Tuesday, February 23, 2021

HEADLINES AND BREW

 

Daily Brew

TOGETHER WITH

The Motley Fool

Good morning. All flags on federal property will be lowered to half-staff for the next five days to mourn the 500,000 Americans who have died due to Covid-19 in just one year. The Biden administration noted that’s more than the total American deaths from World War I, World War II, and the Vietnam War combined.

MARKETS


NASDAQ

13,533.05

- 2.46%

S&P

3,876.50

- 0.77%

DOW

31,521.69

+ 0.09%

GOLD

1,808.60

+ 0.01%

10-YR

1.364%

+ 2.40 bps

OIL

61.69

+ 4.14%

*As of market close. Here's what these numbers mean.

  • Markets: Tech stocks got smacked as the S&P dropped for a fifth straight day.
  • Commodities: The world's most important industrial metal topped $9,000/metric ton for the first time since 2011. Know which one it is? Copper, which is getting a boost thanks to a) concerns over tight supply and b) the potential for a wave of economic growth to lift demand.
  • Crypto: It's safe to say Treasury Secretary Janet Yellen isn't secretly Satoshi Nakomoto. Of bitcoin, she told the NYT, "It's an extremely inefficient way of conducting transactions, and the amount of energy that's consumed in processing those transactions is staggering."

Francis Scialabba

Yesterday at its Stream On event, Spotify said it was launching its service in 85 new markets across Asia, Africa, the Caribbean, and beyond. Already the dominant audio player with 340 million active users, the expansion will nearly double Spotify’s global footprint. 

Big picture: With Hollywood and NYC churning out cultural hit after cultural hit, the US has historically dominated the music and entertainment industries. But the growing success of international content shows the center of gravity is shifting.  

  • Some examples: Puerto Rican star Bad Bunny was the most streamed artist on Spotify last year, the French Netflix show Lupin was watched by over 70 million people, and South Korean film Parasite became the first-ever foreign language film to win Best Picture at the Oscars. 

Businesses are looking for new eyes and ears

Spotify, which has headquarters in Sweden and the US, joins American media companies in recalibrating growth plans to place a larger emphasis on international markets.  

Netflix has invested in international content to differentiate itself in the streaming wars, maintain an upward growth trajectory, and serve something fresh to its American viewers. It’s succeeding on all fronts

  • In Q4 of last year, 7.7 million of Netflix's 8.5 million new subscribers came from international markets. 
  • And in Q3, non-US shows across all streaming services accounted for nearly 30% of demand in the US, according to data provided to Axios from Parrot Analytics.

Spotify has been slower to expand outside the US and Europe because securing music rights is a huge headache, but now it's going all-in on the Netflix model. Yesterday's expansion opened its service up to 1 billion more people, which will help power discoverability for new artists, styles, and genres. 

  • "All this untapped music energy and access to our innovative creator tools will help propel artists to new heights," Spotify wrote in a statement. Put another way, a more global user base will help New Music Friday surface the Lupins of the music world. 

Zoom out: Streaming companies' efforts to expand internationally mirror the mostly borderless world of social media, where creators on platforms like TikTok can achieve global fame with a single viral video. 

        

LEGAL

Supreme Court Trumps Trump

Documents in a folder with Trump Organization insignia

Francis Scialabba

Yesterday, the nation's highest court blocked former President Trump from keeping his financial records out of the hands of Manhattan District Attorney Cyrus Vance Jr. 

The details of Vance's investigation into alleged tax, insurance, and bank fraud by the Trump Organization (which includes residential and commercial real estate businesses) haven't been made public. The court's decision is a major setback for Trump, who denies wrongdoing. 

Catch up quick

August 2019: Vance hits Trump's accountant with a grand jury subpoena for tax returns and other documents, but Trump sues to block their release, arguing that as sitting president he's immune to criminal investigations. 

July 2020: The Supreme Court rejects that premise, so Trump tries arguing that the case is too broad and politically motivated.  

October 2020: After an appeals court denies that premise, Trump's lawyers take it back to the Supreme Court and the subpoena is put on hold. 

Now, Vance can collect Trump's records to determine whether his businesses committed fraud, particularly, whether they manipulated the valuations of NY properties to receive favorable loans and reduce property taxes.

Bottom line: This criminal probe is the "gravest legal threat" Trump has faced, Politico reports. 

        

AUTO

Jeep Pushed Over Cherokee Name

Jeep Cherokee

Jeep

Chevy Apache, Dodge Dakota, Winnebago...the US auto industry has a long history of using Native American monikers and imagery. But yesterday, the Cherokee Nation said it's had enough. 

