Anti-Clickbait News Summaries for November 1, 2024
Elon Musk's social media engagement on X surges ahead of US presidential election
Hi, it’s Jack again with your daily news summaries 😇
The Markets:
Futures Markets
Crude Oil: 71.08 (+1.82 / +2.63%)
Natural Gas: 2.7050 (-0.0020 / -0.07%)
Gold: 2768.70 (+19.40 / +0.71%)
Dow: 42261.00 (+314.00 / +0.75%)
S&P 500: 5775.50 (+37.00 / +0.64%)
Nasdaq 100: 20151.00 (+129.25 / +0.65%)
Russell 2000: 2229.30 (+20.70 / +0.94%)
Summary: Futures are largely positive today, led by crude oil’s strong gains, while natural gas slipped slightly. Equity indices across the board are in the green, showing broad confidence.
Forex & Bonds
EUR/USD: 1.0869 (-0.0015 / -0.13%)
USD/JPY: 152.46 (+0.43 / +0.28%)
GBP/USD: 1.2977 (+0.0078 / +0.61%)
BTC/USD: 70894.00 (+1615.00 / +2.33%)
5-Year Treasury: 4.123 (-0.032 / -0.77%)
10-Year Treasury: 4.269 (-0.015 / -0.35%)
30-Year Treasury: 4.468 (-0.005 / -0.11%)
Summary: The USD/JPY and GBP/USD pairs are showing strength, with BTC also up significantly. Treasuries are down across all maturities, with the 5-year leading the drop.
Major Stock Changes
AMZN: +6.68%
AAPL: -1.24%
GOOGL: +0.10%
GOOG: +0.05%
XOM: +1.77%
MSFT: +1.04%
NVDA: +2.00%
INTC: +3.68%
CVX: +4.49%
BA: +1.87%
META: -0.65%
LNG: -0.02%
ARCB: -2.59%
TEAM: +17.21%
CHTR: +13.71%
PLTR: +0.82%
Summary: Strong performance from TEAM and CHTR stand out with double-digit gains, while AMZN also posts robust growth. AAPL and META saw losses, but energy stocks like CVX and XOM surged.
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Botswana's ruling party concedes defeat after 58 years in power
Botswana's President Mokgweetsi Masisi has conceded defeat in the general election, marking the end of the Botswana Democratic Party's 58-year rule. The opposition Umbrella for Democratic Change is leading, with Duma Boko likely to become the new president.
Masisi announced his concession before final results were confirmed, stating the BDP had no path to a majority. The UDC has won 25 of the 61 parliamentary seats counted so far, while the BDP secured only three.
The election reflects a significant shift in Botswana's political landscape, as the country faces economic challenges, including rising unemployment and a downturn in diamond demand. This is the first time another party will govern since Botswana's independence in 1966.
Source: https://apnews.com/article/botswana-election-masisi-concedes-80951b62fdb7169f073c2b13acaff1b6
Understanding the U.S. electoral college and its role in presidential elections
The U.S. electoral college consists of 538 electors, with a majority of 270 needed to win the presidency. Electors are awarded based on state populations, with most states using a winner-take-all system. Maine and Nebraska use proportional representation.
Candidates can win the electoral college without winning the popular vote, as seen in the elections of George W. Bush and Donald Trump. If there is a tie at 269 electors, the House of Representatives decides the winner, with each state casting one vote.
Electors meet on December 17 to cast their votes, which are certified by Congress on January 6. The electoral college was established as a compromise in the Constitution, and some groups advocate for its abolition in favor of a direct popular vote.
Source: https://www.latimes.com/politics/story/2024-11-01/2024-election-how-does-the-electoral-college-work
Trump highlights opposition to transgender rights in final campaign push
Donald Trump has made opposition to transgender rights a key focus in his campaign as Election Day approaches. He has used derogatory language and misleading claims to portray transgender individuals as a threat, spending millions on ads attacking Kamala Harris for her support of transgender rights.
At his rallies, Trump features a spoof video mocking transgender people and makes false claims about their participation in sports. His rhetoric has intensified in the campaign's final days, aiming to energize his base and attract moderate voters.
Polling shows a divided public on transgender issues, with many opposing bans on medical treatments for transgender individuals. Trump has pledged to push for legislation defining gender strictly and banning medical interventions for transgender minors if elected.
Elon Musk's social media engagement on X surges ahead of US presidential election
Elon Musk's social media engagement on X has surged since July, with views increasing by 138%, retweets by 238%, and likes by 186%. This rise contrasts with more modest gains for other political accounts, raising questions about potential algorithm changes.
Musk's support for Donald Trump includes over $100 million in donations to a pro-Trump political action committee. Research indicates that since Musk's endorsement of Trump, right-wing accounts have gained more visibility compared to progressive ones on the platform.
Access to X's data has become limited since Musk's acquisition, complicating research efforts. Previous investigations suggest that Republican tweets are more likely to go viral, indicating a shift in the platform's dynamics under Musk's ownership.
Trump vows to protect women whether they want it or not at Wisconsin rally
Donald Trump stated at a Wisconsin rally that he would protect women "whether they like it or not," a comment that may alienate female voters. He emphasized his commitment to women's safety from various threats, despite advice from his team to avoid the statement.
