Biden's Performance Sparks 'Aggressive Panic'

Good morning and happy Friday. A candidate in Canada's recent parliamentary byelection received zero votes, but he found a silver lining. "I am the true unity candidate," Felix-Antoine Hamel told CBC News. "Everyone agrees not to vote for me." Now that is a positive attitude. Have a great weekend!

In Today’s Brief

• DOJ: Health care fraud busts

• Lebanon: Growing concern

• Ted Cruz: Tight race

• Walgreens: Store closings

• NFL: Sacked in court

... and more

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Top Tips

1) Fork in the road

President Joe Biden struggled in his first debate against former President Donald Trump.

• What happened: Trump had fact-checkers working all night with many of his assertions and did not fully commit to accepting the election results. But he controlled speaking time and was far more energetic. Biden spoke haltingly and delivered an uneven performance. "Right now as we speak, there is a deep, a wide and a very aggressive panic in the Democratic Party," CNN's John King said on-air moments after the debate ended, adding that party leaders and operatives thought Biden's performance was "dismal" and some felt he should leave the ticket.

• Back and forth: The debate was a slugfest as the candidates painted the other as a liar and took repeated personal shots. Abortion rights, the economy and immigration were the major topics. The candidates also sparred on Russia and the Gaza war. Biden had his strongest moments assailing Trump on the overturn of Roe v. Wade and his alleged derogatory comments about military veterans. Trump blasted Biden for the 2021 military withdrawal from Afghanistan and said he thinks Biden committed crimes. Oh, and they also fought about their golf games.

• Big picture: Most analysts felt Trump had a so-so outing and was repeatedly untruthful, but Biden's issues dominated the reaction and reignited concerns about his age. The performance will likely spur calls for Democrats to replace him and could cause polls to further tilt toward Trump. The candidates are scheduled to debate again in September.

2) No shield

The Supreme Court blocked Oxycontin manufacturer Purdue Pharma's controversial bankruptcy settlement on a 5-4 vote that transcended typical ideological lines.

• The decision: At issue was a clause shielding the billionaire Sackler family, Purdue Pharma's former owners, from future litigation. Bankruptcy laws do not permit non-debtors to receive such immunity without the approval of all claimants. Since the Sacklers have not personally declared bankruptcy, Justice Neil Gorsuch wrote in the majority opinioon, they cannot get that relief.

• Dissenting opinion: Justices in the minority argued nixing the settlement will harm victims of the opioid epidemic and their families. The Sacklers had agreed to put $6B into a compensation pot to help victims and the overall settlement was estimated to be worth as much as $10B. Ninety-seven percent of claimants agreed to the Sacklers' shield and Justice Brett Kavanaugh argued there is precedent for non-debtor release to secure significant relief for victims.

• Big picture: The decision is a win for the Biden Administration, as the Department of Justice opposed the settlement. The Sacklers and victims and families said negotiations will continue, but the decision will delay the delivery of funds to impacted parties. Kavanaugh called on Congress to act on the law in his dissent.

3) French correction

The leader of France's ascendant far-right party made waves with days to go before the first round of snap elections.

• The news: National Rally’s Marine Le Pen predicted her party will win a parliamentary majority and diminish President Emmanuel Macron's military powers. Le Pen claimed the president's role as commander-in-chief is "an honorary title" and the country's prime minister controls the military with their spending authority.

• At issue: Macron has floated sending French troops to Ukraine; Le Pen said RN would prevent Macron from doing so. RN has also said France's nuclear arsenal should not be used to defend other countries. The party pushed pro-Russia and NATO-skeptical policies in the past, but has dropped those talking points during the current campaign.

• Big picture: While polls indicate RN and aligned parties will capture the most parliamentary seats, they are projected to fall short of an absolute majority. RN leader Jordan Bardella, who would be the party's prime minister pick, said he would only take the job with a majority. Macron has vowed to finish his term regardless of the results. Voting starts Sunday with a second round on July 7.

