Wednesday, June 3, 2020

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China says US pushing relationship to 'brink of a new Cold War'
VIDEOMay 26

China says US pushing relationship to 'brink of a new Cold War'

 

Columnists
Everyone Is Sure Biden Is Toast

Decades of California Democrats Defying Laws Has Led to This

The Controlled Burn Rages Out of Control

Some Facts Worth Knowing

Race and Riots

The Burden of Race and Rage

White Man Can’t Breathe

Twitter's Inconsistent Standards in Deleting Tweets from Trump to Kaepernick

Revealing the Socialist, Radical Revolutionaries Who Have Invaded the George Floyd Protests

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Biden's Safe Space in the Liberal Media

Will Joe Biden Be America's Second Catholic President?

U.S. State Department Shackles Target Maduro's Venezuela Kleptocrats

Mary Tyler Moore Doesn’t Live Here Anymore

High School Seniors Weren’t Forgotten, Thanks to Prom-on-Wheels

As We Hurdle Toward Recession, Can Right and Left Populists Agree?

The President Promises Penalties He Has No Power to Impose, While the Company Promises Moderation It Cannot Deliver

The Seeds of Today’s Chaos Were Planted Many Months Ago

The Dangers of Scientific Censorship—on Climate and COVID

Whatever Happened to Social Distancing?

You Are Just Too Woke for Me

When They Preach Revolution, Believe Them


Video
Gov. Evers: Saying Abortionists 'Execute Babies' Is 'Blasphemy'
Trump blasts Schiff as 'political hack'

Pelosi's condescension offers some laughs
Pelosi open to border infrastructure
INVESTING
Yunji Announces First Quarter 2020 Unaudited Financial Results | Conservative news, politics, opinio

Too Few Babies And Immigrants Threaten American Growth

Beijing Security Law Will Spark Capital Flight From Hong Kong - Bryan Perry

Why The Founding Fathers Despised Democracy


Tipsheet
Horrific Facebook Live Video Captures Retired St. Louis Police Captain Being Murdered by Rioters

WATCH: Chris Cuomo's Stupid Reason for Supporting Looting

Steve King Loses Republican Primary

Black Lives Matter Has One Demand for LA Mayor Eric Garcetti

Minnesota Files a Civil Rights Complaint Against Minneapolis Police Department

WATCH: Black Business Owner Dismantles Looters' Claim That 'Black Lives Matter'

'Shh!': George Floyd Protestors Become Agitated with a CNN Reporter

VIP Gold Live Chat: Kurt Schlichter, Larry O'Connor & Chris Stigall - June 4, PM ET

VIP Gold Chat: Townhall's Julio Rosas, HotAir's Ed Morrissey & Bearing Arms' Cam Edwards - June 3, 1:30 PM ET

Trump Campaign Buries Biden on Race By Pointing to His Record

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Political Cartoons
Bearing Arms
"Wreck It" Ralph Northam's Message To Rioters Will Have Gun Sales Soaring | Cam Edwards

No, Trump's Talk Of Protecting 2A Rights Wasn't a "Dog Whistle" | Cam Edwards

As Cities Burn, Americans Embrace Their 2A Rights | Cam Edwards

Gun Owners Like This Aren't Helping Things | Tom Knighton

VIP Gold Live Chat- Ed Morrissey, Julio Rosas, and Cam Edwards 6/3 1:30 PM ET | Cam Edwards

 



June 03
Josephine Baker
FEATURED BIOGRAPHY

Josephine Baker

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Tiananmen Square
FEATURED EVENT
1989
Pro-democracy protest in Tiananmen Square crushed by Chinese military

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MORE EVENTS ON THIS DAY
Muhammad Ali fighting Ernie Terrell
2016: American boxer and social activist Muhammad Ali—who justified his self-proclaimed nickname “the Greatest” by becoming arguably the most admired and dominant heavyweight boxer in the history of the sport—died in Scottsdale, Arizona. [ Take our quiz about the world's greatest athletes.]
Montenegro
2006: Montenegro's parliament declared the republic's independence, severing some 88 years of union with Serbia.
scene from The Producers
2001: Mel Brooks's musical The Producers, starring Matthew Broderick and Nathan Lane, won a record-setting 12 Tony Awards. [Test your knowledge of theatre.]
Ruhollah Khomeini
1989: Iranian Shiʿi cleric Ruhollah Khomeini—who led the revolution that overthrew Mohammad Reza Shah Pahlavi in 1979 and later served as Iran's ultimate political and religious authority—died in Tehrān. [Take our quiz about the geography of Iran.]
Ed White: space walk
1965: Ed White emerged from the orbital spacecraft Gemini 4 and became the first American astronaut to walk in space. [Test your knowledge of famous astronauts and cosmonauts.]
duke and duchess of Windsor
1937: Some six months after abdicating the British throne, Prince Edward, duke of Windsor (formerly Edward VIII), married American socialite Wallis Simpson (who became duchess of Windsor). [ How much do you know about the kings of England?]
SEE ALL EVENTS ON THIS DAY
ALSO BORN ON THIS DAY
1865
George V
king of United Kingdom
1967
Anderson Cooper
American television journalist
1986
Rafael Nadal
Spanish tennis player
1808
Jefferson Davis
president of Confederate States of America
1925
Tony Curtis
American actor
1926
Allen Ginsberg
American poet
SEE ALL BIOS ON THIS DAY




