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Friday, July 24, 2026 |
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Good Morning! On this day in 1933, Keystone Camp in Brevard held the first recognized Christmas in July celebration. The two-day event, organized at the request of co-founder Fannie Holt, inspired a tradition that later spread nationwide. Two women smashed three world records at the Lumberjack World Championships this week, as we report in Et Cetera, and it got us thinking: what old-school skills are you still holding onto? Can you chop wood, change a tire, fix a leaky faucet without calling somebody? Hit reply and tell us the one skill you're proud you never lost. Today's sponsor, USVC, helps individual investors back the companies building the future before it's obvious. For decades, the fastest-growing startups were mostly off-limits to all but the wealthy and connected. That's finally changing, and their free guide helps explain how individuals are gaining exposure to companies like Anthropic, Supabase, and Mercury while they're still private. |
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 Oil Tops $100 as Attacks Spread to Red Sea
Brent crude oil prices pushed past $100 a barrel Thursday for the first time since May, after Iran-backed Houthi rebels claimed to have struck two Saudi tankers in the Red Sea. The attacks opened a new front in the conflict, spreading beyond the Strait of Hormuz, where tanker traffic has slowed to single digits. Roughly a fifth of the world's oil passes through. President Trump threatened "major military punishment" if the Houthis hit Saudi ships again, and vowed to destroy an Iranian bridge or power plant for every vessel attacked. See the post here. U.S. gas prices have climbed back to about $4 a gallon, and one analyst warned oil prices could top the $128 peak reached after Russia invaded Ukraine. |
Correspondents' Dinner Tries Again TonightThe White House Correspondents' Association will try again on Friday to hold its annual dinner, nearly three months after a gunman opened fire at the April event in what officials called an assassination attempt on President Trump. Secret Service Director Sean Curran warned that nationwide threats have hit levels unseen in his 24-year career, with roughly 10,000 protective intelligence cases opened since January. The rescheduled gathering moves to the Waldorf Astoria as a smaller affair. President Trump will attend and deliver remarks, joined by much of his Cabinet, though First Lady Melania Trump, Vice President JD Vance, and Secretary of State Marco Rubio will sit it out. Organizers framed the do-over as a statement that violence has no place in American life and a free press will not be intimidated. |
List: America's Top Private CompaniesSome of the country's largest businesses have never sold a single share of stock. Cargill leads the pack at $154 billion in annual revenue, followed by Koch at $125 billion, with Publix, Mars, and H-E-B rounding out the top five. More than half of the 15 biggest private firms operate in food, grocery, or beverages, a dominance driven by the sheer, steady volume of feeding a nation. Cargill has been family-owned since 1865 and produces roughly a quarter of all U.S. grain exports and a fifth of its meat. The Cargill-MacMillan family still controls more than 85% of the company. Meanwhile, AI darlings like OpenAI command enormous valuations but generate a fraction of the revenue these quiet giants pull in. See the full chart here.
