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California finalizes $3,500 EV rebate plan

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  • California plans to offer an instant rebate of $3,500 on the purchase of a new electric vehicle.
  • The state is creating the program after the federal government ended the $7,500 tax credit.
  • The rebates will be funded by state funds and subsidies provided by automakers.

With the average price of a new electric vehicle reaching nearly $55,000 and the federal government eliminating the $7,500 tax credit for plug-in vehicles, California will offer an instant rebate of $3,500 to new EV buyers in the state.

California officials said the new EV discounts will be funded in part by $135 million in state funds included in a recently announced budget agreement between California Gov. Gavin Newsom (D) and the state’s legislative leaders. Additional funding for the EV rebate program will come from grants funded by automakers, California officials said.

California’s plan comes nearly two years after Newsom promised shortly after President Donald Trump’s 2024 victory that he would step in to provide consumers with an electric vehicle tax credit if Trump follows through on a campaign promise and eliminates the common $7,500 federal tax credit. President Trump made sure to follow through on these promises when he passed legislation through Congress that would end the federal tax credit on September 30, 2025.

EV advocates praised California for stepping in to prosecute at least some of the violations.

“The $135 million for first-time EV buyers, combined with every dollar given by automakers, is more than $270 million in welcome assistance to new EV buyers,” said Mike Murphy, CEO of the American EV Jobs Alliance, an advocacy group that works with automakers to push U.S. and state legislators to adopt EV-friendly policies. “This bill would provide $3,500 cash-on-the-food credits to tens of thousands of first-time EV buyers in the Golden State.”

Why is California offering an EV tax rebate?

California has the highest percentage of car buyers choosing electric vehicles.

According to the Automotive Innovation Alliance, which lobbies most major automakers in Washington, D.C., EVs and hybrids will account for nearly 24% of new light-duty vehicle registrations in California in 2025, the latest data released by the group. California was the only state with a market share above 20% in 2025.

Automakers have lamented the loss of federal incentives for electric vehicles, and some have cut back on plans to make future electric models in light of changes in federal support for the technology.

California Air Resources Board Chair Lauren Sanchez said in an exclusive interview with USA TODAY in January that the state is stepping up to offer at least some rebates to domestic EV buyers as “the rest of the global market moves toward zero-emission vehicles,” even as federal aid levels have receded under the Trump administration.

Sanchez said in an interview that embracing EVs is “California pride” because “one-third of EV sales happen in California.”

Under California’s previous EV tax credit program, which ran from 2013 to 2024, the state spent $1.49 billion on tax credits for 586,000 vehicles, according to the California Air Resources Board.

Are used EVs eligible for tax deduction?

Under California’s budget agreement, rebates will also be applied to used EVs, but the amount has not yet been made public.

Under the old federal tax credit, used EVs could receive up to $4,000 in tax credits. The used EV tax credit was first added in 2022 by former President Joe Biden’s administration. Previously, only new EVs were eligible for the tax credit.

So what happened after the federal EV tax credit ran out?

Some of the most popular electric vehicle models saw sales decline significantly in the fourth quarter of 2025 after setting records in the third quarter as car buyers rushed to take advantage of the $7,500 federal tax credit before it expires at the end of September 2025.

According to AutoAlliance, EV sales ended up accounting for 9.6% of the market, down 0.6% compared to 2024.

Can I purchase an EV from outside of California and receive a rebate?

Previous EV rebates in California were limited to residents of the state, and this discount is expected to be limited to residents of the state as well.

EV shoppers in other states often copy California’s auto emissions regulations, and some may decide to copy the state’s plans to offer rebates to shoppers. Seventeen states have adopted at least part of California’s clean car regulations in recent years, according to the California Air Resources Board.

The Powerball jackpot is $360 million. Winning numbers for June 29th

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The Powerball jackpot has increased to $360 million with a cash value of $163.8 million ahead of the drawing on Monday, June 29th.

Since its launch in 1992, the Powerball jackpot has been hit more than 400 times. Indiana, Missouri, Minnesota, Pennsylvania, and Wisconsin rank among the states with the most winning jackpot tickets.

However, no one was lucky enough to win the Powerball jackpot on Saturday. Two players from Arizona State and Tennessee had a fun night and took home $2 million.

Here’s what you need to know about Monday night’s Powerball drawing.

What are the Powerball winning numbers for June 29th?

The winning numbers for Monday, June 29th’s Powerball drawing are 10, 14, 41, 53, 59 and the Powerball is 3. The “power play” multiplier is 2x.

Do I have to be a US citizen or resident to play Powerball?

The short answer is no. You do not need to be a U.S. citizen or resident to play Powerball.

Anyone visiting any of the 45 states, the District of Columbia, Puerto Rico, or the U.S. Virgin Islands may purchase lottery tickets from authorized and licensed retailers, regardless of nationality, as long as they meet the legal age requirements (usually 18 years old) at the time of purchase.

Top 10 Powerball Jackpots

  • $2.04 billion in California on November 7, 2022
  • December 24, 2025, $1.817 billion in Arkansas.
  • $1.787 billion in Missouri and Texas on September 6, 2025
  • $1.765 billion in California on October 11, 2023
  • January 13, 2016, $1.586 billion in California, Florida, and Tennessee
  • April 6, 2024, $1.326 billion in Oregon.
  • $1.08 billion in California on July 19, 2023
  • January 1, 2024, $842.4 million in Michigan.
  • March 27, 2019, $768.4 million in Wisconsin
  • August 23, 2017, $758.7 million in Massachusetts

How to play Powerball

Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. This can be done at a variety of locations, including local convenience stores, gas stations, and grocery stores.

In some states, you can purchase Powerball tickets online, depending on your local jurisdiction.

Once you have your ticket, you have to choose six numbers. Five of them are white balls numbered from 1 to 69. The red Powerball range is 1-26. You can also add a “Power Play” for $1, which increases your winnings on all non-jackpot prizes.

“Power Play” multipliers can multiply your winnings by 2X, 3X, 4X, 5X, or 10X.

A “Quick Pick” option is also available if you want the computer to select the numbers for you. To win the jackpot, players must match all five white balls and the red Powerball in any order.

Powerball drawings are held on Monday, Wednesday, and Saturday nights. The winnings continue to increase even if no one wins the jackpot.

Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Contact us at fernando.cervantes@usatodayco.com and follow us at X @fern_cerv_.

Netherlands’ Kodi Gakpo scores goal after fetal death

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Every goal in the World Cup finals means something, but Kodi Gakpo’s goal for the Netherlands vs. Morocco had an even more special meaning.

Gakpo put the Netherlands ahead against Morocco in the 72nd minute in the World Cup Round of 32 match in Monterrey, but was quickly overcome with emotion.

The Dutch forward and his partner Noa van der Vij announced on Saturday that their unborn child had died during pregnancy.

Gakpo, still fresh in his memory of losing his unborn child, stuck his head into the grass after scoring the goal. He was already on the ground after finishing a pass from Crisencio Somerville and took a shot just before being tackled by a Moroccan player.

When he stood up, there were tears on his face.

In a spontaneous show of support, the entire Dutch team appeared on the field and crowded around Gakpo to show their support.

Gakpo and Van der Vij gave birth to their first child, Samuel, in 2025. She announced that she is expecting her second child a few weeks before the 2026 World Cup.

It looked like Gakpo’s goal would be the only goal of the match, but Issa Diop equalized for Morocco in the 91st minute. The African side then won the penalty shootout, eliminating the Netherlands.

President Trump will not veto housing bill, says after meeting with Johnson: Exclusive

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In a sit-down interview with USA TODAY, the House speaker said President Trump has no intention of committing to signing the housing bill. But Mike Johnson was confident that the president’s veto would not be triggered.

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WASHINGTON – The landmark housing bill approved by Congress last week will become law with or without President Donald Trump’s signature, House Speaker Mike Johnson said.

Johnson told USA TODAY in an exclusive interview on Capitol Hill that the president will either allow the bipartisan bill, which passed overwhelmingly in the House and Senate, to go into effect, or he will sign it into law.

During a two-hour Oval Office meeting on Monday, June 29, Johnson said he once again urged the president to sign legislation aimed at making housing more affordable.

“He said he would think about it and we’ll talk about it again this week,” Johnson said.

Either way, Johnson insisted the bill would pass. “He will not veto this bill. We already know that. He will either allow it to pass or he will sign it and take partial ownership. I hope he does the latter.”

