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Welcome back from the long weekend away. Here's what you need to know to get back up to speed. Buying the dip is alive and well. Your next car might try to sell you pizza. And man, it's a hot one. —Josh Petri

 

Never fear, buy the dip is still here. With investors beginning to question whether the popular market maxim has passed its best-before date, the most potent countervailing force against prolonged stock pullbacks—the corporate buyback—is seeing its power swell.

 
Here are today's top stories...
 

The U.S. Supreme Court rejected two appeals challenging California gun regulations, steering clear of the debate over firearm restrictions following last week’s mass shooting at a Florida high school. The justices left intact the state's 10-day waiting period for gun purchases. They also rejected a National Rifle Association appeal and let California keep using fees paid on firearm transfers to help fund efforts to track down people who acquire guns illegally. The court has repeatedly refused to expand or reinforce constitutional gun rights in recent years.

 

The car of the future will sell your data. Picture this: You’re driving home from work, contemplating what to make for dinner, and as you idle at a red light near your neighborhood pizzeria, an ad offering $5 off a pepperoni pie pops up on your dashboard screen. Are you annoyed that your car’s trying to sell you something, or pleasantly persuaded? Telenav, a company developing in-car advertising software, is betting you won’t mind much. Car companies—looking to earn some extra money—hope so, too.

 

The East Coast of the U.S. is expecting record-breaking heat this week. Temperatures could soar as much as 30 degrees above normal Wednesday. The reprieve from the cold will be brief, however, with temperatures plummeting again on Thursday. Enjoy it while it lasts!

 

U.S. Special Counsel Robert Mueller is sounding the alarm that Russia meddled in the 2016 election, but there’s no sign that Donald Trump is listening yet. The president’s silence has some experts worried that Trump and his administration aren’t taking the threat from Russia to this year’s elections, with Republican control of Congress at stake, seriously enough. Meanwhile, Mueller has intensified legal pressure on Paul Manafort and his deputy, Rick Gates, accusing a lawyer who did Ukraine-related work with them of lying to the FBI. 

 

Walmart shares fell the most in more than two years after delivering a disappointing annual profit forecast. Though sales last quarter topped projections, the results reflected a slowdown in online orders—a key metric in its battle to fend off Amazon. Walmart can’t afford to lose ground as Amazon poaches shoppers and pushes into new arenas like health care.

 
 
 

Have you seen it yet?

Black Panther, the Marvel Studios superhero flick that opened on Friday, is stalking its way into the cultural zeitgeist in ways few movies ever do.

 
 

The Summit for CEOs by CEOs

Bloomberg Breakaway convenes 100+ CEOs of fast-growing companies for lively interviews with industry legends and results-oriented workshops on the most urgent challenges and opportunities for business growth. Find out more.

 

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