Vice President Kamala Harris criticized Trump's remarks as offensive, arguing they undermine women's autonomy and decision-making. She highlighted the comments as part of a pattern reflecting Trump's views on women.
Polls show a significant gender gap, with women more likely to support Harris. Harris has focused on abortion rights in her campaign, linking Trump to the 2022 overturning of Roe v. Wade and subsequent state restrictions.
Source: https://www.ft.com/content/076cef9d-e435-4fe1-88d0-f5ebe8ac77d5
Google announces earlier launch for Android 16 in 2025
Google has announced that Android 16 will be released in Q2 of 2025, marking a shift from its usual Q3 or Q4 launch schedule. This change means Android 16 will arrive earlier than previous versions, which typically launched in late summer or fall.
The earlier release aims to allow more devices to receive the update sooner. Google plans to align the Android release with device launches, potentially enabling new devices to run Android 16 at launch.
Additionally, Google intends to increase the frequency of minor updates alongside major releases. Two SDK releases are planned for 2025, with the first major release in Q2 and a minor update in Q4.
Source: https://www.androidauthority.com/android-16-release-date-info-3495210/
Microsoft offers $30 option for extended security updates on Windows 10
Microsoft will charge consumers $30 for a year of Extended Security Updates (ESU) for Windows 10, which will lose support on October 14, 2025. This is the first time consumers can purchase this option.
Businesses will pay $61 for a year of ESU, with additional options for longer support. Consumers will only have access to one year of updates, which will include critical security fixes but no new features or technical support.
Microsoft is encouraging users to upgrade to Windows 11, which has stricter hardware requirements. Many older PCs cannot upgrade, but Windows 11 adoption is slowly increasing, especially among gamers.
Biden's approach to US-Africa relations faces criticism for lack of follow-through
In his first year, President Biden aimed to improve US-Africa relations, emphasizing equal partnership. High-level visits and a US-Africa Leaders Summit in December 2022 showcased this commitment, with Biden pledging $55 billion in investments and supporting the African Union's G20 membership.
However, critics argue that the Biden administration has not fully delivered on its promises. Key issues include a lack of consultation with African leaders on important agendas and attempts to pressure African nations regarding Russia's actions in Ukraine, undermining their agency.
Biden's upcoming visit to Angola in December will be his first trip to Africa as president. Critics note that this late visit and limited engagement with African leaders suggest that Africa remains a low priority for the administration.
Trump plans major tariff increases if elected, businesses prepare for price hikes
Former President Donald Trump plans to significantly increase tariffs on foreign imports if he wins the presidential election next week. Proposed tariffs range from 10% to 20% on all imports and up to 60% on Chinese goods.
U.S. companies are preparing to raise prices for consumers in response to these potential tariffs. Executives from various industries, including footwear and automotive, express concern that higher tariffs will lead to increased costs that they will pass on to customers.
During his previous term, Trump imposed substantial tariffs, which led to higher prices and job losses. His new proposals could further raise taxes and negatively impact the economy, according to estimates.
Source: https://qz.com/trump-tariffs-business-raise-prices-us-2024-election-1851686133
Russia fines Google US$20 decillion for blocking pro-Russian channels
Russia has fined Google over 2 undecillion rubles, equivalent to about US$20 decillion, for not paying fines related to blocking pro-Russian channels on YouTube. This amount far exceeds the global economy's size.
A Russian court previously ordered Google to restore the blocked channels or face increasing penalties, which double weekly. The Kremlin stated that the fine symbolizes the issue of content restrictions on its broadcasters.
Despite the legal challenges, Google continues to operate in Russia, although it has limited its activities since the invasion of Ukraine. The company has acknowledged ongoing legal matters but does not expect them to significantly impact its earnings.
NASA reveals updated candidate landing sites for Artemis 3 mission on the moon
NASA has updated its list of nine candidate landing sites for the Artemis 3 mission, focusing on the lunar south pole. This new list includes some previously considered locations and new ones, all chosen for their potential water ice deposits.
The selection process considered various factors, including surface conditions and visibility for communications. NASA aims to ensure safe landings and returns for astronauts while maximizing scientific opportunities during the mission.
Future Artemis missions may explore beyond the south pole, but early landings are expected to remain in that region due to scientific interests and mission architecture. NASA plans to keep options open for future site selections based on scientific needs.
Source: https://spacenews.com/nasa-updates-list-of-artemis-3-landing-sites/
UN report warns of worsening food crises in multiple countries due to conflict and climate change
A new UN report highlights severe food crises affecting vulnerable populations in the Palestinian territories, Sudan, South Sudan, Haiti, and Mali. Conflicts, economic instability, and climate shocks are worsening food insecurity, with urgent intervention needed to prevent further deterioration.
The report identifies 16 "hunger hotspots" across 14 countries, projecting worsening conditions in the next six months. New additions to the list include Kenya, Lesotho, Namibia, and Niger, largely due to climate extremes.
The ongoing conflicts and climate variability are disrupting food systems and displacing populations. The report emphasizes the need for immediate humanitarian efforts and international action to address the root causes of food insecurity.