|
TOGETHER WITH
|
|
|
Good morning. Obviously lots of significant news going on in the country so let's get right to it.
|
|
|
NASDAQ
|
11,075.02
|
- 2.22%
|
|
|
|
S&P
|
3,348.44
|
- 0.96%
|
|
|
|
DJIA
|
27,682.81
|
- 0.48%
|
|
|
|
GOLD
|
1,907.50
|
- 0.46%
|
|
|
10-YR
|
0.693%
|
+ 1.60 bps
|
|
|
|
OIL
|
36.99
|
- 4.47%
|
|
|
*As of market close
|
-
POTUS: President Trump was flown to Walter Reed National Military Medical Center last night as a “precautionary measure”
after testing positive for Covid-19, according to the White House.
Officials said he’ll spend a few days there working out of the military
hospital’s presidential suite. Trump’s doctor said he has been injected
with an experimental antibody cocktail to fight the virus.
|
|
|
Giphy / Mad Men
|
The U.S. economy added 661,000 jobs last month, and the unemployment rate dipped to 7.9% from 8.4% in August.
What it means: The
rate of the recovery in the labor market is slowing down. This was the
first jobs report since April that showed net hiring below 1 million new
jobs.
The slowdown
is not exactly a surprise. Economists know the unemployment rate is a
lot like your gym routine—easily knocked off track and sluggish to
return to full strength. Take these stats, for example:
- More than half of the jobs lost in March-April have now been recovered, but that means there are still 10.7 million fewer people with jobs than before the pandemic.
- At the current rate, it
would take 16 months to recoup all those jobs...but as we just
mentioned, the hiring pace is slowing down.
Big picture
This jobs report capped off a week in which big corporate names announced drastic reductions to their workforces:
- Disney cut 28,000 workers at its slumping resorts.
- United and American Airlines began to furlough 32,000 employees after stimulus discussions stalled.
- Other blue-chip companies, including Allstate and Goldman Sachs, also announced layoffs.
These moves
show that the coronavirus is still crimping growth nearly seven months
after initial shutdowns. With most of the emergency aid from March spent
by now, businesses will increasingly look to the government to ensure
the recovery doesn’t completely stall out.
|
|
|---|
|
When President Trump tweeted
that he and Melania had tested positive for COVID-19 the world
nervously eyed the financial markets to see how they would react.
It was ugly, initially
Early Friday morning, U.S. stock futures, which often show how the market will move before it opens, dropped.
- Why? Investors don’t
like uncertainty, and even though First Lady Melania Trump said she and
her husband were feeling good, no one knew how severe the president’s
illness was.
But as the shock of the news faded, the market began to recover after the White House said President Trump was experiencing mild symptoms and felt “energetic.” The Dow and S&P 500 finished the day with only marginal losses.
The mini-rebound was also fueled by comments made by House Speaker Nancy Pelosi, who signaled a standalone House bill providing aid
for struggling airlines could be coming soon. Whether it’s part of a
broader relief package or not is unclear, since Republicans and
Democrats remain far apart on the size and scope of the relief efforts. But Pelosi said yesterday there was reason for optimism.
Looking ahead...Trump’s health introduces a huge layer of uncertainty into what was already a volatile election cycle.
|
|
|
Netflix
|
For most people, the hardest part of watching the Netflix documentary The Social Dilemma is fighting off the urge to check the very platforms the doc is criticizing.
For Facebook, the stakes were higher. The company responded to the documentary yesterday in a blog post,
arguing the film “gives a distorted view of how social media platforms
work to create a convenient scapegoat for what are difficult and complex
societal problems.”
The post rebutted claims made by The Social Dilemma that 1) its users are the product, 2) the platform helps spread misinformation, and 3) its algorithms are sinister in any way.
Why is Zuck doing movie reviews?
The Social Dilemma,
which was among Netflix's top 10 most-watched shows in September,
attacks social media companies for irresponsibly manipulating their
users. Facebook is also implicated by the documentary for its role in election interference, ethnic violence, and increased rates of depression and suicide.
Bottom line: With lawmakers circling, FB is trying to win in the court of public opinion...one strongly-worded blog post at a time.
|
|
|---|
SPONSORED BY ATHLETIC GREENS
|
|
(Fernando Marathano is a very real superathlete we definitely didn’t make up.)
Fernando Marathano has held pilates sessions on the moon—without oxygen. He has circumnavigated the globe—swimming backstroke.
When asked about his secret, he replied two words: “Athletic Greens.”
It makes sense that Athletic Greens helps Fernando Marathano go the extra mile, because Athletic Greens is so much more than a multivitamin. Where most multivitamins stop, Athletic Greens gets going—adding probiotics, prebiotics, superfood green blends, and more.
Do you think Fernando Marathano has time to stress about gaps in his diet? No. You shouldn’t either. Athletic Greens gives you daily immune support, gut health, increased energy and the most comprehensive nutritional formula all in one scoop.