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Quick Tips

U.S. News

• The Department of Justice charged nearly 200 people in various health care fraud schemes nationwide. Prosecutors said the scams and fake claims accounted for $2.7B in intended losses and $1.5B in actual losses (More)

• Oklahoma State Superintendent Ryan Walters has ordered public schools to incorporate the Bible and Ten Commandments into their curriculum. The decision comes on the heels of Louisiana's new law mandating the Ten Commandments is displayed in public schools (More)

• Recent court filings suggest Texas Attorney General Ken Paxton is under federal investigation. He was impeached by the Texas Legislature last year on abuse of office and bribery charges, but later acquitted (More)

World News

• U.S. officials believe a large-scale Israel-Hezbollah war in Lebanon may be imminent. Intelligence suggests a conflict is likely if the Israelis cannot reach a Gaza ceasefire with Hamas within weeks (More)

• NASA has tabbed SpaceX to dismantle the International Space Station in 2030. Elon Musk's aerospace company will get up to $840M to construct a spacecraft that de-orbits the station with a controlled reentry (More)

• Ukraine has signed a security agreement with the European Union. The deal pledges long-term diplomatic, financial, humanitarian and military support as the Ukrainians open talks to enter the bloc (More)

Campaign News

• Texas Sen. Ted Cruz faces a challenging re-election bid, according to a new poll. A University of Texas at Tyler survey found the Republican has a 43% to 39% lead on Democratic Rep. Colin Allred, a former NFL player (More)

• Former First Lady Michelle Obama is reportedly weary of campaigning for President Biden. The hesitancy is attributed to how Kathleen Buhle, Hunter Biden's ex-wife, has been treated by the First Family (More)

• North Carolina has denied certification to political parties that would have provided ballot access to independent presidential candidates Robert F. Kennedy Jr. and Cornel West. The pending decision could potentially boost Biden's chances in the state (More)

Business & Markets

• Major indexes closed higher yesterday. May's core PCE data -- the Federal Reserve's preferred inflation metric -- will be released this morning (Dow +0.09%, Nasdaq +0.30%, S&P 500 +0.09%).

• Walgreens will close a "significant" number of its 8.6K U.S. locations in the next few years. The pharmacy chain did not provide estimates, but it did say about 25% of its stores are unprofitable (More)

• Meta must face a potential class-action lawsuit alleging discrimination against U.S. workers. A former software engineer alleges Facebook's parent company prefers to hire cheaper foreign workers, violating a Civil War-era contract law (More)

Entertainment & Sports

• A jury ruled the NFL's Sunday Ticket subscription service violated antitrust laws, awarding $4.7B in damages. The league will appeal the class-action lawsuit decision, which would be trebled to $14B (More)

• Three-time reigning Formula 1 champion Max Verstappen will stay with Red Bull Racing. The driver has been linked to rival Mercedes in recent months; Verstappen is on pace to win a fourth straight title this season (More) 

• Kinky Friedman died at 79. The country music singer-songwriter was also a satirist and novelist; he wrote columns for Texas Monthly and mounted an independent gubernatorial run in the state (More)

Quick Hitters

• Feel Good: An Uber Eats driver left a handwritten note in a delivery noting he was working a second job to save money for his wedding. The impressed customer posted online about the gesture, it went viral and the internet is now helping to pay for the big day.

• Real Hero: When a New Jersey police officer was the first to respond to a fire call, he learned a man in a wheelchair was inside the burning house. The cop ran in and saved him.

• Take Note: Sunblock and sunscreen are not necessarily interchangeable. Make sure you understand the differences and the ingredients that may work best to protect your skin.

• Good Question: Should businesses be open all day, every day? A majority of Americans want key commerce locations like grocery stores and pharmacies to have 24/7 hours, according to a recent survey.

• Cooking Hack: Most people will have leftover hot dogs and hot dog buns at some point this summer. Here are some creative ways to ensure they are not wasted.

• OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes.”

Want more health and wellness news? Subscribe to our brand new newsletter, Optimize Me, and start living a healthier life through diet, exercise, sleep, and mindfulness:

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Looking Ahead …

Prince Harry will be honored at the ESPY Awards next month. He will receive the Pat Tillman Award for Service to recognize his work with the Invictus Games, an Olympics-style event for wounded service members.

Question of the Day

Yesterday’s results:

Will you watch the debate tonight?

• Yes (56%)

• No (44%)