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Good afternoon. Here's what you should know today, June 11: | |
- Trump will appear in court Tuesday as his legal woes pile up
- The Fed makes its next rate decision Wednesday
- A bellwether climate case goes to trial this week
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 | | Alex Soros. CHRISTOPHER LEE FOR THE WALL STREET JOURNAL | | |
1. George Soros's son is taking the helm of a $25 billion philanthropic enterprise. | |
| In his first interview as successor, Alex Soros said that he was broadening his father's liberal aims while embracing some different causes. Those include voting and abortion rights, as well as gender equity. He plans to continue using the family's deep pockets to back left-leaning U.S. politicians. "I'm more political," said Alex, a self-described center-left thinker who grew up self-conscious of the family's wealth and wasn't thought to be a potential successor. | |
2. Donald Trump will appear in court Tuesday amid a flurry of probes. | |
| The proceedings at a federal courthouse in Miami are expected to be the start of a prolonged series of legal engagements for Trump that could extend to, and beyond, the 2024 presidential election in which he is seeking to be the Republican nominee to face the presumptive Democratic candidate, President Biden. Law-enforcement officials are bracing for the possibility of unrest after demonstrators both supporting and opposing the former president made plans to rally around the courthouse. | |
| Trump Faces 2024 Split Screen of Campaign and Criminal Trials (Read) Trump, DeSantis Bring Tailored Messages to GOP Faithful After Indictment of Former President (Read) The Federal Case Against Trump on the Mar-a-Lago Documents (Read) | |
3. ETF flows show investors shying away from risk. | |
| Money typically chases performance in the $7 trillion exchange-traded fund market. This year, it is sitting on the sidelines. Cash inflows to ETFs are running at their slowest pace since 2019, when the market was significantly smaller. With interest rates at a 15-year high and the Federal Reserve's path ahead uncertain, investors have been favoring bonds and defensive equity strategies focused on less-volatile stocks. They will next hear from the Fed on Wednesday, when it makes its latest interest-rate call, a day after the release of closely watched inflation data. The European Central Bank will announce its rate decision on Thursday. | |
| How Are Stablecoins Faring? These Charts Will Tell You (Read) Shell CEO Takes U.K. Oil Giant's Pitch Direct to Wall Street (Read) | |
4. Ukraine is pressing on with its counteroffensive after some early setbacks. | |
| After months on the defensive, Ukrainian forces last week significantly stepped up their attacks in a bid to break through Russian lines. But the first assaults were costly. Kyiv's push is likely to unfold over weeks and months, with Ukraine launching multiple smaller probing attacks as it seeks to expose weaknesses in Russia's defenses. Meanwhile, the North Atlantic Treaty Organization and its allies will launch the largest-ever air-force wargames in the alliance's history this week, in a show of strength to deter Russian aggression in Europe. | |
| How the U.S. Patriot Missile Became a Hero of Ukraine War (Read) As Bakhmut Collapsed Around Them, This Family Clung On (Read) Bakhmut Before the War (Photos) | |
5. A climate trial in Montana could set an important precedent. | |
| Brought by more than a dozen residents who were between 2 and 18 years old when it was filed in March 2020, the case is among a wave of similar suits brought by youth across the country who argue that future generations will bear the consequences of a warming planet. The plaintiffs argue that the state's reliance on fossil fuels and their production violates the right to "a clean and healthful environment." The trial, set to kick off Monday, could be a bellwether for future climate litigation. | |
6. The French Open is drawing to a close today. | |
| Iga Swiatek, the 22-year-old women's tennis world No. 1 from Poland, took the 2023 French Open women's singles title at Roland-Garros Saturday, defeating Karolina Muchova in what became a captivating three-set roller coaster. At the time this newsletter was sent, Novak Djokovic was playing against Casper Rudd in the men's singles final for the chance to win his 23rd major title. | |
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