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The Fund, under normal circumstances, invests at least 80 percent of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, securities of the Index, and exchange-traded funds (ETFs) that track the Index, that, in combination, provide 2X daily leveraged exposure to the Index, consistent with the Fund's investment objective. The financial instruments in which the Fund most commonly invests are swap agreements and futures agreements which are intended to produce economically leveraged investment results.

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Elon Musk recently conducted a poll on X to gauge the political leanings of its users, <a href="https://www.benzinga.com/news/24/07/39872015/teslas-elon-musk-recently-pledged-a-huge-donation-to-donald-trump-and-the-ex-president-returned-the">garnering over 1.4 million responses</a>.
What Happened: On Saturday, Musk posted a poll on his X account, asking his followers in the U.S. to identify their political affiliations. 
The options provided were Democrat, Republican, and Independent. The poll, which is still open, has already received more than 1.4 million votes.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If you live in the USA, do you consider yourself
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827155331002007843?ref_src=twsrc%5Etfw">August 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The preliminary results show a significant lean towards the Republican Party, with 49.8% of respondents identifying as such. Independents follow closely behind at 35.3%, while Democrats trail at 14.9%.
Also Read: <a href="https://www.benzinga.com/news/24/07/39999410/what-a-second-trump-presidency-would-mean-for-elon-musk-and-his-many-ventures">What A Second Trump Presidency Would Mean For Elon Musk And His Many Ventures</a>
Why It Matters: Musk&#8217;s poll provides an interesting snapshot of the current political climate in the U.S. The high participation rate suggests a high level of political engagement among Musk&#8217;s followers, who are likely to be tech-savvy and forward-thinking individuals. 
The results so far indicate a shift towards the GOP, which could have implications for future elections and policy decisions.
It&#8217;s worth noting that Twitter polls are not scientific and the results should be taken with a grain of caution. However, they can provide valuable insights into the sentiments of a specific demographic, in this case, followers of Elon Musk.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/news/24/07/39657200/ex-trump-staffer-shares-texts-to-prove-that-ex-presidents-campaign-settled-to-keep-discrimination-an" target="_blank" rel="noreferrer noopener">Ex-Trump Staffer Shares Texts To Prove That Ex-President&#8217;s Campaign Settled To Keep Discrimination And Sexual Harassment Lawsuits Quiet</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Elon Musk Asks On X: What Party Do You Affiliate With?

Nicole Shanahan invested a staggering $19 million of her own money into Robert F. Kennedy Jr.&#8217;s failed <a href="https://www.benzinga.com/news/24/08/40429580/kamala-harris-and-donald-trump-push-economic-agendas-as-election-nears">presidential campaign</a>.
What Happened: Shanahan, Kennedy&#8217;s running mate, made a hefty contribution to their campaign. This included a $4 million donation to a pro-Kennedy super PAC. Kennedy is believed to have selected Shanahan as his running mate largely because of her ability to help finance the campaign.
Despite her financial support, Kennedy announced on Friday that he was suspending his campaign and endorsing former President Donald Trump.
In an interview <a href="https://www.youtube.com/watch?v=lAqVn5lRdes">on</a> the &#8220;Impact Theory&#8221; podcast, Shanahan voiced her concerns about potentially drawing votes away from Trump. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy" target="_blank" rel="noreferrer noopener">Kamala Harris And Donald Trump Clash Over Federal Reserve's Autonomy</a>
&#8220;I did not put in tens of millions of dollars to be a spoiler candidate, I put in tens of millions of dollars to win to, to fix this country,&#8221; she said. 
&#8220;There&#8217;s two options that we&#8217;re looking at and one is staying in, forming that new party, but we run the risk of a Kamala Harris and Walz presidency because we draw votes from Trump, or we draw somehow more votes from Trump,&#8221; added Shanahan in the interview. 
Shanahan&#8217;s wealth, which includes a reported $1 billion from her divorce from former Alphabet co-founder Sergey Brin, enabled her to be one of the most significant self-funding candidates of the 2024 cycle, as noted by Bloomberg News. 
Read Also: 
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However, her substantial investment did not result in electoral success for Kennedy.
Why It Matters: The unsuccessful campaign, despite the massive financial backing, highlights the unpredictable nature of political campaigns and the potential risks involved in such large-scale investments. 
Shanahan&#8217;s decision to support Kennedy&#8217;s campaign, and her subsequent concerns about drawing votes away from Trump, reflect the complex dynamics and strategic considerations involved in political funding. 
The case also underscores the fact that financial backing, even when substantial, does not guarantee electoral success.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image: Shutterstock

RFK Jr.'s Running Mate Nicole Shanahan Invested $19M In Failed Campaign

Police have apprehended 66-year-old Ronald Lee Syvrud of Cochise County, Arizona, who is accused of threatening to kill <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a>.
The arrest occurred during a manhunt that took place while Trump was visiting Arizona this week.
Authorities say Syvrud made death threats against Trump in social media posts over the past two weeks, <a target="_blank" href="https://www.bbc.com/news/articles/c86l4p583y6o" rel="noreferrer noopener">reported</a> BBC.
Trump was in Cochise County on Thursday, touring the U.S.-Mexico border.
In July, Trump narrowly escaped an assassination attempt at a campaign rally in Butler, Pennsylvania, where a bullet grazed him.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40541313/adam-kinzinger-donald-trump-suffocating-the-soul-of-the-gop-the-republican-party-is-no-longer-co" rel="noreferrer noopener">Adam Kinzinger: Donald Trump &#8216;Suffocating The Soul&#8217; Of The GOP &#8211; &#8216;The Republican Party Is No Longer Conservative!&#8217;</a>
Police reported that the suspect, from Benson, Arizona, about 50 miles southeast of Tucson, was apprehended within Cochise County, as announced by the Cochise County Sheriff&#8217;s Office on Thursday afternoon.
The office stated, &#8220;This subject has been taken into custody without incident.&#8221;
During Trump&#8217;s visit, reporters asked him whether he was aware of the ongoing search for the suspect.
&#8220;No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys,&#8221; Trump said.
This is not the first threat directed at a presidential candidate this election cycle.
Earlier this month, a 66-year-old man from Virginia was arrested for allegedly threatening Harris and other public officials, BBC added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/personal-finance/24/08/40511435/whats-stopping-kamala-harris-from-delivering-right-now-mark-cuban-says-the-same-thing-that-stopp" target="_blank" rel="noreferrer noopener">What's Stopping Kamala Harris From ‘Delivering Right Now?' Mark Cuban Says ‘The Same Thing That Stopped Mike Pence From Doing Anything'</a></li>
</ul>

Equities

Markets

General

Arizona Man Arrested For Threatening Donald Trump: Suspect Caught Amid Border Visit