Chief Chuck Hoskin Jr. requested that Jeep stop using his tribe's name on its Cherokee and Grand Cherokee SUVs, which together account for more than 40% of the brand's total sales. 

  • The Cherokee Nation has criticized the appropriation of Native American culture before, but this is its first official request for change. 

Jeep said its vehicle names "celebrate Native American people for their nobility, prowess, and pride." Hoskin disagrees. "The best way to honor us is to learn about our sovereign government, our role in this country, our history, culture, and language and have meaningful dialogue with federally recognized tribes on cultural appropriateness," he told Car and Driver. 

Zoom out: In the last year, amid national conversations around racial justice, Land O'Lakes dropped a Native American woman from its packaging, and Cleveland's MLB team and DC's NFL team are changing their names.

        

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GRAB BAG

Key Performance Indicators

WASHINGTON, DC - FEBRUARY 22: Attorney General nominee Merrick Garland t...

Drew Angerer/Getty Images

Quote: "My first love in law school was antitrust"—Merrick Garland might have caused a minor earthquake in Silicon Valley during his confirmation hearing for attorney general yesterday. The DOJ, which Garland will oversee if he's confirmed, sued Google last fall over anti-competitive practices in search and advertising. 

Stat: The top 10 hedge fund managers in the world earned $20.1 billion last year, according to the annual "Rich List" report from Institutional Investor. That's a 50% increase from 2019.  

Read: We're living in an age of peak advice. (The New Yorker)

        

Dimitrios Kambouris/Getty Images for Fenty

Yesterday, business mogul and rapper Jay-Z sold a 50% stake in his champagne brand, Armand de Brignac, to the wine and spirits division of luxury conglomerate LVMH.

The backstory: Jay-Z has been in the champagne game since he bought a 50% stake in Armand de Brignac in 2006, using his music videos to introduce the brand to the world. Now, Armand de Brignac, which is better known by its nickname "Ace of Spades," is a force in the alcohol industry, selling more than 500,000 bottles in 2019 at prices ranging from $300 to $64,999

So why sell? Mostly because LVMH and its wine and spirits division, Moët Hennessy, are really, really big. "What we could bring to the brand, which is already very successful, is the sheer power of our international distribution network," Moët Hennessy CEO Philippe Schaus told CNBC. 

Bottom line: This deal, much like LVMH's partnership with Rihanna's Fenty line and Gucci's collab with the rapper Gucci Mane, shows that luxury and hip-hop can be great partners. "I think that people have come to accept that these two worlds are a natural fit," Jay-Z told the WSJ.

        

WHAT ELSE IS BREWING

  • Lucid Motors is going public in the biggest SPAC deal yet for an electric vehicle company. The combined entity will be worth $24 billion. 
  • New Jersey became the 13th state to legalize marijuana.
  • Seattle Mariners CEO and President Kevin Mather resigned after backlash over disparaging comments he made during a video presentation. 
  • Former President Obama and Bruce Springsteen are launching a podcast on Spotify. It's the second podcast from the Obamas' Higher Ground production company.
  • Daft Punk, the French duo who served as the soundtrack to so many dance parties, are breaking up. Here's an example of their genius.

BREW'S BETS

Want in on real estate investing? You have three days left to join the Series B round of Caliber—an asset manager that provides people like you access to private real estate investments. Last chance to invest is Friday 2/26.*

This coffee creamer-related contest will make you extra excited. Chobani is giving you the opportunity to dream up its next Coffee Creamer flavor (made with real cream and no added oils, of course) for the chance to win $75,000. Two runners-up will win $15,000 and $10,000. Test your creamer flavor creativity here.*

Tech Tip Tuesday: How to browse Google Chrome like a pro

Big break: Watch this video of the late Anthony Bourdain talking about the opportunity that kickstarted his success and the importance of saying no.

Space out: Watch 1) epic new footage of the Perseverance rover’s touchdown on Mars 2) NASA TV, streaming live and 3) this spacecraft tracker

*This is sponsored advertising content

GAMES

How Well Do You Know the English Language?

Today’s trivia question draws inspiration from this amazing graphic showing the frequency of letters in English words and where they occur in the word. 

Here’s the quiz: We’ll give you a letter in English and you have to figure out whether it more frequently appears as the first letter of a word or the last letter. 

