WHAT YOU NEED TO KNOW
- U.S. stock futures rose Monday, regaining a relative calm following a sell-off in Asia. Supply chain bottlenecks pushed inflation to its highest level in more than a dozen years as a record volume of cargo piled up in ports.
- Dow futures jump 150 points, as stocks rebound from the average’s worst week since October – CNBC
- The economy isn’t going back to February 2020. Fundamental shifts have occurred. – The Washington Post
- As Lumber Prices Fall, the Threat of Inflation Loses Its Bite – The New York Times
- @Neil_Irwin: The pandemic stimulus was front-loaded, creating a strongly positive fiscal impulse in the first quarter and a negative fiscal impulse in the quarters ahead. The question now: How smooth will the hand-off to an economy driven by private spending be?
- American Airlines announced it will trim some flights in July to alleviate strains on its operations as staffing shortages maintenance and other issues met growing demand for travel post-pandemic. Though the number of canceled flights equaled about 1% of planned flights in the first half of July, the scrapping of roughly 950 flights highlighted how travel companies are trying to adjust to a new normal as vacation-rental operators and rental-car companies face similar pressure.
- American Airlines canceling hundreds of flights through mid-July – The Hill
- Southwest still struggling with flight delays, cancellations – Associated Press
- @newly: Even with the new trims, American is flying much more than its closest competitors, United and Delta —an aggressive approach it has taken throughout much of the pandemic
- Remote learning is poised to outlast the pandemic as a small subset of families who have come to prefer online classes are pushing to keep the option and districts rush to accommodate them. Some studies have shown students falling behind in the era of remote learning. Advocates are calling for common-sense solutions to help get students back up to speed, especially Black, Hispanic and low-income students who have fallen further behind in the past year.
- A significant portion of the Indian population is still reluctant to get a coronavirus vaccine, threatening the country’s gains against COVID-19 following a deadly surge that ripped through the country in April and May. Indian health officials have reported more than 28,000 cases of a deadly fungal infection that is increasingly seen in coronavirus patients and survivors.
- India’s vaccinations hit record with free COVID shots – Reuters
- More Than 31,000 Black Fungus Cases in India COVID-19 Survivors – Insider
- @prasannavishy: Just today, India has administered almost 70 lakhs (7 million) Covid-19 vaccine doses. Madhya Pradesh alone has done more than 10 lakhs. Karnataka close to 9 lakhs.
- Olympic organizers said up to 10,000 domestic spectators will be allowed in Tokyo 2020 venues, contradicting recommendations from medical experts who said holding the events without fans was the least risky option. Though the limit is set at 50% capacity for both indoor and outdoor events, organizers noted that the rules could be changed and fans could still be barred altogether if coronavirus cases rise. A recent poll found that 86% of people in Japan are concerned about a rebound of COVID-19 if the Olympics and Paralympics are staged this summer.
- Why the Tokyo Olympic Games are allowing spectators – Quartz
- The Pandemic Has Some of the Best Boxers Watching the Olympics From Afar – The New York Times
- @jakeadelstein: On June 23rd, the anti-Olympics movement is going to surround the capital of Tokyo. It seems like the IOC has no regard for human life, friendship, harmony–the values in their charter. The Pandemic Games will go on no matter what Or maybe not.
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