By John Kapetaneas
Morning Money Memo…
The president announced this morning that the United States has backed a $1 billion fund to fortify European security measurements, calling European security the “cornerstone of our security.” Speaking from Warsaw as part of his four day trip through Europe, the president will be looking to address growing concerns over Ukraine and the increasing tensions with Russia. The White House, meanwhile, is continuing to face increased pressure over the terms of American POW Bowe Bergdahl’s release. Many in Washington have come out against the decision to negotiate with the Taliban, calling the release of five high value Guantanamo prisoners too steep of a price and a danger to U.S. national security.
U.S. markets are beginning the trading day at record highs, but how long will it last? After both the Dow and S&P 500 closed out the day at their highest level yet, futures are pointing to a lower opening this morning on Wall Street.
Apple underwhelmed fans at the WWDC, many of whom were hoping for a wearable technology to make an appearance. But, even though an iWatch is not in the immediate future, the company delivered noticeable upgrades with its iOS8 improvements, which means saying goodbye to Autocorrect problems, and hello to the new Health and HomeKit apps.
Pressure will be coming down harder on the NFL now, as Hall of Fame quarterback Dan Marino joins the growing list of litigants in a multi-million dollar concussion lawsuit. The Miami Dolphins legend says that he was affected by hits to the head throughout his 17-year professional career, and that the NFL turned a “blind eye” to the issue. To date over 4,500 former players have sued the league for concussion related issues. The NFL agreed to a $765 million settlement back in August, only to have it rejected by a federal judge. Other Hall of Famers to bring up concussion suits include Eric Dickerson and Tony Dorsett.
What is, oh so close! Jeopardy wunderkind Julia Collins, holder of 20 straight victories, saw her epic winning streak come to a dramatic end last night. Julia bet it all on Final Jeopardy, guessing that Michael Chabon was the last Academy Award winner for their own novel. The answer, of course, was John Irving of “The Cider House Rules”, costing Julia the game and putting the kibosh on her hunt of Ken Jennings’s elusive 74-game winning streak. But don’t feel too bad for Julia. She’ll be getting a check for $428,100 for her efforts, which is not a bad months work in anybody’s book.