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Explosion near US Embassy in Tunis prompts emergency response
FOX Daily update ⋅ March 6, 2020NEWS Joe Biden not so 'sleepy' when Fox News plays it straight on Super Tuesday“Fox News Sunday” host Chris Wallace with co-anchors Martha MacCallum and Bret Baier on the set of Fox News Channel's Super Tuesday coverage in ...Flag as irrelevant Wendell Goler, longtime Fox News White House correspondent, dead at 70Goler joined Fox News Channel in 1996 as a correspondent and worked his way up to senior White House foreign affairs correspondent. The ...Flag as irrelevant Court to halt Trump administration's 'Remain in Mexico' policy in Arizona, CaliforniaFox News Flash top headlines are here. Check out what's clicking on Foxnews.com. After temporarily blocking and unblocking the "Remain in Mexico" ...Flag as irrelevant Biden lands big endorsement in crucial primary state of MichiganTHE LATEST FROM FOX NEWS ON THE 2020 PRESIDENTIAL CAMPAIGN. Michigan is the largest and most important of the six states hold ...Flag as irrelevant Trump moves forward with cutting off funds to sanctuary cities: 'Do not protect criminals!'Former Acting ICE Director Thomas Homan speaks with Fox News about sanctuary city policies and the dangers it poses for law enforcement and ...Flag as irrelevant California raids target 'birth tourism' operationsCLICK HERE TO GET THE FOX NEWS APP. “We also have locals and their family members staying,” Lu told the Register. Following Tuesday's raids ...Flag as irrelevant Trump amped up his war with Fox News by insulting its coverage during a Fox News interviewPresident Donald Trump continued his simmering feud with Fox News, insulting the network Wednesday evening on one of its own programs during a ...Flag as irrelevant Trump rebukes Schumer over threat to Gorsuch, Kavanaugh: 'A disgrace he was able to say ...President Trump told Fox News' Sean Hannity on Wednesday that he heard about coronavirus early on as it started to break out in China and he ...Flag as irrelevant NASA worker accused in death of Maryland National GuardsmanFox News Flash top headlines are here. Check out what's clicking on Foxnews.com. A NASA employee has been charged with murder in the death of a ...Flag as irrelevant Nadler tells Fox News he's willing to let FISA expire if no reauthorization agreementFox News Flash top headlines are here. Check out what's clicking on Foxnews.com. House Judiciary Committee Chairman Jerry Nadler, D-N.Y., told Fox ...Flag as irrelevant WEB Fox News - Secretary of State Mike Pompeo delivers remarks...Good morning everyone. I know you're happy to see me twice. I just I'll talk about that in just a minute, then tomorrow will be a need The United ...Flag as irrelevant Group of Houstonians worried after friend hospitalized, tested for COVID-19FOX 26 Reporter Damali Keith speaks with Houston Mayor Sylvester Turner about how the city plans to handle a coronavirus outbreak. HOUSTON - ...Flag as irrelevant FOX 12 Oregon | Box to Box with Diego CharaFOX 12 Oregon's Nick Krupke walks box-to-box with Timbers midfielder Diego Chara to talk about his life in Portland.Flag as irrelevant War of the Worlds on FoxWatch War of the Worlds on Fox with NOW TV. HG Wells' War of the Worlds remains a powerful and terrifying story that is rich with possibilities for ...Flag as irrelevant Good morning. On Employee Appreciation Day, we want to acknowledge all of Morning Brew’s employees from growth, tech, brand partnerships, design, and more who make this newsletter possible.So, if you really want to show your appreciation, you'll share the newsletter, head to our website, click the ads, and frame the artwork.MARKETS
NASDAQ8,738.60- 3.10%S&P3,023.98- 3.39%DJIA26,118.64- 3.59%GOLD1,673.80+ 1.87%10-YR0.922%- 14.00 bpsOIL45.86- 1.97%*As of market closeDo not use a roller coaster metaphor...do not use a roller coaster metaphor...do not use a rol—- U.S. markets: Stocks are on a bit of a roller coaster, eh? The major U.S. indexes all took a major hit as the WHO said there were roughly 17x as many new coronavirus cases outside of China than in it. The S&P has swung more than 2% for four straight days.
HOUSING
How Loan Can You Go?
Francis ScialabbaThe average rate on a 30-year fixed rate mortgage dropped to 3.29% this week, its lowest level on record. Maybe it’s worth dropping by Pharrell’s open house after all.What’s going on: We’re seeing the power of a Fed rate cut in action.- 30-year mortgage rates have no free will—they move in lockstep with 10-year U.S. Treasuries.
- Treasury yields were already at all-time lows because of concerns the coronavirus would hit future economic growth. Investors buy Treasuries when they want to play it safe, and yields move inversely to prices.
