TOGETHER WITH

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When you share the Brew today using your unique referral link, you get entered into a raffle to win a MacBook Pro.
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MARKETS

NASDAQ

11,056.65

+ 1.87%

S&P

3,383.45

+ 1.27%

DJIA

27,992.38

+ 1.18%

GOLD

1,967.30

+ 1.00%

10-YR

0.677%

+ 0.70 bps

OIL

37.33

UNCH

*As of market close

Stocks: Coming off its worst week since March, the Nasdaq jumped nearly 2% amid a blizzard of deals. But there’s no time for a water break, with the Fed’s policy announcement on Wednesday and the biggest week for IPOs since Uber went public.
Energy: A few ominous signs in the world of oil. OPEC slashed its projections for oil demand this year and next, while BP said demand for crude will peak in the early 2020s.

RETAIL

The Brew's Egregiously Early Holiday Preview

Francis Scialabba

We’ve got seven days until fall, but temperatures dipped below 70 last Thursday so we’re already slipping peppermint creamer into our coffee. To kick off this holiday preview, let's first check in with Captain Obvious. Captain?

Celebrations will look different

Nearly three-quarters of adults expect smaller holiday gatherings with friends and family because of Covid-19, according to a Morning Consult survey. About half expect virtual celebrations.

First up, Halloween. If grocery aisles could talk, they’d say 1) Halloween is already in full swing, and 2) there’s still a contingent of you who willingly buy Butterfingers.

With 10% of annual sales at risk, Hershey is working with public health experts on a trick-or-treating website showing county-level coronavirus risks. Lawmakers have asked the CDC to release Halloween guidance, including alternatives like drive-through trick-or-treating. And LA County advised residents to move costume parties to Zoom.

To play Devil’s advocate (ha), Halloween is literally built around masks and individually packaged treats…

Next stop, Thanksgiving. Marching band parents exhaled a sigh of relief after Macy’s announced a TV-only parade yesterday. It'll pre-record segments with fewer participants and sub in specialty vehicles to lug the balloons.

Retailers are adapting

Holiday spending accounts for ~20% of U.S. retail sales and has increased every year since 2002...except 2008.

With the pandemic, 2020 spending could take a dip, especially without additional stimulus checks or padded unemployment benefits. But, with less travel and dining out, it could also go up.

Either way, retailers aren't waiting until Black Friday to find out. On October 10, more than two dozen are reportedly participating in a new holiday discount event mirroring Alibaba's Singles' Day in China. Home Depot, Macy’s, Walmart, Target, and American Eagle are moving their holiday seasons up. And Amazon Prime Day, typically held in the summer, is reportedly rescheduled for Oct. 26.

Starting early helps spread out crowds and process orders before holiday shipping surcharges take effect in November. But companies are still bulking up for the busy season: UPS and FedEx are hiring a combined 170,000 seasonal workers; Amazon said yesterday it's hiring 100,000 full and part-time employees.

TECH

Oracle and TikTok, One Day Later

Giphy

While the bidding war for TikTok was high on drama, the winning Oracle deal is low on specifics.

Here’s what we know

Oracle isn’t buying TikTok. Instead, the enterprise software company is expected to operate as the “trusted tech partner” of TikTok in the U.S. The announcement reaffirms that TikTok’s most valuable asset, its powerful recommendation algorithm, is unlikely to be part of the deal.

So what is the deal? It’s still evolving, but Oracle would likely house data from U.S. TikTok users on its own cloud servers to alleviate some of the national security concerns that prompted the Trump administration to call for a sale, Bloomberg reports.

Treasury Secretary Steve Mnuchin also floated the idea that TikTok could open a “TikTok Global” HQ in the U.S. and create 20,000 jobs.

Looking ahead...the deal will be reviewed by the Committee on Foreign Investment in the U.S. (CFIUS) in the coming days before President Trump provides the final sign off.

CORPORATE

Business Beefs

Sometimes relationships in the business world are less SpongeBob and Patrick and more SpongeBob and Plankton. Here’s the latest on the biggest beefs in business.

