Rules Set For Biden-Trump Showdown

Good morning and happy Monday. No one has ever built a working time machine (as far as we know). But if you ever visit Ethiopia, you are going back a few years. The African nation's traditional calendar is seven years and eight months behind the Gregorian calendar, which most of the world uses. So, yes, it is 2016 there right now. Have a great day!

In Today’s Brief

• Bump stocks: Ban overturned

• Gaza: Tactical pause plan

• House: Another GOP exit

• Nasdaq: Hot streak continues

• Charles Barkley: Retirement plan

... and more

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Top Tips

1) Guard rails

The Biden and Trump campaigns have agreed upon parameters for the first presidential debate.

• The basics: CNN will host the 90-minute event in Atlanta on June 27, starting at 9 p.m. ET. Network anchors Dana Bash and Jake Tapper will moderate. There will be no audience in attendance. It will be the earliest presidential debate in history after President Joe Biden and former President Donald Trump declined to participate with the Commission on Presidential Debates' pre-set schedule.

• Key terms: The candidates' microphones will be muted when it is not their turn to speak. No props or pre-written notes are permitted, but Biden and Trump will appear at uniform podiums -- order determined by coin toss -- and get a pad, pen and bottle of water. The candidates cannot interact with their staffers during the two commercial breaks.

• Big picture: CNN said Bash and Tapper "will use all tools at their disposal to enforce timing and ensure a civilized discussion" amid concerns the debate could become a spectacle. Biden and Trump have also agreed to a Sept. 10 debate hosted by ABC, but those rules have not yet been announced. CNN left the door open for independent candidate Robert F. Kennedy Jr. to qualify for the debate, but it is considered unlikely.

2) A real scorcher

The U.S. will grapple with the first significant heat wave of the year this week.

• Burning up: The Midwest and Northeast are expected to see dangerously hot temperatures after excessive heat already hit southern parts of the country. The desert Southwest could experience temperatures over 110 degrees; Chicago will likely be in the mid-90s with East Coast cities looking at potential record highs as a heatdome moves from Mexico and the Southwest to the Atlantic Coast.

• What is a heatdome? It's when a high-pressure weather system camps in the upper part of the atmosphere as heat builds under it and stays in place. One meteorologist compares it to melting a grilled cheese sandwich in a pan with a lid on. 

• Big picture: Extreme heat is supposed to blanket a large swath of the nation from Chicago to Maine by midweek. Experts advise staying inside whenever possible, seeking out air conditioning, staying hydrated and knowing the symptoms of heat illness to stay safe.

3) Progress stalls

The U.S. still trails other major economies when it comes to closing the gender gap.

• The news: America's gender parity is 43rd among 146 ranked world economies, according to the annual Globale Gender Gap Report released by the World Economic Forum. The U.S. scored just under 75% on the gender parity index, which was roughly flat YoY, and lags behind Canada, Mexico and many European nations.

• How it works: The index launched in 2006 and tracks four key metrics -- economic participation, educational attainment, health and political empowerment. Most countries have made progress in the last 18 years and significant strides have been made in terms of education and health. Iceland is No. 1 at just under 94%; Finland, Norway, New Zealand and Sweden round out the top-5 in that order.

• Big picture: The stagnation found in the U.S. reflects a global trend, according to the WEF. The organization now believes it will take 134 years, or five generations, to close the global gender gap. That is up from last year's 131-year estimate. Experts say the wave of critical elections around the world this year could catalyze efforts again.

Quick Tips

U.S. News

• The Supreme Court struck down a ban on bump stocks. The devices allow a semi-automatic rifle to operate similarly to a machine gun; the Trump Administration outlawed them after a 2017 mass shooting in Las Vegas (More)

• Attorney General Merrick Garland will not be prosecuted for being held in contempt of Congress. The Department of Justice said it determined the AG did not commit a crime by withholding audio of President Biden's interview with a special counsel (More)

• A "possible chemical agent" was released during Baltimore's Pride parade. Several people were injured at the event; police did not say in the injuries were due to the substance or a stampede caused by unexpected fireworks (More)

World News

• The Israeli Defense Force said it plans to enact daily tactical fighting pauses along a main Gaza road to facilitate aid deliveries to Palestinians. Prime Minister Benjamin Netanyahu said he is against the proposal (More) 

• Princess Kate made her first public appearance since announcing her cancer diagnosis. She attended the Trooping the Colour parade in London to celebrate King Charles' birthday (More)

• Ukraine's peace summit in Switzerland ended with a call for Russia to return all illegally annexed territory. Russian President Vladimir Putin recently said he would agree to peace talks if the Ukrainians dropped claims to occupied areas (More)

Campaign News

• Louisiana Rep. Garret Graves will not seek re-election. The Republican's 6th Congressional District was redrawn to favor Democrats; he declined to challenge fellow GOP Rep. Julia Letlow in a 5th District primary (More)

• President Biden's star-studded Los Angeles campaign fundraiser on Saturday generated over $30M. Former President Barack Obama, comedian Jimmy Kimmel and actors George Clooney and Julia Roberts were among those in attendance (More)

• A local political candidate in Texas was charged with sending fake racist online messages to himself while posing as his opponent's supporters. Taral Patel is a Democrat running for a precinct commissioner position; he allegedly used another person's photograph (More)

Business & Markets

• Major indexes closed mixed on Friday. The Nasdaq notched a record close for the fifth straight day (Dow -0.15%, Nasdaq +0.12%, S&P 500 -0.04%).

• Over 150 U.S. pro-trade groups want the Biden Administration to delay new Chinese import tariffs. The Americans For Free Trade coalition is asking to extend the public comment period to July 28; most duties will take effect August 1 (More)

• Apple and Meta are expected to face European Union anticompetitive charges. The companies would be the first impacted by the bloc's new Digital Markets Act, which is similar to U.S. antitrust law (More)

Entertainment & Sports

• Charles Barkley said he will retire from television commentary after the 2024-25 NBA season. The Basketball Hall of Famer is part of TNT's acclaimed Inside the NBA studio show; the network may lose league broadcast rights (More)

• Inside Out 2 earned $155M in ticket sales during its opening weekend in the U.S. and Canada. It was the second-best debut for an animated film in history, giving Disney and Pixar a lift after recent box office struggles (More)

• Bryson DeChambeau won the U.S. Open for the second time. The professional golfer shot six-under, besting second-place finisher Rory McElroy by one stroke (More)

Quick Hitters

• Feel Good: An Oregon high school's Class of 1944 recently held their reunion. Yes, you read that right -- six former Salem High students got together to celebrate the 80th anniversary of their graduation.

• Go Deep: Political pollsters were off the mark during the 2016 and 2020 presidential elections. They are taking measures to be more accurate in 2024 -- and to restore public confidence in their work.

• True Crime: There is always a first time for everything. Here is the wild story of how a bank robber became the first fugitive caught by the internet.

• Hot Topic: A Chick-fil-A in Louisiana is running a summer camp program that allows kids to "work" at the popular fast food chain for a day. While it is proving quite popular, it also has plenty of critics.

• Life Hack: If you eat bananas, do not throw away those peels. They can be used to fertilize your plants (and save money).

• 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 …

At least 25 Belarusian and Russian athletes will be allowed to compete at the Paris Olympics as neutral athletes. The International Olympic Committee will make rulings in several waves ahead of the Games' July 26 start; Belarus and Russia are barred from formally participating due to the war in Ukraine.

Question of the Day

Last week’s results

Trivia: Flag Day is an official holiday in only one state. Which one?

Flag Day is an official holiday in Pennsylvania.