U.S. and world news for May 30

Debt ceiling deal: The House Rules Committee is expected to vote on legislation this afternoon that would raise the country’s debt ceiling to avoid a default and at the same time make budget cuts the Republicans have been seeking. The deal was reached over the weekend with both President Biden and House Speaker Kevin McCarthy urging passage of the legislation. Some far right Republicans and far left Democrats have expressed opposition to the deal. A vote on the House floor is expected tomorrow.

Moscow attacked: Drones attacked a few residential buildings in Moscow this morning, causing minor damage. Russia did not report any deaths and blamed Ukraine for the attacks while claiming it shot down some of the drones while they were approaching Moscow. Russia again this morning staged new drone and missile attacks against civilian targets in Ukraine.

Beach shooting: Nine people were shot on a beach in Hollywood, Florida, last evening, a few miles south of Fort Lauderdale. Reports said a fight broke out and someone pulled out a gun and started shooting. There were no immediate deaths reported. Four of the victims were children.

DeSantis campaigns: Florida Gov. Ron DeSantis takes his campaign for the Republican Presidential Nomination to Iowa today for two days, followed by visits to New Hampshire and South Carolina. Donald Trump is expected to campaign in Iowa on Thursday.

Nvidia’s market capitalization: Chip manufacturer Nvidia Corporation is expected to reach a market capitalization of $1 trillion dollars today. That would make it the first U.S. chip manufacturer to have $1 trillion in market capitalization, which reflects the total number of shares of stock that are outstanding multiplied by the selling price per share of the stock.

Iowa building collapse: Demolition was expected to begin today of the six-story apartment building in Davenport, Iowa, that partially collapsed over the weekend. Nine people were rescued from the rubble and no deaths were immediately reported. A member of one family was reported to be still missing as of this morning.