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Let It Rock
Sean H. & Jocelin A.
July 01, 2024 • Estimated Reading Time: 9 minutes
TLDR
MARKET RECAP → Stocks rose on Monday, with the Nasdaq (QQQ) closing at a record high, as Wall Street aimed to sustain the strong momentum from the first half of 2024.
BOEING PLEADS NOT GUILTY→ 🛬 Boeing dodged a guilty plea for 737 Max crashes, facing fraud charges despite a $2.5 billion settlement, as victim families demand real accountability.
MT. GOX TO UNLOAD BITCOIN: KEY IMPLICATIONS →💰 Mt. Gox's $9 billion Bitcoin dump was expected to rock the market, triggering wild price swings and mixed investor reactions.
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TODAY’S TOP NEWS
Boeing Pleads Not Guilty
🛬 Boeing Faced Fraud Charges: The U.S. Justice Department pushed Boeing to plead guilty to fraud charges linked to the crashes of two 737 Max jets, which claimed 346 lives. The families of victims were vocal in court, demanding true justice and not a "sweetheart deal" that bypassed them.
🕵️♂️ Boeing's Not-Guilty Plea: Boeing entered a not-guilty plea, despite previously agreeing to a $2.5 billion settlement. The company was accused of misleading federal regulators about safety issues, pinning blame on two technical pilots, one of whom was acquitted.
💸 Settlement and Victim Compensation: Under the settlement, Boeing committed to significant safety and policy changes and compensation for victims' families and affected airlines. However, the arraignment highlighted ongoing dissatisfaction among victims' families seeking more substantial accountability.
TODAY’S TOP NEWS
Mt. Gox to Unload Bitcoin: Key Implications
💰 Massive Bitcoin Release: Mt. Gox was set to release $9 billion worth of Bitcoin into the market, raising concerns about potential impacts on Bitcoin's price and market stability.
📉 Price Volatility Expected: Analysts predicted significant price fluctuations due to the sudden influx of Bitcoin, potentially driving prices down as supply rapidly increased.
🚀 Market Sentiment: This event triggered varied reactions among investors, with some seeing it as a buying opportunity while others prepared for potential downturns, showcasing the speculative nature of the cryptocurrency market.
MESSAGE FROM OUR PARTNER
BULL VS. BEAR
KEEP READING
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Stocks making the biggest moves premarket: Chewy, Birkenstock, GameStop and more (CNBC)
These could be the next big food and beverage trends (CNBC)
American Express is taking control of restaurant reservations (CNN)
WHAT WE’RE WATCHING
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Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
ChatGPT — Large language model-based chatbot powered by generative AI
Notion AI — Notion AI is a writing assistant that can help you write, brainstorm, edit, summarize, and more
Vimcal — Lightning-fast calendar and AI scheduling assistant
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