Earlier in the day, President Trump called the bill a “big yawn” and characterized it as “less important” than the Republican bill, the SAVE America Act, which would require prospective voters to provide proof of citizenship to register and a photo ID to vote. The president abruptly canceled the signing ceremony for the housing bill last week, blocking its immediate passage into law.

President Trump has said he will not support the housing bill until the Senate passes the Republican-backed ballot measure, which has not received the support it needs.

The housing bill, officially called the 21st Century Road to Housing Act, could become law if President Trump does not sign or veto it within 10 days, excluding Sunday. Prime Minister Johnson said over the weekend that the bill would be formally introduced to the White House on June 29, officially starting the clock.

“As you know, the president has 10 days to make that decision. The point he was trying to make is that the American Rescue Act is his top priority and it’s my priority. But I said, ‘Mr. President, we can walk and chew gum at the same time,'” Johnson told USA TODAY on Monday night. “The housing bill has a lot of great policies and a lot of important things that he and I promised voters.”

Johnson: SAVE America Act is Republican’s ‘top priority’

Last week was a busy week for the Speaker.

After the president took a tough stance on Republican leadership by holding the housing bill hostage, conservative hardliners in the House followed suit. A group of Republican lawmakers took over the Congressional calendar and held off on voting until Johnson found a viable path forward for the SAVE America Act.

The Republican-run House has already passed multiple voting reform legislation. In the Senate, it faces opposition from moderate senators such as Lisa Murkowski of Alaska and Susan Collins of Maine.

Amid the revolt in the House of Commons, Prime Minister Johnson struggled to gain enough support to pass the bill and canceled unrelated votes. The intra-party fight is fueling new fears from moderate Republicans in Congress about how much the party can accomplish before the midterm elections, when Congress is scheduled to go into an extended recess at the end of next month.

Despite the logistical confusion, Johnson told USA TODAY he understands the political point the president and his party’s conservative wing are trying to make. But he said the housing bill would move the country closer to the president’s affordable housing goals.

“I said, ‘You should get as big a black marker as you can and write a giant Trump sign on it, because there’s a lot to be proud of,'” Johnson said.

Johnson also told reporters on Capitol Hill that he plans to satisfy President Trump by combining the SAVE America Act with an annual defense policy bill that must be passed. But that maneuver could doom the defense bill that authorizes major national security programs.

Johnson’s confusion remains unsatisfying among far-right Republicans in his own party, including Rep. Anna Paulina Luna, R-Fla., who is leading the House effort to pass the American Rescue Act.

“I’m not trying to be difficult, but this is what 80% of Americans want and this is what we promised the American people,” she told X on Monday.

Sephora partners with Walmart and others on new ‘quiet time’ initiative

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Sephora is the latest retailer to offer nervous customers a “quiet hour,” a low-key shopping experience in its stores that limits sensory stimulation.

The beauty retailer’s move follows similar initiatives from Walmart, Target and even Chuck E. Cheese.

Here’s what you need to know about Sephora’s Quiet Time initiative and others across the country.

Sephora launches ‘Quiet Hours’ nationwide

Sephora announced earlier this month that it would lower the music volume at all stores at designated times, adjust in-store screens and minimize strong scents to create a “calm atmosphere with fewer distractions,” according to a company news release. Sephora did not say during which hours the quiet hours would be held.

The national rollout follows an initial pilot program with 32 beauty stores in eight markets. It was developed in collaboration with disability advocacy group Open Inclusion and business consultancy Purposeful Futures.

Deborah Yeh, Sephora’s global chief marketing officer, said the quiet hours are a “meaningful step” in the company’s ongoing efforts to develop business strategies that meet customer needs.

“Sephora’s Quiet Hours is a meaningful step in our ongoing efforts to create a more welcoming environment for our employees, consumers, and communities, and we recognize that we still have much to learn and do,” said Yeh. “We are proud of this progress and are equally committed to continuing to listen, learn and grow with the communities we serve.”

Neural divergence is an umbrella term that encompasses diverse configurations of neural processing, as it manifests itself differently in different people. Although it is not an official medical term, some people use it to describe conditions such as learning disabilities and autism spectrum disorders, according to the Cleveland Clinic.

According to True Progress Therapy, these can include extreme sensitivity to things like fluorescent or flashing lights, background music, announcements, crowded chatter, the smell of strong-smelling foods, perfumes, and detergents, unexpected contact in narrow aisles, and flashing displays and signs.

“By listening directly to neurodiverse and sensory-sensitive beauty customers in five countries, we identified a clear opportunity to reimagine what a more inclusive beauty retail space looks, sounds and feels like,” said Kristin Hemphill of Open Inclusion, one of the organizations Sephora consulted with. “This has allowed us to create a more welcoming, accessible and comfortable environment for many people.”

Hemphill added that quiet hours are “the future of retail.”

Walmart takes control

In 2023, Walmart became the first major retailer to introduce sensory shopping in all of its stores across the United States. What started out as a few hours on Saturdays has since grown into a two-hour event from 8 a.m. to 10 a.m. every day.

During that time, Walmart will turn off the overhead music, dim the lights as much as possible, and switch all TVs to still images.

The company said the changes were made based on input from customers as well as employees with disabilities such as attention-deficit hyperactivity disorder and autism..

“We’ve seen what these changes mean for our customers and associates through in-person conversations, emails, listening sessions, social media and personal experiences in our stores,” Walmart said in a news release at the time.

Other retailers offering quiet time

No other retailer in the United States has made sensory shopping a permanent part of its business schedule.

However, two companies have experimented with it in the past and are offering the experience in some locations, including Target and Toys “R” Us.

  • target: Similar to Walmart, Target stores will dim the lights, turn off the music, and limit the number of announcements during these hours. In addition, Target also offers sensory-friendly carts with safety harnesses and support for children with sensory sensitivities, according to Level Ahead ABA, a Georgia-based medical clinic.
  • Toys R Us: The “Quiet Hour” initiative in Toys R Us stores provides a more relaxing shopping experience for people with autism. Similar to Target and Walmart, stores are dimming lights and turning off music to provide a quieter environment, according to Level Ahead ABA.

Chuck E. Cheese’s “Sensory Sunday”

In the restaurant space, Chuck E. Cheese offers a monthly program dubbed “Sensory Sundays.”

Basically, Chuck E. Cheese opens two hours before regular business hours on the first Sunday of every month, dims the lights, reduces sound, eliminates flashing effects, and creates a quieter game room and dining environment.

Additionally, staff working these shifts are trained to be patient, flexible and provide non-judgmental support, according to the company’s website.

The Chuck E. Cheese initiative, which is not available in all locations, has been in place since 2016 with support from the Center for Autism and Related Disorders.

Drew Pittock covers trending news from around the country for USA TODAY. He can be reached at DPittock@usatodayco.com.

Portillo’s releases Char’diniera Dog to celebrate America’s 250th anniversary. What’s inside?

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Chicago hot dog chain Portillo’s is celebrating America’s 250th anniversary with a new flavor-packed frank.

The Chardiniera Dog, available for a limited time starting Tuesday, is the product of a new partnership between Portillo and Vienna Beef.

What’s in Portillo’s new Chardiniera Dog?

The new chargrilled beef hot dogs are infused with giardiniera and provolone cheeses, giving them a “medium-cooked, rich cheesiness and smoky charred finish,” Portillo said.

It can be served in a variety of ways, including Maxwell style, topped with yellow mustard and grilled onions.

It can also be served classic Chicago style, topped with mustard, relish, onions, tomatoes, celery salt, sport peppers, and pickles.

Portillo fans can also order the Chardiniera dog plain or with their favorite toppings.

How much does a Chardiniella dog cost?

Prices for new dogs vary by location.

Prices at Chicago stores range between $5.49 and $5.59, according to information posted online.

Portillo’s celebrates National Hot Dog Week with $1 dogs.

From July 14th to 16th, Portillo’s will be offering $1 hot dogs to benefit members in honor of National Hot Dog Week.

This deal is available on purchases of $5 or more.

Order Portillo with DoorDash

Portillo’s location in Chicago

Portillo’s has the following Chicago locations:

  • Ontario and Clark: 100 W. Ontario Street
  • Canal & Taylor: 520 W. Taylor Street
  • Addison: 3343 W. Addison Street

Find a Portillo’s near you using the chain’s online restaurant locator.

