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Chinua Achebe’s Daughter Bags Harvard Medical School Award

~0.5 mins read

Maureen Achebe, daughter of the renowned novelist, late Chinua Achebe, has received the Brigham and Women’s Hospital 2024 Faculty Development and Diversity Awards.

The hospital notified Okam Achebe of her award in a letter dated July 2, according to a post shared by Chidi Achebe, her brother and chairman of African Integrated Development Enterprise Public Benefit Corporation (AIDE PBC).

Chidi stated that the hospital, a premier teaching hospital of Harvard Medical School based in Boston, Massachusetts, notified Maureen of her award in a letter dated July 2, 2024, which he also shared.

The Brigham and Women’s Hospital is a world-class academic medical centre based in Boston, Massachusetts, and a premier teaching hospital of Harvard Medical School.

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Investopedia

Labor Market Cooling Boosts Hopes That Federal Reserve Will Cut Rates

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The latest monthly U.S. employment report provided more evidence that the economy is cooling, boosting expectations that the Federal Reserve will cut its benchmark interest rate in the coming months.

The Bureau of Labor Statistics said Friday that U.S. employers added fewer jobs in June than the month before and that the unemployment rate rose to its highest level since late 2021.

The BLS also adjusted downward the jobs growth numbers for the previous two months, an indication that the Fed’s policy of high interest rates to slow economic activity and tame inflation is having its intended effect.

“Overall, (the) report is consistent with ongoing moderation in growth and inflation. Job gains are still not slowing as fast as consensus expectations, but the underlying pace is cooling," Nomura economists said in a report Friday.

Stocks gained and Treasury yields fell following the release of the jobs data, as optimism that the US central bank could start cutting its fed funds rate, which is currently at a 23-year high, rose.

Traders are pricing in a 77% chance that the Fed will cut the benchmark rate at the September meeting of the Federal Open Market Committee (FOMC), according to the CME Group’s FedWatch tool, which forecasts rate movements based on fed funds futures trading data. That compares with the 64% likelihood priced in a week ago.

“The June jobs report adds to evidence from other recent growth indicators that the Fed is likely sufficiently restrictive,” Deutsche Bank economists said Friday. “These data therefore boost prospects for a September rate cut, though that outcome requires continued evidence of moderating inflation over the coming months."

“We continue to expect ongoing disinflation to make the case for two rate cuts this year, in September and December," Nomura analysts wrote.

Fed officials have said that progress is being made in the fight against inflation, but have also said they need to see more data confirming that price pressures are under control.

"We want to be more confident that inflation is moving sustainably down toward (the Fed’s annual target of) 2% before we start the process of reducing how tight our policy is," Fed Chair Jerome Powell said last Tuesday during a panel discussion at a European Central Bank conference in Portugal.

The latest reading of the Fed’s preferred measure of inflation, the Personal Consumption Expenditures index, showed that inflation in the 12 months ending in May slowed to 2.6%.

Fed officials are leery of moving too quickly to cut rates and run the risk of reigniting inflation. At the same time, they are watching labor trends closely to ensure that the high rates aren’t causing damage. The Fed has a dual mandate to keep prices stable and to promote maximum employment.

“We have to balance the two, and given the strength in the economy, we can approach that carefully,” Powell said last week.

Powell is scheduled to address the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday, where he’ll give an overview of current economic conditions.

Lawmakers will likely press Powell on the impact that high interest rates are having on the economy and about the timetable for cutting the fed funds rate, which affects costs on everything from mortgages to student loans.

Later in the week, the first official readings on inflation in June will be released.

The Consumer Price Index report, due Thursday, is expected to show that annual inflation moderated in June to 3.1% from 3.3% the month before, according to economists surveyed by and . The Producer Price Index, to be released Friday, will give a view of inflation at the wholesale level.

“In his comments last week, Powell reiterated a number of points from the June FOMC meeting but skewed dovishly at times by suggesting the disinflation trend has resumed and that policy is restrictive," Deutsche Bank said in its report. “Importantly, his testimony will come before the June CPI release, which will be more important for determining whether the Fed will cut rates before the election.”

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Picture Of The 62-year-old Man Who D3filed His 3-year-old Daughter In Anambra State.

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A 60-year-old father in Anambra State has been called out for repeatedly defiling his 3-year-old daughter.

This disturbing incident has sparked outrage and condemnation from the community and beyond.

The case has likely drawn the attention of law enforcement and child protection agencies, who will investigate and pursue justice for the victim.

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Investopedia

S&P 500 Gains And Losses Today: Meta Soars As Investors Hit 'Like' On AI Progress

~2.2 mins read

Major U.S. equities indexes pushed higher to close the shortened trading week after the Independence Day holiday.

Friday's gains came after the June jobs report showed a cooldown in the pace of hiring and an uptick in the unemployment rate, lifting expectations that the Federal Reserve could move to cut interest rates in the coming months.

The S&P 500 added 0.5% to notch an all-time closing high for the third straight session. A jump of 0.9% lifted the Nasdaq to another record close. After trading in negative territory for much of the session, the Dow advanced in the afternoon to close 0.2% higher.

