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Today’s Rundown:
- DOW, S&P 500, NASDAQ SOAR AS TRUMP ANNOUNCES ‘90-DAY PAUSE’ ON TARIFFS FOR MOST COUNTRIES, INCREASES LEVIES ON CHINA: U.S. stock markets experienced significant gains after President Trump announced a 90-day pause on new tariffs for most countries, while increasing tariffs on Chinese imports to 125%. The S&P 500 surged by 9.52%, and the Nasdaq Composite saw a 12.16% rise, marking some of the most substantial single-day gains in recent years.
- TRUMP ADMINISTRATION HALTS $1 BILLION IN FEDERAL FUNDING FOR CORNELL, $790 MILLION FOR NORTHWESTERN: The Trump administration has frozen over $1 billion in federal funding to Cornell University and approximately $790 million to Northwestern University amid civil rights investigations into alleged antisemitic discrimination on their campuses. Both universities have stated they were not officially informed of the funding pause, learning about it through media reports.
- TRUMP ORDERS INVESTIGATIONS INTO TWO FORMER OFFICIALS WHO DEFIED HIM: President Trump has directed the Department of Justice to investigate Miles Taylor, former Chief of Staff at the Department of Homeland Security, and Chris Krebs, former Director of the Cybersecurity and Infrastructure Security Agency. Taylor is accused of leaking classified information and committing treason, while Krebs is alleged to have “weaponized” his position by countering claims of election fraud.
- U.S. BEGINS MONITORING IMMIGRANTS’ SOCIAL MEDIA ACCOUNTS FOR ANTISEMITISM: The Department of Homeland Security announced it will begin monitoring immigrants’ social media accounts for antisemitic activity. This policy affects green card applicants, foreign students, and immigrants affiliated with educational institutions linked to antisemitic activity. Advocacy groups have expressed concerns about potential infringements on free speech.
- US POSTAL SERVICE PROPOSES RAISING COST OF FIRST-CLASS STAMP TO 78 CENTS: The U.S. Postal Service has proposed increasing the price of a first-class “Forever” stamp from 73 cents to 78 cents, effective July 13, pending approval by the Postal Regulatory Commission. This 7.4% increase is part of ongoing efforts to achieve financial stability amid declining mail volumes.
- KIDS YOUTUBER MS. RACHEL THREATENED WITH FEDERAL INVESTIGATION FOR SAYING KIDS DESERVE FOOD AND WATER: Children’s entertainer Ms. Rachel is facing calls for a federal investigation after expressing concerns about children’s welfare in Gaza. The pro-Israel group StopAntisemitism has questioned whether she acted as a foreign agent to spread propaganda. Ms. Rachel has not publicly responded to these allegations.
- BILLY MCFARLAND’S FYRE FEST 2 PERMIT ONLY ALLOWS 12-HOUR LISTENING PARTY FOR 250 PEOPLE: Billy McFarland’s permit for Fyre Festival 2 reportedly allows for a 12-hour listening party with a maximum of 250 attendees and no live performances. This is a significant reduction from initial plans for a large-scale event.
- POWER RANGERS WRITER ADMITS CASTING BLACK AND ASIAN ACTORS IN COLOR-CODED ROLES WAS ‘SUCH A MISTAKE’: Tony Oliver, head writer of “Mighty Morphin Power Rangers,” acknowledged that casting a Black actor as the Black Ranger and an Asian actress as the Yellow Ranger was an unintentional mistake. He stated that the implications weren’t considered during the casting process.
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