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Anna's Daybreak News

Friday, 5:19 AM

October 4, 2024

Good morning news friend! Stay ahead of the curve, following the quickly unfolding events around you. 📰🌟

America’s Baby Bust

The fertility rate in the US fell to 1.62 births per woman in 2023. A 2% decrease from 2022 and the lowest rate since the 1930s. And well below the 2.1 needed for population replacement.

According to the Congressional Budget Office, immigration will help maintain population levels through 2054. If immigration declines, experts warn US population could start to shrink by the 2030s.

Trump supports public funding for in vitro fertilization. Harris proposed a $6,000 tax credit for newborns. They warn that low birth rates threaten Social Security’s future.

Countries like Japan and Italy also face falling birth rates. They have implemented policies like extended parental leave to encourage family growth. 

Source: Read More

Oil Prices Surge 

President Biden's statement about discussing Israeli strikes on Iran's oil facilities caused oil prices to jump over 4%.

Brent crude rose to $77 a barrel, an increase from $71 prior to Iran’s missile attack on Israel, which launched over 180 missiles.

Iran, contributes roughly 2 percent of global oil supply, producing about two million barrels daily. Analysts warn that if Israel targets Iran’s infrastructure, oil prices could exceed $200 a barrel.

Traders are wary about how escalations might affect the Straits of Hormuz (between Iran and UAE), this passage is critical for global oil transport.

Source: Read More

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Dockworkers Strike Suspended

US dockworkers have paused their strike, which had halted trade at East and Gulf coast ports.

The International Longshoremen’s Association, representing 45,000 workers, reached a tentative agreement with the US Maritime Alliance. This agreement extends their contract until January 15, 2025. 

The two parties will negotiate a long-term contract, aiming for a wage increase of around 62%. The strike threatened holiday shopping as ports handle about half of the US cargo. 

The extension allows time for discussions on other areas, including automation concerns.

Source: Read More

Service Sector Soars

The Institute for Supply Management (ISM) reported a nonmanufacturing Purchasing Managers' Index (PMI) of 54.9, up from 51.5 in August. A PMI above 50 indicates expansion. 

The new orders index jumped to 59.4, the highest since February 2023. However, employment in services took a hit, dropping to 48.1.

The Atlanta Federal Reserve estimates GDP growth at a 2.5% annualized rate for the third quarter, bolstered by consumer spending trends. 

 Source: Read More

Texas Against Insulin Price Surge

Texas Attorney General Ken Paxton filed a lawsuit against insulin manufacturers and pharmacy benefit managers (PBMs).

Paxton’s lawsuit claims that manufacturers increased insulin prices and then paid PBMs for favorable treatment. As a result, PBMs promoted the most expensive drugs while sidelining cheaper options.

The suit names Eli Lilly, Novo Nordisk, and Sanofi as the primary insulin makers. It also targets CVS Caremark, Cigna’s Express Scripts, and UnitedHealth’s OptumRx.

The manufacturers and PBMs refuted these claims. CVS and UnitedHealth promised to defend against what they consider baseless allegations.

Source: Read More

“Usually in a conflict, the middle ground is the least likely to be correct.”

Baked with love,

Anna Eisenberg ❤️