Kamala Harris has gained an 8-point lead over <a href="https://www.benzinga.com/news/24/08/40429580/kamala-harris-and-donald-trump-push-economic-agendas-as-election-nears">Donald Trump in a national poll</a>.
What Happened: The poll, carried out by Bullfinch August 19-21, shows Harris with 47% support among registered voters, while Trump trails at 39%.
Ever since President Joe Biden withdrew his reelection bid, making Harris the Democratic candidate, she has outperformed Trump in most polls.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy" target="_blank" rel="noreferrer noopener">Kamala Harris And Donald Trump Clash Over Federal Reserve's Autonomy</a>
However, the political landscape may shift. Robert F. Kennedy Jr.&#8216;s exit from the race and endorsement of Trump may boost the Republican ticket. An NBC analysis suggested that Kennedy&#8217;s withdrawal could potentially benefit Trump more than it would harm him, possibly reducing Harris&#8217; lead.
A recent poll conducted <a href="https://www.fdu.edu/news/fdu-poll-finds-race-and-gender-push-harris-above-trump-nationally/">by</a> Fairleigh Dickinson University indicates that voter preferences are significantly swayed by race and gender considerations.
The poll reveals a 7-point lead for Harris over Trump (50% to 43%). However, this lead widens considerably when voters factor in the race or gender of the candidates.
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The survey incorporated an experiment to gauge the influence of race and gender on voting choices. When voters were prompted to consider the race or gender of the candidates, Harris&#8217; lead over Trump grew. Conversely, without such prompting, support for both candidates was almost equal.
Why It Matters: The withdrawal of Kennedy from the race and his endorsement of Trump could impact the dynamics of the upcoming election.
While Harris currently holds a comfortable lead, the redistribution of Kennedy&#8217;s supporters could tighten the race.
The coming weeks will be crucial in determining the final lineup and potential outcome of the race.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Trump Vs Harris: Kamala Harris Takes 8-Point Lead In New Poll, With Race And Gender Shaping Voter Preferences

Kamala Harris&#8216; address at the Democratic National Convention (DNC) significantly outperformed performed Donald Trump&#8216;s speech at the Republican National Convention (RNC) by a<a href="https://www.benzinga.com/news/24/08/40429580/kamala-harris-and-donald-trump-push-economic-agendas-as-election-nears"> whopping 22% in TV ratings</a>.
What Happened: The ratings data, which combined viewership from seven networks, revealed that Harris&#8217; speech scored a rating of 15, while Trump&#8217;s address trailed behind with a rating of 12.3. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy" target="_blank" rel="noreferrer noopener">Kamala Harris And Donald Trump Clash Over Federal Reserve's Autonomy</a>
Industry research firm Nielsen disclosed that the final night of the DNC averaged 26.2 million viewers across 15 networks, with Harris&#8217; speech alone pulling in 28.9 million viewers. This made the fourth night of the convention the most viewed, with viewership increasing by 30% from the previous nights.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Overnight ratings for the acceptance speeches of Kamala Harris and Donald Trump. Seven networks combined: Harris &#8211; 15.0 (10:30-11:15p) Trump &#8211; 12.3 (10:30-12m) Difference: 22%
&mdash; Michael Mulvihill (@mulvihill79) <a href="https://twitter.com/mulvihill79/status/1827014196221157648?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump, who is known for his fixation with ratings, had earlier predicted that the RNC&#8217;s viewership numbers would be unsurpassable by the DNC. However, the DNC outpaced the RNC&#8217;s viewership totals for each day of the conventions.
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Adding to Trump&#8217;s disappointment, the top market for Harris&#8217; speech on the final day was reported to be West Palm Beach, Florida, located adjacent to his Mar-a-Lago estate.
Why It Matters: The higher viewership for Harris&#8217; speech not only signifies her popularity but also indicates a potential shift in public sentiment towards the Democratic party. The fact that the top market for Harris&#8217; speech was West Palm Beach, Florida, a location close to Trump&#8217;s estate, could be seen as a symbolic victory for the Democrats.
These ratings could also be a reflection of the public&#8217;s interest and engagement in the upcoming elections. 
With the DNC outperforming the RNC in viewership for each day of the conventions, it suggests that the public is keenly following the political discourse and is invested in the election process.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

TV Audience For Kamala Harris' DNC Speech Surpasses Donald Trump's RNC Address By 22%

In the run-up to the highly anticipated Sept. 10 presidential debate, Mary Trump, niece of Donald Trump, has offered some strategic <a href="https://www.benzinga.com/news/24/08/40429580/kamala-harris-and-donald-trump-push-economic-agendas-as-election-nears">advice to Vice President Kamala Harris</a>.
What Happened: Mary Trump proposed that Harris should capitalize on her prosecutorial background during the debate. Speaking <a href="https://www.usatoday.com/story/news/politics/elections/2024/08/23/kamala-harris-mary-trump-debate-advice/74918685007/">with</a> USA Today, she advised Harris to concentrate on debunking her uncle&#8217;s inaccurate assertions, rather than focusing on her policy plans.
Mary Trump, a known critic of her uncle, depicted the election as a contest between a prosecutor and a criminal, a tactic that has been a key part of Harris&#8217; campaign from the start. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40303946/kamala-harris-and-donald-trump-clash-over-federal-reserves-autonomy" target="_blank" rel="noreferrer noopener">Kamala Harris And Donald Trump Clash Over Federal Reserve's Autonomy</a>
&#8220;Honestly, my advice to her would be keep doing what you&#8217;re doing. I think the setup of the prosecutor versus the criminal is right in her wheelhouse, but she has also proven not to be afraid to mock Donald because he deserves our mockery,&#8221; Mary Trump told the outlet.
Both Harris and Donald Trump have initiated their debate preparations, with Harris conducting practice debates at her alma mater, Howard University. The debate is set for Sept. 10 in Philadelphia and will be broadcast by ABC.
&#8220;I like the fact that she refers to him as &#8216;Donald&#8217; because he doesn&#8217;t deserve anybody&#8217;s respect at this point, and she will not let him get away with lying repeatedly,&#8221; she added.
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</ul>
&#8220;I think she needs to understand that she&#8217;s going to have to do the job of fact-checking in real time and should focus more on uncovering Donald Trump&#8217;s nonsense by refuting his lies and underscoring just how dangerous his vision for America is, and not worry so much about outlining the Democratic party&#8217;s policy positions,&#8221; Mary Trump said.
&#8220;It will be the first time a lot of the American people actually see what a petty, small, insecure, weak man Donald Trump really is,&#8221; she added.
Why It Matters: This advice from Mary Trump comes at a crucial time as the debate could be a game-changer in the upcoming elections. Harris&#8217; background as a prosecutor could be a significant advantage in countering Donald Trump&#8217;s claims. 
The emphasis on fact-checking in real-time could also help in maintaining the integrity of the debate and ensuring that the focus remains on substantial issues rather than unfounded claims. 
The upcoming debate is eagerly awaited as it could potentially shape the narrative for the rest of the campaign.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mary Trump Offers Debate Strategy For Kamala Harris: Let People 'See What A Petty, Small, Insecure, Weak Man Donald Trump Really Is'