 

TOGETHER WITH
Cisco WebEx
Good morning. Hope you’re staying safe and well. 

MARKETS


NASDAQ
9,608.37
+ 0.59%
S&P
3,080.82
+ 0.82%
DJIA
25,742.65
+ 1.05%
GOLD
1,733.90
- 0.94%
10-YR
0.685%
+ 2.50 bps
OIL
36.93
+ 4.20%
*As of market close
  • Markets: It’s not quite baseball, but we’ll take it—IPO season restarts today. Warner Music Group will bat leadoff in a busy week that also includes the IPO of marketing data company ZoomInfo.
  • Energy: Oil continued to gain ahead of a virtual meeting between OPEC and friends.
Francis Scialabba
As protests continue across the country, many prominent brands and business leaders have directly addressed racial inequality following the killing of George Floyd. A sampling: 
  • Bank of America will commit $1 billion over the next four years to addressing racial and economic inequality. 
  • Music execs Jamila Thomas and Brianna Agyemang asked their industry to pause business on Tuesday and examine ways to support black communities. Millions of people joined in with an Instagram “blackout.” 
  • GM CEO Mary Barra will commission an inclusion advisory board of internal and external leaders.
  • Grindr will remove ethnicity filters on its dating app. 
  • Snap CEO Evan Spiegel called for a reparations commission and taxes to address racial injustice. 

This feels different

In 2018, Nike made the controversial decision to name former NFL QB Colin Kaepernick as one of its spokespeople. Two years before that, Kaepernick famously took a knee during national anthems to protest racial inequality and police brutality, and was effectively locked out of the NFL afterward. Despite boycotts, Nike stood by its decision; sales and shares rose.
Now it seems Nike was two years ahead of its time. Wharton marketing Prof. Americus Reed told the WaPo companies have been making bolder statements condemning all forms of racial injustice during the ongoing protests. And silence or neutrality is not going unnoticed. 
  • Companies also have public support. Civil rights, racial equality, and criminal justice reform are among the least controversial causes for brands to speak out on, according to Morning Consult. The most? Guns, abortion, immigration, and partisan campaign contributions. 

Big picture

A statement on social media ≠ a pass on accountability. We all remember Pepsi’s 2017 ad showing model Kendall Jenner handing a police officer a soda during a protest. And we all remember how mocked it was for trivializing protests against racial injustice.
As they speak out against racism, many companies will face (or are already facing) scrutiny over their own actions, business practices that have hurt people of color, and a lack of diversity, especially in executive ranks.
        
Kena Betancur/Getty Images
Yesterday, the videoconferencing company Zoom reported fiscal Q1 earnings that give you that triumphant “Leave Meeting” feeling. 
  • Zoom pulled in $328.2 million in revenue compared to $202.7 million expected for the quarter ended April 30. 
  • Our now-obligatory earnings caveat: Analysts are contending with an extremely uncertain environment, so beating expectations is a little less straightforward these days.    
Still...we’re looking at ridiculous numbers. Zoom’s revenue grew 169% year over year; the previous quarter, revenue grew 78%. 
  • The Zoom mobile app added an estimated 159 million monthly active users between March 4 and May 27, according to a Bernstein note that cited Apptopia data. 
  • Its stock is up more than 200% year to date.
Big picture: With its super-simple user experience and successful freemium model, Zoom was well-positioned to catch the videoconferencing wave when workplaces went WFH and birthday parties went BDFH. But Zoom stumbled in April over privacy and security issues, and competitors like Microsoft Teams, Cisco’s Webex, and even Facebook’s Messenger Rooms aim to chip away at its lead. 
        