What does Fernando Marathano plan to do with Athletic Greens’ help next? Run from Hawaii to San Francisco, he says. (But first, he’s gonna build the bridge himself.)
For added immunity support, Brew readers get a full year supply of Vitamin D free with their first Athletic Greens purchase here.
|
|
|
Getty Images
|
Sorry, gonna have to stop you mid-headline. Uber has a freight arm? Yes? Okay, go on.
Yesterday, Uber said it received a $500 million investment in its freight business from Greenbriar Equity Group. The unit is now worth a meaty $3.3 billion.
But what does it do? Uber
Freight acts as a digital brokerage that connects shippers and
long-haul truckers in the deeply fragmented world of logistics. It’s not
a huge part of Uber’s overall business, but at 9.4% of the company’s
total revenue, it’s not peanuts.
- Plus, it’s growing (+27%
annually last quarter) at a time when Uber’s ride-sharing bookings have
shrunk due to the pandemic. The company’s other fast-growing unit, Uber
Eats, is now bigger than Rides.
Looking ahead...this investment allows Uber Freight to extend its runway “indefinitely,” according to Freight Waves, as well as implement new tech and expand into new markets.
|
|
|---|
|
Lauren DeCicca/Getty Images
|
In the past
few months, schools that had been shut down due to Covid-19 have
cautiously reopened for in-person instruction. This being a pandemic and
all, they’re following strict safety protocols, introducing face masks
and temperature checks into a sea of black JanSports.
We put together a photo gallery of fascinating pandemic-era school scenes in 13 different countries. Check it out.
|
|
|---|
-
Tesla delivered an impressive 139,300 vehicles last quarter, topping expectations.
-
Walmart agreed to sell its British supermarket chain, Asda, for $8.8 billion.
-
Airbnb is aiming to raise $3 billion in an IPO that could come in December, reports Reuters.
- The Tokyo Stock Exchange resumed operations Friday after suffering its worst outage in history Thursday.
-
SNL returns for its latest season tonight. Chris Rock is hosting and Megan Thee Stallion is the musical performer.
|
|
|
Improve your writing: Brew grammar guru Eliza Carter teaches you how to avoid clichés in this hilarious piece. It’s a must-read before you draft your new cover letter this weekend.
Saturday conversation starters:
-
The Social Network came out ten years ago...what were you like on social media in 2010?
- What’s an unsexy business that’s crushing the game?
- Are neck gaiters effective at fighting the spread of Covid-19?
|
|
|
We all know
that bird is the word, but sometimes words about birds aren't quite
true. Three of these avian-themed headlines are legit, while one isn't
real. Can you spot the fake?
- “Do crows possess a form of consciousness?”
- “Parrots were removed from a UK safari park after teaching each other to swear and then laughing about it”
- “Cheating birds mimic host nestlings to deceive foster parents”
- “Swans with brains 1/300 the size of orangutans’ pass the same IQ test”
|
|
|
It only takes 3 referrals to earn access to Light Roast, our exclusive Sunday newsletter.
Just the right amount of Brew to go with your lazy Sunday morning. You
don’t even need to train the dog to fetch it from the driveway.
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
|
|
SATURDAY HEADLINES ANSWER
|
Swans, while lovely to look at, aren’t known for their powerful intellect.
SATURDAY 10.3.2020
Breaking News: Terry Bradshaw Confirms The Rumors Live Today
|
|
|
He Leaves His Fans And Sponsors Speechless
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ADVERTISEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Breaking News | Kellyanne Tests Positive for COVID-19 | | Sat, 03 Oct 2020 09:31:39 +0000 | | PatriotsNews | | |
|
| FOX |
|
| NEWS |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| |
|
| WEB |
|
| Creative Production Assistant Also included in FOX Sports' portfolio are FOX's interests in joint-venture business Big Ten Network as well as a licensing agreement that established ... |
|
| |
|
| |
Sen. Cruz Comes Out in Support of Plan To Save Supreme Court from Being Packed
Kellyanne Conway Announces She Has Tested Positive for COVID-19
Pelosi Raises Possibility of Becoming Acting President
4 Ruth Bader Ginsburg Facts Leftists Don’t Want You To Know About
| Teacher shortages in NYC leave schools scrambling amidst reopening | | Read More | | |
| Corrupt Comey conveniently claims no memory of parts of FBI’s Trump-Russia ‘collusion’ probe | | Read More | | |
| BOMBSHELL: Clinton Allegedly Approved Russiagate Falsehood As Distraction From Email Scandal |
| Read More |
| |
| BOMBSHELL: Clinton Allegedly Approved Russiagate Falsehood As Distraction From Email Scandal Read More |
|
|
|
| |
| |
| | Pelosi: Trump’s behavior was a ‘brazen invitation’ for coronavirus infection | | Just minutes after news broke about President Trump and First Lady Melania’s COVID diagnosis, the mockery began. [...] | | | |
|
| |
|
No comments:
Post a Comment