The House passes the Online Safety for Children Act, but the Senate does not.

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This advancement represents a major step toward regulating technology companies. But some senators and advocates say that’s not enough.

WASHINGTON — The House of Representatives easily approved a bipartisan bill aimed at protecting children online. This is an important step in a years-long effort to rein in social media companies’ interactions with children.

On Monday, June 29, the Kids Internet and Digital Safety Act (KIDS) passed by a landslide. The vote was 267-117.

Rep. Brett Guthrie (R-Ky.), chairman of the House Energy and Commerce Committee, called the bill “the most comprehensive and impactful online safety package for children ever considered by Congress.”

“At its core, this bill sends a simple message: children deserve a safer online experience,” he said. “Technology companies must be held accountable if they fail to protect young users.”

Congressional efforts to finalize the package could be one of the defining debates on Capitol Hill ahead of the midterm elections.

Although there is bipartisan momentum, it will not be plain sailing from here. The bill faces an uphill battle in the Senate, where critical lawmakers say the measure is not as good as another bill that passed nearly unanimously in 2024.

Supporters of the House-passed bill said it would give parents powerful tools to monitor and control their children’s online experiences, establish safeguards against AI chatbots, and ban advertising aimed at minors. It also plans to limit unnecessary data collection on children and introduce age verification measures for sexually explicit content such as pornography.

However, it does not include the so-called “duty of care” provisions that were previously included in the Kids Online Safety Act (KOSA), which passed the Senate. Supporters said the “duty of care” measure was supposed to regulate online design features to protect children from harmful elements on technology platforms. But some freedom groups warn that this could lead to censorship of free speech.

Still, some Senate Democrats, including Maria Cantwell of Washington state, have argued that that aspect of the package is “essential.”

“In short, this policy guts many of the critical provisions of the Senate bill that are needed to protect children and their families,” she said in a statement last week. “And this bill stops short of showing us what kind of strong safety measures we need for our children, instead being bundled together with another bill that inserts a lot of research at a time when the government needs to be doing more than researching this issue.”

Many House Democrats, including Frank Pallone of New Jersey, Jennifer McClellan of Virginia, and Lori Trahan of Massachusetts, acknowledged that the bill is not perfect. In their June 29 floor speeches, all cited criticism of the latest bill but said Congress needs to act sooner rather than later.

“This bill doesn’t solve all the problems,” Trahan said. “But it makes quite a dent.”

Sen. Ted Cruz (R-Texas), chairman of the Senate Commerce Committee, has expressed support for the new KOSA bill, which is more stringent, and says he intends to move it forward. Rep. Kathy Castor (D-Fla.) said it’s up to the Senate to reconcile competing bills on different lines.

“The ball will now be in their court,” she said.

Zachary Schermele is USA TODAY’s Congressional Correspondent. You can email us at zschermele@usatoday.com. Follow him on X at @ZachSchermele and on Bluesky at @zachschermele.bsky.social.

Amanda Batula quits ‘Summer House’ after romance with West Wilson

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Amanda Batula will not be returning to Summer House after 10 seasons following shocking revelations about her relationship with housemate West Wilson.

Batula will not appear on the Bravo show’s upcoming season 11, Variety and Deadline reported on Monday, June 29. TMZ was first to report the news.

USA TODAY has reached out to representatives for the show and Batula for comment.

This revelation comes just days after Wilson confirmed rumors that he would not be returning for the next installment of “Summer House.” Wilson, who previously dated Batula’s best friend Ciara Miller, and Batula, who announced her split from husband Kyle Cook in January, announced their relationship in a social media statement on March 31st.

Prior to this, the two had denied any romantic interest in public or private conversations.

During their reunion on “Summer House,” Wilson and Batula offered a vague timeline of their relationship, but it did little to satisfy their castmates’ curiosity.

Lindsay Hubbard predicted in Part 1 of the reunion that Wilson and Batula’s relationship would eventually end. But Miller said: “They’ll probably end up dating, because I honestly think the best woman for West is the one who doesn’t check anything. That’s totally Amanda. She’s very quiet. She’ll be the vulnerability he needs, and he could always be the star of the relationship.”

These words moved Batula to tears and Cook to come to his ex-girlfriend’s defense. “That was a little harsh,” he whispered gently to Miller.

“Maybe this will be a big mistake. One day we will wake up and realize it,” Batula said during the third part of the reunion. “It’s really hard to sit on this stage and try to explain yourself when no one is listening.”

Batula first appeared on Summer House in season 1 and became a main cast member in season 2 as Cook’s girlfriend. She stars in the spin-off show “In the City,” which chronicles the challenges of her and Cook’s marriage.

Wilson appeared in Season 8, which aired in 2024. Wilson and Miller became close during filming, dated throughout the fall, and finalized in December 2023, but the two kissed in the season 10 finale and Miller claimed she stayed at his house after the cameras dropped.

Lindsay Hubbard told Amanda Batula, “There is no place for people like that in my life.”

Even if Batula were to return to Summer House, there were signs that the reality star might be snubbed by her castmates.

In a thread posted June 16, Hubbard wrote that in unaired moments from “Summer House: The Aftermath” after the reunion, she told Batula, “In order to be friends with me, my friends need to show integrity, character, and better decision-making skills. And until that happens…unfortunately, there is no place for people like that in my life.”

During a bonus roundtable, Batula and Hubbard weighed in on how Batula and Wilson’s romance unfolded, with Hubbard encouraging the Hampton housemate to improve his self-worth, in part by distancing himself from Wilson’s “sinking ship.”

Why are oil prices and gold prices both falling now?

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Oil prices have fallen to pre-Iran war levels, trading at around $70 a barrel, while gold prices have been slowly declining for months. But are these trends correlated?

At first glance, falling oil and gold prices may signal a cooling economy and easing inflation concerns. That’s because both of these products react to economic uncertainty.

But there are more forces at play now, and oil and gold prices are actually not that strongly correlated.

Here’s what you need to know about the relationship between oil and gold prices and what it means for precious metals investors.

Are oil and gold prices actually related?

Although the prices of oil and precious metals such as gold are somewhat related, they do not necessarily move in tandem. Two forces cause this.

First, inflation is the main factor linking the two.

“Oil and precious metals often benefit from the same inflation story. Rising energy prices can drive inflation, which tends to support demand for gold and silver as stores of value,” says Christopher Hodge, former chief economist at the New York Fed and chief economist at Natixis CIB Americas.

Geopolitical conflicts may strengthen this relationship. Conflict can disrupt supply chains and cause oil prices to soar, as was seen at the start of the Iran war. This has caused inflation to rise and more investors to buy gold and other metals as a hedge against rising prices and uncertainty. This increased demand could cause the price of gold to rise.

But that’s not all. Other forces weaken the correlation between gold and oil. While oil prices are primarily determined by perceived supply and demand, gold prices also respond to other macroeconomic factors.

“While oil prices have retreated, precious metals prices remain supported by central bank purchases, large fiscal deficits, geopolitical uncertainty and persistent concerns that we may not be able to fully beat inflation,” Hodge said.

Why did crude oil fall back below $80 a barrel?

Oil prices have fallen to pre-Iran war levels in recent weeks as tensions between the U.S. and Iran ease and the geopolitical risks that drove oil prices decline.

Purba Mukherji, an economics professor at the University of Connecticut and an expert on international finance and trade, said other factors pushing prices below wartime highs include increased supplies from Russia and Venezuela, as well as weak demand from China amid slowing economic growth.

Why is gold trending down?

While oil prices have been falling for weeks, gold prices have been slowly trending lower for months since hitting a record high of more than $5,000 in January.

One macro factor driving this is the prospect of rising interest rates. Rising interest rates make income-producing assets such as bonds and stocks more attractive than gold and other precious metals, which do not pay dividends. “The Fed’s path to higher interest rates has turned non-yielding assets into some debt,” said Darrell E. Fletcher, managing director of products at capital markets trading firm Bannockburn Global.

A stronger dollar also contributes to lower gold prices. Gold is sold in dollars around the world, so a strong dollar makes gold more expensive for overseas buyers and reduces demand. However, fiscal deficits and strong central bank purchases continue to support gold prices in the long term.

What’s next: What the oil drop means for gold

Oil and gold prices have both fallen recently, but for very different reasons. Still, there are messages that can be read from both. “This decline suggests that markets are becoming less concerned about inflation tail risks and major commodity shocks,” Hodge said.

