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Good morning readers. Imagine heading into an NCAA Elite 8 tournament game knowing the three-point line on one side of the court was shorter than the other? That’s exactly what happened yesterday for the Texas vs. NC State women’s game when coaches on both sides realized there was a discrepancy between the distances of the 3-point lines on each side of the March Madness court at the Moda Center in Portland. The teams ultimately decided to play the the game in the end. The NCAA provided little detail as to how the issue came to be in the first place.

You can check out the video of what happened here.

Let’s jump into today’s storylines.

In today’s digest:

• SCOTUS revives ancient law in abortion pill case

• Headline Hustle: Protests erupt in Israel asking for PM Benjamin Netanyahu’s resignation, AT&T leaks millions of customers data on the dark web, OpenAI reveals a feature that can clone human voices

• The top 1% got even more richer this year

• The Week Ahead: What to Expect

• Pulse Points: What’s Trending

LAW

The Supreme Court dusts off a 19^th century law in the abortion pill debate

The Supreme Court’s latest foray into abortion debates has it dusting off a piece of legislation that’s older than the lightbulb. We’re talking about the Comstock Act of 1873, a law that, until recently, was as relevant to our lives as horse-drawn carriages.

What is the Comstock Act?

This long-dormant act, originally aimed at preventing the mailing of "obscene" materials, including abortion-related drugs, has found its way into the spotlight thanks to comments from Justices Clarence Thomas and Samuel Alito.

While the Comstock Act isn't the star of the current Supreme Court case, its cameo has sparked a whirlwind of speculation and strategy among both abortion rights advocates and opponents. The Act's resurrection by the justices hints at a broader battle beyond the case at hand, one that could dramatically influence the mailing of abortion medication and, by extension, access to abortion itself.

Members of the anti-abortion camp are eyeing the Comstock Act as their next move in a game that doesn't require Congress to play—or the Supreme Court's approval, for that matter. They’re betting on a future Republican administration to enforce the Act, effectively turning the tide against the mailing of abortion meds. But not all anti-abortion advocates agree, with some dismissing the law's potential to impose a nationwide ban on medication abortion.

Abortion rights supporters, on the other hand, are sounding the alarm.

• They argue that a maximalist reading of the Comstock Act by the Supreme Court could spell doom for abortion access, leveraging a law older than the right of women to vote against them.

The case in question zeroes in on the FDA’s regulations around mifepristone, one of the drugs used in medication abortion, and whether changes to its distribution were lawful. The conversation has spiraled into a broader debate about the Comstock Act’s relevance today, with implications that reach far beyond the courtroom.

Big picture: While the Supreme Court mulls over this legal challenge, the political and social stakes are high. The decision to revive or reinterpret the Comstock Act could reshape the landscape of abortion access in the U.S., making this not just a matter of law, but a pivotal issue for voters in the upcoming election.

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IN THE KNOW

Headline Hustle

🇮🇱 Protests erupt in Israel calling for Prime Minister Benjamin Netanyahu’s resignation. Jerusalem witnessed fervent protests on Sunday, with some demonstrators being relatives of hostages held in Gaza, demanding Israeli Prime Minister Benjamin Netanyahu's resignation. Former Prime Minister Yair Lapid urged the government to pay attention to the protestors situation, criticizing what he sees as official neglect. Thousands gathered outside the Knesset, Israel's parliament, echoing calls for the hostages' release. While largely peaceful, the protests saw minor disturbances, resulting in one arrest. Separately, families of captives expressed frustration after a meeting with Netanyahu yielded no progress in negotiations.

📶 AT&T leaks millions of customers data online. AT&T disclosed on Saturday an investigation into a recent data breach where millions of customers' information surfaced on the dark web. The company swiftly reset passcodes for 7.6 million current users affected and is reaching out to 65.4 million former account holders also impacted. While the breach hasn't materially affected operations, the leaked data, dating back to around 2019, includes personal details like names and Social Security numbers. This follows a separate February cellular outage, attributed to a system glitch, not cyber intrusion, with CEO John Stankey offering credits and apologies.

🤖 OpenAI reveals a feature that can clone human voices. OpenAI unveiled Voice Engine on Friday, a technology capable of replicating human voices from brief recordings. The company says it hesitates to release it publicly due to concerns over potential misuse. The AI-generated voices can read text and even switch languages, serving diverse functions from aiding children in reading to assisting non-verbal individuals. But given the risk of deceptive practices, especially in election contexts, OpenAI has opted for a more cautious approach. No details on an official release date have been revealed.

WEALTH

The top 1% got richer, again

In the wake of a record-breaking end-of-year surge in stock prices, the wealth of the top 1% in the United States soared to unprecedented heights, reaching a staggering $44.6 trillion by the close of the fourth quarter, as revealed by recent data from the Federal Reserve.

Breaking yet another record

Defined by the Fed as individuals possessing assets exceeding $11 million, the top 1% witnessed a remarkable $2 trillion increase in their total net worth during this period, with the bulk of these gains stemming from their stock portfolios. Notably, the value of corporate equities and mutual fund shares held by this elite echelon surged to $19.7 trillion, underscoring the significant role of the stock market in shaping their fortunes.

But despite this surge in wealth, the report sheds light on the persistent issue of wealth inequality, with the top 10% of Americans owning a staggering 87% of individually held stocks and mutual funds, while the top 1% alone command half of all individually held stocks.

• While the affluent benefit from a rising stock market, translating into heightened consumer confidence and spending, the broader economic impact remains debatable.

• Economists caution that the wealth effect may not translate into substantial spending at the higher end, as observed in the declining consumer confidence among affluent demographics.

Looking ahead…with the S&P 500 already showing a significant uptick this year, it is evident that the wealth of the top 1% has likely surpassed previous records. Despite brief declines in inequality in recent years, the wealth gap has regrettably widened once again, echoing pre-pandemic levels.

WEEK AHEAD

What to expect

• Donald Trump's civil fraud case: Donald Trump is required to post a $175 million bond by Thursday in a New York civil fraud case.

• Corporate news and economic developments: With majority of the earnings season concluded, attention turns to US employment figures as the highlight among a few economic updates.

• General Electric (GE) spinoff: On Tuesday, GE will finalize the spinoff of its power generation segment into a new company named GE Vernova. Post-spinoff, the leftover portion of GE will be rebranded as GE Aerospace, reflecting its focus on the aerospace industry.

• Walt Disney’s shareholder meeting happens this Wednesday: Walt Disney will conduct its annual shareholder meeting on Wednesday in the midst of a proxy battle against activist investor Nelson Peltz’s Trian Partners.

What else is happening…

• NATO is celebrating its 75th anniversary in Brussels

• It’s April Fools today

• This Saturday is International Pillow Fight Day

SNIPPETS

Pulse Points

• Tesla is finally getting into advertising after years of resistance.

• Here’s a closer look at the lawsuits against Sean ‘Diddy’ Combs, who recently fled the country to avoid jail time.

• A strong storm system, beginning in California with thunderstorms, flooding, and heavy snow, is set to move across the U.S., bringing severe thunderstorms, tornadoes, and potential flooding to the Central and Eastern states, before concluding with a possible intense late-season snowstorm in New England midweek.

• The Powerball jackpot increased to an estimated $975 million as no winners emerged from Saturday night's drawing, extending a nearly three-month period without a major winner.

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