Two astronauts who have been at the International Space Station since early June will return aboard a SpaceX vehicle rather than the Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) <a href="https://www.benzinga.com/news/24/08/40386891/nasa-to-finalize-decision-on-return-of-sunita-williams-butch-wilmore-from-iss-by-late-august-says-bo" target="_blank" rel="noreferrer noopener">spacecraft that transported them there</a>.
NASA Administrator Bill Nelson announced on Saturday that astronauts Barry Wilmore and Sunita Williams will stay in orbit until early next year, when they will return aboard a SpaceX spacecraft, <a target="_blank" href="https://www.wsj.com/science/space-astronomy/nasa-taps-spacex-to-return-starliner-astronauts-dealing-blow-to-boeing-0d267d07" rel="noreferrer noopener">reported</a> The Wall Street Journal.
This decision is a blow to Boeing, which spent years developing the Starliner vehicle that carried the astronauts to the space station on June 6.
During the flight, multiple thrusters temporarily malfunctioned, and engineers discovered further helium leaks in its propulsion system, The Wall Street Journal added.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40359112/tesla-ceo-elon-musk-thinks-its-a-good-idea-to-invite-trump-to-giga-texas-he-is-a-big-fan-of-manufact" rel="noreferrer noopener">Tesla CEO Elon Musk Thinks It&#8217;s A &#8216;Good Idea&#8217; To Invite Trump To Giga Texas: &#8216;He Is A Big Fan Of Manufacturing In America&#8217;</a>
In the weeks following, NASA and Boeing have debated whether the vehicle&#8217;s issues would pose any risks if it were to return the astronauts to Earth.
Opting for SpaceX to return Wilmore and Williams will extend their ISS stay to about eight months, far beyond the original eight-day mission planned for testing Starliner, with a return initially set for mid-June.
Nelson mentioned that he had discussed the Starliner issues with Boeing&#8217;s new CEO, Kelly Ortberg, who reaffirmed the company&#8217;s commitment to addressing the vehicle&#8217;s challenges.
According to The Wall Street Journal, Mark Nappi, a Boeing vice president managing Starliner, informed employees that the decision was disappointing.
Boeing had previously asserted that data from their and NASA&#8217;s evaluations indicated Starliner was safe for the return flight.
Nappi conveyed that Boeing is prepared to implement the necessary steps to align with NASA&#8217;s revised plan, emphasizing that their top priority is ensuring the safety of both the crew and the spacecraft.
NASA&#8217;s decision to not permit Boeing to attempt the return of Williams and Wilmore is likely to spark concerns about the future of the Starliner program.
Boeing has invested over a decade and reported losses exceeding $1.4 billion due to delays caused by software issues, sticky valves, and problems with the spacecraft&#8217;s parachute system, The Wall Street Journal added.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40331946/nasa-astronauts-are-stuck-at-iss-due-to-boeing-starliners-issues-but-they-arent-the-first-ones-to-be" target="_blank" rel="noreferrer noopener">NASA Astronauts Are Stuck At ISS Due To Boeing Starliner&#8217;s Issues, But They Aren&#8217;t The First Ones To Be Marooned Outside Earth: Here&#8217;s What Happens When Space Travelers Get Stranded</a></li>
</ul>

SPACE

NASA Chooses SpaceX Over Boeing For Stranded Astronauts' Return: Starliner's Future In Doubt

The Federal Reserve is expected reduce its benchmark interest rate from a 23-year high next month, affecting consumer debt, <a href="https://www.benzinga.com/news/24/08/40541128/fed-chair-powells-signal-sets-stage-for-rate-global-central-banks-hint-at-interest-rate-cuts-in-revi" target="_blank" rel="noreferrer noopener">savings, auto loans and mortgages</a>.
Experts currently predict three quarter-point reductions in September, November, and December, with the potential for deeper cuts, <a href="https://fortune.com/2024/08/23/fed-rate-cuts-personal-finance-cd-bonds-auto-loans-mortgages-credit-card-debt-borrowing/" target="_blank" rel="noreferrer noopener">reported</a> Fortune.
Fed Chair Jerome Powell indicated in his keynote speech at the Fed&#8217;s annual conference in Jackson Hole that it is time for the Fed to start lowering interest rates, emphasizing that the specifics of the rate cuts will be influenced by new data, future forecasts, and risk assessments.
Given Powell&#8217;s comments and recent economic trends, the central bank is anticipated to reduce its key rate by a quarter-point at next month&#8217;s meeting, with further cuts likely in the subsequent months.
Effect On Mortgages
Although the Federal Reserve&#8217;s benchmark rate doesn&#8217;t directly determine mortgage rates, it does influence them, with both typically moving in tandem, noted LendingTree senior economist Jacob Channel.
He added that mortgage rates have recently fallen in anticipation of the Fed&#8217;s expected rate cut, Fortune added.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40535770/feds-powell-hints-at-policy-shifts-dollar-plunges-gold-rallies-as-investors-flock-to-rate-cut-wi" rel="noreferrer noopener">Fed&#8217;s Powell Hints At Policy Shifts, Dollar Plunges, Gold Rallies As Investors Flock To Rate-Cut Winners: This Week In The Markets</a>
&#8220;It goes to show that even when the Fed isn&#8217;t doing anything and just holding steady, mortgage rates can still move,&#8221; Channel said.
Melissa Cohn, regional vice president at William Raveis Mortgage, agreed, emphasizing that the key factor is the signal the Fed is sending to the market, rather than the rate change itself.
Impact On Savers And Credit Card Debts
Greg McBride, chief credit analyst at Bankrate, advises savers to secure favorable yields now before the anticipated rate cuts start, Fortune added. &#8220;For those who might be looking at&nbsp;Certificates of Deposit&nbsp;or bonds — you want to jump on that now,&#8221; he said.
&#8220;Your credit card bill is not going to plunge the day after the next Fed meeting,&#8221; cautions LendingTree chief credit analyst Matt Schulz.
&#8220;Nobody should expect miracles,&#8221; the report read.
Nevertheless, as the benchmark rate falls, borrowers can eventually expect more favorable rates, especially since many are dealing with some of the highest credit card interest rates in decades.
WalletHub&#8217;s August Credit Card Landscape Report shows average rates of 23.18% for new offers and 21.51% for existing accounts.
Effect On Inflation &amp; Job Market
Recent government reports show that consumer prices increased by just 2.9% in July compared to the previous year, marking the smallest rise in over three years, Fortune added.
However, recent employment data raises concerns: July&#8217;s hiring was significantly lower than anticipated, and the unemployment rate has climbed to 4.3%, the highest in three years, indicating economic weakness. On the other hand, strong retail sales have eased recession worries.
The Federal Reserve&#8217;s future rate cuts will partly depend on the developments in inflation and the job market over the coming weeks and months.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40535564/powells-dovish-stance-ignites-rally-in-stocks-craving-lower-borrowing-costs-3-etfs-positioned-fo" target="_blank" rel="noreferrer noopener">Powell&#8217;s Dovish Stance Ignites Rally In Stocks Craving Lower Borrowing Costs: 3 ETFs Positioned For Fed Rate Cuts</a></li>
</ul>

