Saturday, February 22, 2025

Good Morning! On this day in 1980, the U.S. Olympic hockey team stunned the world by defeating the four-time defending gold medal-winning Soviet team, 4-3, at the Winter Games in Lake Placid, New York. This unforgettable moment is known as the "Miracle on Ice."

Sicily's Mount Etna is erupting and drawing tourists. Many are getting dangerously close to the lava, some even using it to cook lunch. Check out the story below about this unique travel destination.

We're sponsored today by Energous, offering an investment opportunity in groundbreaking wireless energy transmission technology.

AP Sues White House Over Gulf of America

The Associated Press filed a federal lawsuit Friday against three Trump administration staffers after being banned from the Oval Office for refusing to use the term "Gulf of America."

The lawsuit named White House deputy chief of staff Taylor Budowich, White House press secretary Karoline Leavitt, and White House chief of staff Susie Wiles, alleging AP reporters were denied access to Oval Office events and Air Force One, violating First Amendment rights.

The AP also claimed the White House violated its due process protections under the Fifth Amendment, asking the court to restore its access to spaces made available to other White House press pool members.

The White House has not responded, but earlier this week, President Trump said, "We're going to keep them out until such time as they agree that it's the Gulf of America."

Senate GOP Advances Budget Blueprint

The Republican-controlled Senate approved a $340 billion budget blueprint early Friday morning, increasing funding for President Trump's immigration enforcement, energy production, and military.

The Senate approved the budget resolution 52-48 just before 5 a.m. after a 10-hour, 33 amendment "vote-a-rama," with Sen. Rand Paul as the lone Republican joining all 47 Democrats in opposition.

The resolution allocates $150 billion for military spending and $175 billion for border security but excludes extending Trump-era tax cuts, which Senate Republicans plan to address separately.

Senate GOP members advanced their budget plan despite Trump's vocal support earlier this week for a competing "big, beautiful bill" from House Republicans.

Overdose Deaths Decrease

New data from the Centers for Disease Control revealed that the U.S. experienced a large decline in overdose deaths between 2022 and 2023, continuing into 2024, with deaths dropping 17% from July 2023 to July 2024.

Reported overdose deaths decreased in 20 states, increased in six states, and remained relatively unchanged in 24 states and the District of Columbia. Nationwide, drug overdose death rates dropped 4%. See the details of the report here.

Alabama, Alaska, California, Nevada, Oregon, and Washington were among the states with a significant increase. New Jersey, Michigan, Kansas, Louisiana, and Florida reported decreases. See the map here.

Officials were encouraged by the data, contributing the positive numbers to aggressive public health actions and improved access to life-saving treatments.

➤ A U.S. envoy led by retired Lt. Gen. Keith Kellogg met with Ukrainian officials this week, in what President Volodymyr Zelensky called a hopeful and positive dialogue. (More)

➤ In other Ukraine news, National Security Adviser Mike Waltz said Friday he expects Ukraine to sign a minerals agreement with the U.S. as part of efforts to end the war. (More)

➤ Los Angeles Mayor Karen Bass dismissed Fire Chief Kristin Crowley on Friday, citing the need for new leadership after reviewing her response to last month's most destructive wildfire in city history. (More)

➤ A federal judge indefinitely suspended New York City Mayor Eric Adams' criminal case Friday while reviewing the Justice Department's decision to drop the charges. (More)

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Goodbye Power Cord, Hello "IoT Innovation of the Year"

Nikola Tesla said powering the world without wires was of "all-surpassing importance." This technology wasn't possible in Tesla's time, but a company called Energous is making it a reality today.

Energous' patented technology is like Wi-Fi for power. It transmits power to devices through the air, eliminating the need for cables and batteries. This provides a constant, reliable energy source for IoT devices that track and deliver data in real-time. It's such a powerful innovation, it earned Energous "IoT Innovation of the Year" honors.

But their innovation could also be crucial to retail, manufacturing, and logistics operations, a combined $650B market. Data is the oil that keeps these companies running smoothly. And thanks to Energous' wireless power network transmitters, all of these industries could get a 24/7 flow of data without depending on batteries or cords.

