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| | Good morning, it is Friday, June 21, and we're covering major decisions you can expect the Supreme Court to make shortly, Social media laws started in New York, major stock market shifts & much more!! First time reading? Sign up here. | | American Fact of the Day! | Crater Lake in Oregon is the deepest lake in the United States and one of the deepest in the world, reaching a depth of about 1,943 feet (592 meters). What makes it particularly unique is that it was formed over 7,700 years ago by the collapse of a volcanic peak, creating a stunningly clear and intensely blue lake. Crater Lake has no streams flowing into or out of it, relying solely on precipitation to replenish its water, making it one of the purest bodies of water on Earth. |
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| | Breaking Updates | | Here Are the Blockbuster Supreme Court Decisions Headed Your Way | The Supreme Court is poised to issue a series of significant rulings covering contentious issues ranging from gun rights and abortion access to social media content moderation and homelessness. As the end of its term approaches, the Court faces a high volume of pending decisions, potentially extending into July, an uncommon occurrence since the pandemic's peak. These rulings coincide with the lead-up to the first presidential debate between former President Donald Trump and President Joe Biden, with Biden already making the Court a focal point of his campaign, criticizing its current ideological balance. | One of the most anticipated decisions involves whether criminal charges against Trump for allegedly attempting to overturn the 2020 election can proceed, a case that could impact the upcoming election. Another pivotal case concerns the obstruction charges against Capitol attackers and Trump, questioning the interpretation of laws regarding public meeting disruption. Additionally, the Court will rule on Idaho's strict abortion ban, testing federal versus state law conflicts post-Roe v. Wade, and whether laws banning domestic abusers from owning guns violate the Second Amendment. | Furthermore, the Court will decide on issues such as the constitutionality of social media content moderation laws, the legality of penalizing homeless individuals for sleeping outside, and the scope of federal regulatory authority, potentially altering how agencies regulate environmental protection, worker safety, and consumer rights. Additionally, a multi-billion-dollar settlement over the opioid crisis involving Purdue Pharma hangs in the balance, affecting funding for drug treatment programs and legal liabilities for the Sackler family. | Read more updates here |
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| New York Governor Signs Bill Regulating Social Media Algorithms, in a US First | Governor Kathy Hochul of New York has enacted two landmark bills aimed at regulating social media platforms in ways unprecedented in the United States. The legislation, signed into law, positions New York as the first state to impose regulations on social media algorithms, addressing concerns about their addictive nature, especially among young users. The SAFE For Kids Act mandates that platforms default to displaying content chronologically for users under 18 and limits late-night notifications that can disrupt sleep. Concurrently, the Child Data Protection Act strengthens privacy protections for minors by restricting the collection and sharing of their personal data without parental consent, extending beyond existing federal safeguards. | Hochul emphasized that these measures are intended to safeguard children from harmful effects and addictive features engineered by social media platforms. The bills, which gained legislative approval in early June, have been hailed by New York officials as crucial safeguards against the influential power of social media over teens' well-being. | While Meta expressed some reservations about the bills, it acknowledged New York's pioneering role in addressing the responsibilities of app stores and the broader impacts of social media regulation. The legislation's enactment sets the stage for potential legal challenges, as similar laws in other states have faced scrutiny for potentially infringing on constitutional rights and complicating the operational landscape of social media platforms across different jurisdictions. | Read more updates here | | | American Sports & Culture |  | NFL players entering a make-or-break 2024 season: Multiple first-rounders, former All-Pro WR headline list | The NFL futures for these players hinge on the seasons they have in 2024 |
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|  | Lakers hiring Redick as new coach, sources say | The Lakers have agreed to a four-year contract with JJ Redick to make him the franchise's next coach, sources told ESPN. |
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|  | Free Sports Picks, News & Experts Best Bets For Today's Games | Pickswise is the home of free sports picks, news, & experts' best bets. Get free expert picks to help with your sports betting with today's free picks. |
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| American Business & Markets |  | S&P 500 closes slightly lower after briefly breaching 5,500, Nvidia takes a breather: Live updates | Stocks are poised to end the shortened trading week higher. |
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|  | Crypto Super PAC Fairshake raised $160 million by end of May: | CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, we explore the growing influence of crypto super PACs in Washington, D.C. |
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|  | Nike Shares 'Too Expensive' as Analyst Sees Stock Dropping 20% | Williams Trading analyst Sam Poser slashed Nike's price target to $75, citing skepticism about the company's ability to rebound from current challenges. He criticized Nike's valuation as excessive given its recent performance, highlighting management changes and layoffs that have affected the company's strategy and led to increased discounting. Poser contrasted Nike's struggles with Adidas' revival, noting Adidas' strong upcoming product lineup and strategic initiatives. |
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| | American Politics |  | Dutch PM Mark Rutte set to be next NATO secretary-general after rival withdraws from race | Romanian President Klaus Iohannis has rescinded his bid for NATO leadership and thrown his support behind Dutch Prime Minister Mark Rutte. |
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|  | Democrats target 150-year-old 'zombie law,' warning the GOP could use it to ban abortion | Senators are seeking to repeal the Comstock Act of 1873 as reproductive rights supporters fear a future president could use it as a back door to curtail abortion nationwide. |
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|  | Biden administration bans Americans from using Russian-made cybersecurity software over national security concerns | CNN Politics | The Biden administration is taking the unprecedented step of banning US companies and citizens from using software made by a major Russian cybersecurity firm because of national security concerns, Commerce Department Secretary Gina announced Thursday. |
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