BREW WITH HEADLINES

 

TOGETHER WITH

Good morning. Coming to you bleary-eyed following another successful socially distant team gathering last night. It was exciting until people started showing off their iOS 14 widgets, then us Android users just got bored cuz we've had them forever. Yawn.

MARKETS NASDAQ 10,672.27 + 0.37% S&P 3,246.54 + 0.30% DJIA 26,815.44 + 0.20% GOLD 1,870.10 + 0.09% 10-YR 0.666% - 1.00 bps OIL 40.21 + 0.70% *As of market close Stimulus: House Democrats will reportedly bring a $2.4 trillion coronavirus relief bill to the negotiating table. That’s about $1 trillion less than their previous proposal, but talks have stalled so compromise is in the air. Jobless claims: They ticked up to 870,000 last week, a stable but very high number compared to pre-pandemic levels. Some good news? The overall number of people receiving unemployment benefits fell to 12.6 million, showing that some employers are re-hiring.

HOUSING 2020’s Housing Market: Location, Location, and Lockdown Orders

Francis Scialabba The Covid era has been even better for the housing market than it’s been for Peloton instructors' Instagram followings. When quarantines forced us to jury-rig encyclopedia standing desks, we had to spend more quality time with the weird beige paint in the living room...and started shopping for new homes.  Record-low mortgage rates, spurred by the Fed's moves to lower borrowing costs across the economy, have also helped strike up demand for housing.  New data out this week showed the housing market stayed strong throughout the summer. In August, U.S. new-home sales increased at the fastest rate since 2006, the government reported yesterday, marking four straight months of growth.  Only problem? We’re running out of homes to sell  At the current pace of sales, it would only take 3.3 months to run out of inventory. The supply/demand mismatch is pushing prices skyward, especially since sellers aren’t exactly rushing to host open houses these days.  The supply squeeze has bolstered the home construction industry in a big way. Single-family housing starts for August reached the highest annual rate since February.  Actually, there’s one more (major) problem  With the economy still in the basement, people are straining to pay their mortgages. According to industry analyst Keith Jurow, “several million” people will have gone nine months without making a payment when the Federal Housing Finance Agency's foreclosure and eviction moratorium expires at the end of the year.  17% of FHA-insured mortgages were delinquent in July, per the Department of Housing and Urban Development. In NYC, 27.2% of mortgages were.  Bottom line: The housing market is one of the few sectors to experience a true V-shaped recovery following the initial hit from the pandemic. But without enough houses for sale, the newfound demand is driving what some experts are calling an affordability crisis, in which higher home prices strip away the benefit from lower interest rates.

TECH Epic Games Squads Up Against Apple

Epic Games Yesterday, Fortnite maker Epic Games, Tinder owner Match Group, and filmmaker Spotify teamed up with 10 other companies to launch the Coalition for App Fairness, a nonprofit that will advocate for legal and regulatory changes to app stores. Target #1: Apple. The company’s controversial App Store fees are at the center of a legal fight Epic launched this summer. Epic added in-app payments to the Fortnite app that sidestepped Apple's customary 30% cut, which prompted Apple (and later Google) to kick Fortnite off its store. Epic sued, Apple countersued, and now the app proletariat are organizing a revolution against the Big Tech Bourgeoise. They’ve got demands Ten, to be exact. The coalition argues Apple and other app marketplaces exploit developers with high commissions, stifle competition, and prioritize their own products and services. In an unofficial response, Apple updated its website yesterday to reiterate how its platform benefits developers and users. The company said 28 million people globally use its developer program.  Looking ahead...this Team Rumble is going down in the courts. The next hearing for Apple’s countersuit against Epic is Monday.

VENTURE CAPITAL Name That Swede

Drew Angerer/Getty Images Hint: He founded Europe’s most valuable tech company. Daniel Ek, the 37-year-old founder and top dog at Spotify, promised to invest roughly a third of his personal wealth (1 billion euros, or $1.2 billion) into European tech startups yesterday, with a focus on “moonshot projects” in machine learning, biotech, and materials science.  Tired of the 17-hour flight from Stockholm to San Francisco Intl., Ek wants to create a European counterweight to Silicon Valley. “Some of the most promising tech talent in Europe leaves because they don’t feel valued here,” he said at the Slush tech conference.  Why is Europe behind? When your continent’s most recognizable tech exports are Spotify, Skype, and the guillotine, it means you’re playing catchup to Big Tech powerhouses in the U.S. and China. In Sweden, Spotify’s birthplace, just three startups have reached unicorn status (>$1 billion valuation), per CB Insights: Klarna, Northvolt, and Oatly.  In August, U.S. tech stocks reached a market cap greater than all European stocks combined.  Big picture: Some argue Europe’s stronger regulations and a lack of funding are responsible for the disparity. Ek’s trying to tackle that last one.