Nikola vs. short sellers: Nikola, the upstart electric truck maker, released its defense after short-seller Hindenburg Research called it an “intricate fraud” last week. In the 2,700-word rebuttal, Nikola called the report a “hit job,” however it did concede a few key Hindenburg criticisms. The SEC is now investigating Nikola over these fraud allegations, reports Bloomberg.

Whistleblower vs. Facebook: In a memo obtained by BuzzFeed News, ex-Facebook data scientist Sophie Zhang alleges the company failed to respond to evidence that fake accounts were undermining political affairs in countries all over the world.

Arm vs. Arm cofounder: TikTok-Oracle may be grabbing the headlines, but Nvidia’s $40 billion deal for UK chip designer Arm might be beefier. Arm’s cofounder Hermann Hauser wrote an open letter to British Prime Minister Boris Johnson asking that he intervene in the deal to protect UK jobs and economic interests.

Should Companies Lead With Purpose Through Crisis?

What impact can a purpose-driven company make on society? On this episode of The Bid podcast, Airbnb CEO Brian Chesky sits down with BlackRock Chief Marketing Officer Frank Cooper to talk about why purpose matters, how Airbnb has put purpose at the forefront of its decision-making, and how companies can lead through the Covid-19 crisis.

2020

Who (Doesn’t) Want to Be a Millionaire?

Gage Skidmore from Surprise, AZ, United States of America, Joe Biden (49554623208), CC BY-SA 2.0

If your annual income is <$400,000, feel free to skip to the end of this story because you won’t see major changes in your taxes if Joe Biden wins this November. If you earn more...pay attention.

Roughly 80% of Biden’s proposed tax increases would fall on the top 1% of earners, according to an analysis by the nonpartisan Penn Wharton Budget Model.

What about the top 0.1%? Glad you asked. Biden’s plan would up their income tax rate to 43% from nearly 31% currently. The top 0.1% = people making more than $3.3 million annually.

Biden also wants to increase the capital gains tax rate (levied on profits from asset sales) to nearly 40% for Americans earning $1+ million. President Trump wants to drop that rate to 15% from 23.8%.

What it means for the budget: Through 2030, Biden would raise nearly $3.4 trillion in additional tax revenue but boost spending by $5.4 trillion. The two biggest line items under the plan are education and infrastructure.

Big picture: Despite Trump’s claims otherwise, middle-class families would be largely unaffected by Biden's tax plan, per Wharton's analysis.

BEVERAGE

PepZzzzzzzCo

PepsiCo

In the biggest bedtime innovation since ad-free Counting Sheep Premium, consumer goods giant PepsiCo is releasing an enhanced water beverage called Driftwell to help you sleep better.

The backstory: Emerging from an employee incubator program, Driftwell went from ideation to production in under a year. The accelerated timeline comes as demand for “functional” beverages (those that provide value outside of just taste/nutrition) is on the rise, especially during a pandemic when people have struggled to sleep.

“I think we’re launching this at a time when there’s more consumer interest than there previously was, given everything that’s going on from a macro perspective,” Pepsi VP Emily Silver told CNBC.

What’s in the can: The active ingredient is L-theanine, an amino acid found in some mushrooms and teas, that PepsiCo says achieved results in clinical testing. At 7.5 ounces, it’s intended to provide the perfect amount of hydration without forcing a midnight trip to the bathroom.

Bottom line: As Big Soda confronts a decline in the popularity of sugary drinks, moves into emerging categories like sleep and relaxation will become more common.

GIVEAWAY

I Want to Give Away

Giphy

Now that that's stuck in your head, let us tell you how you can enter a contest to win a MacBook Pro.

When you share the Brew today, you’ll have a chance to win a brand new MacBook Pro for you and someone who signs up to the newsletter using your referral link.

Each time you refer someone to Morning Brew, you'll get a ticket entered into the raffle. 1 referral = 1 ticket.

How to start: Click the share button below to grab your unique referral link. Then, tell everyone you know that they can 1) read business news that makes you smile even during a pandemic and 2) have a chance to win a new computer.