Macro Economic Events

Fed Rate Cuts Coming? What You Need to Know About Mortgages, Borrowing And Saving

The idea of not having to pay rent while working a job might sound like a great perk. One flight attendant did just that and now lives a &#8220;dream life&#8221; thanks to <a href="https://www.benzinga.com/topic/airlines">the airline industry. </a>
What Happened:&nbsp;To be able to travel around the world&nbsp;is a&nbsp;<a href="https://www.benzinga.com/news/23/06/32853534/this-millennial-ditched-us-for-bali-with-zero-savings-now-lives-in-luxury-on-140k-a-year" target="_blank" rel="noreferrer noopener">dream come true</a>.
Thirty-three-year-old&nbsp;Alexandra Cosoff&nbsp;has done just that, leaving Queensland, Australia, to serve as a flight attendant for Emirates. Cosoff lives in Dubai&nbsp;but hasn't paid rent in ten years.
Cosoff enjoys a "generous benefit package" working as a cabin supervisor for Emirates, as&nbsp;<a href="https://www.news.com.au/travel/travel-updates/travel-stories/inside-the-life-of-an-emirates-flight-attendant/news-story/5aa991f62040eb828cf8d34ebca5d9bb" target="_blank" rel="noreferrer noopener">reported&nbsp;</a>by news.com.au in 2023.
"Our accommodation is provides and salary is tax free —&nbsp;and not just that, we have a lot of other things taken care of like transport, laundry, we have full medical and dental coverage," Cosoff&nbsp;told news.com.au. "We are very well looked after."
Cosoff said that a large portion of her salary&nbsp;used to go to rent and bills while working in Australia. Working for Emirates, a United Arab Emirates airline, Cosoff is now able to save more of her income and travel the world.
"What was very attractive to me was also not paying tax on top of my salary," she said.
Cosoff&nbsp;said she lives in an apartment provided&nbsp;by the airline.
"You can either get company-provided accommodation or opt for accommodation allowance," she said.
Cosoff, who was formerly a makeup artist, said she is now living the "dream life."
"I have been so lucky. I've had the most amazing time," she said.
Cosoff told the outlet that&nbsp;training to be a flight attendant with Emirates can be intense and takes eight weeks.
"It's such a rigorous training, but you will keep that with you for life – it give you cultural awareness, how to maintain calm and composure, and once you have all those skills no one can take that away from you," she said.
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Why It's Important: 
The report states that new Emirates flight attendants receive a base salary of approximately $1,236 per month, along with an hourly rate of about $17.86. They typically work between 80 to 100 flight hours each month and also receive meal allowances.
On average, economy class flight attendants earn around $3,435 per month, while cabin attendants tend to earn more.
Cosoff, who holds a degree in marketing and public relations, mentioned that a career in aviation had always appealed to them.
"Ever since I was a young girl I wanted to be a flight attendant. I remember seeing Emirates cabin crew on TV with their red hats and striking red lipstick and thinking, ‘Wow, they're so beautiful,'" she said.
Cosoff&nbsp;told the outlet that she recommends those interested in becoming flight attendants to apply for what she called&nbsp;"a dream come true.&#8221;
For more inspiring stories about people around the world,&nbsp;<a href="https://www.benzinga.com/topic/benzinga-inspire" target="_blank" rel="noreferrer noopener">check out Benzinga Inspire.&nbsp;</a>
This article was previously published by Benzinga and has been updated.
Photo: Yaroslav Astakhov/Shutterstock.com

Flight Attendant Hasn't Paid Rent For 10 Years, Tax-Free Salary Helps Her Live 'Dream Life'

&#8220;Shark Tank&#8221; star Kevin O&#8217;Leary has issued a warning to Democrats about <a href="https://www.benzinga.com/news/24/08/40429580/kamala-harris-and-donald-trump-push-economic-agendas-as-election-nears">Kamala Harris as the party&#8217;s presidential candidate</a>.
What Happened: O&#8217;Leary expressed his apprehensions about Harris during a Fox News appearance on Saturday. He insinuated that the party might be on the verge of repeating a previous blunder made with Hillary Clinton, who was widely expected to win but ultimately lost.
The investor also pointed out the absence of a comprehensive selection process for the nominee, contending that the party overlooked a chance to &#8220;suck up another week of airtime.&#8221;
In the interview <a href="https://www.foxnews.com/video/6360947194112">with</a> Fox, O&#8217;Leary said, &#8220;It's 50-50, she may win, she may lose. This whole party, the Democratic Party, is going to revisit what happened here because they did the same thing with Hillary Clinton. It was assumed she would win, they anointed her, she lost.&#8221;
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He drew a parallel to a business sale, underscoring the significance of considering multiple offers before reaching a conclusion.
"I'm not saying she's going to lose, but I would have never let that happen if I'm selling a business. I tell my managers, never bring me one offer, bring me a process, show me there's no other bid out there that I want, then I'll make a decision if I'm selling. I was amazed they didn't do that here," he told the outlet. 
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O&#8217;Leary&#8217;s remarks follow the Democratic National Convention in Chicago, where Harris was hailed as the party&#8217;s nominee.
Why It Matters: O&#8217;Leary&#8217;s warning to the Democrats comes at a crucial time, as the party is gearing up for the upcoming elections. His comparison of the nomination process to a business sale highlights the importance of strategic decision-making in politics. 
The lack of a thorough selection process, according to O&#8217;Leary, could potentially lead to a repeat of the 2016 election scenario. 
The Democrats&#8217; decision to place Harris at the forefront of their party is a significant move, and the potential implications of this decision are yet to unfold.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Kevin O'Leary Cautions Democrats About Kamala Harris: 'They Did The Same Thing With Hillary Clinton'