That’s because gold and oil prices both tend to rise during periods of high uncertainty and high inflation expectations, and fall when those pressures ease.

But in reality, the relationship is not so simple. Lower oil prices could theoretically curb inflation and put downward pressure on gold prices, but in reality other factors outweigh this.

“While we believe the decline in oil primarily reflects expectations for near-term inflation relief from the war-related supply shock, the correction in gold reflects the tightening stance of monetary policy and the recent rise in real yields,” said Jordan Rizzuto, managing partner and CIO at Gammalord Capital Partners.

As a result, while oil and gold have both fallen, their correlation remains weak.

Conclusion: What the decline in oil and gold prices means for investors

Oil and precious metals are both affected by inflation concerns and geopolitical tensions, so it’s easy to assume their prices will move in tandem.

But ultimately, “they’re driven by different fundamentals,” Hodge said. “Oil is primarily a story of growth and supply and demand. Gold is more of a story of real interest rates and uncertainty. They sometimes move together, but they often tell different stories about the economy.”

For investors, this means that the downward trend in oil prices does not necessarily determine what happens next for gold and silver. Lower energy prices can help ease inflation and put downward pressure on precious metals prices, but other factors such as interest rates and a strong dollar play a bigger role.

Investors should instead consider oil as part of a larger equation. If lower oil prices contribute to a lower overall inflation outlook, it could determine how the Federal Reserve sets interest rates. After all, this has a bigger impact on gold than it does directly on oil prices.

The Great American State Fair is ‘full of happy people’

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President Donald Trump said the Great American State Fair was “full of happy people,” but when USA TODAY visited the event on the National Mall on Monday, June 29, it found crowds were light, lines were short and there was plenty of space.

Since opening on June 25, the fair has seen sparse attendance for the first few days, but it remains unclear how the July 4th holiday will play out. U.S. Secretary of the Interior Doug Burgum told Fox News on June 27 that the Trump administration is planning “the largest fireworks display in history.”

However, activity on the ground appeared to be limited. Lines to enter the fair, browse the state booths, and purchase food were minimal. The longest wait time was for the 110-foot Ferris wheel, but even that seemed typical for a standard attraction.

There are not many people at the fair and there are long lines.

Small groups gathered for events near the rodeo Monday afternoon, including a wood saw contest and acrobatic performance, but crowd size remained modest.

Videos on social media suggest that turnout was uneven. In one video shared by TMZ, actor Dean Cain can be heard saying, “There’s a lot of people in here. It’s a big space. It’s going to get more and more crowded as the week goes on,” even as the camera shows a mostly empty space.

USA TODAY requested attendance numbers from Freedom 250, a group associated with Task Force 250, a public-private partnership established by the White House to work with federal agencies to coordinate celebrations of the United States’ 250th anniversary.

Exit of performers, hurdles to access

Concerns about attendance have been raised after notable performers including Martina McBride, Bret Michaels, Young MC, The Commodores and Morris Day and the Time pulled out of the lineup due to political ties to the event.

Admission to the fair may also be a barrier, as part of the National Mall grounds are fenced off ahead of the July 4 fireworks display, and attendees must register, but walk-ups are allowed, according to the Freedom 250 website.

Safety measures include a clear bag policy with size restrictions, and common items such as outside food and drink, umbrellas, coolers, metal containers, and selfie sticks are prohibited.

Michelle Del Rey is a trending news reporter for USA TODAY. Please contact mdelrey@usatoday.com.

This Supreme Court ruling should be important for consumers.

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Consumer advocacy groups said U.S. consumers should be concerned about the Supreme Court’s significant June 29 decision because it affects consumer protections, including safety.

The Supreme Court upheld President Donald Trump’s March 2025 firing of Democratic Federal Trade Commission commissioners.

As USA TODAY previously reported, the high court’s ruling could dramatically change how more than a dozen agencies operate by taking away the power from Congress to remove the leaders of independent agencies and giving it to the president.

This includes the U.S. Consumer Product Safety Commission (CPSC), where President Trump tried to fire three of the five Democratic members of the commission in May 2025.

Why does the Supreme Court’s decision matter to consumers?

Emily Peterson Cashin, director of competition and market integrity at the Consumer Federation of America (CFA), said in a statement to USA TODAY that the decision risks “turning independent consumer protection agencies into political pawns.”

“If professionals charged with crimes such as policing fraud, protecting competition, and countering powerful corporations are removed at will, consumers will lose an important safeguard against abuse,” Peterson-Cassin said.

However, some praised the ruling.

“Today’s Supreme Court decision… massacre This represents a huge victory for our constitutional republic. By explicitly reversing Humphrey’s Executioner Returning to the faithful interpretation of the separation of powers, the court’s decision is massacre Ensure that federal agencies remain accountable to the executive branch and, by extension, to the American people who elected the president. ”

What was the Supreme Court’s decision regarding the FTC?

In a decision overturning 90 years of precedent, the Supreme Court said Congress’ limits on the president’s power to fire members of the Federal Trade Commission violate the president’s authority. The 6-3 decision was broken along ideological lines.

The FTC enforces a variety of antitrust and consumer protection laws that affect virtually every area of ​​commerce.

President Trump asked the court to overturn Executive Humphrey v. United States, a 1935 decision that upheld restrictions on removing leaders of multi-member executive agencies. The court has been reviewing this decision piecemeal since 2010.

Trump has said that after he takes office again in 2025, all federal agencies will be under his control. In March 2025, the president fired two of the five-member Federal Trade Commission board, Democrats Rebecca Slaughter and Alvaro Bedoya.

Mr. Bedoya initially joined Mr. Slaughter’s legal challenge, but ultimately withdrew. He issued a statement June 29 saying the Supreme Court is a “billionaire fan club” that allows corporations to hurt people and deny them their day in court.

“The only people who win in this case are the president’s billionaire golfing buddies. And in the Supreme Court, that’s a given,” Bedoya said.

CPSC commissioner’s fate likely tied to FTC ruling

Consumer advocates said the May 2025 removal of three U.S. CPSC commissioners is likely to be upheld following the Supreme Court ruling.

Courtney Griffin, CFA’s director of consumer product safety, said in a statement provided to USA TODAY that CFA understands that the CPSC’s “terminations were to be determined by this litigation.”

Griffin said the ruling would have dangerous consequences. “Today’s decision doesn’t just weaken one government agency; it completely restructures government, including the Consumer Product Safety Commission, the watchdog that protects dangerous products that hurt and kill people,” she said.

Alexandra Reeve Givens, president and CEO of the left-wing CDT, echoed these concerns. President Trump’s “administration has made no effort to hide its desire to use government authority to strengthen and intimidate political opponents. The Supreme Court has removed one of the key barriers to that.”

However, White House press secretary Caroline Levitt previously told reporters that President Trump could lay off staffers who are part of the executive branch.

“He has the right to fire people in the executive branch. That’s a very simple answer,” Levitt said on May 9.

Maureen Groppe contributed to this report.

Betty Lin-Fisher is a consumer reporter for USA TODAY. Contact her at blinfisher@USATODAY.com or follow her at @blinfisher on X, Facebook and Instagram and @blinfisher.bsky.social on Bluesky.. Sign up for our free The Daily Money newsletter, breaking down complex consumer and financial news. Subscribe here. Contact Rachel Barber rbarber@usatoday.comFollow her on X @rachelbarber_and subscribe to her newsletter Making More of Your Money here.

Did President Trump win or lose at the Supreme Court? Here’s the scorecard

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The Supreme Court on June 29 dealt a major blow to President Donald Trump’s agenda in terms of economic regulation and targeting mail-in voting, but also issued a historic ruling that expands the president’s control over federal agencies.

In a divided ruling, the justices blocked President Trump from immediately firing Gov. Lisa Cook, the head of the Federal Reserve, and upheld a Mississippi law that allows mail-in ballots postmarked by Election Day to be received and counted at a later date.

The court also rejected Mr. Trump’s appeal of a $5 million judgment awarded to New York author E. Gene Carroll after a jury concluded that he sexually abused and defamed her, an allegation he denies.

But the court also upheld President Trump’s firing of Democratic appointee Rebecca Slaughter to the Federal Trade Commission, in a 6-3 decision overturning 90 years of precedent that limited presidential firing powers.

President Trump said on social media after the decision that the justices had inflicted a “huge loss” on his voting agenda, but that their decision to overturn decades of precedent “significantly” increased presidential power “at a time when it is most needed.”

