Saturday, January 23, 2021

HEADLINES WITH BREW

 

Daily Brew

TOGETHER WITH

Cariuma

Good morning. The NFL announced that 22,000 fans will attend Super Bowl LV in Tampa Bay, including 7,500 vaccinated healthcare workers (who will receive free tickets). Which two teams will they be watching? Here are the Brew’s picks for tomorrow’s conference championship games:

  • Bucs handle the Packers, 34–24. Tom Brady will throw for 97 yards but still get heaped with praise.
  • Bills topple the Chiefs in a nailbiter, 25–24. We picked the Bills to win the Super Bowl way back at the beginning of the season...there’s no going back now.

MARKETS


NASDAQ

13,543.06

+ 0.09%

S&P

3,841.47

- 0.30%

DOW

30,996.98

- 0.57%

GOLD

1,855.50

- 0.56%

10-YR

1.086%

- 2.70 bps

OIL

51.98

- 2.16%

*As of market close

  • Covid-19 update: Let’s head overseas, where UK Prime Minister Boris Johnson said there’s “some evidence” the new coronavirus variant, B117, is deadlier than the original strain (we already know it’s more contagious). In better news, it appears that the UK’s total Covid case numbers are on a downward trajectory.
  • Markets: The stock market winner this week was the Nasdaq, which posted a healthy gain of 4.2%. A Big Week for Big Tech had a lot to do with it.  

Giphy

Executives from major US corporations are eagerly raising their hands at the front of class hoping to get called on by President Biden. The problem they think they can answer? How to speed up a vaccine rollout that is wayyyy behind schedule.

  • New York State was set to run out of vaccine doses yesterday, Gov. Andrew Cuomo said. And just 67% of hospital staff (who are in the first priority tier) have received shots. 
  • Elsewhere in the country, about half of the 38 million doses distributed to states are stuck in freezers.

A few notable hand-raisers

Walmart, which is already vaccinating healthcare workers in Arkansas and New Mexico, is expanding its vaccine efforts to seven additional states, Chicago, and Puerto Rico. Eventually, the nation’s largest retailer thinks it can dole out 10 million to 13 million doses a month. 

Over in Washington state, Starbucks, Microsoft, and Costco have all been tapped by Washington Gov. Jay Inslee to help distribute vaccines. And this week, Amazon implored the Biden administration to call upon its expertise for something a little more pressing than delivering a Ninja food processor in less than 12 hours. 

Private sector public sector 

Big retailers, working more closely with local governments, could be a missing link in the distribution effort’s 10,000-piece puzzle. “Their core businesses are already geared around serving millions of customers day in and day out. They have locations right across the country and...national distribution and logistics networks,” Neil Saunders, managing director of Global Data Retail, told the Washington Post.

It’s not just the big kids helping out, either. Carbon Health, a healthcare startup that just finished raising a Series C round, now powers the back-end tech for the City of Los Angeles’s entire vaccine program. 

Zoom out: The private sector has every incentive to help out the government. “Our economy will not recover, and we won’t be able to get people back into the office, until we have good penetration of the vaccines,” Goldman Sachs CEO David Solomon said.

        

STOCKS

GameStop Can’t Stop, Won’t Stop

The army of amateur retail traders that fueled past rallies in stocks like Kodak and Hertz have a new favorite plaything: GameStop. 

Yesterday, the video game retailer’s stock shot up as much as 78%, triggering four separate trade stoppages so everyone could catch their breath.

The backstory: GameStop popped on investors’ radar after it added the cofounder of e-commerce pet brand Chewy to its board 10 days ago. Its stock surged 60% that day which, in turn, caught the eye of notorious short-seller Citron Research. 

Citron, which makes money if GameStop’s stock flops, released a video on Thursday outlining why it thinks GameStop is overvalued. “This is a failing mall-based retailer," the firm’s managing partner Andrew Left said in the video. Amateur traders took it as a challenge and promptly sent the stock soaring, racking up losses for anyone who holds a short position.

Bottom line: The amateur investors are winning for now—the stock is up 245% this month. But unless GameStop can prove its e-comm transformation is legit, they might not have the upperhand for long. 

        

Getty Images

After ticking up 0.7% in December, US existing home sales in 2020 clocked in at their highest level in 14 years. What juiced the housing market last year? 

  • Historically low borrowing costs: The 30-year fixed-rate home loan fell to 2.77% this week. It stood at 3.60% a year ago. 
  • Coronavirus lockdowns: After months of being cooped up in an apartment with young kids, you weren’t the only one thinking, “I gotta get a bigger place.” 

Here’s the crazy part: Home sales could have been much higher—if only there were more homes to sell. 1.07 million homes were on the market at the end of December, 23% fewer than December 2019.

That’s pushing up prices

The median price on an existing home was $309,800 in December, 13% higher than a year earlier. When you look closely, you’ll see that the higher end of the market is doing most of the heavy lifting.