That's why Energous already landed a contract to supply wireless power network solutions to a Fortune 10 multinational retailer, opening them up to 4,700 retail locations across the U.S.

Sounds like it's time to cut the cord and become an Energous shareholder as they work to empower businesses globally with their wireless power network solutions.

➤ The New York Yankees are amending their long-standing no facial hair policy to allow for "well-groomed beards." (More)

➤ The MLB has terminated its contract with ESPN to broadcast Sunday Night Baseball, concluding at the end of the 2025 season. MLB Commissioner Rob Manfred was reportedly displeased with the amount of coverage baseball got on ESPN's daily talk shows. (More)

➤ LeBron James became the first player in NBA history to achieve multiple 40-point performances after the age of 40 on Thursday night, leading the Los Angeles Lakers to a 110-102 win over the Portland Trailblazers. (More)

Today's White House section is brought to you by:

➤ A federal judge on Thursday allowed President Trump's push to shrink the federal workforce to proceed, rejecting labor unions' request to temporarily block his actions against government employees. (More)

➤ Consumer confidence dropped nearly 10% in President Trump's first month, falling from 71.7 in January to 64.7 in February, amid concerns over tariff hikes and inflation. (More)

➤ President Trump named Alice Johnson, a grandmother he granted clemency for drug offenses, as his "pardon czar" Thursday during a Black History Month event, pledging to consider her pardon recommendations. (More)

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Daily Market Report 02/21/2025

▼	NASDAQ National Association of Securities Dealers Automated Quotations	19,524.01	-2.20%
▼	SPX S&P 500	6,013.13	-1.71%
▼	DJI Dow Jones Industrial Average	43,428.02	-1.69%
▼	BTC Bitcoin	$95,063.23	-3.33%
▲	GOLD Per Ounce	$2,949.90	0.34%

Bitcoin and Gold are traded 24 hours a day.

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This Tech Is Helping Solve a $300B Retail Problem

Retailers lose $300B annually due to poor inventory management. It's largely because their data systems rely on manual updates or limited power for IoT devices like inventory trackers and sensors. That's just one of many large-scale problems that can be solved by Energous' wireless power solutions.

Think Wi-Fi, but for power supply—providing a constant, reliable energy source to IoT devices that track and deliver data in real time. They've already been named "IoT Innovation of the Year" and are partnering with a Fortune 10 retailer as we speak. Become an Energous shareholder as they work to power up to 4,700 retail locations across the US.

This is a paid advertisement for Energous' Regulation A offering. Please read the offering circular at invest.energous.com for additional information on the company and the risks factors to the offering.

➤ Israel confirmed Friday that Shiri Bibas was not among the remains of four hostages returned, including her two children, prompting Prime Minister Benjamin Netanyahu to vow retaliation against Hamas. (More)

➤ Also in Israel, authorities suspect terrorism after three empty buses exploded and two others failed to detonate in Tel Aviv on Thursday night; no casualties were reported. (More)

➤ Germany will hold parliamentary elections Sunday to decide its leadership for the next four years, with mainstream conservative candidate Friedrich Merz leading in preelection polls. (More)

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➤ Sicilian authorities have ordered tourists to stay away from Mount Etna's lava flows after several thrill seekers were injured or went missing following attempts to capture photos or perform risky stunts. (See Lava)

➤ A gas grill triggered an explosion at a Hawaiian resort Thursday, injuring seven people, including three critically, with one airlifted to a hospital. (See Explosion)

➤ Hooters, the casual dining chain known for its waitresses, is considering bankruptcy and restructuring due to reduced traffic and the closure of several of its 300 locations. (More)

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What is your daytime thermostat currently set at?

Yesterday's Results:

Do you still use a phone book?

Yes: 65%
No: 22%
It's been a long time: 13%

Daily Quote

"Someone roasted a sausage on a lava rock, and another guy I know brewed a coffee with an Italian coffee maker."

— Photojournalist Giuseppe Distefano on the questionable behavior of tourists since Mount Etna began erupting this month.