Columbus, OH

Just two days after reaching a peak with a 750-point gain, the Dow closed down 530 points on Thursday amid continued sell-offs of AI and tech stocks. As the day ended, the Dow Jones Industrial Average was down 533 points, or 1.2%, to 40,665. Meanwhile, the S&P 500 and Nasdaq both shed 0.7%.

The Dow plunges 530 points as investors keep dumping AI and tech stocks

The big selloff of chip stocks was a bit excessive — at least that’s what Jefferies and Bank of America analysts think. “We believe the Bloomberg story on potential China restrictions is unsubstantiated and the market reaction is overdone,” Jefferies analyst Janardan Menon wrote in a research note Thursday. He’s referring to the hits taken by TSMC, Nvidia, ASML, Tokyo Electron, Arm, and Applied Material shares directly following reports of tough-on-trade sentiments from the Biden administration and comments on Taiwan from former President and Republican nominee Donald Trump.

The massive chip stock selloff was an overreaction, analysts say

Taiwan Semiconductor Manufacturing Company topped analysts’ expectations for the second quarter, reporting revenue of $20.82 billion for fiscal year 2024— up 40% from a year ago. Suggested Reading. The Taiwanese chipmaker reported NT$247.85 billion in profits this quarter, or $7.6 billion, a 36% rise from the year ago...

TSMC smashed earnings expectations thanks to AI chip demand

As the U.S. reportedly considers imposing a tougher trade rule on allies selling advanced chipmaking equipment to China, it could also ban U.S.-based Nvidia from selling a chip it specifically designed for the Chinese market, according to Jeffries analysts. Suggested Reading. When the U.S. does its annual review of U.S....

Nvidia could find a key part of its China business blocked

Lancaster County, PA

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NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

Hamilton Township, NJ

Rainbow Shops, a popular clothier known for its youth clothing, is preparing to shut down its location at the Hamilton Mall in Hamilton Township, New Jersey. The store is currently offering a hefty 40% discount on all items as part of its liquidation sale.

Popular Clothing Store Offers Offers Deep Discounts, Closing 950 Locations in Struggling Mall

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

The Shy Green

Salt Life Beer, a beloved brand synonymous with ocean enthusiasts and craft beer lovers, is facing turbulent times as it files for Chapter 11 bankruptcy. Known for its crisp and refreshing lager inspired by the sea, Salt Life Beer has become a staple for those who cherish the ocean's allure.

Another famous beer brand is going bankrupt and will file for Chapter 11

Carol Perez

There are lots of places in the US where you don’t necessarily need a car. There might be good public transportation and/or your area might be walkable, but for others, this might not be the case.

Free Car Programs: 16 Ways to Get a Car Without Paying

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Oregon State

Youngstown, OH

A look at some recent news from the pharmacy world. Rite Aid, a familiar name in communities across the country, is facing some tough times. After filing for bankruptcy, they've now announced the closure of four additional locations, adding to the more than 200 stores already shuttered. These closures are part of Rite Aid's strategy to reevaluate its retail presence and navigate through financial challenges.

A well-known pharmacy is closing four more stores because they went bankrupt

An internet technology outage caused by the cybersecurity firm CrowdStrike led to airport disruptions and flight cancellations all over the world Friday, but it could have been worse. In 2023, another computer problem cancelled every takeoff in the United States. Last January, IT personnel at the Federal Aviation Administration accidentally took down the Notice to Air Missions System because they “unintentionally deleted files while working to correct synchronization between the live primary database and a backup database.”

The CrowdStrike airport outage is bad — but not as bad as this

Illinois State

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

New Jersey State

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Trenton, NJ

Morristown Minute

NEW JERSEY - A Costa Rican man residing illegally in the United States was sentenced to 97 months in prison today for laundering over $2 million from wire fraud schemes, U.S. Attorney Philip R. Sellinger announced.

Costa Rican Sentenced to 8+ Years for $2M Elderly Fraud Scheme

Indiana State

Franklin, IN

A wave of closures is hitting Pizza Hut, a pizza chain known for its iconic slanted-roof buildings, with 6,775 locations feeling the pinch in the tough restaurant industry landscape.

A well-known pizza chain with over 6K locations has begun closing some of its stores

OpenAI introduced a smaller, more cost-efficient version of its most powerful model GPT-4o — and it could mean even more AI-powered apps. The new model, GPT-4o mini, is smarter and more than 60% cheaper than GPT-3.5 Turbo, according to OpenAI, meaning it is more affordable for developers building applications on OpenAI’s models. GPT-4o mini is priced at 15 cents per 1 million input tokens — or the unit of information an AI model uses, for example, a word or phrase — and 60 cents per 1 million output tokens. That is equivalent to 2,500 pages in a book, OpenAI said.

OpenAI has a smaller, cheaper version of its most powerful ChatGPT

Brookings, SD

There is some tough news in the coffee and cafe scene. Cottonwood Coffee, a beloved spot based in Brookings, South Dakota, has filed for Chapter 11 bankruptcy. This decision comes as they battle significant financial challenges, especially worsened by the lingering impact of the Covid-19 pandemic.

A coffee and cafe company has filed for Chapter 11 bankruptcy due to financial difficulties

Washington State

A key group of Boeing workers said they’d be willing to walk off the job if union negotiations don’t go their way. Members of International Association of Machinists and Aerospace Workers District 751, which represents Washington state employees for the troubled planemaker, nearly unanimously approved a vote that could set up a strike later this year. The ballot passed 99.9%.

Boeing could have a huge strike on its hands

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

Bedminster Township, PA

Bucks County Beacon

Something stinks in Pipersville and many local residents say the pungent smell is coming from Kingdom Provisions, LLC, a slaughterhouse located at 5960 Durham Road, where turkey buzzards are constantly perched in trees and an abundance of flies is considered commonplace.

Pipersville Residents Held Hostage By Slaughterhouse Horrors

NewsBreak

Apple briefly outpaced Google and Huawei in China's smartphone market, analysts say

Apple has finally reversed its iPhone sales slump in China. According to Jefferies analysts, Apple’s new iPhone discounts have helped the company turn around its underperformance...

Apple briefly outpaced Google and Huawei in China's smartphone market, analysts say

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