Khamenei Funeral Is a Show of Defiance Against the U.S.

**SPEAKER_1** (0:00)
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**Alex Ossola** (0:34)
Iranians flood the streets to mourn their fallen leader, a show of force by the regime that may complicate negotiations with the US.

**Benoit Faucon** (0:41)
But the messaging that is coming out of the rallies today is really that war could restart. It's a message of revenge.

**Alex Ossola** (0:48)
Plus, the Davos founder who resigned last year amid controversy is trying to come back to the World Economic Forum.
And Trump Accounts for Kids are now available. We dig into who should make one. It's Monday, July 6th. I'm Alex Ossola for The Wall Street Journal. This is the PM Edition of What's News, the top headlines and business stories that moved the world today.
The political drama rocking the World Cup just got a little more interesting. President Trump today confirmed that he called FIFA president Gianni Infantino and asked him to review US striker for Lauren Baligan's one game suspension.

**Donald Trump** (1:30)
All I did, I asked for a review because I didn't think it was a foul.
And again, I'm good at this stuff. I didn't think it was a foul. I thought it was two great athletes that crashed into each other and got entangled.

**Alex Ossola** (1:41)
Baligan had received a red card for stepping on an opponent's ankle. FIFA's decision to reverse Baligan's suspension drew widespread backlash, including from Belgium, which the US plays tonight at 8 p.m. Eastern. The Belgian Soccer Association tried to appeal the decision. FIFA rejected it. But Belgium has raised the prospect of further challenges if Baligan is part of the team for tonight's game. Infantino Today stressed the independence of FIFA's judicial bodies.
The president this morning also rang the opening bells for the NASDAQ and the New York Stock Exchange.
It's the first time that the two exchanges were rung in at the same time and remotely from the Oval Office. Trump did so to celebrate the fact that Trump accounts for kids are now available.

**Donald Trump** (2:25)
Between individual contributions and the seed funds, $800 million in new capital will be invested in the stock market for America's children this week.

**Alex Ossola** (2:35)
Those are a new type of savings account called a Custodial Individual Retirement Account for kids, and they come with special rules until the year the child turns 18
Elyse Goncalves has been covering the Trump accounts for the journal and is here to tell us more. Elyse, how do the Trump accounts differ from other accounts people might open for kids, like a 529?

**Elyse Goncalves** (2:53)
So Trump accounts are essentially retirement accounts that parents can open early on for their kids. With a 529 education investment account, parents can withdraw funds tax free as long as they're used for school expenses. The earnings from Trump accounts, on the other hands, are taxed as income when you make a withdrawal. When the child turns 18, they can start taking money out for college. There's one specific stipulation where you can take money out for a down payment on a house. But all other payments, you'd have to pay an early withdrawal fee.

**Alex Ossola** (3:23)
One reason that listeners might have heard about Trump accounts already, and they might be particularly appealing to some parents, is that they come with $1,000 of seed money from the Treasury Department for newborns for the next few years. So should parents open an account for kids even if they don't get the $1,000?

**Elyse Goncalves** (3:39)
So if your child doesn't get the $1,000, they may still be eligible for some additional contributions, like those from philanthropists or employers. For one, Michael and Susan Dell already promised billions of dollars to the program for kids who don't qualify for the $1,000.
And today, SpaceX's Gwynne Shotwell said she would contribute SpaceX talks to children between 11 and 17 and less affluent areas. On top of that, employers can add up to $2,500 annually to the accounts, and philanthropists and companies still have the opportunity to add money to these accounts. That said, financial advisors say it doesn't make a ton of sense for most families to add their own money to these accounts. Things like a 529 or a taxable custodial account can give families a better tax advantage.