Saturday, April 12, 2025

Good Morning! On this day in 1861, the Civil War officially began when Confederate forces, led by Brig. Gen. P.G.T. Beauregard, attacked Fort Sumter in South Carolina, forcing Union Maj. Robert Anderson to surrender the next day.

As many of our readers well know, wide swaths of the South were inundated with rain this week. How wet was it? Take a look at this video in today's Et Cetera section, showing a man surfing down an Interstate highway in Arkansas.

We're sponsored today by World Concern, a nonprofit offering an opportunity to help earthquake victims in Myanmar.

U.S-Iran Negotiations Begin in Oman

U.S. negotiators are scheduled to begin direct talks with Iran today, with President Trump saying there'll be "all hell to pay" if Iran doesn't abandon its nuclear program.

U.S. negotiator Steve Witcoff will meet with an Iranian delegation in Oman today, led by Iran's foreign minister. Iran said it was open to negotiations despite U.S. threats and opposition from hard-liners in its own government.

At the same time, the U.S. is moving Patriot missile defense systems to the Middle East to protect key U.S. bases and partners in the region and give more leverage for the talks with Tehran.

Stocks Rise, Capping Wild Wall Street Week

Stocks rebounded Friday, with the Dow rising 600 points, capping a volatile week on Wall Street with soaring highs alternating with steep drops in step with ongoing tariff negotiations.

On Friday, China announced it was raising retaliatory tariffs on some U.S. exports to 125%, but markets rose on comments from the White House that President Trump is "optimistic" China will seek a deal with the U.S.

At the same time, long-term U.S. Treasury yields soared this week, with the 30-year yield jumping to near 4.88%—its highest level since January and the steepest weekly rise since 1982. The rise signals a move by investors to sell off their Treasury bonds.

List: Home Price Growth in Every State

U.S. housing prices rose 4.5% from Q4 2023 to Q4 2024, with Connecticut, New Jersey, and Wyoming each leading the nation with an 8.3% increase, according to a new report.

Using data from repeat sales and refinancing of single-family homes, the Federal Housing Finance Agency found the housing market resilient, outpacing GDP (2.5%) and inflation (2.9%) in most states.

Home prices were driven up by limited inventory—still well below pre-pandemic levels—particularly in fast-growing states with higher incomes that can absorb rising housing costs.

Mississippi was the only state where home prices declined, amid flat population growth from 2023 to 2024 and a rise in housing inventory. See the full state-by-state report here.

➤ The Pentagon removed the chief of the US military base in Greenland after she sent an email distancing herself from Vice-President JD Vance's criticism of Denmark, stating Vance's remarks were "not reflective" of the base. (See Details)

➤ The Senate early Friday morning voted 60-25 to confirm retired Lt. Gen. Dan "Razin" Caine to be chairman of the Joint Chiefs of Staff, despite opposition from some Democrats angry about President Trump's firing of his predecessor. (More)

➤ An immigration judge in Louisiana ruled Friday that anti-Israel Columbia University graduate student Mahmoud Khalil can be kicked out of the U.S. as a national security risk. Khalil's lawyers say they will appeal. (See Details)

➤ President Trump went to Walter Reed Medical Center on Friday for his annual physical, declaring "that he's never felt better." This is his first physical since he took office in January. (More)

Flying together with our sponsor

It's fallen out of the news cycle, but we know you won't forget these families.

A devastating 7.7-magnitude earthquake struck Myanmar and Southeast Asia, leaving behind devastation, death, and despair. Homes have crumbled, families are displaced, and critical infrastructure has collapsed. At this moment, there are more than 3,000 reported dead, and aid groups have described the damage and needs as "staggering."

Send Aid Now

➤ Justin Rose, at 8 under par, held a one-stroke lead over Bryson DeChambeau at the end of Friday's second round of the Masters, followed by Rory McIlroy at 6 under and Scottie Scheffler at 5 under. (More)

➤ The Cleveland Browns signed quarterback Joe Flacco to a one-year, $4 million contract, returning Flacco to the team where he won the NFL's Comeback Player of the Year award in 2023. (More)

➤ The NCAA's Power Four conferences' commissioners met with Congress members on Capitol Hill to discuss regulations on name, image, and likeness payments. (More)

➤ Memphis Grizzlies star guard Ja Morant debuted a new celebration where he appears to be throwing a hand grenade after being fined repeatedly by the NBA for gun-related celebrations. Morant was suspended back in 2023 for an incident involving an actual weapon. (See celebration)

➤ Yesterday's results: Masters | MLB | NBA | NHL | NCAABB | NCAASB | Soccer

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Daily Market Report 04/11/2025

▲	NASDAQ National Association of Securities Dealers Automated Quotations	16,724.46	2.06%
▲	SPX S&P 500	5,363.36	1.81%
▲	DJI Dow Jones Industrial Average	40,212.71	1.56%
▲	BTC Bitcoin	$83,907.25	5.38%
▲	GOLD Per Ounce	$3,252.00	3.07%

Bitcoin and Gold are traded 24 hours a day.

Flying together with our sponsor

Families in Myanmar need emergency medical treatment, food, water, and vital services. This week, World Concern is preparing to deliver medicine and care supplies to 3,000 people in Southern Shan and Mandalay. Staff and volunteers are packing clean delivery kits, newborn care supplies, and shelter items to reach another 3,000 individuals and 500 households.

Your gift today supports this effort and provides:
· Emergency medical care, medicines, and vaccinations
· Safe water, hygiene kits, and sanitation services
· Emergency shelter and essential supplies for displaced families

Every moment counts—and every gift helps. Thank you for standing with the people of Myanmar in this time of urgent need.

Send Aid Now

Today's section is brought to you by:

➤ European countries vowed Friday to send billions of dollars in military support to help Ukraine in its war with Russia. (More)

➤ Argentine workers launched a widespread 24-hour strike in protest against government austerity measures, cutting off transportation and garbage services and shutting down ports. (More)

➤ The British Parliament will be recalled today to pass an emergency law allowing the government to take control of the failing British Steel plant in Scunthorpe and save 2,700 jobs. (More)

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➤ A surfer took advantage of massive flooding in Arkansas to take a wild surfboard ride on I-57 as honking trucks passed him on the other side. (See Video)

➤ An unsecured penguin caused a helicopter to crash after the box carrying the flightless bird hit the pilot's controls. None of the passengers were injured, and the penguin emerged safely as well. (See Details)

➤ An Alaska woman set a new world record by being able to open her mouth to a nearly 3-inch gape, wide enough to fit six hamburger patties and a bun in her mouth at once. "(I've always) known I have a big mouth," she said. (See Video)

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➤ In 1918, this "miracle medicine" was in every household in America. But then it just... disappeared. To this day, it's not being taught in medical schools—or prescribed in major U.S. cancer centers. But the results of lab studies are impressive. See it here before corporate interests make it "disappear" again.

Did you have formal etiquette training?

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Daily Quote

"Iran cannot have a nuclear weapon, and if the talks aren't successful, I actually think it'll be a very bad day for Iran."

— President Trump on negotiations with Iran over development of its nuclear capability.