Gov. <a href="https://www.benzinga.com/topic/gretchen-whitmer" target="_blank" rel="noreferrer noopener">Gretchen Whitmer</a> (D-Mich.) secured a highly coveted speaking slot at the Democratic National Convention, appearing in prime time on the final night just before <a href="https://www.benzinga.com/topic/kamala-harris" target="_blank" rel="noreferrer noopener">Kamala Harris&#8216;</a> acceptance speech.
Whitmer seized the opportunity to champion the vice president as someone who grasps the everyday struggles of Americans, is adept at managing crises, and has a proven track record of getting things done, <a href="https://www.huffpost.com/entry/gretchen-whitmer-democratic-national-convention-speech_n_66c7f9cee4b029313b6f9391" target="_blank" rel="noreferrer noopener">reported</a> HuffPost.
&#8220;Kamala Harris knows who she is fighting for,&#8221; Whitmer said. &#8220;Kamala Harris, she gets us. She sees us. She is us.&#8221;
In highlighting these attributes, Whitmer sharply contrasted them <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a>, portraying him as an out-of-touch tycoon who likely never shopped for groceries and unfit to handle a crisis.
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&#8220;One day, when you&#8217;re just trying to get everyone out the door, a news alert goes off,&#8221; Whitmer said, representing a fictional crisis. &#8220;You will ask, &#8216;Who the hell is in charge? What if it&#8217;s him? What if it&#8217;s that man from Mar-a-Lago?'&#8221;
In contrast, Whitmer described Harris as tough and tested.
Whitmer emphasized that she views Harris as a Democrat similar to herself and vice-presidential nominee Tim Walz: pragmatic leaders who prioritize achievable goals to improve people&#8217;s lives.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Media

Gretchen Whitmer Rips Donald Trump, Hails Kamala Harris In Fiery DNC Address

<a href="https://www.benzinga.com/personal-finance/24/07/39710541/kevin-oleary-says-you-can-survive-on-500-000-and-do-nothing-else-to-make-money">Kevin O&#8217;Leary</a>, aka &#8216;Mr. Wonderful,&#8217; the entrepreneur on &#8220;Shark Tank,&#8221; shared a painful lesson learned in business: losing $750,000 by blindly investing in a friend&#8217;s startup. Speaking during the 10X Growth Con 2021 alongside Grant Cardone, O&#8217;Leary candidly shared how his emotions overcame his otherwise sharp instincts on finance.
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&#8220;I gave him $250,000,&#8221; said O&#8217;Leary as he explained the start of his ill-fated investment to the audience. Just 60 days later, his friend returned for another $500,000 to keep things going. He had a gut feeling telling him not to do it, but O&#8217;Leary decided to support his friend again. But it all went sour. The result? A total loss. &#8220;Sixty days later, he comes back and says, ‘I need another $500,000 to make this work,'&#8221; O&#8217;Leary lamented. &#8220;A moment of silence for that money.&#8221;
He said this would haunt him for the rest of his life, citing, &#8220;This is one mistake I&#8217;ll take to my grave.&#8221; He reflected on ignoring his instincts, saying, &#8220;I never should have given that guy a single penny. It was a textbook error where I let my emotions cloud my financial judgment.&#8221;
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Experts in behavioral economics – an area of study that examines how human psychology influences financial decisions – would no doubt agree with O&#8217;Leary. Emotions are often a big trap for investors and decisions are made out of fear, greed, or even loyalty rather than rational analysis.&nbsp;
A common pitfall is confirmation bias, in which investors actively seek information supporting their preconceived beliefs and ignore information suggesting otherwise.
The other key barrier is risk aversion, whereby the fear of losing money outweighs the potential for benefiting from money in profitable investments. It can lead to overcautious decisions, missing out because one fears taking calculated risks.
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To balance these biases, the best approach is to slow down any impulsive actions or decisions. &#8220;Take your time before acting; don&#8217;t act on impulse,&#8221; suggested O&#8217;Leary. Gathering all the information possible and seeking professional advice where necessary may further support this approach.
O&#8217;Leary believes in a thought-out investment plan. &#8220;One way to avoid emotions is by creating an investment plan and sticking to it,&#8221; he urged. This would pertain to a due diligence checklist or even time frames for investments set ahead of time so that the decisions made would not be gut feelings.
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It is a disciplined approach that includes a margin of safety complemented by risk-reducing strategies such as purchasing securities below their perceived market values and diversification strategies. Through diversification, the rest of the portfolio will not be obliterated in case one investment fails.
Mobile investment apps can also help <a href="https://finance.yahoo.com/news/real-estate-investors-target-record-121513478.html">investors </a>put their money to work. Acorns, for instance, does this by rounding up everyday purchases to the nearest dollar and putting that extra change into a diversified portfolio. This way, investors do not get emotionally attached to every decision and can grow their wealth.
Finally, O&#8217;Leary suggests taking some time out – the cooling-off period – before investing. &#8220;Sleep on it,&#8221; he says. Emotions will settle and decisions can be made with a clear head.
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Startups

Kevin O'Leary Reveals He Lost $750K On A Friend's Business – Here's How To Avoid Letting Emotions Derail Your Investments

On his X platform, Elon Musk publicly agreed with Donald Trump&#8216;s critique of the Democratic National Convention, <a href="https://www.benzinga.com/news/24/07/39872015/teslas-elon-musk-recently-pledged-a-huge-donation-to-donald-trump-and-the-ex-president-returned-the">sparking widespread discussion</a>.
What Happened: On Friday, Musk responded to a post on X by Trump criticizing the Democratic meeting that ended on Thursday.
Trump claimed the Democrats plan to &#8220;destroy our Country with Radical Left, Marxist/Socialist Policies&#8221; after the election. Musk simply responded, &#8220;True.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">True
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827030472175522230?ref_src=twsrc%5Etfw">August 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This brief interaction has drawn attention due to Musk&#8217;s influence in the tech industry and his previous interactions with political figures.
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Why It Matters: Musk&#8217;s agreement with Trump&#8217;s statement is significant as it provides insight into his political views. His influence and reach could potentially sway public opinion, making his political leanings a topic of interest.
However, without any additional context or explanation from Musk, it&#8217;s unclear exactly what aspects of Trump&#8217;s tweet he agrees with. This leaves room for interpretation and further discussion.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Elon Musk Signs On To Donald Trump's Criticism Of 'Radical Left' Democratic Convention