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The following stories are featured exclusively on The Flyover Podcast—a daily show that gives you the most important headlines in under 15 minutes. Clicking the links will take you directly to these stories: ➤ Medicare covers a lot, but a new estimate shows retirees still face a soaring healthcare bill that keeps climbing every year. (Hear Details) ➤ Homicide numbers in major American cities are falling into territory the nation has not seen in more than a century. (Hear Episode) ➤ Ford reportedly fired a nine-year assembly worker accused of stealing snacks he insists he paid for. (Listen Now)   
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➤ The Trump administration announced new tariffs of 10% to 12.5% on imports from 60 countries set to take effect today, replacing the expiring 10% global duties. (More) ➤ Congress voted 214-208 to approve a war powers resolution directing President Trump to end military hostilities against Iran without congressional authorization, with four Republicans joining Democrats. (More) ➤ The House passed the Stop Insider Trading Act by a vote of 232-198, barring members of Congress, spouses, and dependent children from purchasing stocks, though Democrats were critical of it, allowing legislators to keep existing holdings. (More) ➤ R. James Woolsey, the former CIA director who served under former President Clinton from 1993 to 1995 during a turbulent post-Cold War era, died Tuesday at 84 from a stroke. (More) |
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| Flying together with our sponsor 
The Companies Defining the Next Decade Are Staying Private For Longer (and Growing Without You) There's a shift underway in how wealth gets built, and most investors are missing it. In 1980, the median company went public at 6 years old. In 2024, it was 13. That's 7 extra years of growth! By IPO, much of that growth had been captured by the wealthy and well-connected. But that's finally changing. USVC, a new fund from AngelList Asset Management, was built to help broaden access to venture capital, allowing retail investors a way to gain exposure to promising companies before they become well-known. Drawing on insights from $125 billion in assets, 13,000+ startups, and 4,500+ fund managers, their free 2026 Guide to Investing in Venture explains how individuals are now gaining exposure to top startups like Mercury, Supabase, Mercor, Anthropic, Sierra, and OpenAI while still private. Get your free guide to venture investing → Educational purposes only. Not investment advice. Not an offer of securities. |
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➤ The 2026 World Cup became the biggest betting event in American history, drawing a wager volume equivalent to 10 Super Bowls. The Spain-Argentina final alone drew more bets on BetMGM than every game of the 2025 World Series, 2026 NBA Finals, and Stanley Cup Final. (More) ➤ The Kansas City Chiefs unveiled renderings for their new $3 billion domed stadium in Kansas, scheduled to open for the 2031 season. (See Images) ➤ Patrick Kane, the all-time leading U.S.-born scorer in NHL history, is returning to the Chicago Blackhawks on a two-year, $16 million contract after three seasons with the Detroit Red Wings. (More) ➤ WNBA guard Sophie Cunningham told ESPN this week that she wants to protect young girls who "shouldn't have to go against biological men" in sports, a move applauded online by the U.S. Department of Education. (More) ➤ Yesterday’s Results: MLB | Golf |
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 Daily Market Report 07/23/2026
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NASDAQ
National Association of Securities Dealers Automated Quotations |
25,137.69 |
-2.15%
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SPX
S&P 500 |
7,408.30 |
-1.21%
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DJI
Dow Jones Industrial Average |
51,711.65 |
-0.97%
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BTC
Bitcoin |
$65,074.99 |
-1.55%
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GOLD
Per Ounce |
$4,051.80 |
-2.29%
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SILVER
Per Ounce |
$57.90 |
-3.53%
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OIL
West Texas Intermediate Crude |
$91.57 |
5.46%
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NVCR
Novocure Ltd |
$19.99 |
+28.39%
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Bitcoin, gold, silver, and oil are traded 24 hours a day. ➤ Big Stock Move: Novocure stock jumped over 28% on Thursday after the medical-device maker reported record quarterly revenue and active patient growth. (More) ➤ Eli Lilly will file for FDA approval of its next-generation obesity drug retatrutide in early 2027 after patients in two Phase 3 trials lost up to 22.6% of their body weight over 80 weeks. (More) ➤ Disney announced its third round of mass layoffs this year, with Pixar's Emeryville studio losing approximately 116 employees despite the blockbuster success of Toy Story 5. (More) ➤ Zillow research found over 300,000 empty lots listed for sale in the U.S. that it said could reduce the national housing deficit by 6.3% if developed, with loosened zoning and streamlined permitting cited as key enablers. (More) Flying together with our sponsor ➤ Final Days to Invest: Cytonics is developing what could be the first cure for osteoarthritis. While nothing's guaranteed, an uncured $560B disease is exactly what acquirers look for. Join 7,500+ people and invest before this month’s deadline. |