MARKETS

Markets Shrug Off the End of Times

U.S. cities are experiencing one of the most widespread protests in generations. A global pandemic has killed more than 105,000 Americans in four months. GDP could fall nearly 53% in Q2. 
Surely the stock market is collaps—
Giphy
The Dow and S&P hit three-month highs yesterday as investors ignored the apocalyptic vibes and focused instead on states reopening their economies following coronavirus shutdowns. 
  • The S&P has bounced almost 40% off its March low and is only ~10% from a record high.
  • The Nasdaq, full of jubilant tech stocks, is “one big rally” from eclipsing its record, writes Bloomberg.
What’s happening: Investors are paying attention to the protests, but they’re not going to sell stocks unless they believe tensions will materially impact public companies’ financials (spoiler alert: they don’t). Investors view the fight against COVID-19 as a much better indicator of future economic growth, which is why vaccine whispers drive more stock market action than images of mass demonstrations. 
        

SPONSORED BY CISCO WEBEX

Good Luck Messing With This Video Conference Call

Cisco WebEx
Our job hasn’t changed: We still fill your inbox with freshly brewed business news each morning. Except now we do it from home. And with so many companies doing the same, more and more are turning to Webex for video communication that ensures their teams can work together securely.
In order for us all to keep doing our best, we need video conferencing that keeps the video-bombers out. Webex makes it simple to reliably connect with one another no matter where you are. 
Webex is the go-to video communication tool for heads of state, governments, schools, medical providers, and the world’s most trusted brands. Which means you can trust it for your small business, too. You can think of them as strong, muscular, sunglasses-wearing security guards that live in your computer to keep things safe, secure and connected.
Get your team the best video conference bodyguard of all time and sign up for Webex today—it's free.
Andressa Anholete/Getty Images | Artists pay homage to the 30,000+ people who have died from COVID-19 in Brazil.
Some countries have begun lifting restrictions on businesses despite growing COVID-19 case tallies. 
In India, restaurants, hotels, and places of worship will be allowed to reopen Monday, June 8. But the country, the world’s second-largest by population, hit a new record on Saturday for a single-day rise in cases at almost 8,000. 
In Pakistan, Prime Minister Imran Khan said lockdowns will broadly end except for a few sectors.
Several South American countries, including Bolivia, Ecuador, and Venezuela, will also loosen restrictions. Brazil, which has suffered the second-largest number of cases worldwide, is opening up some of its most devastated regions. 
Zoom out: These countries are crying uncle under the economic pain of lockdowns. "Unfortunately, the [previous] lockdown has already hit the poor people,” Khan said. “We have to save our people from coronavirus and hunger simultaneously.” As for Latin America, the UN’s regional office projected in April that the pandemic will inflict the worst recession since 1930. 
        
Francis Scialabba
In the early days of the coronavirus pandemic, retailers from LVMH to Eddie Bauer began churning out medical-grade PPE masks to support healthcare efforts—and keep the lights on while lockdowns slashed demand for discretionary products.
Then, in March and April, regular ol’ consumers learned we had to wear masks in public places, creating massive demand for sub-medical grade (but still crucial to public health) cloth masks. 
  • Sellers on DIY e-commerce site Etsy sold 12 million face masks in April, generating $133 million in total sales.
  • In the 30 days leading up to May 18, there was one face mask-related search on Etsy every .5 seconds.
Where are we now? The maskstravaganza continues, but analysts say apparel retailers are still in the wilderness.
Are masks situational products that we only bring out for crowded events like concerts? Will people want a new one every week? Or use the same one for years?
A Morning Brew Original: To learn more about the mask market, read our latest piece on apparel's new wild west.

WHAT ELSE IS BREWING

  • Cities nationwide have instituted curfews amid the unrest. NYC's was extended through Sunday. 
  • Facebook CEO Mark Zuckerberg defended his position on President Trump’s posts in a call with employees, per the NYT.
  • Nearly 33% of unemployment benefits owed to Americans who lost their jobs during the pandemic have yet to be paid out, reports Bloomberg. 
  • France became the first major European country to launch its contact tracing app. Its fabled cafes are also open.

BREW'S BETS

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What will your office look like in the future? WeWork not only has ideas, they are already putting those ideas into action. Check out the article we put together with them and learn how you and your company can get back to work.*
Get in the property buying game: A great way to learn how is by listening to Real Estate Rookie, the newest podcast from BiggerPockets. Every Wednesday, they’ll walk you through topics like flipping houses, prepping for big investments, and creating lasting wealth. Learn more here.
Ready to leave 2020 behind? Fast forward a few trillion years and see what the cosmos will be up to here.
*This is sponsored advertising content

SPORTS TRIVIA

According to Forbes, the world’s highest paid male athlete and the highest paid female athlete play the same sport. Can you name them both?

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Tennis players Roger Federer and Naomi Osaka
June 03, 2020 Read in Browser

 

Obama Joint Chiefs ‘Sickened’ by Clearing of DC Demonstrators
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