As real estate investors<a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39614880/now-owning-a-house-in-us-is-more-challenging-than-ever-as-affordability-drops-to-"> contend with high-interest debt and soaring prices</a>, some are turning their attention to often-overlooked metro areas in search of higher returns. Nick Gerli, CEO of Reventure Consulting, has identified five markets where investors can potentially find the most attractive capitalization rates ("cap rates") in the current environment.
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&#8220;These are markets where investors can still cash flow in 2024, even with today&#8217;s interest rates,&#8221; Gerli wrote on X (formerly Twitter).
According to Gerli, Jackson, Mississippi, tops the list with an 8.5% cap rate. New Orleans follows at 7.8%, while Columbia, South Carolina (7.1%), Pittsburgh (7.0%), and El Paso, Texas (6.9%) round out the top five.
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Cap rates, a key metric in commercial real estate, represent the ratio of a property&#8217;s net operating income to its market value. Higher cap rates generally indicate greater potential returns but often involve increased risk.
&#8220;High cap rate markets are a potentially good place to invest in 2024, as they return more cash flow from Day One and rely less on long-term appreciation,&#8221; Gerli noted.
The focus on immediate cash flow could prove attractive to investors wary of speculating on future price appreciation in an uncertain economic climate. By contrast, Gerli pointed out that many markets in California, Washington, and the Mountain West offer cap rates below 4%, a figure some investors might find uninspiring given current borrowing costs, as they may not provide sufficient returns to offset higher borrowing costs.
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However, real estate professionals caution that cap rates alone don&#8217;t tell the whole story. &#8220;When looking at cap rates, it&#8217;s critical to analyze like-kind comparables, such as property type, location, income/expense, quality/condition, and durability,&#8221; explains a JPMorgan report issued earlier this year on the metric.
The report also notes that factors like local economic conditions, property-specific characteristics, and broader macroeconomic trends can all influence an investment&#8217;s true risk-return profile.
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Using Dallas as an example, Gerli&#8217;s analysis illustrated how cap rates can vary within a single metro area. While high-priced suburbs north of downtown offer cap rates of just 1-2%, more transitional neighborhoods boast rates of 6-7% to the south.
&#8220;If you&#8217;re an investor, understanding the rental and cap rate trends in your city is Paramount to making good investment decisions,&#8221; Gerli advised.
As the Federal Reserve signals interest rate cuts in 2024, investors may want to see how cap rates across various markets respond. Lower borrowing costs could compress cap rates in some areas, potentially changing the landscape of investment opportunities. For now, cities like Jackson and New Orleans are enjoying their moment in the spotlight as potential havens for <a href="https://www.benzinga.com/markets/24/08/40480372/wall-streets-most-accurate-analysts-weigh-in-on-3-real-estate-stocks-with-over-5-dividend-yields">yield-hungry real estate investors</a>.&nbsp;
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Real Estate

Real Estate Executive Says These 5 Markets Are Where Investors Can Get The Highest Returns

The Royal Society is reportedly under pressure to expel <a href="https://www.benzinga.com/topic/elon-musk" target="_blank" rel="noreferrer noopener">Elon Musk</a> from its fellowship amid concerns over his controversial statements and potential impact on the institution&#8217;s reputation.
Elected as a fellow of the UK&#8217;s Royal Society in 2018 for his contributions to space and electric vehicle industries, Elon Musk, owner of the social media platform X, is often compared to the influential engineer Isambard Kingdom Brunel, <a target="_blank" href="https://www.theguardian.com/technology/article/2024/aug/23/royal-society-facing-calls-to-expel-elon-musk-amid-concerns-about-conduct" rel="noreferrer noopener">reported</a> The Guardian.
Musk co-founded SpaceX, known for its breakthroughs in reusable rocket technology, and is also the CEO and co-founder of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), a leader in sustainable energy innovation.
However, several Royal Society fellows have proposed the potential revocation of Musk&#8217;s fellowship in letters to the institution, The Guardian added.
One fellow cited Musk&#8217;s inflammatory remarks, including his reaction to recent UK riots, as reasons for concern that he might tarnish the institution&#8217;s reputation.
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Musk&#8217;s tweets on unrest have faced backlash: Downing Street condemned his &#8220;civil war is inevitable&#8221; remark on Liverpool riots, and he shared a fake news story about Keir Starmer and emergency detainment camps, later deleted.
He also pushed a conspiracy theory alleging UK police unfairly target white far-right protesters the report read.
There are concerns that removing Musk might need to focus on his potential to amplify harmful beliefs, rather than his personal views.
Expelling a fellow from the Royal Society would be unprecedented, with no expulsions reported in over 150 years, the report read.
However, there have been controversies; for example, in 2008, Prof. Michael Reiss resigned as director of education following remarks about teaching creationism in schools.
The Royal Society spokesperson told The Guardian, &#8220;Any issues raised in respect of individual fellows are dealt with in confidence.&#8221;
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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TSLA

Royal Society May Consider Expelling Elon Musk: Has He Gone Too Far?

Jim Cramer, the host of CNBC&#8217;s Mad Money, recently caused a buzz on Twitter by strongly defending Home Depot. In his tweet, Cramer targeted those who sold their shares in the company, praising what he called Home Depot&#8217;s &#8220;winning culture&#8221; and suggesting that it would thrive if the <a href="https://www.benzinga.com/top-stories/24/08/40492530/fed-minutes-reveal-plausible-case-for-interest-rate-cut-as-policymakers-cheer-inflation-progress">Federal Reserve cuts interest rates</a>.&nbsp;
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So, what exactly did he say, then? He said, &#8220;Attention idiots who sold Home Depot. Have you ever been to one? This is a winning culture now and will do great with a rate cut.&#8221;&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Attention idiots who sold Home Depot. Have you ever been to one? This is a winning culture now and will do great with a rate cut..
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1823359460011561024?ref_src=twsrc%5Etfw">August 13, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Despite Cramer&#8217;s enthusiasm, many of his Twitter followers quickly pointed out their less-than-ideal experiences with Home Depot. One user commented, &#8220;Yes I have been to one. It's staffed by fast food workers who don't know how to use or do anything, and when you order online they have absolutely no problem selling you something that doesn't exist in their inventory.&#8221; Another added, &#8220;Why do you call people who take profits &#8220;idiots&#8221;?&#8221;
Nevertheless, Home Depot has long been a leader in the home improvement retail sector. Cramer views its ability to thrive during tough economic times as a testament to its strong operational culture. His optimism likely stems from the company's history of weathering economic downturns by capitalizing on trends like increased home renovation when buying new homes slows down.
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However, Cramer's tweet sparked backlash due to his history of controversial stock picks. During the dot-com bubble, Cramer aggressively <a href="https://www.benzinga.com/startups/24/07/39963188/to-no-ones-surprise-jim-cramer-praised-crowdstrike-less-than-two-months-ago-i-dont-think-that-domino">endorsed tech stocks</a> that eventually plummeted, causing massive losses for followers. In 2008, he encouraged holding onto Bear Stearns stock just days before the company's collapse, drawing widespread criticism.
Given this history, it&#8217;s no surprise that some Twitter users reacted to his inflammatory tweet by suggesting the opposite of Cramer's advice, such as shorting Home Depot stock or buying put options. Creating an Inverse Cramer ETF – designed to profit by doing the opposite of Cramer's stock picks – also reflects many&#8217;s skepticism toward his recommendations​.
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While Cramer is upbeat about Home Depot, the mixed reactions to his tweet show that many investors are being careful. Home Depot is a solid company with a lot of loyal customers, but bigger issues like high interest rates and inflation <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40349028/home-depot-sales-fall-short-as-consumers-become-increasingly-cautious-analyst">are hard to ignore</a>. Whether Home Depot will do as well as Cramer thinks depends a lot on things the company can't control, like what the Federal Reserve does and how comfortable people feel about spending money right now.
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Jim Cramer: 'Attention Idiots Who Sold Home Depot. Have You Ever Been To One?' Calls It A 'Winning Culture' But Gets Backlash From Followers

