Your Evening Briefing
“It smells like road kill” is how one farmer described the olfactory impact of soybeans rotting. While much of rural America voted for President Donald Trump in 2016, his trade war has forced soybean farmers into a high stakes gamble. With China not buying, they’re storing their crops instead of selling. Maybe Trump will do a deal, they hope, before huge swaths of the heartland begin to reek of decay.
Here are today’s top stories
Tech shares crumbled along with the broader market thanks in part to signs of weakening demand for Apple’s iPhone.
Hey Wall Street, about that stagnant wage problem facing many Americans? Don’t fret—your bonus may climb this year by 20 percent.
U.S. financial giants are hedging their bets when it comes to China, taking a cautious approach on entering its $45 trillion securities industry.
The newest tech billionaires are two Utah brothers who built an $8 billion software company—in their parents’ basement, of course.
Bubbles are destined to burst. On this week’s episode of Odd Lots, we predict the fall of the unicorns.
What’s Joe Weisenthal thinking about?Semantics. While legislative movement on the healthcare front seems unlikely in the near-term, it’s telling that Republicans now use the Democratic phrase “Medicare-for-all” to describe what they once derisively called “socialized medicine.”
What you’ll need to know tomorrow
- The king of comic books is gone. Stan Lee is dead.
- North Korea’s nuclear threat to America may actually be worse.
- The trade war with China could lead to an “Economic Iron Curtain.”
- Brexit looks like it’s about to blow up.
- Democrats have a new path to victory in the old Confederacy.
- GE is still in a world of hurt even with a new, soothing CEO.
- Meet the robot that’s better at bond trading than bond traders.
What you’ll want to read tonight
More than 30 are dead and hundreds missing as California went up in flames over the weekend. Fueled by climate change, local officials say this could be the new normal. Trump at first threatened to withhold federal funding, blaming state officials for poor management—though most California forests are federally run. See the devastation in pictures.
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