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WHAT ELSE IS BREWING

Apple’s hardware event is today at 1pm ET.
Steve Cohen, the billionaire hedge fund manager, agreed to buy the New York Mets for a reported $2.4+ billion—a record for a North American sports franchise.
President Trump said he'd be open to podcast host Joe Rogan moderating a four-hour debate with Joe Biden.
YouTube launched a TikTok rival in India called Shorts. India has banned TikTok.
“It’s far fetched, until it’s not:” A new report reveals the potential for alien life on Venus.

BREW'S BETS

Tech Tip Tuesday: Spend five minutes in the driveway and optimize the settings on your in-car tech, including Apple CarPlay and Android Auto.

From Melinda and Bill: The Gates Foundation released its annual Goalkeepers Report last night, and—you guessed it—it’s about the far-reaching effects of Covid-19.

What we're watching: The Social Dilemma on Netflix. After seeing this documentary-drama mix, you are guaranteed to place your phone in another room before going to bed.

FAMGA footrace: Microsoft xCloud rolls out on Android today, so our videogame correspondent Jamie Wilde put together a non-gamer-friendly guide to cloud gaming. Read it here to learn why Big Tech is going all-in on the technology.

FROM THE CREW

Giphy

Yesterday, we wrote that Mike Bloomberg was pouring in $100 billion to help Joe Biden's campaign in Florida. Not even Mike has that much money—the billion should've been million. We regret the error.

To all those who asked, no you do not get a Brew mug for pointing out the mistake.

TRIVIA

Guess the Logo

Source: Can't tell you that just yet

Answer at the bottom

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TRIVIA ANSWER

That emblem belongs to the United Nations, which is kicking off the 75th session of its General Assembly today.

September 15

FEATURED BIOGRAPHY

Agatha Christie

READ MORE

FEATURED EVENT

1821

Central Americans granted independence

READ MORE

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MORE EVENTS ON THIS DAY

2004: American rock guitarist Johnny Ramone—who cofounded the Ramones, a band that influenced the rise of punk rock on both sides of the Atlantic Ocean—died in Los Angeles. [ Take our quiz about musical groups.]

1984: Prince Harry of Wales—the younger son of Charles, prince of Wales, and Diana, princess of Wales—was born in London. [ Sort fact from fiction in our quiz about English royalty.]

1963: Members of the Ku Klux Klan bombed the predominantly African American 16th Street Baptist Church in Birmingham, Alabama, killing four girls. [ Read our timeline of the American civil rights movement.]

1949: The Lone Ranger, originally a radio series, debuted on television, with Clayton Moore as the renegade lawman and Jay Silverheels as Tonto. [Test your knowledge of pop culture.]

1862: During the American Civil War, Confederates under General Stonewall Jackson captured Harpers Ferry, Virginia (now in West Virginia), and took more than 12,500 prisoners, the largest Union surrender in the war. [ How much do you know about the American Civil War?]

1978: Muhammad Ali won the world heavyweight boxing championship for the third time with his victory over Leon Spinks. [ How much do you know about boxing?]

SEE ALL EVENTS ON THIS DAY

ALSO BORN ON THIS DAY

1890

Agatha Christie
British author

1984

Prince Harry, duke of Sussex
British prince

1857

William Howard Taft
president and chief justice of United States

1946

Oliver Stone
American director, producer, and screenwriter

1961

Dan Marino
American athlete

Trajan
Roman emperor

SEE ALL BIOS ON THIS DAY

Fellow Conservative:

Democrats deny the real dangers of Antifa, but here's the truth:

Antifa isn't a "myth."

Antifa isn't "imaginary."

Antifa isn't "peaceful."

Antifa is a terrorist organization. Period.

Ask the police officers risking their lives to preserve law and order.

Ask the federal agents being pelted with fireworks and projectiles.

Ask the small business owners who've had their property destroyed.

Yet the Democrats dismiss it.

We can't allow this kind of lawlessness to continue. It's time for Americans everywhere to take a stand.

Please join me in fighting for principled leadership in Washington by supporting conservative candidates.

The House Freedom Fund has identified a number of outstanding leaders who will join me and other conservatives in the House in standing up to the liberals and fighting for the rule of law.

Our freedom depends on it. Our future depends on it.

The 2020 elections are quickly approaching and we need every freedom-loving American to engage right now.

