☕ Election stunner

Why boomers are having all the fun... July 08, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [SmartAsset]( Good morning. Nobody could see this coming—John Cena shocked the crowd in Toronto and wrestling fans around the world when he announced on Saturday that he’ll retire from WWE in 2025. But the man who stripped down to present an Oscar this year should have no trouble staying busy. He holds the Guinness World Record for the most wishes granted through the Make-A-Wish Foundation, at more than 650 (no one else comes remotely close). And this week, he’s hosting Shark Week in the event’s 36th year. —Dave Lozo, Neal Freyman Breaking overnight: Boeing will plead guilty to a criminal fraud charge stemming from two fatal crashes of 737 Max planes and pay an additional $243.6 million fine, allowing it to avoid a criminal trial sought by victims’ families. [More here](. MARKETS: YEAR-TO-DATE Nasdaq $18,352.76 +24.29% S&P $5,567.19 +17.38% Dow $39,375.87 +4.40% 10-Year 4.272% +32.6 bps Bitcoin $57,053.35 +34.99% Tesla $251.52 +1.25% Data is provided by *Stock data as of market close. [Here's what these numbers mean.]( - Markets: Like everyone else, Wall Street is counting down the hours until Friday, which is when Q2 earnings season kicks off. Investors are hoping [anyone besides Big Tech]( will post impressive results to keep the rally going. Although the stock market has set record after record this year, it’s mostly been the work of tech giants. As of Tuesday, about 40% of S&P 500 companies were in the red for 2024.  INTERNATIONAL [Election stunner in France as left denies far-right]( [People celebrating the French election results]( Venance/AFP via Getty Images Going into France’s final round of elections yesterday, pollsters penciled in a historic victory for the country’s far-right party, National Rally. Turns out, they were wrong about the right. They should have been looking left. Early projections showed the New Popular Front, an alliance of socialists, greens, and a far-left party, stunned the country by [scoring the most seats]( in the National Assembly, the most powerful house of France’s parliament. In the first round of elections, National Rally had the strongest showing after speaking to voters’ concerns about inflation and immigration. But the gap between rounds proved crucial. In the past week, more than 200 candidates on the left and center dropped out of the race in an attempt to consolidate votes and create a bulwark against the National Rally, which they consider a threat to French democratic institutions and European stability. It worked. What happens now? Political wrangling and gridlock. No party, including President Emmanuel Macron’s centrist alliance, won an absolute majority in the National Assembly, so it’s time for what poli-sci majors call “coalition building” to form power-sharing agreements. That means pro-business Macron might have to accept parts of the left’s ambitious [economic agenda](. They want to: - Raise the minimum wage. - Reinstate a wealth tax Macron axed and increase the top marginal tax rate to 90%. - Lower the retirement age to 60 (Macron pushed it up from 62 to 64). - Eliminate certain tax breaks and credits for businesses. Some analysts say these programs, as advertised, would cost way too much given France’s dire public finances, and other critics say it would scare off multinationals from investing in the world’s seventh-largest economy. Looking ahead…France is now like a house of quarreling roommates less than three weeks away from hosting their biggest party in years: the Olympics.—NF PRESENTED BY SMARTASSET [Vanguard vs. Fidelity vs. Schwab]( [SmartAsset]( Who are you partnered with? It’s no secret that these could be considered three of the most popular brokerage firms. But they stack up slightly differently when it comes to fees and services. Learn more about who should work with Vanguard, Fidelity, and Schwab. [See the comparison](. Try SmartAsset’s [free quiz]( to get matched with up to three vetted financial advisors serving your area. While your advisor matches may not necessarily be associated with the above institutions, consulting a fiduciary advisor can be a great first step to helping make sure you’re on track to meet your retirement goals. [Get your financial advisor matches today](. WORLD [Tour de headlines](#) [Boarding up a house in Texas ahead of Beryl]Boarding up a house in Port O'Connor, Texas, ahead of Beryl's landfall. Jon Shapley/Houston Chronicle via Getty Images Beryl bears down on Texas. The major storm, which already caused 11 deaths in the Caribbean, is expected to [regain hurricane status]( before slamming into the Texas coastline this morning. Officials in several coastal areas have asked tourists to cut their Fourth of July vacations short and placed beach towns under evacuation orders. How is Beryl this strong one week into its life? It’s been refueled by searing water temperatures in the Atlantic Ocean and Caribbean Sea. Beryl has gained 35 mph in wind speed in 24 hours or less three times, per the AP. President Biden faces a crucial week. Congress returns to DC for the first time since the presidential debate sent Democrats into panic mode over Biden’s candidacy, and you can expect [extensive deliberations]( private and public—about his future at the head of the ticket. So far, five out of 213 congressional Democrats have explicitly called on him to quit the race. Some Democratic donors are reportedly floating a “[blitz primary]( that would have Biden drop out and potential candidates campaign for votes in weekly forums moderated by celebs like Oprah and Taylor Swift. Israelis block roads to protest government. Marking nine months since Hamas’s attack on Oct. 7, thousands of Israelis [protested against]( Prime Minister Benjamin Netanyahu’s government, blocking key intersections across the country and calling for a deal to bring home the hostages. Cease-fire talks are [expected to resume]( today, but Netanyahu stressed that any deal he agrees to needs to allow Israel to resume fighting and achieve its war aims, a demand Hamas has previously rejected. In Gaza, [journalists]( were permitted to visit Rafah for the first time since Israeli troops invaded the city two months ago. [They described]( devastation and a “dust-covered ghost town.” ECONOMY [It’s a boomer economy, and we’re just living in it]( [Group of seniors line dancing outside, 50+ retirement community, Denver, North Carolina.]