Here’s a breakdown of what the latest decision means for President Trump and his policies.

Limits on a 90-year-old president’s ability to remove him from office will be lifted.

President Trump called the court’s decision to fire Rebecca Slaughter of the Federal Trade Commission a “huge victory” for presidential power.

The court overturned 90 years of precedent in a case called Humphrey’s Executors v. United States, which limited how presidents can remove independent board members.

Congress established various boards with representatives from both parties. But Trump insisted he should have control over all executive branch positions and be free to fire and replace members.

Roberts, writing for the majority in a decision that could affect more than a dozen government agencies, said the president “must have the support of trusted officials.”

“It is a great honor to be the sitting president who won this historic and unprecedented ruling, one of the most important presidential powers ever granted,” Trump wrote on social media.

Court upholds Federal Reserve independence

President Trump, by contrast, downplayed the Supreme Court’s decision blocking Cook’s immediate removal from office, posting on social media that the court had sent the case back to the lower courts “based on rigorous procedures.”

But Chief Justice John Roberts wrote to the court’s majority that the Trump administration “has not shown that it is likely to prevail” in lower courts defending the circumstances surrounding Cook’s firing. Roberts also emphasized that Congress has established protections for the Fed president and that the United States has a tradition of protecting the central bank from political influence.

The Federal Reserve is a powerful economic regulator and is responsible for monetary policy, which can affect inflation and unemployment rates. Its board is made up of governors appointed by the president and confirmed by the U.S. Senate for varying terms of 14 years.

President Trump’s support for firing Cook, who was nominated by President Joe Biden and confirmed in 2022, would have made the Fed even more vulnerable regardless of who is currently in the Oval Office.

Trump claimed he could immediately fire Cook over allegations that he made false statements that affected mortgage rates on two properties he purchased. Cook said he looked forward to “debunking” Trump’s claims and argued that his firing was illegal because the Fed’s board has historically been independent and its directors have legal protections.

States can receive and count mail-in ballots after Election Day

In a significant loss for Trump, the court upheld a Mississippi law that allows mail-in ballots that are postmarked by Election Day and arrive up to five days later to be counted.

Justice Amy Coney Barrett and Chief Justice John Roberts joined the court’s three liberal justices in supporting the law. Barrett wrote that voters have to make a decision by a certain date, but that doesn’t mean they have to receive their ballots that day.

President Trump has long opposed mail-in voting, arguing that it is susceptible to corruption, but in March he voted by mail himself. He cited the court’s decision as he continued to press Congress to require voters to present identification and proof of citizenship at polling places and to register, and to ban mail-in voting except for voters who are sick, traveling or serving in the military.

“There is no excuse for anyone, politician or not, to violate the three requirements listed above,” Trump said on social media. “The only reason I object is cheating!”

According to a 2025 report from the Brookings Institution, incidents of fraud related to mail-in voting are extremely rare, at about 4 cases per 10 million mail-in votes. Research also shows that non-citizen voting is virtually non-existent.

Court dismisses Trump sexual abuse claims, $83 million lawsuit still pending

In a personal blow to Trump, the Supreme Court has decided not to hear his appeal of his 2023 loss in a sexual abuse and defamation case. This leaves intact a $5 million 2023 award from a New York federal jury to former advice columnist E. Jean Carroll, which concluded that Trump sexually abused her during an incident at a department store in the 1990s and then defamed her when he denied it in 2022.

“This victory belongs to all women around the world!!” Carol posted on social media within hours of the decision.

The decision does not affect Trump’s separate appeal, which calls for a separate New York federal jury to award Carroll $83.3 million in damages in 2024, based on a finding that Trump defamed her when he denied her claims in 2019. This appeal is still pending.

President Trump posted on social media that Carroll’s lawsuit, filed in his personal capacity, “is against the very United States of America.”

“I intend to continue to fight with all my might against this weapon and legal action against me, including the ridiculous claims of defamation,” he said.

What’s at stake for President Trump in his future decisions?

President Trump is interested in all three remaining cases the court is scheduled to rule on June 30, but he is more interested in the limits in his proposal for birthright citizenship.

On the first day of his second term, President Trump signed an executive order limiting citizenship to children born to citizens or lawful permanent residents. For more than 125 years, the high court has interpreted the Fourteenth Amendment, which grants citizenship to “all persons born or naturalized in the United States,” to apply to all infants born in the United States.

When the justices heard the birthright case on April 1, Trump became the first sitting president to attend Supreme Court arguments.

Another pending decision deals with whether West Virginia and Idaho can ban transgender athletes from participating in women’s sports teams. Trump has been a vocal opponent of transgender athletes.

The court will also decide whether to waive one of the last checks on money in politics. President Trump’s fellow Republicans, including Vice President J.D. Vance, are challenging the 50-year-old limit on how much political parties can spend on campaigns aligned with their candidates.

July 4th brings heat, tight security, and late nights in Washington, D.C.

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Asked in an interview with USA TODAY if the delayed fireworks would be family-friendly, Mayor Muriel Bowser said she expected people with small children to “watch it on TV” instead.

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WASHINGTON – Are you planning to take your kids to President Donald Trump’s huge 4th of July Freedom 250 celebration on the National Mall? Given its size and scope, Washington Mayor Muriel Bowser predicts that many families with young children may decide to stay home and watch from their couches or neighborhood locations.

At a security and planning briefing held June 29, Bowser and other local and federal officials outlined what visitors should expect. The event is billed as a family-friendly celebration of the nation’s 50th birthday, but features tight security and a much later start time for fireworks than typical Fourth of July celebrations.

These include airport-style security checks to enter the restricted viewing area, where 150,000 people are expected to enter, only one clear bag or “small clutch” allowed per person, closures of major thoroughfares and bridges, scorching, potentially record-breaking temperatures, and fireworks that don’t start until 11pm.

Typically, July 4th fireworks viewers have already gone home. But what President Trump is touting as a record-breaking 45-minute fireworks show will likely end in the wee hours for those heading home from the celebration.

When asked by USA TODAY what he would say to parents wondering if that’s a big thing to ask of families with young children, Bowser first introduced reporters to Freedom 250, the Trump-affiliated group responsible for July 4 events and other major 250th birthday celebrations.

Then she answered anyway.

“And the thing to remember, especially in this heat, is that the days are long, long. So people should be very careful about the heat, be careful about what they drink, and go home as soon as the fireworks are over,” Bowser told reporters. “I predict that families with young children will decide whether they should watch it on TV or at a neighborhood event. Again, I’m talking about 250 people.

“Or if they’re really brave…” she said, trailing off before moving on.

Freedom 250 organizers and the White House did not immediately respond to questions from USA TODAY.

July 4, 2026 marks the 250th anniversary of the signing of the Declaration of Independence from Great Britain by the Continental Congress in Philadelphia.

“The most unforgettable birthday party I’ve ever seen in any country”

Freedom 250 is a public-private partnership established by President Trump’s White House to work with federal agencies to coordinate celebrations of the United States’ 250th anniversary.

The celebration has faced criticism that Mr. Trump and his allies have changed what was supposed to be a bipartisan, nonpolitical 250th anniversary celebration.th – into a politically branded event led by a group established by Congress and closely aligned with the president.

In recent weeks, President Trump and his allies have touted a series of events, including the Great American State Fair and a fireworks display aimed at earning a Guinness World Record, as a once-in-a-lifetime opportunity for Americans.

President Trump began the 16-day celebration of the nation’s 250th anniversary with a rally-style address on the night of June 24, after many musicians scheduled to perform declined to participate over concerns about partisan overtones.

“Tonight, here on the National Mall, we begin the most unforgettable birthday party any nation has ever seen,” President Trump said in his 28-minute kickoff speech.

Later in his speech, President Trump said, “On the Fourth of July, we’re going to put on the best show ever on the National Mall.” “Your favorite president will speak.”

The fair opened the next morning and initially faced problems such as sparse crowds, power outages, melting ice cream, and a lack of representation from states that refused to send delegations, in part due to the partisan nature of the event.

No ‘credible threat’ to July 4th event – ​​but unprecedented security

In a June 29 security briefing, Washington, D.C., and federal officials reviewed planning and security arrangements for the event, which has been designated a “National Special Security Event,” meaning the Department of Homeland Security has identified it as a “potential target for terrorist or other criminal activity.”