You can donate directly to one or more of these candidates with one easy online transaction. HFF will pay all processing fees and transfer 100% of your candidate contributions to their campaigns.

It's the best way to impact the upcoming elections.

Please take action now.

All of these candidates are in competitive races and truly need help.

Let's send the liberals in Washington a message they can't ignore. Let's hand them the biggest surprise defeat in American history.

Thank you for considering this request and for doing so much to help fight for America's future.
5 Days After Trump Won,
This Secret Meeting Took Place...
It was just 5 days after the 2016 election of Donald Trump as president.

The election had electrified the nation and stunned the world.

For the first time in our nation's history, a citizen who had never held office or military rank was set to become the 45th president of the United States.

Still, some were frightened... even shaken... by the very thought of Trump being president.

David Horowitz reveals in BLITZ what happened that blustery day in Washington, D.C. - just 5 days after Trump had won...

On that day some of the nation's most radical "progressives" held an emergency meeting at D.C.'s luxurious Mandarin Oriental Hotel.

The group convening the meeting was the "Democratic Alliance," a shadowy group funded by billionaire George Soros.

Soros was not alone.

In fact, Horowitz reports that 110 billionaires are behind the so-called Democratic Alliance - and all pledged to stop Donald Trump, no matter what.

Their big goal, Horowitz explains in BLITZ, is to impose socialism on America.

BLITZ reveals that this meeting lasted four days, and Horowitz names key participants, some of whom are well-known: Nancy Pelosi, Elizabeth Warren, Keith Ellison.

BLITZ shows how this meeting formed the "RESISTANCE," a new network of 172 left-wing organizations.

The RESISTANCE had one single imperative: Destroy Donald J. Trump.

They would oppose everything he proposed.

Shower fire and hate upon him and his allies.

Go after Democrats who were not anti-Trump enough.

And they would seek to destroy Trump personally, politically, and professionally.

For the first time, BLITZ explains how and why the RESISTANCE works, and what its ultimate goals are.

They are not pretty...

Needless to say, Donald Trump is their immediate target.

He stands in the way of their big plan.

It's all in BLITZ.

Horowitz predicted in BLITZ, before anyone ever heard of George Floyd, that the Democrats and their RESISTANCE would even gin up a race war to stop Trump.

As so they have...

We see major U.S. cities looted, destroyed, occupied... they even are defunding the police.

Make no mistake: No one in America understands the far left better than David Horowitz.

You see, he was a far-left radical in the '60s and '70s.

But he defected.

He wanted to warn America about their radical plan to destroy our Constitution and our freedoms.

Horowitz has become one of the most celebrated conservative thinkers in America.

In BLITZ Horowitz has unmasked the left's real agenda... and why Donald Trump singularly stands in their way.

While exposing their plan to stop and defeat President Trump, BLITZ reveals Trump's victory plan to win reelection.

Mike Huckabee says if every American read BLITZ, Trump would win a landslide.

And President Trump himself tweeted that Horowitz was a "great author," urging you to get BLITZ.

You need to find out for yourself about the secret Mandarin meeting that took place in November 2016.

You can see their real names and plans.

You can understand the real danger posed by the RESISTANCE...

BLITZ also details what will happen over the next several weeks before the election.

David Horowitz is warning Trump supporters to "buckle up"... the RESISTANCE and their billionaire backers are not finished with Donald Trump!

But Horowitz also shares how Trump will fight back, and how you can make a HUGE difference.

You need to get BLITZ.

It's at bookstores everywhere, or check out the FREE Offer - Go Here Now.

Trump has a plan... and you play a key role in it.

So stay tuned... and get BLITZ Here Now and Save $28!

Newsmax.com

P.S. Despite a massive media blackout of BLITZ, it has been 7 weeks on the New York Times bestseller list. It's the only pro-Trump book that's been on the list that long... Rudy Giuliani recently said, "It must kill the New York Times BLITZ is a bestseller... you should read it!" See the FREE Offer - Go Here Now

September 15, 2020

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Why You May Hear 'I May Be an Alleged Rapist, But I’m a Democrat' In VA Soon