SPONSORED BY MANSCAPED Everybody Nose Grooming Is Essential Staring blankly into the mirror, you study the contours of your manly mug when suddenly, the hint of a single hair extending from your schnoz catches your eye.  You panic, grasping at the wiry devil until, with a desperate yank, you rip it from the abyss.  The sting sends tears to your eyes. This grizzly scene could have been manhandled better had you used The Weed Whacker™ ear and nose trimmer from MANSCAPED. With SkinSafe™ technology and a powerful 600mAh li-ion battery, The Weed Whacker trimmer boasts an intelligently contoured design and a 9,000 RPM motor that powers a 360° rotary dual-blade system.  Act now to save 44% on the Performance Package, and you'll also get free boxers, a free travel bag, plus free shipping sitewide. And freedom from gruesome grooming. Save 44% at Manscaped.com today.

TECH Amazon's Watching

Ring Amazon’s slowly chipping away at its goal of connecting every device in your home to the internet, from the toilet seat to the rice cooker. Yesterday afternoon, the company showed off new gadgets and services, including... Upgraded Echo devices with a fresh, spherical design An in-car security system from Ring (Amazon’s home security unit), available first for Tesla drivers Luna, a cloud gaming service to compete against Microsoft's xCloud and Google Stadia  But the craziest part... A $250 home security camera that lives on a fully autonomous drone. The Always Home Cam can show users any room inside their house (you get to pick where it’s allowed to fly).  Amazon covered the propellers to prevent damage and added obstacle avoidance technology...but we’ll see how well those work when the toddler and house cat team up.  Zoom out: Amazon said its new devices will get the “climate pledge friendly” stamp of approval. The company emphasized ways it's reducing its environmental impact, from low-power mode to using recycled materials. To read more about Amazon's master strategy, sign up for Emerging Tech Brew, which will hit your inbox later today.

QUIZ Are You Registered to Quiz? The feeling of getting a 5/5 on the Brew's Weekly News Quiz has been compared to peeling an entire hardboiled egg in one motion.  It's that satisfying. Ace the news quiz.

WHAT ELSE IS BREWING The Senate Commerce Committee will issue subpoenas to the CEOs of Twitter, Google, and Facebook if they don't agree to testify on Oct. 1 about a legal immunity shield known as Section 230. E.W. Scripps, a local TV station leader, is buying independent broadcaster ION Media in a $2.7 billion deal backed by Warren Buffett’s Berkshire Hathaway.  Lufthansa and United are trying out pre-flight Covid testing in an effort to boost passenger numbers. Then again, dogs might also do the trick.  LinkedIn has stories now? You know what's next...

BREW'S BETS Make some green from legalized green. This little-known Canadian company could be in line to generate a whole ’lotta profits off the coming legalization boom. If you want to learn how to get in on the action, sign up for Motley Fool Stock Advisor.* Eat good, feel good. Thrive Market carries wholesome goods at wholesale prices. Dig into the organic, healthy brands you already love—and do it with a clear conscience. Get a free gift of up to $24 when you join Thrive Market today.* Job openings at the Brew: These open positions are very near and dear to our hearts, because they’re on the writing side of the business! We’re looking for experienced editors for our new paid product, lifestyle vertical, and general business news. Come work with us. Follow Friday: It's not exactly a follow rec, just watch this music video about Morning Brew made by our college ambassadors at the University of Wisconsin. We're all Badgers fans now.  If you do want a follow rec, this guy makes hilarious infographics on Instagram. *This is sponsored advertising content

FRIDAY PUZZLE How many numbers from 1 to 999 contain the letter "A" in their English spelling?