  1. S
  2. K
  3. B
  4. N
  5. D
  6. R

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ANSWERS

1. S more frequently appears as the last letter
2. K = First letter
3. B = First letter
4. N = Last letter
5. D = Last letter
6. R = It's just about a tie between first and last letter

 

World

Middle East

Europe

Latin America




February 23
W.E.B. Du Bois
FEATURED BIOGRAPHY

W.E.B. Du Bois

READ MORE
 
Alamo
FEATURED EVENT
1836
Alamo besieged by Santa Anna's Mexican army

READ MORE

SEE ALL BIOS ON THIS DAY

ALSO BORN ON THIS DAY
1868
W.E.B. Du Bois
American sociologist and social reformer
1685
George Frideric Handel
German-English composer
1960
Naruhito
emperor of Japan
1965
Michael Dell
American business executive
1633
Samuel Pepys
English diarist and naval administrator
1878
Kazimir Malevich
Russian painter

MORE EVENTS ON THIS DAY
Carlos Santana
2000: Mexican-born American musician Carlos Santana won eight Grammy Awards for Supernatural, tying the record set by Michael Jackson. [ Test your knowledge of the Grammy Awards.]
Stan Laurel and Oliver Hardy in Babes in Toyland
1965: British-born comedian Stan Laurel, of the comedy team Laurel and Hardy, died in Santa Monica, California. [Watch the duo in a clip from The Flying Deuces.]
George Frideric Handel
1685: Composer George Frideric Handel, a leading figure of late Baroque music, was born in Germany. [Take our classical composers quiz.]
Battle of Iwo Jima
1945: Six U.S. servicemen raised the American flag over Mount Suribachi on the island of Iwo Jima during World War II . [Sort fact from fiction in our World War II quiz.]
1905: The first Rotary Club was founded by Chicago attorney Paul P. Harris.
Mississippi: flag
1870: Mississippi was readmitted to the United States following the American Civil War. [Sort fact from fiction in our quiz about U.S. states.]
SEE ALL EVENTS ON THIS DAY

 February 23rd, 2021

Flashback! Remember when Biden said he was arrested for trespassing at Capitol
One of the infamous scenes from the Jan. 6 riot at the Capitol was the man in the viking hat standing behind the desk of the presiding... Read More ›
Protect Your Family With The Haylo Safety Flare
1,000 people die each year after getting hit on the shoulder of the freeway because other drivers did not see them in time to avoid them. It takes less than 60 seconds to prevent a disaster from happening to you and your passengers Read More ›
Democrats of New York announce action against Gov. Cuomo
Eleven New York State Democrats introduced a resolution on Monday to censure Democratic Gov. Andrew Cuomo for covering up COVID-19 nursing home deaths and threatening lawmakers.The resolution, signed... Read More ›
Supreme Court Allows Release of Trump Tax Records
The U.S. Supreme Court ruled on Feb. 22 that it won’t stop a New York prosecutor from obtaining former President Donald Trump’s tax returns and other financial records as part of a criminal... Read More ›
Bill Gates criticizes Twitter for Trump lifetime ban
Even Bill Gates, a longtime proponent of big tech taking steps to unilaterally eliminate "disinformation" on its platforms, believes Twitter's lifetime ban for former President Donald Trump isn't... Read More ›
FBI continues search for Jan. 6 protestors – Charges include 'assault on media'
Giving the Chinese, Iranian and Russian state police a run for their money… Apparently the Federal Bureau of Investigation, ie. the U.S.... Read More ›
GUN OWNERS: See How to Claim this Pro-Gun Collectible Coin for FREE Today!
This unique coin is a great way to honor our founding fathers and the decision they made to give us the right to bear arms Read More ›

Gordon Chang: Chinese ‘Don’t Respect’ President Biden

Gordon Chang: Chinese ‘Don’t Respect’ President Biden

Here's What We Know >>

 
Learn more about RevenueStripe...
Gov. Hutchinson: Biden ‘Missed’ Opportunity to...

Gov. Hutchinson: Biden ‘Missed’ Opportunity to...

Read This Alert >>>

Pence Turned Down Invitation to Speak at CPAC

Pence Turned Down Invitation to Speak at CPAC

Read This Alert >>>




Today's Top Headline

Election Tech Company Dominion is Suing MyPillow CEO Mike Lindell

 

Sponsored

Prevent Viruses From Infecting You And Your Family With This Simple Device...

 

Trending

As 500,000th Covid-19 Death Looms, US Reaches Pivotal Moment

Private School Enrollment Peaks as Parents Demand In-Person Learning for their Children

People Are Refusing Pfizer Vaccine’s Second Dose


Columnists
For Liberals, The War on COVID Is Never Meant to Be Won

Matt Vespa


Media Fluffs Biden

Derek Hunter


The Denial of Evil: The Case of Communism

Dennis Prager


These Girls Are Hurt by Transgender Competition

Salena Zito


The Blue States Are Now the Beggar States

Stephen Moore



Biden: No New Cold Wars or Democracy Crusades

Pat Buchanan


Former New York Times Reporter Shocked by Censorship Liberals Employ Against Conservative Authors