( Nicholson/UCG/Universal Images Group via Getty Images You probably haven’t heard of Georgetown, TX, but it’s been the fastest-growing US city for three straight years thanks mainly to two people: Gam-gam and Pop-pop. Within Georgetown is a [planned community]( tailored to residents 55 and older called Sun City, whose 17,000 occupants are driving the Georgetown economy, per the Wall Street Journal. “It’s like they’re at college except…they have $3 million in the bank,” Georgetown Mayor John Schroeder said. The median household income in Sun City is $84,000, in line with the rest of the US, but its residents are spending big from pension checks, stock portfolios, and retirement savings—and most have already paid off their homes. “We have more fun than our daughter,” one retired resident told the WSJ. They definitely have more cash. While most young adults can only stare at Zillow listings and dream, Americans 55 and older possess ~70% of household wealth, up from 50% in 1989, per the Federal Reserve. Boomers also account for 45% of US personal spending, up from 29% three decades ago, according to Moody’s Analytics. Older people are being targeted. But it’s not a phishing scam—according to a survey of nearly 60 developers, about half are going after the boomer dollar by working on age-restricted communities like Sun City.—DL TOGETHER WITH INDEED - CAREERS IN CARE [Indeed - Careers in Care]( Skills pay the bills. Sure, but do y’know which skills healthcare employers wanna see on your nursing resume? We can wait…okay, Nurse Blake’s comin’ to your rescue. The beloved entrepreneur and comedian teamed up with Indeed to give you [the scoop on eight advantages to working in healthcare](. [Take a look](. STAT [Prime number](#) [The first CHAPEA mission crew members have been living and working inside NASA’s first simulated Mars habitat for over a year]NASA On Saturday, four NASA volunteers [emerged]( from a 3D-printed Mars habitat at Johnson Space Center in Houston after 378 days of confinement. The crew members—who did not reveal how long it took before someone cut their toenails in front of someone else—simulated a Mars mission inside the 17,000-square-foot habitat, which focused on simulated spacewalks, harvesting vegetables, and limited communication with the outside world. Let’s reward this group’s selfless act in the name of science by not spoiling Anyone but You for them. CALENDAR [The week ahead](#) [Alec {NAME}]Mark Sagliocco/Getty Images for National Geographic Alec {NAME} will stand trial for involuntary manslaughter: Jury selection will begin Tuesday with the actor facing [18 months in prison]( for the death of cinematographer Halyna Hutchins on the Rust set nearly three years ago. {NAME} is accused of firing a handgun that killed Hutchins; he says he pulled back the hammer but not the trigger. Hannah Gutierrez-Reed, the former armorer for the movie, was sentenced to 18 months in prison for involuntary manslaughter in April. NATO marks 75th anniversary in Washington: In 1949, NATO was founded in Washington, DC, as a mutual defense alliance to counter the Soviet Union. Seventy-five years later, leaders of the 32 member states are back in town for their [annual summit]( beginning Tuesday, with a focus on “[Trump-proofing]( the alliance should the former president regain office and try to reduce American support. Powell heads to Capitol Hill: Federal Reserve Chair Jerome Powell will give updates on the economy to Congress on Tuesday and Wednesday, where he’ll likely be asked about the prospect of interest rate cuts. Those plans could become clearer on Thursday, when the consumer price index inflation report drops. Everything else… - The 21st season of The Bachelorette premieres on Monday. - The semifinals for the Euros and Copa América take place on Tuesday and Wednesday. England may owe its success in penalty kicks to a [water bottle](. - Wimbledon wraps up this weekend with the ladies’ singles final on Saturday and the men’s final on Sunday. NEWS [What else is brewing](#) - [Heat waves]( are baking the US West Coast with record-breaking temperatures and unleashing gross humidity in the Northeast. In Death Valley, CA, which could hit 130 degrees Fahrenheit early this week, it’s too hot to fly rescue helicopters. - [Meta’s Twitter clone, Threads]( has 175 million monthly users one year after its launch, CEO Mark Zuckerberg said. - [Oscar-winning producer Jon Landau]( who worked on blockbusters such as Avatar and Titanic, died at 63. - [Sherpas]( began cleaning up garbage on Mount Everest after the climbing season ended in a project that’s expected to take years. They already found 11 tons of trash, a skeleton, and four dead bodies, per the AP. - [Nascar]( debuted its first electric racecar in Chicago, which hosted a street race this weekend for the second year. RECS [Monday to-do list image] Cool gadget: A review of a [nugget ice maker]( for your kitchen. Pick a color: Describe a color and [see the results](. Stay hydrated: Water isn’t the only option—[here are the foods]( that provide hydration. Read: A deep dive into [America’s berry boom](. Free Excel workshop: Learn everything you need to know about pivot tables and data analysis in Miss Excel’s[free 60-minute live workshop](. ’Fit check: Upgrade your summer wardrobe with the best-fitting T-shirts from [Cuts](. Stock up on your fave tees, polos, and more with [code Morningbrew for 20% off your entire order]( Safety net: A system like CrashPlan is built to uphold data protection and [endpoint data resiliency]( in your biz without the need for user or policy implementation. [See how it works]( *A message from our sponsor. GAMES [The puzzle section](#) Turntable: Your work emails can wait another five minutes. [Play Turntable](. Periodic table trivia Nine elements in the periodic table end with “-on.” How many can you name? SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER Argon, Boron, Carbon, Iron, Krypton, Neon, Radon, Silicon, Xenon Word of the Day Today’s Word of the Day is: bulwark, meaning “a solid wall-like structure raised for defense.” Thanks to Joe Camhi of Evanston for the impenetrable suggestion. Submit another [Word of the Day here](. Written by [Neal Freyman]( and Dave Lozo Was this email forwarded to you? Sign up [here](. 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