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| Flying together with our sponsor You Don't Have to Be a VC to Invest Like One Most people assume venture capital is a closed world reserved for the wealthy, accredited, and well-connected. For decades, that was true. It isn't anymore. USVC, a new fund from AngelList Asset Management, was built to help broaden access to venture capital. Their free 2026 Guide to Investing in Venture breaks down how private markets actually work:
- 5 ways individual investors can now access startup investing
- The fees few people mention before investing
- And how everyday investors are gaining exposure to private companies like Mercury, Anthropic, and OpenAI
Get the 2026 Guide to Investing in Venture for free → Educational purposes only. Not investment advice. Not an offer of securities. |
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➤ Lawmakers have introduced a bipartisan AI Kill Switch Act that would require companies to build controls that allow Homeland Security to shut down or throttle AI systems during emergencies, with violators facing fines of up to $20 million per day. (More) ➤ Meanwhile, a Florida pastor is suing OpenAI, alleging ChatGPT discouraged him from seeking care before a life-threatening blood clot, as the company broadly rolls out a new ChatGPT Health feature. (More) ➤ Scientists in the Gulf of California captured never-before-seen footage of orcas pulverizing a sunfish, with one whale smashing the prey while another held it steady. (Watch Video) |
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| Friday Entertainment is brought to you by: 
➤ Warner Bros. will celebrate the 25th anniversary of its Harry Potter film franchise by rereleasing all eight movies in theaters, with Harry Potter and the Sorcerer’s Stone featuring 12 minutes of bonus footage. Tickets go on sale on July 31, Harry’s birthday. (More) ➤ The Coyote vs. Acme trailer debuted this week, previewing the film Warner Bros. once planned to shelve for a tax write-off. It mixes animation and live action as Wile E. Coyote pursues a lawsuit against Acme. (See Trailer) ➤ The Big Bang Theory spinoff Stuart Fails to Save the Universe premiered on HBO Max this week, launching a 10-episode multiverse comedy that stars Kevin Sussman, who played the comic store owner in the original series. (More) Flying together with our sponsor ➤ You may have more home equity than you think. The average U.S. homeowner is now sitting on ~$315,000 in equity — and most have never touched it. Some are putting it to work: consolidating higher-rate debt, renovating, covering big summer expenses. Rates and fees swing a lot by lender, so the trick is comparing before you commit. [Match with a HELOC lender in under a minute →] |
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➤ Two women shattered three world records at the annual Lumberjack World Championships in Hayward, Wisconsin, where competitors sawed, chopped, and sprinted across floating logs. (More) ➤ Miami is now more expensive than New York for the first time on record, with the metro area's cost of living trailing only San Francisco, driven largely by soaring housing costs. (More) ➤ A working payphone stands alone on a quiet road at the edge of an Altadena, California, forest, wired not to a phone network but to a recorder. Passersby are invited to pick up the receiver and leave a message to someone they have lost, a stranger, or their future self. (See It) Flying together with our sponsor ➤ Don't Wait Until it's Too Late to Fix Your Hairline Get our LOWEST PRICING EVER on your first order for a limited time only from Keeps Hairloss Treatment. See results in 180 days or your money back! Get Started |
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Do you know how to chop wood?
- Hand me the axe
- I've tried
- Nope
Yesterday's Results: Should men be allowed to wear shorts at the office?
- Please, no shorts: 50%
- Yes: 31%
- Only on hot days: 19%
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 Daily Quote
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"We do expect bad people to show up. It's just a reality of where we are." — Sean Curran, U.S. Secret Service Director, on security ahead of Friday's rescheduled White House Correspondents' Dinner |
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| This is a paid advertisement for Cytonics Regulation CF offering. Please read the offering circular at https://invest.cytonics.com/ Forward-looking statements are subject to risks and uncertainties. There is no guarantee of performance. Past performance does not predict future results. All investments involve risk, including loss of principal. *Phase 1 clinical trials are designed primarily to assess safety and tolerability and do not establish efficacy. Clinical trial results are preliminary, and there can be no assurance that future trials will be successful or that any product candidate will receive regulatory approval. |
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Today's Trivia
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