- In an emergency move this week, the Fed cut interest rates...sending yields even lower. The 10-year yield dropped under 1% on Tuesday, a milestone that was unthinkable last year.
What does this mean in real life? With borrowing rates underneath the basement, homeowners are racing to lock in cheaper loans.A refinancing bonanza
Mortgage refinancing applications are up 224% from the same week last year, the Mortgage Bankers Association said Wednesday.And industry records are being shattered, reports Bloomberg:- The country’s No. 1 mortgage lender, Quicken Loans, said Monday was the busiest day for mortgage applications in its 35-year history.
- Also on Monday, United Wholesale Mortgage approved a single-day record of $2.5 billion in preliminary loans.
The thing is, to process this flood of applications you’re going to need a lot of people. So the mortgage industry is on a hiring spree to take advantage of the gold rush.- “If you’re not making $1 million this year as a loan officer, you’re grossly incompetent,” a Gold Star Mortgage Financial exec told Bloomberg.
- JPMorgan Chase shifted some of its home-equity employees to the mortgage division last week, per the WSJ.
Looking ahead...we’re about to enter the busy spring season when lots of homes trade hands. While low mortgage rates offer enticing financing opportunities, they also spur more demand. In some U.S. cities, higher prices and a lack of inventory have led to an affordability crisis.AVIATION
Airline Industry Delayed Indefinitely
In air travel, you can never trust the first thing they tell you will be the worst thing they tell you.Two weeks ago, the International Air Transport Association (IATA) said the industry should expect losses of less than $30 billion this year from the coronavirus epidemic. But yesterday, it said the hit to revenues could reach upwards of $113 billion. That's on par with losses from the financial crisis. So what changed?- The coronavirus spread to over 80 countries, affecting not just Chinese but global airline networks.
- Carriers had to freeze hiring and cut flights. In the worst-case scenario, U.K. regional airline Flybe entered “administration” (British for bankruptcy) yesterday.
Zoom out: IATA Chief Economist Brian Pearce said that because many airlines are loaded up with debt and barely eke out profits as it is, they’re not exactly in fighting shape. Plus, the industry is still hurting from the grounding of Boeing’s 737 Max.Bottom line: Airline stocks have fallen almost 25% since the outbreak began—5x more than at a similar point in 2003’s SARS crisis.Gage Skidmore from Peoria, AZ, United States of America, Elizabeth Warren (48590081057), CC BY-SA 2.0Yesterday, Sen. Elizabeth Warren dropped out of the Democratic presidential primary and Mark Zuckerberg had the best night’s sleep of his life.Roll the tape:- Warren’s detailed plan to break up Big Tech companies brought Silicon Valley trustbusting from academia to the debate stage, The Verge writes.
- Warren also burnished her status as corporate America’s boogeyman in the 2020 race. She proposed a wealth tax on the country club class and jacked-up taxes on corporations.
But the architect of the Consumer Financial Protection Bureau failed to win any early voting states, including her own, Massachusetts.- Warren did rack up the second-largest number of Democratic delegates of any woman to run for president, behind only Hillary Clinton.
Looking ahead...both former VP Joe Biden and Sen. Bernie Sanders have solicited Warren’s endorsement. No word on whether they’ll borrow her plans as well.SPONSORED BY PANERA BREAD®
By Joe That’s Affordable Coffee
Unlimited coffee. $8.99 a month. Panera Bread’s new coffee subscription program. Your cup is always full.We poured over how we should tell you about this coffee deal. And when we say we poured over strategies, we want to emphasize how much we really grinded it out.We held meetings, printed out drafts, ripped up drafts...ultimately, the blend of hot coffee and a hotter deal convinced us to let Panera’s Unlimited Coffee Subscription speak for itself. So we dare you not to let a smile cross those mugs when you read the details again:Unlimited coffee. $8.99 a month. Panera’s new coffee subscription.Try a taste of some bullet points:- Unlimited hot and iced coffee or tea
- $8.99/month
- ^that is what Panera’s Coffee Subscription is
How about a spoonful of caps? UNLIMITED HOT COFFEE. $8.99 PER MONTH. A COFFEE SUBSCRIPTION.GET IN ON—forgot to turn off caps—get in on Panera’s revolutionary coffee program here.GIPHYAll week we’ve been learning about the important events on the economic calendar. But those were just warmup tosses for today’s big release: the Employment Situation Summary, or as it's known on the Street, the jobs report.When it’s released: the first Friday of every month at 8:30am ET on. the. dot.Who does the releasing: the U.S. Department of Labor’s Bureau of Labor Statistics (BLS).The purpose of the releasing: The jobs report tells us if, where, and for how much people are working in the U.S. Because labor stats can be good indicators of overall economic health, the jobs report influences equity, bond, and currency markets.How it works: The report actually consists of two different monthly surveys, one for households and the other for (non-farm) businesses and agencies. The business survey has a larger sample size.Where we stand:. The U.S. economy has added jobs for 112 straight months, while the unemployment rate remains near historic lows. Economists project 175k new jobs were added in February.