Shares of Facebook and Instagram parent Meta Platforms (META) soared 5.9%, marking Friday's top performance in the S&P 500 and posting the stock's highest-ever close. The gains came amid optimism that Meta's massive investments in artificial intelligence (AI) technology could be starting to flow through into revenue gains, with analysts at Bernstein recently indicating that AI-driven algorithms are increasing the time spent by users in Meta's apps.

Shares of Baxter International (BAX) gained 5.3% following reports that the health care technology firm is negotiating a potential sale of its kidney care spinoff Vantive to private equity firm Carlyle Group (CG). Sources reportedly said that the companies had entered exclusive talks surrounding a deal worth $4 billion, including debt.

Increasing AI optimism helped boost shares of semiconductor manufacturer Advanced Micro Devices (AMD), which gained 4.9%. AMD is poised to ramp up shipments of its latest generation of graphics processing units (GPUs) that are optimized for generative AI applications, and analysts anticipate new AI-related product launches in the second half of the year.

Southwest Airlines (LUV) shares fell 5.7%, marking the widest losses of any S&P 500 component on Friday. The company earlier this week adopted a "poison pill" shareholder rights plan aimed at preventing activist investor Elliott Investment Management from acquiring more shares. The activist firm has called for a leadership shakeup.

First Solar (FSLR) shares sank 3.9% to wrap up a volatile week of trading for the solar technology firm. The stock fell on Tuesday after analysts at Baird trimmed their price target on updated cost and pricing expectations, then recovered strongly in Wednesday's abbreviated session. First Solar has drawn attention on the prospect of helping power demand from AI data centers, but it faces uncertainties related to the upcoming presidential election and the future of U.S. clean energy policies.

Shares of computer memory and data storage provider Micron Technology (MU) slid 3.8%. The stock has also benefited from AI-related optimism, but Micron issued soft revenue guidance when it reported its quarterly earnings last week, raising questions about its growth trajectory.

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What to know about this new study

A new study appears to deliver resounding yes: eating ultra-processed foods is linked to a greater risk of cognitive impairment and strokes.

This well-designed observational study examined data from the REGARDS (REasons for Geographic And Racial Differences in Stroke) project, a longitudinal study of non-Hispanic Black and white Americans ages 45 years and older. Study participants were initially enrolled between 2003 and 2007 and were given a number of questionnaires evaluating health, diet, exercise, body mass index, education, income, alcohol use, mood, and other factors. In addition, tests of memory and language were administered at regular intervals.

To examine the risk of stroke and cognitive impairment, data from 20,243 and 14,175 participants, respectively, were found usable based on the quality of the information from the questionnaires and tests. Approximately one-third of the sample identified as Black and the majority of the remaining two-thirds identified as white.

The results of the study

According to the authors' analysis, increasing the intake of ultra-processed foods by just 10% was associated with a significantly greater risk of cognitive impairment and stroke.

Intake of unprocessed or minimally processed foods was associated with a lower risk of cognitive impairment.

The effect of ultra-processed foods on stroke risk was greater for individuals who identified as Black compared to individuals who identified as white.

Study participants who reported following a healthy diet (like a Mediterranean, DASH, or MIND diet) and consumed minimal ultra-processed foods appeared to maintain better brain health compared to those who followed similar healthy diets but had more ultra-processed foods.

Why might ultra-processed foods be bad for your brain?

Here are some biologically plausible reasons:

UPFs are generally composed of processed carbohydrates that are very quickly broken down into simple sugars, equivalent to eating lots of candy. These sugar loads cause spikes of insulin, which can alter normal brain cell function.

Eating ultra-processed foods is associated with a higher risk of metabolic syndrome and obesity, well-established conditions linked to high blood pressure, abnormal blood lipid levels, and type 2 diabetes.

There are unhealthy additives in ultra-processed foods to change the texture, color, sweetness, or flavor. These additives disrupt the microbiome in the gut and can lead to gut inflammation that can cause

the production of microbiome-produced metabolites that can affect brain function (such as short-chain fatty acids and lipopolysaccharides)

leaky gut, allowing toxins and inflammatory molecules to enter the bloodstream and go to the brain

altered neurotransmitter function (such as serotonin) that can impact mood and cognition directly

increased cortisol levels that mimic being under chronic stress, which can directly impact hippocampal and frontal lobe function, affecting memory and executive function performance, respectively

an increased risk for Alzheimer's, Parkinson's, and other neurodegenerative diseases due to inflammatory molecules traveling from the gut to the brain.

Because ultra-processed foods have poor nutritional value, people will often be hungry shortly after eating them, leading to overeating and its consequences.

The take-home message

Avoid processed foods, which can include chips and other snack foods, industrial breads and pastries, packaged sweets and candy, sugar-sweetened and diet sodas, instant noodles and soups, ready-to-eat meals and frozen dinners, and processed meats such as hot dogs and bologna. Eat unprocessed or minimally processed foods, which — when combined with a healthy Mediterranean menu of foods — include fish, olive oil, avocados, whole fruits and vegetables, nuts and beans, and whole grains.

Source: Harvard Health Publishing

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