A New York appeals court is set to hear arguments on Sept. 26 regarding Donald Trump&#8217;s appeal of the <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">$454 million civil judgment against him</a>.
With the hearing scheduled so close to Election Day, a final decision may not be reached until after the elections, <a target="_blank" href="https://edition.cnn.com/2024/08/21/politics/new-york-trump-civil-fraud-oral-arguments-scheduled/index.html" rel="noreferrer noopener">reported</a> CNN.
Trump is challenging Judge Arthur Engoron&#8216;s ruling, which found him liable for fraud and imposed a $354 million penalty, plus over $100 million in interest. The former president argues that the judgment is unconstitutional, that no real harm occurred, and that the case should be dismissed due to the age of the alleged conduct.
In April, Trump posted a $175 million bond after the appeals court reduced the amount, temporarily halting any actions by New York Attorney General Letitia James to seize his properties or bank accounts.
On Wednesday night, the Attorney General&#8217;s office urged the appeals court to uphold Engoron&#8217;s verdict, which also implicated Trump&#8217;s adult sons and other associates in the fraud case. The AG&#8217;s office argued there is &#8220;overwhelming evidence&#8221; that Trump inflated property values on financial statements to secure loans.
The filing from the Attorney General&#8217;s office criticized Trump&#8217;s appeal for lacking a thorough discussion of the deceptive practices used to inflate asset values. Instead, they claimed the appeal focuses on weak legal arguments and is contrary to established law.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40541344/scaramucci-blown-away-by-kamala-harris-dnc-speech-questions-whether-trump-is-american-putin-with-his" rel="noreferrer noopener">Scaramucci Blown Away By Kamala Harris&#8217; DNC Speech, Questions Whether Trump Is &#8216;American Putin&#8217; With His Divisive Approach</a>
&#8220;Supreme Court&#8217;s liability determinations are supported by overwhelming evidence that, in each Statement, defendants used a variety of deceptive strategies to vastly misrepresent the values of Mr. Trump&#8217;s assets,&#8221; the AG&#8217;s office stated.
Trump&#8217;s legal team counters that the AG failed to prove lenders relied on these misrepresentations and that no financial losses resulted from the alleged fraud. They also argued that the judgment includes loans beyond the statute of limitations and improperly counts profits from property sales.
The Attorney General&#8217;s office defended the initial judgment as a &#8220;reasonable estimate&#8221; of the gains Trump obtained through fraud. They also pointed to Trump&#8217;s Florida estate, Mar-A-Lago, as an example of the inflated valuations in his financial statements, which was supported by the judge&#8217;s findings.
As the legal battle continues, it remains to be seen how the court will rule and how this case might impact the upcoming elections.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Trump's $454M Civil Judgment Appeal Heads To Court: Decision Unlikely Before Election Day

Imagine flying anywhere in the world for free, anytime you want, and taking someone with you. Sounds like a dream, right? This dream became a reality for Mark Cuban when he purchased an American Airlines lifetime Airpass for $125,000 at just 29 years old.&nbsp;
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The pass allowed him and a companion to fly first-class anywhere, anytime, for life. But that's not all – if the flight were full, someone else would have to be removed to accommodate Cuban. One day, that "someone else" happened to be basketball legend Magic Johnson.
Cuban shared the unbelievable story in a 2013 <a href="https://youtu.be/nI48etFKABY?si=LRL0SyDUFaJSfBL1">interview</a> on The Howard Stern Show. He lived a high life after <a href="https://www.benzinga.com/personal-finance/24/06/39440861/mark-cuban-began-his-millions-selling-garbage-bags-for-6-the-worlds-first-garbage-bag-door-to-do">selling his first company, MicroSolutions</a>, for $6 million. He had just purchased the Airpass on a whim after a night of celebration. This pass was a golden key to spontaneity for Cuban: &#8220;I would walk into clubs, and I&#8217;d be, you know, talking to some girl, and I&#8217;m like, let&#8217;s just go to Vegas. I was having fun.&#8221;&nbsp;
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He also recalled how he once casually decided to go to Barcelona for his 30th birthday just because a friend suggested it. There was no planning, no booking – just walking up to the airport and flying away.
During one flight, the airline needed to make room for Cuban and his companion, and the unlucky person booted off the plane was none other than Magic Johnson. According to Cuban, Johnson had no idea why he was being bumped and likely didn&#8217;t realize it was because of Cuban's Airpass– &#8220;I&#8217;ve said it to him, but he doesn&#8217;t remember,&#8221; Cuban reflected later when talking to Johnson.
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Although American Airlines eventually realized selling these passes was a financial disaster and discontinued the program, Cuban's lifetime pass, which he later transferred to his dad, is a testament to the crazy, once-in-a-lifetime deals that were possible back then.&nbsp;
Today, with rising fuel costs and tightened airline budgets, the idea of such a pass seems almost too good to be true. But for Cuban, it was a reality that paid off in unforgettable experiences – and some very awkward moments for Magic Johnson.
Mark Cuban wasn't just savvy in the skies; <a href="https://www.benzinga.com/startups/24/08/40423294/heres-how-mark-cuban-protected-his-1-4-billion-fortune-from-the-2000-dot-com-crash-one-of-the-top-10">he was also a trailblazer in the digital world</a>. In the late 1990s, he and his business partner, Todd Wagner, founded Broadcast.com, a company that pioneered online streaming long before it became the norm. Their foresight paid off handsomely when Yahoo acquired Broadcast.com for an astounding $5.7 billion in stock in 1999, instantly making Cuban a billionaire.
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For $125,000, Mark Cuban Could Remove Anyone From A Flight. Magic Johnson Found Out The Hard Way

