401(k) millionaires, Women's World Cup, and best fall colors.

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Business & Economy

Daily stock market update

US stock markets closed mixed on Friday (S&P -0.01%, Nasdaq -0.20%, Dow +0.07%) ~ Stocks closed Friday’s session with weekly losses. Shares of big tech companies including Meta, Amazon, Microsoft and Alphabet also declined to end the week. (More)

More Americans are now 401(k) millionaires

Fidelity Investments reported that the number of people with $1 million or more saved in their 401(k) accounts jumped 10% from April to the end of June. There was also a 13% spike in millionaires with IRA accounts during the same timeframe. The larger balances came from a combination of factors including a stronger stock market, increased employer default contribution rates, and student loan deferrals allowing borrowers to focus on retirement savings. (More)

Thunderstorms are by far the costliest "major peril" event

The costliest type of natural disaster for insurers in 2023 is thunderstorms. The first half of 2023 brought $19 billion in insured losses for non-thunderstorm catastrophes while insured losses from thunderstorms dwarfed that number, costing insurers $35 billion. Economic losses from disasters reached $125 billion in the first half of 2023, of which 43% were insured. It’s likely that the former number will rise and the latter will fall as insurance becomes unavailable and more expensive. (More)

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US News, Politics, & Government

Powerful Tropical Storm Hilary makes landfall in Southern California

Tropical Storm Hilary hit Southern California 25 miles southwest of Palm Springs on Sunday evening. The storm will bring tropical rainfall rates to areas that have rarely or never experienced them with some of the rain collecting at rates of 3 inches per hour. Southern Californians are expected to be evacuated from areas most vulnerable to mudslides, debris flow, and other hazards. Hilary forced the cancellation or delay of 4,500 flights across the US on Sunday. (More)

Maui water is unsafe even with filters, one of the lessons learned from fires in California

People in Maui have been warned not to try and filter their own drinking water because they can’t remove all the toxins from the wildfire. The fires damaged hundreds of drinking water pipes, resulting in a loss of pressure that can allow toxic chemicals, metals, and bacteria into the water lines. For now, the people of Maui are relying on bottled water and jugs filled at tanker trucks, which have been brought in near burn areas. (More)

Jimmy Carter’s grandson says former president and first lady are ‘in the final chapter’

The grandson of former President Jimmy Carter and first lady Rosalynn Carter said the couple is in the “final chapter” of their lives. The former president is receiving hospice care and the former first lady is battling dementia. Carter is 98-years-old and began receiving hospice care in February. The couple, who have had the longest marriage of any first couple in US history, recently celebrated their 77th wedding anniversary. (More)

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World

Thousands flee homes after rebel attack in southern Sudan city

Thousands of people have fled their homes in the capital of South Kordofan state in Sudan after an attack by the Sudan People’s Liberation Movement-North rebels. Families ran from the conflict without food or money and sought shelter at schools and mosques away from the fighting. Some had only recently arrived in the area after fleeing from violence in the country’s capital of Khartoum. The conflict has killed at least 3,900 people nationwide. However the estimate is conservative as fighting restricts access to many areas. (More)

Australia to buy Tomahawk cruise missiles in $1.7bn spend on long-range defense capability

Australia will spend $1.7 billion on hi-tech missiles which it says are needed to hold adversaries further away and keep Australians safe. They will become the third nation after the US and UK to have Tomahawk cruise missiles. The weapons have a strike range of 930mi or 1,500km. Australia plans to begin developing its own missile manufacturing capabilities in 2025. (More)

2 Israelis killed at West Bank car wash as Israeli-Palestinian violence surges

Two Israelis were killed during a shooting attack in the West Bank on Saturday. The Israeli military is searching for the suspects who are believed to be Palestinian. The attack came after Palestinian media said a 19-year-old Palestinian died of his wounds following an Israeli military raid on the West Bank on Wednesday. Fighting and violence between the two groups is the worst its been in twenty years. Nearly 180 Palestinians and 29 Israelis have been killed in the area since the beginning of the year. (More)

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Sports & Entertainment

Spain outlasts England 1-0 to win its first Women's World Cup title

Spain won its first Women’s World Cup title after beating England 1-0 on Sunday. Olga Carmona’s lone goal in the 29th minute was the deciding factor in the game. She also scored the game-winner in the last minute of the semifinal game to send Spain to the final. Spain is the first European team to win the Women’s World Cup since Germany in 2007. (More)

Viktor Hovland sets course record with 61 to win BMW Championship

Viktor Hovland won the BMW Championship on Sunday by setting a course-record 9-under 61 in the final round. The top 30 remaining players will move on to play at the Tour Championship next week. (More)

Emmy-winning 'This Is Us' actor Ron Cephas Jones dies at 66, co-stars react

Actor Ron Cephas Jones has died at the age of 66. A representative said the cause of death was a long-standing pulmonary condition. Jones won two Emmy Awards for Best Guest Actor in a Drama Series for his role on the NBC drama “This is Us.” Over the course of his career he starred in major Hollywood movies, television shows, and Broadway productions. (More)

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Science, Health, & Tech

Cruise will reduce robotaxi fleet by 50% in San Francisco while California DMV investigates ‘incidents’

Cruise will cut its robotaxi fleet by 50% in San Francisco after multiple autonomous vehicles caused crashes this week. The self-driving cars appeared to stall in intersections and one collided with a fire truck. The DMV investigation comes just weeks after robotaxis were given the greenlight by the city of San Francisco to offer paid rides 24 hours a day. (More)

Russia's Luna-25 spacecraft crashes into the moon, ending its bid to reach the lunar south pole

Russia’s Luna-25 spacecraft crashed into the moon after it spun into an uncontrolled orbit. The craft would have been the first ever to land on the south pole of the moon. The mission was Russia’s first since 1976 as they raced India to discover ice on the moon’s surface. The lunar south pole interests scientists who believe craters may contain frozen water that future explorers could transform into air and rocket fuel. (More)

The iPhone 15 might have faster charging speeds

The next iPhone could feature a generic charging port. It is rumored the iPhone 15 might transition from Apple’s proprietary Lightning port to a USB-C connector. That’s the same charging port that’s used on nearly every laptop, Android device, iPad, and other gadgets sold in the past few years. USB-C could even enable iPhones to charge faster. (More)

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Bonus Material

Know the risks before you buy stuff from the TikTok shop.

Watch: What really happens to used electric car batteries?

4 signs you’re ready to turn your side hustle into a full time job.

The world’s best places for fall colors.