Such designations are typically triggered during major events, such as presidential inaugurations or summits of world leaders, and trigger large-scale security responses by the federal government. Other Freedom 250 events supported by President Trump, including the June 24 rally, are a top priority for federal law enforcement but did not receive additional designations.

FBI and Secret Service officials noted that there would be heavy security at the event, especially given plans to raid an event in early June featuring a UFC martial arts match on the White House lawn that would be attended by Trump and other government leaders and senior officials.

Prosecutors say a suspected UFC plotter planned to use a drone and multiple gunmen to kill executives at the event venue. On Monday, FBI official Darren Cox told reporters that the threat had been neutralized and that the bureau was “not pursuing any credible threats” against the 250 people.th Anniversary event.

But Cox and other officials warned anyone thinking of attending the fireworks show not to bring a drone, or face arrest and a $100,000 fine.

Tara McCleese, special agent in charge of the Secret Service’s Washington field office, said in a security briefing that hundreds of agents and police officers will be on hand to work with local law enforcement to neutralize any potential threats.

“Our goal is very simple: all residents and visitors enjoy celebrating America’s 250th anniversary, knowing that thousands of professionals have spent months preparing to keep them safe,” said Cox, assistant FBI director in charge of the FBI’s Washington Field Office.

Clint Osborn, director of the District of Columbia’s Homeland Security and Emergency Management Agency, said the July 4th event would be unprecedented in its scale and scope of security preparedness.

“Be prepared for increased security, congestion and road closures,” Osborne said, adding that authorities are tracking a multi-day heat wave expected from July 1 to 4 that could reach triple digits and “could break records this week.”

“And as the mayor likes to say, ‘Save your patience,'” Osborne said.

Medicare will begin covering GLP-1 drugs on July 1st

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Millions of seniors will soon be eligible for popular GLP-1 weight loss drugs like Wegovy and Zepbound under the Medicare pilot program.

On July 1, the Centers for Medicare and Medicaid Services will launch the Medicare GLP-1 Bridge Program for enrollees who qualify for prescription weight loss drugs based on height, weight, and other criteria. Seniors receiving weight loss drugs pay a $50 monthly co-pay, with Medicare covering the rest of the cost.

The bridge program is a major change since Medicare, the federal health program that primarily covers adults 65 and older, prohibits coverage of weight loss drugs containing GLP-1. The bridge program will run until the end of 2027.

The program could help seniors afford popular medications that many people want, even though the list price can exceed $1,000 and insurance coverage is uncertain. Although drug companies have lowered prices for cash-paying customers, more than half of adults taking GLP-1 say the drug is difficult to obtain, according to KFF, a nonprofit health policy group.

KFF said 9% of adults 65 and older use GLP-1, but usage among younger people is slightly higher.

Medicare’s bridge program comes as companies that provide health insurance to most working-age adults are cutting coverage. About 6% of large employers plan to discontinue coverage of GLP-1 weight loss drugs in 2026, and another 5% plan to discontinue coverage in 2027, according to a study released June 11 by consultant Mercer. Nearly half of large employers will have weight loss drug coverage by 2025.

Raymond Brown, head of North American clinical pharmacy at Mercer, said “costs continue to rise” for employees paying insurance benefits.

If employers don’t want to remove coverage for popular and expensive medications, they may add additional requirements for workers, such as regularly contacting a weight loss coach to obtain GLP-1 regularly.

Employers are asking, “Can we keep these costs under control?” Mr. Brown said.

Who is eligible for Medicare GLP-1 coverage?

Medicare beneficiaries must have prescription drug insurance, known as Part D, to be eligible for medication. People must obtain prescriptions from a doctor or other licensed prescriber, and prior authorization is required.

Not everyone can participate in the program. Eligibility for anti-obesity drugs should be based on body mass index, a measure of height and weight. Typically, people with a BMI of 35 or higher are eligible. Some people with a BMI of 27 or higher may qualify if they have other medical conditions, such as prediabetes or peripheral artery disease.

Medicare beneficiaries who are already receiving GLP-1 drugs for type 2 diabetes, sleep apnea, or heart disease risk will not receive the drugs under the bridge program. They will continue to obtain their medications through their regular Part D prescription drug coverage.

Although a Part D plan is required for Medicare beneficiaries to qualify for GLP-1 under the Bridge Program, the private insurance companies that administer Part D plans are not involved in the Bridge Program. Medicare processes authorizations, processes claims and pays pharmacies, according to the Medicare Rights Center.

Medicare has not released an estimate of how many Americans will be eligible to receive anti-obesity drugs under the Bridge Program.

Based on 2020 data, KFF estimated that approximately 13.7 million Medicare beneficiaries are obese or overweight.

Which drugs are covered by Medicare?

Novo Nordisk’s Wegoby is sold as a shot and pill and is eligible for the Bridge Program. KwikPen’s version of Eli Lilly’s injectable drug Zepbpound and the drug company’s weight loss drug Foundayo qualify for the bridge program.

Novo and Lilly are trying to outdo each other with lower prices for cash-paying customers whose insurance plans don’t cover the drug.

Novo previously lowered the price of its injectable drug Wegovy and most doses of its diabetes drug Ozempic from $499 per month to $349 per month for consumers who purchase the drug directly from drug companies, telemedicine partners or retail pharmacies.

Lilly also previously announced price reductions for consumers who purchase Zepbound directly.

Tighter regulation of AI attracts bipartisan support, new poll finds

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As artificial intelligence becomes a more visible part of Americans’ daily lives, a new poll finds bipartisan support for tighter regulation of the technology.

The survey, conducted by the Washington-based AI Policy Institute (AIPI), found that 68% of respondents supported the government creating “a formal review process before making cutting-edge AI models widely available.”

Support for increased government regulation was recorded among Democrats, Republicans, and independents. Sixty-four percent of Republicans and 76% of Democrats said they supported a “formal vetting process,” while 63% of independents supported the idea.

The study comes just weeks after President Donald Trump signed an executive order on June 2 requiring AI developers to voluntarily submit their models to the federal government for review for potential security risks.

The AIPI poll was conducted from June 10th to June 11th, and 1,007 likely voters responded. The poll had a margin of error of ±4.2 percentage points.

‘Strong opposition’ to AI data centers

Separate from the AIPI poll, other polls show that Americans have strong disapproval of AI data centers. A Gallup poll released in May found that 70% of Americans oppose building local data centers, with more than half expressing “strong opposition.”

Common concerns include high energy and water consumption, electronic waste, and noise pollution.

This strong opposition has prompted local governments to pass moratoriums to keep data centers out of their communities.

That includes Monterey Park, California, which is believed to be the first city to implement a permanent ban through a ballot initiative. Voters in the state approved the ban on June 2, but a statewide ban has proven more difficult. Lawmakers in several states, including North Carolina, are proposing stricter rules for data centers.

Laws introduced to curb AI

In March, Sen. Bernie Sanders (D-Vermont) and Rep. Alexandria Ocasio-Cortez (D-New York) announced the Artificial Intelligence Data Center Moratorium Act.

The bill would halt construction of AI infrastructure and give the government time to require reviews of AI products, according to Sanders’ news release. It would also give citizens 50% ownership of America’s largest AI company through a sovereign wealth fund.

“As a society, we can no longer sit back and allow a handful of Big Tech oligarchy to determine the future of this revolutionary technology without democratic input,” Sanders said.

USA TODAY’s Joey Garrison contributed to this report.

Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Contact us at fernando.cervantes@usatodayco.com and follow us at X @fern_cerv_.

New York Stock Exchange signals the start of the trading day with the opening bell in the Oval Office

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President Donald Trump, a New York businessman, brings the heartbeat of global commerce to the White House based in the Big Apple.

The real estate developer-turned-politician will host the world’s two largest stock exchanges, the New York Stock Exchange and Nasdaq, and participate in the first joint bell-opening ceremony from the Oval Office to mark the opening of the Trump account.

National Economic Council Director Kevin Hassett told CNBC on June 29, “We’re going to have a big opening bell ceremony next week.” “The reason we’re doing this to celebrate accounts is to let everyone know that it’s time to get your child an account, even if they weren’t born this year.”

Although the two exchanges have the same trading hours (9:30 a.m. to 4 p.m. ET), they ring two different bells.