+ The other economic events we covered this week: ISM Manufacturing Report, central bank meetings, Beige Book, and OPEC.Naughty DogThe Guy is getting a new neighbor.HBO will adapt Naughty Dog’s zombie-infested, post-apocalyptic videogame The Last of Us into a TV show, THR reports. The game won all the Game of the Year awards following its 2013 release on PlayStation 3, and it’s sold more than 17 million copies total.Zoom out: With productions like this, it’s not just about the what...it’s about the who.- Chernobyl creator Craig Mazin, who hasn’t experienced sunlight in 17 years, will be one of the executive producers.
- The other, Neil Druckmann, was the writer and creative director of the game. This is not typical for videogame adaptations.
So who’s excited?QUIZ
No Time to Quiz
We haven't canceled it yet...it's the Brew’s Weekly News Quiz.1. Which of the following events has been canceled amid coronavirus concerns?- Geneva International Motor Show
- NCAA basketball tournament
- Tokyo Olympics
2. Its official moniker is “Summary of Commentary on Current Economic Conditions by Federal Reserve District.” But what is the Fed report’s better-known name?3. Fill in the blank: Germany won't produce any _____ for the first time ever this year, after certain regions failed to reach low-enough temps.4. Which is greater: The max speed of Usain Bolt or one of the scooters from his e-scooter company?5. There’s one upside to economic slowdowns, and it’s shown in the NASA image below. Can you name what the red/yellow section represents? You get one point for the generic name, and a year's worth of newsletters for free if you know the scientific name.Answers: 1. The Geneva International Motor Show 2. Beige Book 3. Eiswein and ice wine are both acceptable answers 4. Usain Bolt’s record speed is 27.8 mph while a Bolt Scooter can go 30 mph 5) Air pollution or nitrogen dioxide, specificallyWHAT ELSE IS BREWING
- JPMorgan CEO Jamie Dimon underwent emergency heart surgery yesterday. He is "awake, alert, and recovering well" according to a company statement.
- Gap Inc. is going with Sonia Syngal as its new CEO. Syngal has been leading Gap’s Old Navy brand.
- Facebook said it's removing ads from President Trump's reelection campaign that presented misleading information about the census.
- HP rejected Xerox’s acquisition bid of $35 billion.
- Gary Jones, the former president of the United Auto Workers union, was charged with conspiring to embezzle union funds.
SPONSORED BY PANERA BREAD®
In case you missed it earlier, your favorite bread buddies just became your favorite baristas. Panera’s rolling out their Unlimited Coffee subscription program, with which you’ll get all the hot or iced coffee and tea you can stomach for $8.99 a month. That deal is piping hot. Bonfire-at-the-equator, chili-peppers-in-a-furnace, sauna-in-Dante’s-Inferno hot. Sign up for this unmatched coffee subscription with Panera here, and remember, Brewristas: Your cup is always full.BREW'S BETS
IFCFeeling nostalgic? Check out these sites this weekend (before or after unplugging, of course):FROM THE CREW
National Unplugging Day begins tonight, so we asked your advice on the best ways to take a break from tech. Many of you recommended reading a book, going for a walk, playing with pets, and deleting apps. Here are a few other ideas we want to try:- “Having my boyfriend hide my phone, and I get to hide his.”—Jenny, NYC
- “I have a ‘real’ alarm clock. My phone is learning to sleep in its own room.”—Leann, CA
- “I already unplug from Friday night to Saturday night...it's called Shabbat. Y'all should try it."—Noam, MD
- “Literally just buy the Bananagrams game. I swear. You put that on the table and no one is even thinking about screens. Competition kicks in.”—Rachel, GA
FRIDAY PUZZLE
Fill in the blank with a word that completes a phrase/name with both the first and the last word already given.- Example: Julius _____ salad = Caesar
1. Merry _______ Island
2. Good _______ brew
3. Reserve _______ holiday
4. Cast ______ deficiency
5. New ______ pigSHARE THE BREW
When you share the Brew, you earn rewards.From Brew swag like t-shirts and coffee mugs to exclusive content, we've got something for everyone in our premier rewards program.Hit the button below to start sharing the Brew.Click to ShareOr copy & paste your referral link to others:
morningbrew.com/daily/r/?kid=a17a7110 FRIDAY PUZZLE ANSWER
1. Merry Christmas Island
2. Good Morning Brew (had to)
3. Reserve bank holiday
4. Cast iron deficiency
5. New Guinea pig(Source)Was this email forwarded to you? Sign up here.Written by Neal Freyman, Jamie Wilde, and Eliza CarterWANT MORE BREW?Retail newsletter → Retail Brew
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