SHARE 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. Share your unique link to start racking up referrals. Hit the button below to start sharing the Brew. Click to Share Or copy & paste your referral link to others: morningbrew.com/daily/r/?kid=a17a7110

FRIDAY PUZZLE ANSWER

None

September 25, 2020

View Online | Sign Up

Democrats Reportedly Preparing Bill To Put Term Limits on All New SCOTUS Justices   The country has seen the worst from Democrats since President Donald Trump was elected in 2016. But the current Supreme Court battle to fill the seat vacated by late Justice Ruth Bader Ginsburg has them desperate, and there is no end to their willing[...]   Read More

More Top Stories     Nobody dies of COVID and “the first lady calls me ‘sir’ or ‘mister president’…as dementia takes control Read More   President Trump Saves Taxpayers Millions By Ending ‘White Privilege’ Indoctrination Training For Federal Contractors Read More   Louisville protesters arrested near church that offered safe refuge: report Read More

Recommended by:

You Might Like       _______SUBSCRIPTION INFO_______ Columnists From RBG to Mask Mandates, the Dems Beg for Authoritarian Rule Larry O'Connor Radical Democrat Politics of 'The False Choice' Marc Lotter Trump Haters Gaslighting Trump Supporters David Limbaugh Ruth Bader Ginsburg Morphs Into Emma Lazarus William Marshall The Curious Case of Environmentalist Mike Shellenberger Gabriella Hoffman Republicans, Confirm a Supreme Court Justice Immediately Josh Hammer Hunter Biden Protected by Impeachment Until Now Fred Lucas All the Chips Are on the Table Now Pat Buchanan Rioting Radicals Will Have Free Reign if Biden Gets Elected Robert Wasinger ADVERTISEMENT Who's Violating Norms These Days? Michael Barone The Democrats' Bogus Concern for SCOTUS 'Norms' David Harsanyi Biden Keeps a Lid on Liberal Media Tim Graham Wind Turbines Generate Mountains of Waste Duggan Flanakin Democrats: Quick to Blame Others for their Own Crimes and Behaviors Jeff Davidson Democrats' Complaints About the Coming Supreme Court Vote Don't Pass the Smell Test Neil Patel When MSNBC Compares Trump to Hitler Michael Brown The Systemic Stupidity of the Systemic Racism Claim Vik Khanna The Case For Judge Allison Jones Rushing Mikayle Scheffel Why Everyone Loses in the Breonna Taylor Tragedy Michael Brown The Death of RBG Vindicates My Vote for Trump Nicholas Waddy 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 Why The Founding Fathers Despised Democracy AOC's "Democracy" vs. Liberty And The Constitution Fascism Is Socialism: Here’s The Proof Tea Party Triumph Marxism Isn’t About Equality, It’s About Power Evil On Jekyll Island Tipsheet Charles Barkley's Truthful Comments About Breonna Taylor Shooting Spark Backlash Bronson Stocking This Is Probably Why Joe Biden Called It A Day Before 10 AM Yesterday...And Hunter Might Be the Reason. Matt Vespa WATCH: Louisville Church Offers Sanctuary to Rioters, Kicks Out All the White People Bronson Stocking WATCH: Media Lectures About Constitutional Duty to Fill SCOTUS Vacancy ... in 2016 Bronson Stocking Graham Calls New Revelations 'Most Stunning and Damning' to Date Bronson Stocking VIP Gold Live Chat: Kurt Schlichter, Larry O'Connor & Chris Stigall - Replay Available Townhall.com Staff President Trump Rolls Out 'America First' Healthcare Plan Aimed at Protecting Preexisting Conditions Reagan McCarthy Cuomo Says He Won't Accept the FDA's Approval of a Coronavirus Vaccine Bronson Stocking Nothing to See Here: Just a Bunch of Mailed Ballots in a Ditch on the Side of the Road Ellie Bufkin Several Arrests Made, Felonies Charged in Texas Vote Harvesting Scheme Ellie Bufkin ADVERTISEMENT Political Cartoons Bearing Arms Andrew Cuomo Ignores SAFE Act Failures As Crime Rises In NY | Cam Edwards Judge Rules Zoning Rule Doesn't Violate Second Amendment | Tom Knighton Congressman Calls For Australia-Style Gun Confiscation | Cam Edwards CA City Councilman Uses Gun To Stop Brawl | Tom Knighton Prosecutors Disagree Over Grand Jury Findings In Scurlock Case | Cam Edwards

QUICK POLL: Will You Vote For Trump in 2020?   We all know the mainstream polls are completely bogus... As the 2020 campaigns heats up, we want real feedback.   Patriots all across this country can SEE and FEEL the support for Trump. Yet the polls show Sleepy Joe is leading at this point. How can this be?   We want feedback from real patriots. We want to go straight to the people and ask them how they feel. Every single time we have done that, the response has been OVERWHELMING!   QUICK POLL: Will You Vote For Trump 2020?