The New York Stock Exchange first introduced bells in the 1870s, initially using Chinese gongs to signal the start and end of the trading day. However, when the NYSE moved to a new location on Wall Street in 1903, the gongs were replaced with four electric brass bells for each of the exchange’s four trading areas, according to the NYSE. You will be attacked as soon as you press the button.

The Nasdaq bell is rung by pressing a ceremonial electronic button at the Nasdaq Market site in Times Square, often serving as a corporate branding event, with executives invited to press the button.

The White House did not immediately respond to questions about the exact date of the event or details about the bell that would be used.

Trump Accounts, a federal program aimed at helping children build long-term financial security, will officially launch on July 4. Thanks to a tax and spending package passed last summer, the government will donate $1,000 along with their Social Security number to every child born between 2025 and 2028, the four years of President Trump’s second presidential term.

Additionally, families are allowed to contribute $5,000 per year and employers are allowed to contribute $2,500 per employee per year until the child turns 18.

Trump made his first appearance on December 12, 2024, to ring the opening bell of the New York Stock Exchange. After being named Time Magazine’s Person of the Year, he stood alongside the incoming administration’s leadership.

On January 28, First Lady Melania Trump rang the bell at the New York Stock Exchange, marking the end of the first year of President Trump’s second term and ahead of the release of a documentary. The film “Melania” chronicled her life during the 20 days leading up to President Trump’s second inauguration.

Swapna Venugopal Ramaswamy is USA TODAY’s White House correspondent. You can follow her at X @SwapnaVenugopal.

Spent 8 hours on hold with the IRS

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good morning! I’m Daniel de Visé from Daily Money.

Last week, I wrote a rare first-person article about my experience using the IRS phone system in tracking down my late mother’s tax refund.

How was it? Well, suffice it to say, if things had gone well, I wouldn’t have written the column.

Is the lottery curse real? We tracked down lottery winners to find out.

For first person:

I’ve always wondered if the lottery curse is real. If you win millions of dollars, will you inevitably lose it all, die an untimely death, or succumb to some other unpleasant fate?

To find the answer, I tracked the fortunes of more than 30 real lottery winners for more than a decade. This is what I found.

Is remote work to blame for the loneliness epidemic?

We end with Jessica Guinn’s question, “Does remote work make us lonely?”

📰 Other stories you can’t miss 📰

USA TODAY will appear at the top of your search results.Add us as a preferred source on Google.

Daniel de Visse covers personal finance for USA TODAY. Daily Money analyzes complex consumer and financial news. Subscribe here.

A dangerous heat wave will burn millions of people this week. this is the place

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The National Weather Service announced on the morning of June 29 that a long and dangerous heat wave will intensify across much of the central and eastern United States this week.

NOAA’s Weather Prediction Center said several all-time high temperature records could be set later this week as part of this wave.

A total of about 90 million Americans live in areas under heat watches or heat warnings, according to the National Weather Service. Additionally, tens of millions more people are under slightly less stringent “heat advisories.”

In fact, at the peak of the heat wave later this week, “at least 230 million people, nearly two-thirds of the U.S. population, could be exposed to extreme heat that can cause health problems,” Weather.com reported.

“A heat dome will develop, strengthen, and increase in size over much of the central United States for an extended period of time through the Fourth of July weekend,” AccuWeather meteorologist Alex Sosnowski said in an online forecast. “It will spread into parts of the east over the next few days. Once fully extended, the hazardous situation will affect more than 20 states.”

If you can’t see the graphic, click here to view it.

How hot will it get?

According to the National Weather Service, high temperatures in the 90s to low 100s and high humidity will lead to heat indexes in the 100s to 110s, reaching 115 degrees in some areas.

Temperatures that dip into the 70s provide little to no overnight relief.

“The combination of prolonged daytime heating and limited nighttime relief will increase the risk of heat-related illness, especially for vulnerable populations and those without adequate cooling,” the Weather Prediction Center said in an online forecast.

“If you’re concerned about the heat, you’re going to be very uncomfortable without air conditioning,” AccuWeather meteorologist Alex Duffus said.

What is a heat dome?

Heat domes, also known as high-pressure ridges or death ridges, are large bulges of submerged warm air that can extend up to 1,000 miles in the summer, raising temperatures as much as 30 degrees above average, creating dangerously dry conditions and often leading to deadly multi-day heat waves, Weather.com said.

According to climatecheck.com, the term refers to an “oppressive” high-pressure atmospheric system in which warm air is forced to the surface and trapped there for long periods of time.

“The dome is like a pot lid, trapping high-pressure air in one place,” the website says.

How long will the heat wave last?

According to Weather.com, the latest forecasts suggest the heat dome that causes the heatwave will continue, keeping much of the country hot through Independence Day and beyond.

The Weather Prediction Center said high temperatures may finally begin to weaken from west to east this weekend, with upper temperature limits likely to be limited by clouds and thunderstorms.

Tips for staying cool

  • drink water, No matter how active you are, more than usual. Don’t wait until you’re thirsty. Give your pet plenty to drink.
  • Avoid foods containing sugar, alcohol, and caffeine liquid. Fluid loss may increase.
  • Stay in an air-conditioned building As much as possible.
  • Take a cold shower or bath.
  • limit outdoor activities; Especially during the day.
  • Use curtains or shades Near the window to avoid sunlight.
  • Limit the use of ovens and stoves To keep the temperature inside the house low.
  • Please wear light-colored, loose-fitting clothing To improve sweat evaporation.

What else can I do?

  • check on happiness Friends and neighbors – need help staying cool?
  • Never leave people or pets unattended Even when the car is closed or the windows are partially open. The interior can quickly reach dangerous temperatures.
  • Seek medical attention immediately For those with symptoms of heat stroke.

Doyle Rice is a national correspondent for USA TODAY, focusing on weather and climate.

Bitcoin inflation hedge is unproven, experts warn

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  • Experts say regular savers shouldn’t jump at tips they see on social media about buying Bitcoin as an inflation hedge.
  • The story of Bitcoin as an inflation hedge is based on the concept of a fixed supply of digital tokens. However, experts have issued a number of warnings on social media against such tips.

A spike in inflation in 2026 has reignited the conversation about Bitcoin and other cryptocurrencies being a good hedge against inflation.

The main digital token, Bitcoin, has a fixed supply. This does not apply to US dollars or other government-issued fiat currencies. Naturally, you can find some of these declarations on sites focused on cryptocurrencies.

Digital platform CoinDesk brought up the concept during a short-lived Bitcoin rescue rally in the spring, as inflation was heating up after the war with Iran began on February 28th. The theory was that Bitcoin’s rise in value further fueled the inflation-hedging narrative.

“Not so fast,” says Paolo Pasquariello, a finance professor at the University of Michigan.

“I read on blogs that some people are promoting cryptocurrencies as a hedge to protect against inflation,” Pasquariello said in a phone interview.

“That’s not true. Cryptocurrency is a bubble in itself.”

He sees no evidence that cryptocurrencies offer any protection from inflation, as the value of cryptocurrencies is expected to rise much faster than the U.S. inflation rate.

His recommendation is that regular savers shouldn’t jump on tips on social media to buy Bitcoin as an inflation hedge.

Why do we need an inflation hedge?

The reality is that no one wants to lower their standard of living. Everyone wants to be able to spend their money the same way they always have and be able to buy what they want. But how do you do that when prices are soaring and rising every day?

Naturally, when inflation rises, people start talking more about inflation hedging. It might get a little funky. During the height of inflation in the 1970s and early 1980s, buying art (yes, paintings) became a hot topic.

Admittedly, cryptocurrencies didn’t exist 40-50 years ago, so it’s been a bit difficult for them to have a historical track record as an inflation hedge.

Created in 2009, Bitcoin is a digital currency that is relatively anonymous and can be used to purchase goods and services without the need for a central authority such as a bank or government.

However, Pasqualiello argues that cryptocurrencies have no intrinsic value. While many people use Bitcoin and other cryptocurrencies as a means of payment, they have not yet succeeded in becoming widely popular.

“Do I receive my salary in cryptocurrency? No,” he said. “Would you go shopping at Whole Foods or Trader Joe’s with paid cryptocurrency? No.”

Pasqualiello sees cryptocurrencies as a speculative play for people with extra cash on hand. It’s something that could easily drop in value if the economy plummets and wealthy people start worrying about their pennies again. (I believe that’s true even if you can still find pennies in circulation, as they are regularly in short supply.)

“When the economy gets bad, people stop playing with toy money,” Pasquariello declared.