Douglas MacKinnon


Latvia Suspends Russian TV Channels

Larry Provost


The Chinese Communist Takeover of America Is Well Underway

D.W. Wilber


ADVERTISEMENT
Rush Explained

Cal Thomas


The Media's Cynical Ploy

Adam Weiss



INVESTING
Copper Shines

Amidst Global Warming Hysteria, NASA Expects Global Cooling

The Economic System Of Jerusalem During The Time Of Jesus

The Never-Ending Economic Tragedy Of Argentina

Canadian Natural Resources Limited Announces Fourth Quarter 2007 Update on the Progress of the Horiz

Latest news about shared mythologies - Stock Market | Personal Finance, Financial Advice, Money, Bus


Tipsheet
Garland Defends Controversial DOJ Nominees

Leah Barkoukis


Reporter Wrecks Biden Spokesperson After He Tried to Take Credit for Trump-Era Policy

Matt Vespa


'Kids In Cages' Are Back But Being Billed as Something Completely Different

Beth Baumann


Spot On: Joe Rogan Sounds Off on Ted Cruz's Trip to Cancun

Beth Baumann


March for Our Lives Is Making a Big Demand of Biden... to the Tune of $1 Billion

Beth Baumann


Teachers Union: It's Actually GOP Talking Points Preventing Reopening of Schools

Cortney O'Brien


Psaki: Emergency School Funding Wouldn't Actually Be Used This Academic Year

Beth Baumann


Biden's Pick for Attorney General Won't Say if Illegal Immigration Should Remain a Crime

Katie Pavlich


Another Survey Showing the Squishy RINO Establishment It's Not Their Party Anymore

Matt Vespa


Townhall Editor Katie Pavlich to Host 'Fox News Primetime' This Week

Townhall.com Staff


ADVERTISEMENT
Political Cartoons
Bearing Arms
Mother Killed After Child Finds Her Gun | Bearing Arms Contributor

Federal Judge Sentences Gun Owner For Using Marijuana | Cam Edwards

Gun License Delays Put Illinois Residents at Risk | Patrick Richardson

Court Allows Case Against N.C. Carry Delays To Continue | Cam Edwards

Anti-Gun Dems Press For Gun Bans At State Capitols | Cam Edwards

Breaking News: Melania Trump Finally Caught Michelle Obama Redhanded

High Ranking Politicians Are Furious!


{Continue Reading}

 


FOX
Daily update February 23, 2021


NEWS



Democrats question TV carriers' decisions to host Fox, OAN and Newsmax, citing 'misinformation'
Two House Democrats pressed a mix of cable, satellite and streaming providers on Monday about their decisions to carry Fox News, One America ...
Facebook Twitter Flag as irrelevant


House conservatives unveil playbook on how they'll fight back against Democrats' $1.9T COVID bill
Fox News first obtained a copy of the fact sheet that is slated to be widely circulated Monday. Among the provisions raising eyebrows among the ...
Facebook Twitter Flag as irrelevant




Melbourne priest beaten up outside of church speaks to FOX 35
A Melbourne priest is speaking to FOX 35 Orlando after he says he was beaten up and dragged across a parking lot by a former church member.
Facebook Twitter Flag as irrelevant


Dogs are mysteriously turning blue and pink in Russian city
Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. Packs of dogs in eastern Russia are inexplicably turning up pink ...
Facebook Twitter Flag as irrelevant


Does De'Aaron Fox deserve to be an All-Star?
The All-Star starters were announced Thursday, and unsurprisingly, no Kings made the cut. However, there is a chance that De'Aaron Fox cracks the ...
Facebook Twitter Flag as irrelevant


CPAC pulls speaker after anti-Semitic remarks surface
Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. The Conservative Political Action Conference disinvited YouTuber ...
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Suspect in California drive-by accused in Bay Area slaying
Fox News Flash top headlines are here. Check out what's clicking on Foxnews.com. ANTIOCH, Calif. (AP) – The suspect in a drive- ...
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Biden remembers 500000 American lives lost to COVID-19
Anthony Fauci tells 'Fox News Sunday' Americans need to continue to 'keep guard up' and not be 'complacent' during the coronavirus pandemic.
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WEB

Fox 11 Los Angeles - LAPD in pursuit of car in South LA | Facebook
HAPPENING NOW: LAPD in pursuit of a possibly armed suspect in South Los Angeles. STORY >> https://bit.ly/2ZETsvQ.
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In St. Louis' Fox Park neighborhood, Rung for Women will provide fresh, sustainable produce for ...
Rung for Women is now open in Fox Park, helping to improve the lives of women across the city. Alongside professional development, participating ...
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