Today’s topics

• Wealthy buyers ditch mortgages for cash deals

• Europeans can't afford US

• First hydrogen fuel cell-powered superyacht

• Switzerland wins Eurovision

• Psychedelic toad toxin to cure depression

  and more…

The Dow Jones took a minor tumble on Monday, snapping its eight-day winning streak as it dipped 81.33 points or 0.21% to 39,431.51. This slip came amidst rising inflation worries, fueled by a New York Federal Reserve survey indicating consumers expect higher inflation rates in both the short and long term. While the S&P 500 barely moved, the Nasdaq managed to rise by 0.29%, closing at 16,388.24.

Equinox introduces $40,000-per-year membership. Equinox's latest offering, "Optimize by Equinox," at $40,000 a year, promises to help members live longer while optimizing their health. Developed in partnership with Function Health, this exclusive program offers personalized health plans, including personal training, nutrition, sleep coaching, and massage therapy. 

Wealthy buyers dodge mortgage rates. Wealthy New York and Florida homebuyers are ditching mortgages for cash deals, hitting record highs in luxury markets. Mortgages were popular during the pandemic, but now, it's all about cash. Across the US, cash purchases were up to 31% in the first quarter, matching the highest since 2013.

Economic gulf widens: Europeans can't afford US. With soaring US growth, prices, and wages, Europeans find the American dream increasingly out of reach. Economic comparisons between Europe and the US reveal a stark divide, fueled by the retreat of European economies compared to the robustness of the United States—the evolution since 2016 mirrors historical economic accelerations akin to the Gilded Age and Roaring Twenties. Americans are growing richer, widening the gap further. In 2016, GDP per capita in France was $38,350, compared to $58,180 in the US. By 2023, these figures rose to $47,360 and $85,370, respectively, highlighting an 80% gap, or 40%, when adjusted for purchasing power parities.

Roaring Kitty Reboots: The Meme Stock Revival Sparks GameStop and AMC Surge. Roaring Kitty has made his grand re-entrance to the social platform X, and guess what? He’s brought the meme stock mania along with him, echoing the wild days of 2021. After a three-year digital sabbatical, Keith Gill (yes, the Roaring Kitty himself) popped back up on Sunday, May 12, 2024, and it took no time at all for the stock market to feel his presence. On Monday, those nostalgically unpredictable shares of GameStop and AMC felt a sudden jolt, surging upward like it's deja vu all over again.

New Chat-GPT-4o can teach math and flirt

OpenAI has launched GPT-4o, the latest version of the AI behind ChatGPT. This new model is faster, can teach math, and even flirt. It's available to all users, including non-subscribers. GPT-4o can read and discuss images, translate languages, and identify emotions from visual expressions. It remembers previous prompts, handles interruptions smoothly, and responds instantly, offering a more natural conversation experience.

Apple closed a deal with OpenAI to incorporate ChatGPT technology into the upcoming iOS 18, the iPhone's next operating system. This move is part of Apple's broader strategy to infuse its devices with advanced artificial intelligence features. Apple has also been exploring licensing Google's Gemini chatbot technology. Although talks with Google are ongoing, no agreement has been reached yet. 

Psychedelic Toad Toxin Shows Promise in Easing Depression

A study published in Nature reveals that a modified version of the psychoactive toxin found in Colorado River toads can alleviate symptoms of depression and anxiety in mice. This research, conducted by Mount Sinai Hospital and Columbia University, suggests potential medicinal benefits without inducing hallucinations. Scientists have developed a new compound by modifying the 5-MeO-DMT toad toxin. This molecule targets serotonin receptors, offering antidepressant and anti-anxiety effects.

Teen scientist's breakthrough soap battles skin cancer. Meet Heman Bekele, a 14-year-old from Fairfax, Virginia, who's not your average teen. His innovative soap, inspired by his Ethiopian roots, won the top prize at the 3M Young Scientist's Challenge. Using lipid nanoparticles, his soap delivers cancer-fighting drugs, activating the body's immune cells to combat the disease.

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World's First Hydrogen-Powered Superyacht

Feadship has launched Project 821, the world's first hydrogen fuel cell-powered superyacht. This 390-foot-long vessel promises carbon-emission-free cruising and can power the entire hotel load for up to a week without noise or emissions.

Switzerland takes Eurovision crown. Switzerland emerged victorious in the 68th Eurovision song contest with "The Code" by Nemo. The competition was marred by protests and last-minute disqualifications.

Rare Northern Lights display. The Northern Lights, quite a rare sight in most regions, dazzled skywatchers across the world.

TikTok of the day: watch here

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