McCarthy removed as Speaker

Market Overview
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Year To Date Performances:

1. The House of Representatives decided to vacate Speaker Kevin McCarthy from his position as Speaker of The House. The vote stood at 216-210 against McCarthy, with a small number of conservatives siding with Democrats for his removal. Seven members did not participate in the vote. This marks the first time in U.S. history that a House speaker has been voted out. Kevin McCarthy announced that he would not seek re-election for the Speaker role.

2. A massive strike began yesterday as over 75,000 employees of Kaiser Permanente walked off their jobs. This significant move is set to disrupt the operations of one of the largest healthcare providers in the U.S., reflecting the broader labour unrest observed across various sectors in the country in recent times. Scheduled to last three days, the strike could jeopardize services for nearly 13 million people across several states. Non-urgent services, such as routine doctor visits, might face postponement or cancellation. However, Kaiser Permanente has reassured that essential services, including hospitals and emergency care, will continue to function by reallocating current staff and employing temporary workers. The vast range of employees participating in this strike spans from radiology and pharmacy technicians to dental assistants, optometrists, and various other support roles. Their collective action underscores the growing tensions and concerns within the healthcare industry.

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4. Headlines

   1. The UK has abandoned plans to build a high-speed rail.

   2. Uber has launched a new package delivery service.

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