1. Senate Republicans reintroduce an altered version of the healthcare bill and August recess is pushed back two weeks.
The altered version increases opioid funding from $2 billion in the original plan to $45 billion in the new version. It also keeps the Obamacare taxes in an attempt to sway more moderate Republicans to vote for the bill.
Support for the bill remains low, however, as moderate Republicans are still concerned about the deep cuts to Medicaid. Senator Paul, who thinks the bill is too weak, and Senator Collins, who think the bill goes too far, have both publically stated their opposition to the bill. According to Senator Collins, 8 to 10 other senators are still on the fence.
The vote on the bill has been pushed back until Senator McCain recovers from surgery. CBO score can be expected to come out soon, but has been delayed and will not come out Monday, as was originally planned.
Senator Graham and Senator Cassidy also unveiled a plan of their own which would appropriate funds to the states, limiting the federal government's involvement in health care.
2. Donald Trump Jr. in hot water after emails to Rob Goldstone surfaces.
Earlier this week, Donald Trump Jr. released emails between him and a Russian contact after learning that The New York Times was publishing a story on the e-mails.
He received an email from Rob Goldstone who claimed that the Russian government had damaging information on the then-presidential candidate, Hillary Clinton. Seventeen minutes after receiving the e-mail, Trump Jr. replied, “if it’s what you say I love it.”
The later arranged meeting by the two parties reportedly contained nothing of substance. However, it shows a willingness by the Trump administration to conspire with foreign entities.
3. President Trump visits President Macron in France during Bastille Day celebrations.
The two leaders set aside their differences on climate change in order to work towards a post-war roadmap for Syria and to discuss security measures in the Middle East.
At a joint news conference Trump was asked about his commitment to the Paris Accord, from which he has declared his intentions to leave, he said, “if it happens that will be wonderful, and if it doesn't that will be OK too."
President Trump also took the opportunity to defend his son amid the recent controversies, calling him a “wonderful young man.”
4. Massive floating ice-sheet in Antarctica broke away.
In a somewhat unanticipated development, an ice-sheet the size of Delaware broke away from Antarctica, creating the largest known iceberg.
Scientists are watching closely to observe if and when the iceberg melts.
5. Nobel peace laureate, Liu Xiaobo, passed away at age 61.
Mr. Liu was a champion of democracy in China. He protected protesters from the soldiers during the Tiananmen Square massacre in 1989. He also initiated a pro-democracy petition in 2008.
Having been jailed for long, Liu died last week after having battled liver cancer. He died under guard in a government hospital.
China cremated Mr. Liu’s body and threw his ashes into the ocean in order to avoid having his grave serve as a magnet for pro-democracy protesters.
6. Tens of thousands gather in Turkey for a massive rally one year after the failed coup attempt.
During the celebrations, the names of the 249 victims, not including the conspirators, were read aloud one by one with the massive red sea of supporters responding “we are here.”
On the 15 Martyrs’ Bridge, formerly known as Bosphorus Bridge, President Erdogan addressed the tens of thousands in the crowd.
"First of all we will chop off the heads of those traitors," Erdogan said. He also reaffirmed previous comments that he would sign any bill passed to reinstate capital punishment.
7. Roger Federer and Garbiñe Muguruza, respectively, win the Wimbledon singles title.
Roger Federer defeated Marin Cilic, a 28-year-old Croatian, on Sunday, making him the only man to win eight Wimbledon singles titles.
The day prior, Garbiñe Muguruza defeated Venus Williams in two sets, making her the first Spanish woman to claim the Wimbledon singles title since 1994.
8. The winter came to Westeros yesterday.
The long awaited return of Game of Thrones finally came yesterday with the introduction of Season 7.
Earlier this week, we saw White Walkers roaming the streets of London in a promotional event, adding fuel to the anticipation-fire.
Weekly Market Recap
The week started off with markets generally flat. The S&P 500 saw a small sell-off on Tuesday after the news broke in regards to Donald Trump Jr. and his emails with Russian contacts. The Senate delaying its August recess helped speed up the recovery later that Tuesday.
The markets closed strong, however, with the S&P 500 and Dow Jones Industrial Average reaching record highs before closing on Friday.
Next week the focus will be on the housing markets as the National Association of Home Builders will be releasing their housing market index report on Tuesday. Housing starts and building permit reports will follow on Wednesday.
Weekly Market Change
The Brief is a weekly briefing which gives the reader the bread and butter of what happened in the previous week. Grab your cup of coffee this Monday morning and read a bite-sized version of what happened last week. Subscribe to The EC Journal mailing list to get The Brief in your e-mail inbox every Monday.