  • Sales of homes <$100,000: down 15% annually
  • $500,000–$750,000: up 65%
  • $1,000,000+: up 94%

What these numbers show: If you made it through the pandemic unscathed, like many in the higher-income brackets did, you tried to level up your crib. 

        

SPONSORED BY CARIUMA

OOPS WE DID IT (TALKED ABOUT OUR LOVE FOR CARIUMA) AGAIN

Cariuma

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Francis Scialabba

Google parent Alphabet is shutting down Loon, its ambitious attempt to bring wi-fi to remote areas via high-flying balloons. The reason: Big dreams need big budgets. Too big.

  • The project’s leader, Alaistair Westgarth, explained in a blog post, “While we’ve found a number of willing partners along the way, we haven’t found a way to get the costs low enough to build a long-term, sustainable business.”

It was cool while it lasted: The tennis-court-sized balloons supplied internet service to an area 200x the range of a standard cell tower, with zero pretense of being pine trees. In 2017, Loon balloons restored wireless service to over 100,000 Puerto Ricans following Hurricane Maria.

Loon was part of Alphabet’s “Other Bets” segment, which incubated moonshot projects like self-driving car company Waymo and life sciences research organization Verily. “Other Bets” consistently records chunky operating losses.

Zoom out: CEO Sundar Pichai has been pruning financially risky projects in an attempt to pull the company’s gaze down from the clouds to its bottom line.

        

App Annie

TikTok rose past Facebook to become the most time-consuming social media app in 2020. 

According to App Annie, users spent an average of 21.5 hours on TikTok per month, 325% more than last year. All of the top five social media platforms experienced an uptick from 2019–2020, but none as dramatic as TikTok’s. 

Consider: #Snailtok alone, a hashtag full of snail videos, has over 24.3 million views. (For the record, our favorite snail influencer is slimetownusa.)

        

TAXES

Tax Season 2021: Important Facts and Figures

Tax illustration

Mark Wang

This article is part of our ongoing series on taxes and the gig economy.

Deadlines: The IRS delayed the start of tax season till February 12. In a normal year, the IRS typically starts accepting and processing last year’s tax returns in late January, but…yeah. 

  • We’re still on for the traditional April 15 tax filing deadline, which was extended until July last year. 

Stimulus payments: Many Americans received cash from the government last year (known as Economic Impact Payments) to blunt the economic crisis. This stimulus money is NOT subject to income taxes. 

  • If you didn’t receive 100% of the stimulus money you were entitled to, you are eligible for the “recovery rebate credit,” which will either bump up your refund or reduce your tax obligations.

Refunds: Once you file your taxes electronically, you should expect to receive your refund via direct deposit within 21 days of the filing date, the IRS said. 

WHAT ELSE IS BREWING

  • Hank Aaron, baseball and civil rights icon, died at 86. 
  • President Biden signed two executive orders aimed at helping out the most financially vulnerable Americans.
  • Amazon is trying to stop a union vote at an Alabama warehouse that’s scheduled to begin next month. It would be Amazon’s first US union election in seven years. 
  • The Japanese government denied a report that it had decided to cancel the Olympics this summer.
  • No Time to Die, the 25th James Bond film, has been delayed for the third time...to October 8.
  • NBCUniversal is shutting down its NBCSN sports network. 

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2021 creative trends: From inkscapes to eccentric animation, here are the design themes to look out for this year.

Weekend Conversation Starters: 

  • This might get too heated, but cast iron skillets: necessary, or heavy and hard to clean?
  • If your email sign-off were a song lyric, what would it be? I can show you the world, Morning Brew.
  • Debate serif vs. sans serif after looking through these homogeneous brand logos

*This is sponsored advertising content

GAMES

Brew Crossword: Sticky Situation

Crossword

Francis Scialabba

Today's clever Brew Crossword, written by the dynamic duo of Adam and Amanda Kallin, is related to current events...but we're not going to tell you how. Play it here to find out.

 

 

January 23rd, 2021

Biden Now Says 'Nothing We Can Do' To Change Pandemic Trajectory
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Does Chuck Schumer Have Something Else On His Mind Today?
It appears the dream of impeaching President Trump and blocking him from running for office ever again has Senate Democrat Leader Schumer... Read More ›
U.S. doctor: Manipulating bat-based coronaviruses easy
By Andrew Kerr Daily Caller News FoundationA U.S. doctor who is part of the World Health Organization team investigating the origins of the COVID-19 pandemic discussed his work manipulating bat-based... Read More ›
Winter Storm Could Batter Northeast Next Week
Widespread winter weather across the lower 48 states in recent weeks has been limited, but that drought could be over as early as this weekend into next week as a duo of storms could batter parts of... Read More ›
GOP Congressman Voices Support for Tying New Stimulus Checks to COVID Vaccines
One Republican congressman who is cool to the notion of giving out a third round of stimulus checks to Americans said he could warm up to... Read More ›
This Will Make You Feel Helpless...
In less than 30 minutes, one man's life turned into a nightmare... And not even the police could do anything about it! Unsuspecting Americans have never been more vulnerable, and it's only going to get worse! Read More ›


