Chemicals & Gold Rush

Heyo, reader! We hope you’re having a good Thursday morning!

2️⃣ This Morning’s Two Reports:

• 💧 Biden Admin Sets First-Ever Limits on 'Forever Chemicals' in Drinking Water

• 💰 Costco’s Mega Sales in Precious Metals

📊 Market Snapshot

• DOW: 🔼 2.14% (38,461.51)

• S&P 500: 🔽 0.95% (5,160.64)

• NASDAQ: 🔽 0.84% (16,170.36)

• BTC: 🔼 2.34% (70,593.20)

• ETH: 🔽 1.10% (3,543.25)

📎 Market Clips

• Experts indicate the Fed is committed to avoiding premature interest rate cuts

• Meeting minutes suggest the Fed seeks greater assurance inflation is nearing its 2% goal

_{*Stock numbers as of market close, cryptocurrency as of 7:45pm EST yesterday. Source for Market Clips.}

First Report

💧 Biden Admin Sets First-Ever Limits on 'Forever Chemicals' in Drinking Water

In a historic stride towards public health, the Biden administration has announced the first national limits on toxic "forever chemicals" in U.S. drinking water. This regulation, marking the most significant advancement in drinking water safety in 30 years, aims to eliminate detectable levels of PFOA and PFOS—chemicals previously utilized in numerous consumer products. The initiative, expected to impact one-third of Americans, comes with a hefty $1.5 billion annual cost for testing and water treatment upgrades. Advocates hail this as a monumental victory for communities long plagued by contaminated water supplies, promising a future of enhanced fairness and health safety. ☣️🚰

TL;DR ⏳: Biden's new rule to ban toxic "forever chemicals" from drinking water represents a historic win for public health, though it brings a significant cost.

Second Report

💰 Costco’s Mega Sales in Precious Metals

In an unexpected retail twist, Costco has become a hotspot for gold and silver shopping, selling an impressive $100 million to $200 million of these precious metals monthly. The bulk retailer, known for its value deals, ventured into the gold market last September with 1-ounce 24-karat gold bars, quickly expanding its offerings to include silver coins due to high demand. The surge in sales is attributed to Costco's competitive pricing, trust from customers, and the global rise in gold prices as investors seek a haven against inflation and market volatility. With gold prices soaring, Costco's venture into precious metals has hit a lucrative vein, though the company keeps profit margins slim, focusing on providing value to its members. 💍📈

TL;DR ⏳: Amid rising inflation, Costco's venture into selling gold and silver has become a hit, drawing in millions in monthly sales due to competitive prices and consumer trust.

⚡ Quick Hits

1. 🏛 Trump influence leads to FISA renewal defeat in House

2. 🗣 Trump criticizes Arizona's 1864 abortion ban as excessive

3. 🚫 Trump's third consecutive day of denied delay for hush money trial by appellate judge

4. ⚖ Six former officers sentenced for torturing two black men as part of 'Goon Squad'

5. 🚔 Ex-Chicago police officer justifies shooting due to assault on officer during traffic stop

6. 🎉 Chicago area Muslims mark Ramadan's end with eyes on presidential election

7. 💥 Israeli airstrike kills three sons of Hamas leader Haniyeh

8. 🇯🇵 Biden's state visit with Japanese prime minister signals strong message to China

9. 🍱 Consumer Reports advises USDA against Lunchables due to lead, sodium concerns

10. 🚗 Toyota unveils new hybrid 4Runner SUV

Games

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