Morning Brew Daily Record Travel Can't Save Airline Earnings & TX Town Sick From Bitcoin?
Jul 12, 2024
Inflation is cooling down, hinting at a possible Fed rate cut. Despite record travel, airlines like Delta are struggling financially. A Texas jury ruled in favor of a bitcoin miner, but locals are distressed by the noise pollution impacting their health. The podcast highlights Costco as a top stock pick while Tesla faces declines in value. Meanwhile, an extravagant Indian wedding captures attention, and iconic casino The Mirage is set to close its doors, looking to part with its prize money.
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Cooling Inflation
- June's Consumer Price Index report shows inflation cooling down to 3%, the lowest since June 2023.
- This positive trend may lead to the Federal Reserve cutting interest rates in September, potentially stimulating economic growth.
Delta's Paradox
- Despite record air travel, Delta Air Lines' profits dropped 29% due to increased costs and oversupply of seats.
- This might signal a challenging earnings season for other airlines, especially budget carriers lacking premium offerings.
Bitcoin Mine Noise Pollution
- Residents near a Texas Bitcoin mine report health issues like hypertension and migraines, blaming the facility's constant noise.
- The mine's 70-90 decibel noise level, comparable to a chainsaw, highlights the conflict between tech growth and community wellbeing.
