The jobs report triggered a significant surge in bond prices, hinting at a potential Federal Reserve rate cut in September. The nonfarm payrolls for July fell short of expectations, with downward revisions to May and June’s figures. The 2-year note yield plummeted, while the 10-year and 30-year Treasury note yields also declined. Further contributing to the market’s reaction, Federal Reserve Governor Adriana Kugler announced her resignation, and President Trump updated tariff rates.
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Gary Busey has pleaded guilty to fourth-degree sexual contact, following accusations of groping a woman at a horror convention. The actor entered the guilty plea during a virtual court appearance, with sentencing scheduled for next month, which could result in probation and fines. These charges stem from a 2022 incident at Monster-Mania Con in New Jersey, where multiple women accused Busey of inappropriate behavior during photo ops. Prosecutors agreed to drop several other charges as part of the plea agreement, and Busey was scolded during the virtual hearing for having a drink on camera.
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Authorities are searching for Michael Paul Brown, the suspect in a fatal shooting at a Montana bar that left four people dead Friday morning. Brown’s white Ford F-150 has been located, but he remains at large, prompting an intensive search in the mountains near Stumptown Road. Law enforcement agencies, including local, state, and federal entities, are involved in the ongoing search, utilizing both ground and air support. The public has been advised to avoid the area and not approach the suspect.
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In a recent trial, a federal jury found Tesla partially liable for a 2019 crash involving its Autopilot system, awarding the plaintiffs $43 million in compensatory damages and $200 million in punitive damages. The jury determined that Tesla was one-third responsible for the fatal crash, which occurred when the driver and the Autopilot software failed to brake at an intersection. This verdict is a setback for the company, as they are attempting to convince the public and regulators that their self-driving technology is safe. Tesla plans to appeal the decision, maintaining that the driver was solely at fault.
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The Corporation for Public Broadcasting (CPB) announced it would begin winding down operations due to the elimination of its federal funding. This non-profit organization, which provides funding to public radio and television stations, PBS, and NPR, was targeted by the Trump administration and Congress, resulting in the termination of its funding. The CPB will conclude the majority of staff positions by the end of the fiscal year in September 2025 and a small transition team will remain through January 2026. The decision has raised concerns from NPR and PBS, which receive significant funding through the CPB, and could lead to layoffs, station closures, and reduced emergency alert capabilities, particularly in rural areas.
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Following the largest Pride event in Hungary’s history, the liberal mayor of Budapest, Gergely Karácsony, was questioned by police for his alleged involvement in organizing the event, which the government had sought to ban. Despite the government’s anti-LGBTQ law, the Pride march proceeded with approximately 300,000 participants. Karácsony stated that he declined to answer police questions, asserting that the government’s efforts to suppress Pride had weakened their power. He emphasized that the upcoming national elections would be an opportunity to restore Hungary to its European path, where freedom is guaranteed for all citizens.
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July’s nonfarm payroll growth significantly underperformed expectations, with only 73,000 jobs added, a stark contrast to the anticipated 100,000. The unemployment rate also rose to 4.2%, while June and May’s job growth figures were sharply revised downwards, indicating a weakening labor market. The report prompted a market reaction, with stock futures and Treasury yields falling, leading economists to suggest potential Federal Reserve interest rate cuts in September. Job gains were largely concentrated in healthcare and social assistance, while other sectors experienced declines or minimal growth.
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Justin Timberlake revealed on Instagram that he was diagnosed with Lyme disease during his Forget Tomorrow tour, which recently concluded in Turkey. The singer, known for being a private person, shared that the diagnosis initially made him consider ending the tour. Lyme disease, transmitted by ticks, can cause flu-like symptoms and other health issues. Despite canceling and postponing several shows, Timberlake ultimately completed the tour, expressing gratitude to his family and cherishing the experience.
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Tavasha Robinson went missing in May while traveling to her daughter’s high school graduation. Her sister reported that she was last seen in Dallas. Authorities have been searching for Robinson for over two months, as she never arrived at the graduation ceremony.
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