• ☝️ In a scene reminiscent of the stadium in The Dark Knight Rises, a massive sinkhole suddenly swallowed part of a soccer field in western Illinois on Wednesday morning; the hole, which measures an estimated 30 feet deep and 100 feet wide, is thought to be the result of a limestone mine collapsing underneath the field; no injuries were reported.

BUSINESS & MARKETS

in partnership with Commons

• 💰 US markets closed higher (S&P: +0.1%; Dow: +0.1%; Nasdaq: +0.3%). | 💼 US jobless claims fell to 233,000 from 239,000 the previous week; the total number of Americans collecting unemployment benefits rose for the eighth straight week to 1.84 million, the most since November 2021. | 📊 US Q1 GDP growth was revised upward to a 1.4% annual pace; the previous figure was 1.3%.
• 🏪 Walgreens is closing an undisclosed number of its 8,600 US stores (it's currently reviewing a quarter of its stores that aren't profitable); the company will also pull back from its primary-care business; shares closed down 22%.
• 🏦 The Federal Reserve released the results of its annual bank stress tests; all 31 firms involved in the test, including JPMorgan and Goldman Sachs, cleared the Fed’s benchmarks; however, JPMorgan released a statement following the results saying its stress test losses should actually be higher than what the Fed disclosed.

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SPORTS, MEDIA & ENTERTAINMENT

• 🏀 The NBA Draft held its second and final round yesterday; the Los Angeles Lakers selected Bronny James Jr. with the 55th pick, setting up the first-ever father-son NBA duo with Lebron James. | 🏒 The NHL Draft kicks off tonight, with first round coverage on ESPN; rounds 2-7 take place on Saturday.
• 🎙️🤖 NBC will use an artificial clone of legendary sportscaster Al Michaels' voice to narrate its daily streaming recaps of the Summer Olympics. | 📰🤖 Time agreed to a multiyear content licensing deal and strategic partnership with OpenAI, allowing the ChatGPT-maker to train on Time’s 101-year archive of content.
• 🏈⚖️ The NFL was ordered by a federal jury to pay $4.7 billion in damages to consumers of the league’s “Sunday Ticket” telecast package for violating antitrust law; the NFL’s payment will triple to $14+ billion under antitrust law if the judgment is upheld (nearly two-thirds of the league’s annual revenue).

SCIENCE, SPACE & EMERGING TECH

in partnership with Paleovalley

• 🛰️ NASA awarded SpaceX an $843 million contract to build a spacecraft that guides the International Space Station to a safe destruction following its scheduled retirement in 2030. | 🚀 SpaceX is also reportedly selling shares at a $210 billion valuation in a secondary market sale.
• 🤖🧸 Toys "R" Us partnered with ad agency Native Foreign to create what it calls "the first-ever brand film using OpenAI's new text-to-video tool, Sora."
• 💊 Taking a daily multivitamin doesn’t lower people’s risk of death, though the pills might help some individuals manage certain health conditions, per a new NIH study.

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MISCELLANEOUS

• 🌀 An Atlantic storm system has a 60% chance of strengthening into a named storm in the Caribbean by Saturday afternoon, per the National Hurricane Center.
• 🏥⚖️ The Justice Department announced charges against 193 people in a nationwide crackdown on health care fraud schemes involving a collective $2.7+ billion worth of false claims; the defendants include 76 licensed medical professionals.
• 📜🏫 Oklahoma’s state superintendent issued a new directive requiring the Bible to be incorporated into the state’s public classroom curriculums effective immediately. (Read more)

CLICKBAIT

• 🤯💰 $30,000 a Month for 1,200 Square Feet? Why Monaco Is the World’s Most Expensive Place to Rent.