclear plant. Russia currently controls the plant. Ukraine has claimed Russia has installed explosives on the plant, possibly to “create a picture of shelling from the Ukrainian side.”

• Markets Await Minutes From Fed Meeting – Minutes from the June 13-14 Federal Reserve meeting will be released today. The minutes will be closely examined and likely dominate the trading day as investors decide whether they herald additional interest rate hikes in the future.

HOT SPOTS: What’s Going on in Geopolitics

• US Prepares More Restrictions On China – The Biden Administration is reportedly preparing to place restrictions on cloud computing services in China by companies like Microsoft and Amazon. The White House is already considering an export on AI chips to the People’s Republic.
  

• Israel Ends West Bank Operation – After a two-day operation that killed 13 Palestinians, Israel has withdrawn from the West Bank. It claimed success in inflicting heavy damage on militant groups. “We will eradicate terrorism wherever we see it and we will strike at it,” said Prime Minister Benjamin Netanyahu.

• “Going To Plan” – “So far things are developing according to plans that were drawn up and approved,” said General Oleksandr Syrskyi, head of Ukrainian ground forces. Ukraine has launched a counteroffensive that has retaken a string of villages, but some in the West claim the attack is proceeding too slowly.

CUTTING EDGE: What‘s Happening In Tech

• Apple Sets A Low Bar – Not long since promising us that the Vision Pro would change everything, Apple is now changing its story. According to the Financial Times, Apple is lowering its production targets to less than 400,000 units. The key culprit- manufacturers can’t figure out its complex design.

• Scientists Claim July 3 Was The Hottest Day Ever – According to University of Maine scientists at the Climate Reanalyzer project, global temperatures hit the highest levels ever in human recordkeeping history. However, other bodies including the National Oceanic and Atmospheric Association have to validate the entry before the record is set for good. If it is, I don’t expect we’ll ever hear the end of it.

• Yahoo Coming Back To The Stock Market – CEO Jim Lanzone claims Yahoo is “very profitable” and may be preparing an IPO. The company is looking to grow aggressively, most recently buying sports-betting app Wagr.”

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