Today’s topics

• Inflation is cooling after earlier surges this year

• Record-Breaking $45 Million for a fossil

• Microsoft's AI-powered Designer app

• Staying up late might be good for your brainpower

  and more…

The S&P 500 and Nasdaq slid on Wednesday as investors rotated out of high-flying tech shares into more rate-sensitive stocks. The S&P 500 dropped 1.39% to 5,588.27, and the Nasdaq plummeted 2.77% to 17,996.92, marking its worst day since December 2022 and its first close below 18,000 since July 1. However, the Dow Jones bucked the trend, climbing 243.60 points, or 0.59%, to a historic close of 41,198.08, marking its first-ever finish above 41,000.

June consumer prices dip, paving the way for potential Fed Rate cuts. U.S. consumer prices fell for the first time in four years this June, thanks to lower gasoline costs and moderating rents. This decline signals a return to disinflation and brings the Federal Reserve closer to potentially cutting interest rates in September. The Labor Department's report, highlighting the second consecutive month of modest consumer price increases, suggests that inflation is cooling after earlier surges this year. Additionally, the report showed the smallest monthly increase in underlying inflation since August 2021, boosting confidence in the financial markets that the Fed might start easing its policies soon.

Record-Breaking $45 Million at Sotheby's Auction for a fossil. Sotheby's has set a new record by auctioning a Stegosaurus skeleton named Apex for nearly $45 million, the highest price ever paid for a dinosaur fossil. Initially estimated to fetch between $4 million and $6 million, the final sale price of $44.6 million far exceeded expectations. Touted as "the finest Stegosaurus to ever come to market," Apex's sale marks a significant milestone in the auction world. The auction concluded Wednesday morning, but the buyer's identity remains undisclosed.

Microsoft's AI Designer App Debuts on iOS and Android

Microsoft's AI-powered Designer app has officially launched on iOS and Android, following nearly a year in preview. This versatile app allows users to create custom images, stickers, greeting cards, and more using templates, and it leverages AI to edit and restyle images or create collages. Initially available on the web and via Microsoft Edge, Designer is now accessible to anyone with a personal Microsoft account and is free for Windows, iOS, and Android. The mobile app enables users to create and edit images on the go, making it a powerful tool for creative projects.

All Aboard the Future: World's First Hydrogen-Powered Ferry Debuts in San Francisco

San Francisco Bay Ferry, in collaboration with private and public sector partners, launched the MV Sea Change—the world’s first commercial passenger ferry powered entirely by zero-emission hydrogen fuel cells. Starting July 19, this groundbreaking vessel will offer free rides between Pier 41 and the Downtown San Francisco Ferry Terminal. Representing a major leap towards maritime decarbonization, the Sea Change will operate within the San Francisco Bay Ferry network for a six-month demonstration, highlighting hydrogen fuel cells as a viable means to cut greenhouse gas emissions and enhance air quality. Remarkably, this innovative ferry emits only water vapor, some of which is remineralized for onboard drinking water, making it the only vessel in the world with drinkable emissions.

Fireball blazes across NYC and NJ, shaking ground. Residents of New York City and New Jersey were treated to an extraordinary sight on Tuesday morning as a meteor blazed across the sky at 38,000 mph, according to NASA. The American Meteor Society reported numerous sightings of a daylight fireball around 11:17 a.m., accompanied by earthquake-like shaking and thunderous booms. The meteor, which entered the atmosphere above New York City, traveled westward into New Jersey, causing quite a commotion and an unforgettable spectacle for those who witnessed it.

Night owls outshine early birds in cognitive function. A recent study suggests that night owls may have superior cognitive function compared to early risers. Research involving over 26,000 participants found that those who stay up late scored higher on intelligence, reasoning, and memory tests. Conducted by academics at Imperial College London, the study used data from the UK Biobank to examine how sleep patterns, quality, and chronotype affect brain performance. It turns out that burning the midnight oil might just be good for your brainpower.

TikTok of the day:watch here

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