THE SHOW NOTES: Israel Strikes Inside Iran, Ukraine Targets Wagner, & Kamala’s Running Mate

Welcome! This was the song performed before Kamala Harris took the stage last night.

HEADLINE: Delta CEO says CrowdStrike-Microsoft outage cost the airline $500 million - CNBC

NEW: Kari Lake won the GOP senate primary in Arizona - CNN

OUCH: The Army Bet $11M on The Rock and UFL Ginning Up Enlistments. It May Have Actually Hurt Recruiting Efforts. - Military

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Assassinations

Israel assassinated a top Hamas commander who was visiting Tehran for the inauguration of the Iranian President the day before. Though in exile in Qatar, Ismail Haniyeh served as the political leader of Hamas since 2017 and was intricately involved in the planning and execution of the October 7th attacks. The news is especially disturbing to the Iranians because Haniyeh met with Iran’s new President and Supreme Leader yesterday before Israel killed him in the same city. Israel has not commented on the strike.

The news comes one day after Israel assassinated a prominent Hezbollah commander in Beirut who was responsible for a missile attack that killed 12 Israeli children on a soccer field in the Israel-controlled Golan Heights.

While the twin assassinations of leaders in Iranian proxy groups have been an embarrassing blow to Iran’s Axis of Resistance, Israel is bracing for an Iranian response. China and Russia joined most Middle Eastern nations in condemning the attack.

Ukraine’s military intelligence helped separatist forces in Mali launch multiple surprise attacks on Russia’s Wagner Group resulting in the death of 80 mercenaries. The event marks the first time Ukraine has targeted Russia outside of the traditional boundaries of the current war and marks the single greatest loss of life for Russia in the Sahel Region of Africa.

Kamala’s Running Mate

Speculation is running wild that Kamala Harris will pick a sitting governor to be her Vice President. The reasoning comes from the campaign’s decision to press Wall Street donors to cut checks before a financial rule kicks in that would prohibit donations to a campaign ticket with a sitting governor. Furthermore, Kamala Harris will hold a campaign event in Philadelphia, Pennsylvania - the home state of Gov. Josh Shapiro - on Tuesday with her new running mate.

More importantly: Is Kamala Harris trying a southern accent in Atlanta?

Trump

Donald Trump’s chances of winning the presidential election fell to 56% according to Nate Silver’s polling forecast.

WSJ: The Haves and Have-Nots at the Center of America’s Inflation Fight

The third year of America’s inflation fight is widening a split at the heart of the economy.

The stock market is soaring, household wealth is at record levels and investment income has never been greater. At the same time, some families’ pandemic-era savings are running dry, and delinquencies on credit card and auto-loan payments have jumped.

Warning signals are flashing for more low- and middle-income Americans, exposing a division between people whose gains are being whittled down by elevated inflation and borrowing costs and those who are benefiting from high asset prices and bond returns. The crosscurrents are scrambling the outlook for the U.S. consumer—a bedrock of economic growth, corporate business plans and Wall Street investments. 

Full story at The Wall Street Journal (paywall).

Trending news:

• US carries out defensive airstrike in Iraq - ABC

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• Another senior Biden political aide to depart - Politico

• Google Olympics ad sparks new ire over generative AI - Axios

• Vance reportedly told donors Harris was threat in new blow to Trump campaign - The Guardian

• Joe Rogan Predicts Kamala Harris Defeats Trump: ‘I’m Just Being Honest’ - Mediaite

• ‘Worst Vice Presidential Pick of My Lifetime’: JD Vance’s Net Negative Favorable Rating Gets Even Worse - Mediaite

• Fed poised to cut rates, ignoring Trump and GOP lawmakers - Politico

• Biden criticises Obama administration amid tensions over White House race - The Telegraph

• Norah O’Donnell Leaving ‘CBS Evening News’ - Hollywood Reporter

• Venezuela’s Maduro Moves to Silence Opposition After Disputed Election - WSJ (paywall)

Market snapshot: