Saturday, October 26, 2024

Good Morning! On this day in 1825, the Erie Canal opened, connecting the Great Lakes to the Atlantic Ocean via the Hudson River. The canal's economic impact was immediate, with toll revenues fully repaying construction costs by 1834.

Today’s edition of The Flyover dives into the Halloween spirit, naming the most Halloween-obsessed state and sharing the eerie tale of a bat that followed a German woman home.

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Israel Attacks Iran

Israeli officials confirmed last night that their air force bombed military targets near Tehran in response to Iranian missile strikes.

140 Israeli planes targeted missile production facilities near Tehran, along with Iranian air defense systems, drones, and ballistic missile transmitters.

"We're targeting things that might have threatened us in the past or could do in the future," an Israeli spokesman said.

An Israeli news outlet has also claimed that the Iranian Revolutionary Guard Corps was hit by the air strikes.

U.S. officials said they were notified hours before the attack and that no U.S. forces were involved.

Virginia Ordered to Restore Noncitizen Voters

A federal judge ruled Friday that Virginia improperly purged 1,600 noncitizen voters from its rolls too close to Election Day, granting an injunction requested by the Justice Department.

Virginia passed a law in 2006 that allows the state to use DMV data to remove voters unable to verify their citizenship—a law approved of by the DOJ and used by both parties since.

On Oct. 11th, however, the Justice Department filed a suit that claimed Virginia was violating a provision of the National Voter Registration Act by removing names within 90 days of an election.

Virginia Gov. Glenn Youngkin announced plans to file an emergency appeal with the Fourth Circuit Court to block the ruling, stating his administration would take the case to the U.S. Supreme Court if needed.

List: Most Halloween Obsessed States

New England is the most festive region for Halloween, with New Hampshire and Maine ranked as the top "Halloween-obsessed" states in the country, according to a new ranking.

ConsumerAffairs analyzed data on haunted attractions, pumpkin patches, and Spirit Halloween stores relative to each state's population, along with internet search data. New Hampshire and Maine were joined by Utah, Idaho, and West Virginia in the top five.

The top five least festive areas in the nation were Washington, D.C., New York, Florida, Georgia, and Hawaii. You can see your state's rank here.

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➤ The FBI announced Friday it's investigating an alleged attempt by Chinese hackers to infiltrate U.S. telecommunication networks, with sources indicating the Trump and Harris campaigns may have been targeted. (More)

➤ The Washington Post announced Friday that it will not endorse a presidential candidate in 2024 or in future elections, marking the first time in 36 years that the paper will not make an endorsement. (More)

➤ The Biden administration proposed a new student loan relief program on Friday that would affect 8 million borrowers facing financial hardships. Previous plans have encountered legal challenges. (More)

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➤ Instant Fall Classic: The Los Angeles Dodgers won World Series Game 1 in incredible fashion last night in Dodgers Stadium. After the Yankees took a 3-2 lead into the bottom of the 10th and intentionally loaded the bases with two outs, Dodgers first baseman Freddie Freeman stepped up to the plate and blasted a walk-off Grand Slam. (Watch the Moment)

➤ College football preview: Oregon will defend its No. 1 ranking today against No. 20 Illinois at 3:30 ET on CBS. No. 3 Penn State visits Wisconsin, and No. 5 Texas will try to avoid Alabama's fate versus No. 25 Vanderbilt. (More)

➤ South Florida men's basketball coach Amir Abdur-Rahim, who led the Bulls to the AAC regular-season championship last year, died at 43 from complications during a medical procedure, the school announced Thursday. (More)

➤ The NBA discovered a scoring error in Wednesday's game between the Golden State Warriors and the Portland Trail Blazers, correcting a made free throw that went unrecorded, giving the Warriors an updated 140-104 victory. (More)

➤ Yesterday's Results: MLB | NHL | NBA | NCAAF | PGA | LPGA

Today's election section is brought to you by:

Election Countdown: 10 Days

Former President Donald Trump and Vice President Kamala Harris are deadlocked in the final New York Times/Siena College national poll before Election Day. (More)

Also in the polls, former President Trump has nearly closed the gap with Democrats among Hispanic men, trailing Vice President Harris by 2 points, compared to a 19-point deficit in 2020. (More)

Tech magnate Elon Musk's super PAC continued its daily million-dollar giveaways, announcing two winners Thursday night, despite receiving a warning letter from the Justice Department. (More)

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Wall Street loads up on surprising $2.1tn asset class. Bank of America. UBS. JP Morgan. They're all building (or have already built) massive investments in one $2.1tn asset class—and it's not what you think. It's not private equity or real estate, but fine art. Why?

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Daily Market Report 10/25/2024

▲	NASDAQ Natl. Assoc. of Securities Dealers Automated Quotations	18,518.61	0.56%
▼	SPX S&P 500	5,808.12	-0.03%
▼	DJI Dow Jones Industrial Average	42,114.40	-0.61%
▼	BTC Bitcoin	$66,715.02	-2.12%
▲	GOLD Per Ounce	$2,754.90	0.73%

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➤ Israeli, U.S., and Qatari officials announced that negotiations for a potential ceasefire in Gaza and a hostage release deal will resume, although Hamas's involvement remains uncertain. (More)

➤ Tropical Storm Trami has killed at least 65 people and displaced over 150,000 in the Philippines, causing severe flooding and landslides across Luzon. (More)

➤ Two Singaporean companies agreed Thursday to a $102 million settlement with the U.S. over their container ship's role in the March collapse of the Francis Scott Key Bridge. (More)

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➤ DNA tests have identified a skull found in an Illinois home in 1978 as belonging to an Indiana teenager who died over 150 years ago. (More)

➤ A bat escaped from a German zoo by hiding in a visitor's jacket, only to be discovered when she returned home. It was returned unharmed the next day. (More)

➤ Archaeologists in Uzbekistan discovered two medieval highland cities along the Silk Road, challenging assumptions about the trade route's geography and Central Asian history. (More)

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When was the last time you wore a Halloween costume?

Yesterday's Results:

Who do you think will win the World Series?

Los Angeles Dodgers: 49.4%
New York Yankees: 50.6%

Daily Quote

"When you're five years old with your two older brothers and you're playing wiffle ball in the backyard, those are the scenarios you kind of dream about."

— Dodgers First Baseman Freddie Freeman on his walk-off home run in World Series Game 1

Today's Trivia

Which three states don't offer early voting?

Show me the answer

Masterworks Disclaimer

^{The content is not intended to provide legal, tax, or investment advice.}

^{No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.}

^{"Net Annualized Return" refers to the annualized internal rate of return net of all fees and expenses, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. For additional information regarding the calculation of IRR for a particular investment in an artwork that has been sold, a reconciliation will be filed as an exhibit to Form 1-U and will be available on the SEC's website. Masterworks has realized illustrative annualized net returns of 17.6% (1067 days held), 17.8% (672 days held), and 21.5% (638 days held) on 13 works held longer than one year (not inclusive of works held less than one year and unsold works).}

^{Correlation data based on repeat-sales index of historical Post-War & Contemporary Art market prices and S&P 500 annualized return (includes dividends reinvested) from 1995 to 2024, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index.}

^{See important Reg A disclosures at masterworks.com/cd.}