FOX
Daily update January 23, 2021


NEWS

Fox News Fires a Key Player in Its Election Night Coverage
On Tuesday morning, Fox News fired Chris Stirewalt, the veteran politics editor who was an onscreen face of the network's election night projection that ...
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How Fox News Is Adapting To The Biden Era
Fox News is doubling down on its opinion shows and firing or sidelining some journalists as it adjusts to the Biden era. NPR discusses what these ...
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Shep Smith breaks his silence about why he left Fox News
Smith, now host of the nightly show "The News with Shepard Smith" at 7 pm ET on CNBC, told Amanpour that his presence on Fox became untenable as ...
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Never forget Fox News's promotion of the 'Big Lie'
Those are all serious situations, yet none of them compares to the latest crisis at Fox News Media: Hosts on Fox News Channel and Fox Business ...
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CNN moves to No. 1, Fox drops in post-election ratings shakeup: Will it last?
Fox News, the longtime top-ranked cable news network and, until recently, Trump's favorite media outlet, has lost its No. 1 status, too, with CNN now ...
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With Trump's exit, the Fox News presidency will come to an end
Four years ago, Fox News headed into the Trump presidency with an unprecedented opportunity. It was not only the primary source of news for the ...
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'America's Most Wanted' Revived at Fox
Former ABC News anchor Elizabeth Vargas will serve as host of the updated series, which has a long history at the network. Fox is giving new life to ...
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Fox News Foes Face Uphill Fight to Get Cable Network Dropped
Critics of networks like Fox News and Newsmax argue that the outlets fueled uncertainty about election results and should be dropped by cable ...
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Shepard Smith Opens Up About Leaving Fox News After 23 Years: "I Stuck With It for as Long as I ...
"If you feel like the Fox viewers were getting mis- or disinformation, I was there to make sure that they got it straight," Smith said in the clip, which ...
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WEB

Fox News - WATCH: Computer repair shop owner at the center of Hunter Biden probe speaks out ...
Fox News · 14 hrs ·. "I saw some pretty compelling documents." EXCLUSIVE: John Paul Mac Isaac, the owner of the computer repair shop at the center ...
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Secretary Michael R. Pompeo With John Roberts of Fox News America Reports - United States ...
QUESTION: A Fox News alert now, the United States leveling perhaps the most serious charge a country can face, accusing China in the last hour and ...
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Prescription Drugs, Biologics & Diagnostics | Arent Fox
Arent Fox is a one-stop-shop for life science companies. We help our clients manage the entire product life cycle, from protecting scientific ...
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WWE on FOX on Twitter: "#WWEBackstage is back?!? Here's our good friend, and the host of ...
WWE on FOXVerified account. @WWEonFOX. The official @FOXSports Twitter account for all things @WWE. Friday Night SmackDown airs Fridays ...
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1 dead another hurt following a snowmachine crash near Fox Monday
ANCHORAGE, Alaska (KTUU) - Alaska State Trooper say a 41-year-old Fairbanks woman has died following a snowmachine crash near Fox on the ...
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US Water Alliance CEO Radhika Fox Joins the Environmental Protection Agency | US Water Alliance
Radhika Fox said: “It is an incredible honor and privilege to be selected by President Biden to serve our country. I am proud to join the EPA team of ...
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Brady-Rodgers Boosts Fox's NFC Title Game Rate to $2 Million
According to media buyers, Fox's going rate for a 30-second in-game spot for the Bucs-Packers game jumped from an initial unit cost of $1.75 million to ...
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Today's Top Headline

The Growing Importance of NATO and What It Means To The World

 

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Deforestation Crisis in the Amazon Is Effecting Millions Around The World

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Plan Ahead, but Not Too Far Ahead...

Joe Biden’s Unity that Crushes, Truth that Lies

“Spend As Much As You Can… And Then Spend A Little More!”

Watch Biden press secretary Jen Psaki refuse to CONDEMN Antifa violence

Texas threatens to sue Biden admin for ‘attempt to grant blanket amnesty’




















Just The News

WaPo edits 2019 profile of Kamala Harris, removes joke she made about prisoner begging ...


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John Solomon shared





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Schumer says Senate will wait until February to begin Trump impeachment trial


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Moscow threatens 'reciprocity' over malfunctioning phone lines at New York consulate


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FBI finds stolen armored military vehicle


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Incoming Transportation Sec. Buttigieg suggests taxing Americans for amount of miles th...


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John Solomon shared





Just The News

White House calls for agency-wide effort on domestic terrorism, a 'growing national sec...


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