Of course, cryptocurrencies spark a lot of contentious conversations. We have cliques of likes and dislikes, and not much in between.

Cryptocurrency may still be headed to your 401(k)

The Trump administration has embraced cryptocurrencies in a variety of situations. Last September, I wrote about how many 401(k) investors a day would gain access to cryptocurrencies, private equity, and other alternative investments in workplace retirement savings plans thanks to an executive order signed by President Donald Trump on August 7, 2025.

In his executive order, President Trump blamed “overregulation and encouragement of litigation by opportunistic trial lawyers” for suppressing investment options such as cryptocurrencies in 401(k)s.

On August 14, a few days after the executive order was signed, Bitcoin hit a then-high trading high of $124,457. Much of this rally began in late 2024 on the theory that the second Trump administration would provide a crypto-friendly regulatory environment. Bitcoin reached an all-time high of approximately $126,000 in early October 2025.

Bitcoin will experience a major crash in 2026

Still, 2026 hasn’t been a great year for Bitcoin so far. The largest cryptocurrency was trading at around $62,800 on Thursday, June 18th.

Yes, we’re talking about a 50% drop in value within a year.

Indeed, from the beginning of 2021 during the height of inflation to November 2021, Bitcoin’s value more than doubled, with Bitcoin reaching a then-high of around $69,000. This ride can be seen as a possible reason for this inflation hedging theory.

Inflation subsided for a while, but started heating up in 2026 when the Iran war began. The consumer price index, which covers all urban consumers, rose 0.5% month-on-month in May, after rising 0.6% in April.

Over the past 12 months, the all-item index rose 4.2% before seasonal adjustment. This is the third consecutive year of year-on-year increase since the start of the Iran war in late February.

Chartered financial analyst Sam Hashcho agreed that there is no long-term empirical evidence to solidify cryptocurrencies as an inflation hedge.

“Many people are accepting these stories about Bitcoin without checking the facts,” Hashcho said.

“Anyone who brings this theory to me will just ask to see the evidence,” he said.

This story is based on the concept of a fixed supply of digital tokens. And like gold, he said, it withstood well through the most recent inflation shock a few years ago, the biggest spike in inflation in 40 years.

“But one example alone does not prove that it is the holy grail inflation hedge. A broken clock could also be right,” Hushcho said.

Robert Bilkie, CEO of Sigma Investment Counselors, said there is no evidence to suggest that cryptocurrencies are a good inflation hedge.

“We don’t have enough data to show the correlation with inflation or other asset classes,” Bilkey told the Detroit Free Press, part of the USA TODAY Network. He believes owning common stocks and real estate is now a better inflation hedge.

“Bitcoin Butcher” still believes in inflation hedging theory

But Detroit’s “Bitcoin Butcher” (a nickname used by small business owner and cryptocurrency advocate Ronnie Bedway on social media platforms) said that Bitcoin alone acts as a hedge against future financial inflation because its supply is fixed. We are talking about when more money is chasing the same amount of goods. Or money is being created faster than the ability to produce goods.

“Critics will point to recent price movements and say Bitcoin is failing, going from a high of just over $120,000 last year to just over $60,000 now,” Bedway told the Detroit Free Press.

But Bedway argued that the current inflation is due to a supply shock, namely the rise in oil prices following the Iran war that began in late February. Bedway said high oil prices and their impact on the prices of other goods are now putting pressure on the Fed to keep interest rates high to prevent inflation from getting out of hand.

“This restrictive monetary policy will drain liquidity from financial markets, resulting in riskier assets such as Bitcoin being hit hard in the short term,” Bedway said.

He still sees Bitcoin as a long-term inflation hedge should oil prices return and the US Federal Reserve ease monetary policy in the future.

Current inflation concerns are primarily driven by the oil price spillover expected early this year, Bedway said. The high cost of oil is spilling over everywhere, including the meat industry. Others argue that higher prices will trickle down to the economy in the coming months, even after oil prices have fallen slightly in recent weeks.

All other cryptocurrencies, except perhaps Ethereum, are irrelevant to the idea of ​​inflation hedging, Bedway said.

A low-risk inflation hedge bet

Of course, other experts argued that other less speculative options exist as an inflation hedge.

One less volatile option for some savings is inflation-indexed U.S. savings bonds, which can be purchased online at TreasuryDirect.gov. I-Bonds can be used partly as emergency savings and partly as a conservative holding for investors who want to protect a portion of their portfolio from dramatic stock market declines.

The “I” in I Bonds stands for inflation. The overall interest rate on an I bond may rise or fall every six months after you purchase the bond, based on changes in inflation. The six-month comprehensive interest rate for newly purchased I bonds issued between May 1 and October 31 is 4.26%.

The wild rise in Bitcoin since October 2025 proves that there is still a risk of large amounts of money disappearing quickly when investing in cryptocurrencies.

If the idea of ​​inflation hedging is to protect purchasing power in good times and bad, then I am still not a fan of the cryptocurrency inflation theory.

Contact personal finance columnist Susan Tompol: stompor@freepress.com. follow himr X @tompor.

PA withdrew from the American State Fair. Fetterman, McCormick get it back

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  • Although Pennsylvania initially withdrew, it will now be represented at the Great American State Fair.
  • U.S. Sens. John Fetterman and David McCormick have formed a coalition of private organizations representing the state.
  • Gov. Josh Shapiro previously withdrew from the event, citing a lack of business interest due to the politicization of the event.

Just two days after Pennsylvania withdrew from the Great American State Fair, Sens. John Fetterman (D-Pa.) and David McCormick (R-Pa.) announced that a coalition will represent the Keystone State at the Great American State Fair.

The fair, which will be held in Washington, D.C. from June 25 to July 10, is part of a larger effort to commemorate America’s 250th anniversary. The event is sponsored by Freedom 250, a nonprofit organization created as part of President Donald Trump’s efforts to commemorate the county’s 500th anniversary and is working closely with the White House’s America 250 Task Force.

In a press release from McCormick’s office, both senators emphasized the importance of Pennsylvania’s participation in the fair.

Why is Pennsylvania joining the Great American State Fair after withdrawing?

Just days ago, on June 25, Pennsylvania Governor Josh Shapiro told The New Republic that Pennsylvania would not participate in the Great American State Fair due to lack of interest from businesses.

“Nobody was interested,” Shapiro said. “This reflects this sad situation that we’re in, where the president has politicized this issue to a degree that companies don’t want to be a part of.”

Two days after the announcement, Fetterman and McCormick said they had formed an association to represent Pennsylvania at the expo, an effort “made possible entirely through private partnerships” without the use of taxpayer dollars, according to a release from McCormick’s office.

“Celebrating America’s 250th anniversary and Pennsylvania’s special role in our nation is important and bipartisan,” Fetterman said. “We know that our commonwealth is not participating in the Great American State Fair on the National Mall, and we should be. We are currently working with Pennsylvania’s booth to highlight the Commonwealth’s agricultural advantages, our businesses, and what makes Pennsylvania truly a great and historic place.”

McCormick added that representing Pennsylvania is essential because of the state’s role in America’s founding.

“Pennsylvania is where American history began, and we cannot afford to leave the Commonwealth unrepresented in our 250th anniversary celebrations,” McCormick said. “As the birthplace of American independence and home to the sacred land of Gettysburg and the weapons of democracy, Pennsylvania has a special responsibility to preserve, celebrate, and share its enduring heritage.”

Who will represent Pennsylvania at the Great American State Fair?

To ensure Pennsylvania representation at the Great American State Fair, McCormick and Fetterman worked with U.S. Secretary of Agriculture Brooke Rollins, the Pennsylvania Chamber of Commerce, the PennAg Industries Association, the Pennsylvania Farm Bureau, the National Federation of Independent Business (NFIB), the Pennsylvania Manufacturers Association and the Manufacturing Association.

This coalition of organizations will represent Pennsylvania at the fair.

“Pennsylvania Farm Bureau is pleased to have Pennsylvania agriculture on display as part of the Great American State Fair on the National Mall,” said Pennsylvania Farm Bureau President Chris Hoffman. “This is a great opportunity to showcase Pennsylvania’s top industries on a national level, along with other states working together to provide the food, fuel and fiber that sustains our nation.”

Finch Walker is a Pittsburgh Connect reporter for the USA TODAY Network. Please contact Walker at FWalker@usatodayco.com. Instagram: @finchwalker_. X: @_finchwalker.