Good evening. Here’s the latest at the end of Wednesday.
Stocks hit a record highThe stock market has bounced back after a monthlong sell-off during the war in Iran. The S&P 500, widely viewed as a barometer of the health of the U.S. market, rose about 0.8 percent today, reaching a new all-time high. The market confidence comes even as energy prices remain elevated and economists warn of lasting effects from the war in the Middle East. “The market is trading assuming we have seen the worst of the conflict,” one analyst said. For more: In several countries, policymakers are raising alarms about public debt.
U.S. officials ‘feel good’ about possibility of Iran dealPakistani mediators arrived in Tehran today in an attempt to salvage peace talks between the U.S. and Iran before their cease-fire expires next week. Karoline Leavitt, the White House press secretary, said, “We feel good about the prospects of a deal,” but pushed back against reports that President Trump wanted to extend a cease-fire. An Iranian official said there was still no timetable for another round of negotiations. The efforts at diplomacy came as Iran threatened to halt all trade in the region in response to the U.S. naval blockade of Iranian ports in the Persian Gulf. So far, the blockade, which U.S. officials said was being enforced by more than 10,000 soldiers, appears to be working. In related news, Israel is considering a short-term cease-fire in Lebanon.
Jury says a music industry giant acts as a monopolyA federal jury found that Live Nation, the concert giant that owns Ticketmaster, has operated as a monopoly in violation of federal and state antitrust laws. The verdict, which was announced today, could have far-reaching consequences in the music industry. The federal government filed the lawsuit against Live Nation two years ago, calling for a breakup of the company. Last month, the Justice Department settled with Live Nation and exited the case, but 34 states continued the trial on their own. Live Nation, which argued that it was simply a successful business, will now face monetary damages.
Trump’s tax cuts increased refundsIt’s Tax Day, and Americans are beginning to see the effects of the president’s giant domestic policy bill from last year. The average tax refund has so far increased by about $350, or 11 percent, from a year ago, according to I.R.S. data. Republicans hope that voters will reward them in this year’s midterm elections, but it’s not clear how much of an advantage Trump will get. Our tax reporter Andrew Duehren explained. Related: I’m just glad I don’t have to pay taxes like a baseball player. In other Trump administration news:
Grad student loans are about to get more complicatedMany Americans are deciding this week whether to attend graduate school this fall. But unlike in the past, when students were able to borrow the entire cost of tuition and expenses from the government, new loan caps have been introduced. As a result, many students will need to secure private loans, and some could be shut out of school entirely. See how different programs will be affected. In other education news: American colleges and universities played a part in plunging public trust in higher education, a report from Yale found. More top news
This question comes from a recent edition of the newsletter. Click an answer to see if you’re right. (The link is free.) Which country “adopted” the Ukrainian town of Mykolaiv, helping to rebuild its physical landscape and social fabric?
A new show with heartMichelle Pfeiffer and Elle Fanning star in a new dramedy, “Margo’s Got Money Troubles,” out today on Apple TV. The series follows a brilliant college student (Fanning’s character) who falls into an affair with a professor, gets pregnant and turns to online adult modeling to pay the bills. You might expect a such a show to be dark and provocative. But our critic James Poniewozik writes that “Margo” is sweet, empathetic, funny and openhearted: “an old-school humanist message in a winsome Internet Era package.” Read his review.
Will economy fliers pay to sleep in pods?It’s easy to feel jealous of ultraluxury first-class travelers. They often get cozy-looking, lie-flat beds, while the rest of us are allowed to recline only a few inches. Would you pay for a few hours of the good life? For an additional $495, Air New Zealand is offering economy passengers a chance to sleep in a napping pod for four hours during a 17-hour flight between Auckland and New York. Other airlines are allowing passengers to turn rows of three seats into a couch.
Dinner table topics
Cook: Thwop a scoop of cold vanilla ice cream atop this warm cherry skillet cake. |