Leaked Microsoft Corp. pay data shows a substantial disparity in favor of AI engineers, underlining the company&#8217;s significant investment in AI.
What Happened: Several Microsoft employees voluntarily disclosed their salary and promotion details through an unofficial spreadsheet. This document, which includes over 500 entries, offers a glimpse into the tech giant&#8217;s compensation structure.
The data analysis indicated that the average total compensation for software engineers in Microsoft&#8217;s newly formed AI organization was $377,611, a figure that&#8217;s at least $120,000 higher than the averages in other Microsoft divisions. 
This team was established in March to enhance Microsoft&#8217;s consumer-AI strategy, under the leadership of DeepMind co-founder Mustafa Suleyman.
Despite a company-wide salary freeze and a decrease in bonus and stock award budget last year, Microsoft resumed performance-based pay raises this year. 
Also Read: <a href="https://www.benzinga.com/news/24/08/40429632/book-bill-gates-leadership-instills-fear-created-kings-court-like-atmosphere-at-foundation">Bill Gates&#8217; Leadership Instills Fear, Created &#8216;King&#8217;s Court-Like&#8217; Atmosphere At Foundation</a>
The pay gap between Microsoft&#8217;s AI division and the rest of the company is clear, emphasizing the company&#8217;s significant commitment to AI.
While the data is based on self-reporting by Microsoft employees and may not provide a comprehensive view, it does underscore the pay disparity within the company.
Why It Matters: The pay gap underscores Microsoft&#8217;s strategic focus on AI. The company&#8217;s significant investment in AI is a part of its long-term strategy to stay competitive in the rapidly evolving tech industry. 
The formation of a new AI division and the hiring of high-profile AI experts like DeepMind co-founder Mustafa Suleyman further highlights this focus. 
The pay disparity is a clear indication of the value Microsoft places on AI expertise, reflecting the growing importance of AI in the tech industry.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Leaked Data: Huge Pay Gap In Favor Of AI Engineers At Microsoft

The Massachusetts Cannabis Social Equity Trust Fund, designed to aid entrepreneurs from communities most affected by prohibition, now boasts over $27 million. 
By February 2024, the fund had received its first full annual transfer of $27.4 million, largely supporting businesses through grants ranging from $20,000 to $50,000. 
A <a href="https://www.wbjournal.com/article/states-cannabis-equity-fund-eclipses-27m">second round </a>of funding is being developed, aiming to expand eligibility and offer enhanced support for operational and capital needs.
<h3 class="wp-block-heading">Federal Marijuana Reform On The Horizon?</h3>
With the upcoming U.S. presidential election, speculation around cannabis reform is intensifying. VP and presidential candidate Kamala Harris, a <a href="https://www.benzinga.com/markets/cannabis/24/08/40472750/harris-and-walz-push-pro-cannabis-agenda-in-new-democratic-platform-for-2024">proponent of cannabis legalization</a>, is seen by some lawmakers as likely to advance marijuana reform bills if elected. 
Senators and representatives from key states say a Harris-Walz administration would embolden further state-level legalization efforts.
However, skepticism remains about the potential for federal change, especially if former President Trump, with his mixed track record on cannabis, prevails.
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
"I think she'll be very supportive" of cannabis reform, Sen. Jeff Merkley (D-OR), sponsor of a bipartisan marijuana banking bill, <a href="https://www.marijuanamoment.net/senator-says-harris-will-be-ready-to-sign-marijuana-reform-bills-if-elected-president/">told </a>Marijuana Moment. "If we can get these bills through, she'll be ready to sign them."
<h3 class="wp-block-heading">Sacramento And Nebraska Hit Pause On Cannabis And Hemp Measures</h3>
In Sacramento, a proposal to increase the number of cannabis dispensaries by 50% has been halted due to concerns about market saturation. The <a href="https://www.capradio.org/articles/2024/08/21/sacramento-puts-on-hold-proposal-to-allow-more-cannabis-dispensaries/">city council&#8217;s law </a>and legislation committee advised expanding zoning options before greenlighting more dispensaries.&nbsp;
Meanwhile, in Nebraska, lawmakers removed a proposed tax levy on hemp and CBD products from a property tax relief bill, offering a reprieve to the state's growing hemp industry.
 This <a href="https://nebraskaexaminer.com/2024/08/20/legislature-passes-slimmed-down-property-tax-relief-package-ends-nebraskas-special-session/">decision </a>comes as part of broader efforts to tackle property tax challenges, with Governor Jim Pillen (R) advocating for deeper cuts despite <a href="https://nebraskaexaminer.com/2024/08/14/nebraska-lawmakers-advance-absolute-minimum-property-tax-package-after-months-of-buildup/">limited legislative progress</a>. 
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<a href="https://www.benzinga.com/markets/cannabis/24/08/40486924/ken-griffins-12m-donation-and-desantiss-anti-cannabis-pacs-face-off-against-pro-legalization-gro">Ken Griffin&#8217;s $12M Donation And DeSantis&#8217;s Anti-Cannabis PACs Face Off Against Pro-Legalization Group&#8217;s $72M War Chest</a>

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Social Equity In Cannabis Gets $27M Boost In MA, But Will Federal Changes Leave Some Behind?

Direxion, a prominent provider of tradeable and thematic ETFs, has announced the launch of two innovative funds: the Direxion Daily Crypto Industry Bull 2X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMBO#NYSE">LMBO</a>) and the Direxion Daily Crypto Industry Bear 1X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REKT#NYSE">REKT</a>). These funds offer traders opportunities to capitalize on the crypto industry&#8217;s rapid growth or hedge <a href="https://www.benzinga.com/crypto">against potential downturns</a>.



<h2 class="wp-block-heading">Leveraged Exposure To Crypto Industry</h2>



LMBO and REKT are designed to provide exposure to 200% and -100% of the daily performance of the Solactive Distributed Ledger &amp; Decentralized Payment Tech Index, respectively. This index tracks the performance of U.S.-listed companies engaged in blockchain technology, non-fungible tokens, decentralized finance, and digital asset mining hardware.



"Crypto equities are among the fastest-growing companies in the world, now representing an almost $3 trillion asset class," said Direxion Managing Director Edward Egilinsky. "LMBO and REKT provide focused exposure for traders to express their short-term conviction on companies building the future of a crypto-driven, decentralized economy."



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39804019/bitcoin-ethereum-dogecoin-continue-collecting-gains-if-history-repeats-septemberoctober-wi">Bitcoin, Ethereum, Dogecoin Continue Collecting Gains: &#8216;If History Repeats, September/October Will Be Explosive,&#8217; Says Expert</a>



<h2 class="wp-block-heading">Tools To Put Your Crypto Strategy At Play</h2>



The introduction of these ETFs comes at a time when the global market landscape is rapidly evolving. The crypto industry continues to show promising growth, and Direxion aims to equip traders with timely tools to navigate the shifting dynamics of the financial markets.



LMBO and REKT offer unique opportunities for traders to align their strategies with the crypto sector&#8217;s performance. With LMBO, bullish traders can amplify their gains from the sector&#8217;s upswings, while REKT allows bearish traders to benefit from market corrections. This dual offering provides flexibility and precision in managing investments in an industry known for its volatility and rapid innovation.



As the crypto industry progresses, Direxion offers products that meet the needs of modern traders. Leveraged crypto ETFs, LMBO and REKT, underscore this commitment, providing powerful vehicles for those looking to engage with the future of digital finance.



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Direxion Shares ETF Trust Direxion Daily Crypto Industry Bull 2X Shares

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Wednesday, July 17, 2024